Updated Oct 12, 2026
Artifact And Ashok Khubani Refinance Harlem Development Sites With $38.2 Million Loan From Genesis Capital
1867 Amsterdam Avenue, 1871 Amsterdam Avenue & 1873 Amsterdam Avenue
$38,200,000
Building Size
—
Asset Type
Development Site
Closing
Mar 3, 2026
About this deal
AI
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.
On the Map
$38,200,000
Development Site
View full map
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse New York development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93