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Construction & Design Deals & Dealmakers

Procida directs finance to local housing project

Alexis McSween, owner of Harlem-based Bottom Line Construction & Development, announced her firm has broken ground on Baldwin Park, a boutique residential building at 306 West 148th Street in Harlem.

The certified M/WBE, DBE and LBE firm expects the project to create approximately 40 new jobs over the next two years.

The six-story building — slated for a summer 2017 occupancy — will feature full floor-through plans with two bedrooms, 2-baths and balconies.

Alexis McSween and Billy Procida at Baldwin Park groundbreaking.
Alexis McSween and Billy Procida at Baldwin Park groundbreaking.

Baldwin Park’s General Contractor is locally-based APEX Building Group. Financing for the project was provided by New Jersey based direct lender, the 100 Mile Fund managed by Procida Funding & Advisors, LLC.

Over the last year Procida has been quite vocal about the finance community being misguided by throwing billions at mega luxury towers for the super-rich.
“What really needs to be done with all the pension money in private equity is to rebuild our inner cities,” said Procida.

“A minority woman contractor building what I consider contemporary housing in Harlem is doing exactly what I have said the finance community needs to focus on. When I saw only one vacant lot, on a pretty street, near a park in a cute nook of Harlem, coupled with her Bottomline Construction and Development team, I jumped at the opportunity to be a part of this project.”

McSween established Bottom Line Construction & Development in 2010. The company has worked on several permitted projects throughout New York City.

McSween transitioned into construction and development from a background as a Registered Nurse when she earned a Bachelor’s degree in Organizational Management, and a Masters of Science in Real Estate Development with a minor in Construction Management from New York University’s Shack Real Estate Institute.

While earning her Masters, she worked as a project manager on construction projects totaling $3 million.

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