ABJ Properties obtained financing of $6M from Berkadia Commercial Mortgage

ABJ Properties through the entity Madam C.J. Walker Housing Development Co, Inc. as borrower signed a loan agreement with lender Berkadia Commercial Mortgage LLC valued at $5.9 million for 5 parcels, including the tax class multifamily, old law tenements (C4) and containing 41 residential units at 2913 Fred Douglass Blvd, 2917 Fred Douglass Blvd, 2919 Fred Douglass Blvd, 2920 Fred Douglass Blvd, 2922 Fred Douglass Blvd in Central Harlem. The deal closed on June 19, 2019 and was recorded on July 19, 2019.
The property contains a total of 40,842 square feet of built space. The property has 775 square feet of available development rights.
The average loan per unit is $144,195.
The last time the property sold was August 02, 2018, for $1,776,478.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link