Grid Group refis $37M with Northwind Group for development in Central Harlem

Grid Group through the entity 145 North Woods LLC as borrower signed a loan agreement with lender Northwind Group’s NW 145 CPN Senior LLC valued at $37 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 37 residential units at 145 Central Park North in Central Harlem. The deal closed on February 18, 2021 and was recorded on March 2, 2021.
The property contains a total of 63,439 square feet of built space.
The average loan per unit is $1,000,000.
The loan paid off a fee and construction loan from Israel Discount Bank totaling $37 million. The last time the property sold was October 28, 2013 for $16,500,000.
Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $8,000.

There has been one new building permit application Those plans include a total of 37 residential units.

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