Updated Oct 10, 2026
Josef Goodman, Jake Sokol & Dan Smillow Secure $40.75M Loan For Multifamily Development In West Harlem
16-20 Convent Avenue, New York, Ny, 10027
$40,750,000
$534/SF
Building Size
76,260 SF
Asset Type
MultiFamily
Closing
May 6, 2026
About this deal
AI
The property asset involved in this transaction is located at 16-20 Convent Avenue in the West Harlem market. It is a multifamily property comprising 76,260 square feet and consists of 84 units. The transaction involved a construction loan valued at $40,750,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $40,750,000
- Address: 16-20 Convent Avenue
- Market: West Harlem
- Asset Size: 76,260 square feet
- Units: 84
- Lender: Affinius Capital & Axonic Capital
- Landlord: Josef Goodman, Jake Sokol & Dan Smillow - Haussmann Development
- Landlord's Rep: Alan Blank, Cecelia Galligan & Crawford Bundy - Cushman & Wakefield
- Loan Type: Construction
The deal was represented by the landlord's representatives, Alan Blank, Cecelia Galligan, and Crawford Bundy from Cushman & Wakefield. These individuals contributed to facilitating the agreement between the landlord and the lenders involved in the construction financing.
On the Map
$40,750,000
$534/SF
MultiFamily
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New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93