GoVisa Crotona Project
Developed by Gogia Builders and led by Vijay Gogia, Esq, The Crotona is a state-of-the-art mixed-use development that exemplifies the next era of urban living and commercial vitality in the Bronx, NY.
Development Mix
90 apartments with a 70/30 split of market rate to affordable units
9,000 square feet of retail space on the ground and cellar levels, designed to attract premium retail tenants.
Parking
45 parking spaces have been provisioned on the second floor, offering convenient access for both residents and visitors.
U.s.
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Coming soon
Keep up to date with us
2022
Break Ground Date
The groundbreaking took place on May 1, 2022.
2023
Completion Date
The project is currently in progress and is progressing according to schedule.
Tax Incentives
Residential
35-year tax benefits under the 421-a (16) program, ensuring long-term financial stability for the residential component.
Commercial
25-year tax benefits through the Industrial & Commercial Abatement Program (ICAP), providing an added incentive for prospective commercial tenants
Property Management
The property will be managed by Happi Housing, an affiliated company, ensuring seamless operations and a high standard of maintenance and resident satisfaction.
Urban Oasis
The Crotona is not just a place to live or do business; it‘s a community optimized for the modern urban lifestyle. It combines comfort, convenience, and modern amenities in a setting that respects both individual needs and community values.
Sustainable Urban Gem
With its strategic location, tax incentives, and blend of residential and commercial spaces, The Crotona is set to become a cornerstone of revitalized, sustainable urban living in the Bronx.
Founder & CEO
Vijay Gogia, Esq.
Chief Revenue Officer
Michael Kaufman
Chief Marketing Officer
Brian Zirulnikoff
Project Terms
Overview
- Property: 2481 Crotona
- Location: Near Fordham University
- Type: 90 Luxury Rentals
- Total Project Cost: $32,000,000
- Financing: 65% Construction Loan + Sponsor Equity
- Sponsor: Gogia Builders (Wholly owned by the Gogia Family)
Financial Breakdown
Construction Loan
- Loan Percentage: 65%
- Loan Amount: $20,800,000
Sponsor Equity (Gogia Builders)
- Equity Percentage: 35%
- Equity Amount: $11,200,000
