Cammeby’s signs $17.2M refi with NewPoint for 84-unit rental in East Harlem

Cammeby’s International Group through the entity 1760 Madison LLC as borrower signed a refi loan with lender NewPoint Real Estate Capital through the entity Newpoint Real Estate Capital LLC valued at $17.2 million for the 84-unit residential elevator building (D3) at 1760 Madison Avenue in East Harlem, Manhattan.
The deal closed on July 25, 2025 and was recorded on August 8, 2025. The prior lender was Capital One which held debt that had an original loan amount of $14.6 million. The property has 77,000 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $223 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on April 1, 2011, for $5.6 million. The signatory for Cammeby’s International Group was Rubin Schron . The signatory for NewPoint Real Estate Capital was Randal S. Hering .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Michael Slavin, head officer. The business entity is 1760 Madison Llc. The 77,000-square-foot property generated revenue of $3.3 million or $43 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 84 residential units in East Harlem has 77,000 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 201 feet and is 85 feet deep with a total lot size of 17,156 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $15.9 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received five housing violations and $2,680 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of 16 of the 30 commercial properties representing 213,280 square feet of the 335,254 square feet. The largest owner is Cammeby’S International, followed by El Barrio’S Operation Fightback and then Nasir Sosouness.
There are no active new building construction projects on this tax block.

The majority, or 62 percent of the 335,254 square feet of built space are walkup buildings, with elevator buildings next occupying 25 percent of the space.

The borrower

The PincusCo database currently indicates that Cammeby’S International Group owned at least 129 commercial properties with 16,678 residential units in New York City with 16,389,220 square feet and a city-determined market value of $1.9 billion. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 68 percent of the 16,389,220 square feet of built space are elevator properties, with walkup properties next occupying 23 percent of the space. The bulk, or 54 percent of the built space, is in Queens, with Brooklyn next at 30 percent of the space.

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