Artifact And Ashok Khubani Refinance Harlem Development Sites With $38.2 Million Loan From Genesis Capital

The properties involved in this transaction are located at 1867 Amsterdam Avenue, 1871 Amsterdam Avenue, and 1873 Amsterdam Avenue in Harlem, Manhattan. The asset type is a development site with a building square footage of 44,684. The loan amount associated with this refinancing is $38,200,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $38,200,000
• Market: Harlem, Manhattan
• Lender: Genesis Capital
• Landlord: Artifact & Ashok Khubani
• Prior Debt: $36,800,000 from Bravo Capital

Artifact and Ashok Khubani, through 1867-1871 Amsterdam Avenue LLC, executed a refinancing transaction, replacing their previous debt with funding from Genesis Capital. This move highlights the involvement of prominent entities in the refinancing process within the Harlem real estate market.