Updated Oct 28, 2024
Connect One Provides $20M Loan For Harlem Development Site On W. 145th St. - Kunstlinger & Bollag Represent Borrower
104 W 145th St, Manhattan, New York, NY, USA
$20,000,000
$128/SF
Building Size
156,000 SF
Asset Type
Development Site
Closing
May 25, 2020
About this deal
AI
Located in Harlem, the development site at 104 W. 145th St., 100-102 W. 145th St., 106-120 W. 145th St., 120-138 W. 145th St., and 140-152 W. 145th St. offers a prime investment opportunity. With a buildable square footage (BSF) of 156,000, this property is perfect for development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Date: 05/25/2021
- Market: Harlem
- Lender: Connect One - Jason Pavon
- Brokers: Elliott Kunstlinger & David Bollag - Meridian Capital Group
Represented by Elliott Kunstlinger and David Bollag from Meridian Capital Group, the successful deal secured a loan amount of $20,000,000 from Connect One, with Jason Pavon acting as the lender. This transaction highlights the collaborative efforts of the brokers and lender in closing this lucrative deal for the development site in Harlem.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Visit Elliott Kunstlinger to view all their deals.
Browse New York development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93