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L&M Development Partners And Harlem Congregations Secure $86.9 Million Loan From M&T Bank For Harlem Development
FINANCED
$86,900,000
New York
See Similar DealsDevelopment Site
Financed 05/15/2026
FINANCED
L&M Development Partners And Harlem Congregations Secure $86.9 Million Loan From M&T Bank For Harlem Development
31 West 110th Street
See Similar DealsDevelopment Site
Financed 05/15/2026
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 31 West 110th Street in Harlem, Manhattan. It encompasses a building square footage of 121,476. The loan amount secured for this project is $86,900,000, designated for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $86,900,000
- Address: 31 West 110th Street
- Market: Harlem, Manhattan
- Lender: M&T Bank
- Landlord: Lisa Gomez - L+M Development Partners & Harlem Congregations For Community
L+M Development Partners and Harlem Congregations For Community Improvement, through Seneca 110 Developer LLC, are the key entities involved in securing the construction loan from M&T Bank for the redevelopment of the property at 31 Central Park North in Harlem, Manhattan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$86,900,000.00
Monthly NOI$579,333.33
Monthly Debt Service$549,267.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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