Updated Oct 5, 2026
FINANCEDDevelopment Site
Bank Hapoalim Provides $50 Million Loan To Ken Haron Of Artimus Construction For Development Site
1440 Amsterdam Avenue
$50,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 27, 2026
About this deal
AI
The asset involved is a development site located at 1440 Amsterdam Avenue in Harlem, Manhattan. The loan amount secured for this property is $50,000,000, facilitated by Bank Hapoalim (BHI). The property is part of a prime market area known for its potential growth and development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $50,000,000
- Address: 1440 Amsterdam Avenue
- Market: Harlem, Manhattan
- Lender: Bank Hapoalim (BHI)
- Landlord: Ken Haron - Artimus Construction
- Loan Date: September 27, 2026
This transaction involved key individuals and companies, including Ken Haron, representing Artimus Construction as the landlord. The loan was specifically provided to facilitate the development aspirations on the site, underscoring the roles of both the lender and landlord in this financial arrangement.
On the Map
$50,000,000
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93