Cayre Equities borrows $24M from Santander Bank for new development in Central Harlem

Kenneth Cayre’s Cayre Equities through the entity CS 119 West 145th Street LLC as borrower signed a loan agreement with lender Santander Bank valued at $24 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 119 West 145th Street in Central Harlem. The deal closed on January 22, 2020 and was recorded on February 26, 2020.

The last time the property sold was April 26, 2018, for $10,500,000.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $230,000. There has been one new building permit application totaling 77,730 square feet. There have been 2 demolition projects filed over the past five years. The demolition included 2 residential units.
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