Douglas Peterson borrows $5M from Arbor Realty Trust for multifamily property in Central Harlem

Douglas Peterson of City Skyline Realty through the entity 277 W 150 LLC as borrower signed a loan agreement with lender Arbor Realty Trust through its Arbor Commercial Funding I, LLC valued at $5.4 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 20 residential units at 277 West 150th Street in Central Harlem. The deal closed on December 27, 2019 and was recorded on February 7, 2020.
The property contains a total of 14,554 square feet of built space.
The average loan per unit is $269,450.
The last time the property sold was November 14, 2014, for $3,600,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $170,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link