Atlantic Development Group borrows $12M from M&T Bank to refi multifamily development property in East Harlem

Peter Fine’s Atlantic Development Group through the entity Second And 103, LLC as borrower signed a loan agreement with lender M&T Bank valued at $12 million for 1 parcel at 1998 2nd Avenue in East Harlem. The deal closed on May 15, 2020 and was recorded on June 5, 2020.

Peter Fine was the signatory for the borrower.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 143,821 square feet. Those plans include a total of 178 residential or hotel units. There has been one demolition project filed for the parcels over the past five years. The demolition included 18 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link