Bronx, NY

$27,500,000 First Mortgage

In November 2022, a $27.5 million first-lien acquisition loan was originated for a three-parcel land assemblage located at 261 Grand Concourse in the Mott Haven neighborhood of the Bronx. The collateral supports the pre-development of a planned 399-unit multifamily project, with loan proceeds intended to fund pre-development activities and position the asset for a subsequent construction financing.