Fortune Society Secures $31M Construction Loan For East Harlem Development Site

The development project at 107 East 123rd Street in East Harlem, Manhattan, is a Development Site with a Building Square Footage of 55,051. The project secured a $31 million construction loan facilitated by Jane E. Silverman from JPMorgan Chase and NYS Homeless Housing and Assistance Corporation. The loan was obtained by the nonprofit Fortune Society.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $31,000,000
• Address: 107 East 123rd Street
• Market: East Harlem, Manhattan
• Lender: Jane E. Silverman - JPMorgan Chase & NYS Homeless Housing & Assistance Corporation
• Landlord: Fortune Society

The Fortune Society, a nonprofit organization, successfully secured the substantial $31 million construction loan for the development project. The loan was arranged with the assistance of Jane E. Silverman from JPMorgan Chase and the NYS Homeless Housing and Assistance Corporation, highlighting the collaborative effort of key individuals and institutions in supporting this initiative.