Timber Equities Secures $26.5M Construction Loan From Webster Bank In Harlem

Located at 2460 Frederick Douglass Boulevard in Harlem, Manhattan, the development site secured a $26.5 million construction loan from Webster Bank. The property is owned by Joseph Seidenfeld of Timber Equities.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $26,500,000
• Address: 2460 Frederick Douglass Boulevard
• Market: Harlem, Manhattan
• Lender: Webster Bank
• Landlord: Joseph Seidenfeld - Timber Equities
• Brokers: David Eisen and Meir Kessner
• Loan Type: Construction

David Eisen and Meir Kessner acted as the brokers in the deal bringing together Timber Equities and Webster Bank for the $26.5 million construction loan. Operating as 2460 FDB LP, Timber Equities successfully closed the deal on April 17, 2024, for the development site in Harlem.