Artimus borrows $15M from Lakeland Bank for retail property in Central Harlem

Artimus through the entity Soha Retail Equities LLC as borrower signed a loan agreement with lender Lakeland Bank valued at $15 million for 1 parcel, including the tax class commercial condominium unit (R5) at 2187 Fred Douglass Blvd in Central Harlem. The deal closed on February 13, 2020 and was recorded on July 6, 2020.
The property contains a total of 32,891 square feet of built space.
The average loan per buildable square foot is $456.
The financing included $8.3 million in a gap loan. The last time the property sold was December 19, 2012, for $6,806,941.

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