SCALE Lending Provides $45 Million Construction Loan To MassDevelopment For Harlem Condo Project

The asset involved in this transaction is a condominium project located at 264 West 135th Street & 272 West 135th Street in Harlem, Manhattan. It is a construction project consisting of 11 stories and 72 units.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $45,000,000
• Lender: Martin Nussbaum & David Schwartz - SCALE Lending
• Landlord: MassDevelopment
• Loan Type: Construction
• Completion Target: Summer 2028

In this transaction, Martin Nussbaum and David Schwartz from SCALE Lending provided the financing for the condominium development. The loan is aimed at supporting the construction efforts by MassDevelopment, indicating a notable collaboration between the lender and the landlord.