Updated Apr 30, 2026
Shorewood Real Estate Group & Bogopa Enterprises Secure $130 Million Construction Loan For 360 Grand Concourse
360 Grand Concourse
$130,000,000
Units
304
Asset Type
MultiFamily
Closing
Mar 2, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 360 Grand Concourse in the Mott Haven neighborhood of South Bronx, consisting of 304 units. A construction loan of $130,000,000 was secured to facilitate the development of this property.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $130,000,000
- Address: The 360 - 360 Grand Concourse
- Market: Mott Haven, South Bronx
- Lender: PCCP LLC
- Landlord: Shorewood Real Estate Group & Bogopa Enterprises
- Brokers: Lauren Kaufman & Nicco Lupo - JLL
- Loan Type: Construction
The key individuals in this transaction are Lauren Kaufman and Nicco Lupo, who represent the brokerage JLL. They played a crucial role in securing the financing for the project, which involves significant contributions from the landlord entities, Shorewood Real Estate Group and Bogopa Enterprises.
On the Map
$130,000,000
MultiFamily
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Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93