Overview
- Shorewood Real Estate Group and Bogopa Enterprises secured a $130 million construction loan from PCCP for The 360 at 350 Grand Concourse in Mott Haven.
- The 13-story project will deliver 304 apartments, including 228 market-rate homes and 76 affordable units.
- Seventy-six apartments qualify as affordable under the 485-x tax program, which trades a property-tax break for a 25 percent set-aside at up to 60 percent of area median income.
- Food Bazaar has pre-leased about 47,892 square feet on the ground floor, anchoring the building with a full-service grocery store.
- JLL Capital Markets arranged the financing, led by Lauren Kaufman and Nicco Lupo, and the team targets a 2028 completion using FRESH grocery zoning and brownfield cleanup incentives common in recent South Bronx development.