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Parkview Financial Provides $9.1M Construction Loan For Multifamily And Retail Project In East Harlem

1638-1640 Park Avenue
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This MultiFamily property located in NY received a loan of $9,100,000 over 1 year ago. The brokers of the deal were Adam Hakim and James Murad

The loan for the property at 1638-1640 Park Avenue in East Harlem has been finalized. The property is a multifamily building with a total square footage of 22,753. It consists of 24 apartments, including 9 affordable units, and also features 1,843 square feet of retail space. The loan amount for this transaction is $9,100,000, which is a first mortgage construction loan provided by Parkview Financial.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,100,000
  • Address: 1638-1640 Park Avenue
  • Market: East Harlem
  • Square Footage: 22,753

The landlord of the property is Affect Group. The brokers involved in the deal are Adam Hakim and James Murad from Meridian Capital Group.

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  • Location
    1638 Park Avenue1638 Park Avenue
  • Loan Value
    $9,100,000$9,100,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

James Murad

James Murad

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Financed$2.2B

Agency

Meridian Capital Group

Meridian Capital Group

Agency
Deals2403
Volume$65.9B

Parkview Financial

Parkview Financial

Lender
Deals32
Volume$ 39.8B

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Deal Summary

LOAN IMAGE: Adam Hakim & James Murad DATE: 10/28/2022 ADDRESS: 1638-1640 Park Avenue MARKET: East Harlem ASSET TYPE: Multifamily ~ SF: 22,753 LENDER: Parkview Financial LANDLORD: Affect Group BROKERS: Adam Hakim & James Murad - Meridian Capital Group LOAN AMOUNT: $9,100,000 LOAN TYPE: First Mortgage Construction Loan LOAN TERMS: 22,753 GSF including 24 apartments (9 affordable) and 1,843 NSF of retail space

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1638-1640 Park Avenue

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