Bogopa Enterprises signs $90M refi with KeyBank for 233-unit mixed-used in Bedford Stuyvesant

Bogopa Enterprises through the entity Spenceran, Inc. as borrower signed a refi loan with lender KeyBank valued at $90 million for three the three commercial condominium units that make up the new construction, 233-unit mixed-use building at 1100 Myrtle Avenue in Bedford Stuyvesant, Brooklyn.
The deal closed on October 7, 2025 and was recorded on October 14, 2025. The prior lender was Bogopa Enterprises which held debt that had an original loan amount of $80 million.The three properties have 303,144 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $296 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Bogopa Enterprises was Spencer An . The signatory for KeyBank was Cynthia M. Milioto.

The property

The rental condo building with 233 residential units in Bedford Stuyvesant has 303,144 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 205,505 square feet. The city-designated market value for the property in 2022 is $12 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On the tax block of 1100 Myrtle Avenue, PincusCo has identified the owners of three of the 13 commercial properties representing 359,090 square feet of the 406,778 square feet. The largest owner is Maheshchand Ratanji, followed by Spencer An and then Yitzchok Schwartz.
On the tax block, there was one new building construction project filed totaling 195,548 square feet. It is a 233-unit, 195,548 square-foot residential (R-2) building submitted by Shorewood Real Estate Group and filed by Hugo Corvalan with plans filed June 18, 2020 and permitted November 17, 2021.

The majority, or 75 percent of the 406,778 square feet of built space are elevator buildings, with hotel buildings next occupying 10 percent of the space.

The borrower

The PincusCo database currently indicates that Bogopa Enterprises owned at least one commercial property with 125 residential units in New York City with 19,000 square feet and a city-determined market value of $6.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property. It is located in Queens.

Direct link to Acris document. link