Slate Property Group Provides $167.5 Million Refinance Loan For Harlem Development Site

A development site located at 233 W. 125th St. in Harlem has been involved in a recently closed transaction. The property, with a buildable square footage of 420,000, has attracted attention in the market.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $167,500,000
• Market: Harlem
• Lender: Slate Property Group
• Landlord: The Lam Group

The loan used in this transaction was a refinance loan provided by Slate Property Group. Two brokerage teams played a crucial role in facilitating the deal. Jonathan Bodner and Emanuel Westfried from Two Bins and Francis Leung and Chris Okada from Okada & Company worked together to ensure the successful completion of the transaction.

Adding to the excitement of this deal, Chris Okada shared his enthusiasm on Instagram, highlighting the significance of closing a nine-figure deal in New York City real estate. The completion of this transaction in the first quarter of 2022 adds another success to their portfolio.

With the loan amount of $167,500,000 and the involvement of prominent individuals and companies, this closed transaction demonstrates the confidence in the Harlem market and the ongoing development in the area.