East Harlem Pilot Block HDFC Refinances Multifamily Properties With $224.5M Loan From First American Capital Group

The asset involved in this transaction consists of multifamily properties located at 2383 2nd Avenue, 2243 3rd Avenue, and 2391 2nd Avenue in East Harlem, Manhattan, with a total square footage of 1,098,405. The properties encompass a total of 656 residential units, reflecting the significant scale of the investment in this market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $224,500,000
• Lender: First American Capital Group
• Landlord: East Harlem Pilot Block HDFC
• Loan Type: Refinance
• Loan Date: 09/29/2025

This refinancing transaction was facilitated by East Harlem Pilot Block HDFC, which engaged with First American Capital Group to secure the loan, aimed at improving the financing structure of its portfolio of four residential properties in the East Harlem area.