Mendel Fleischman gets $3M construction loan for Central Harlem project

Mendel Fleischman through the entity 81 Garden LLC as borrower signed a loan agreement with lender Joramel LLC valued at $3 million for 1 parcel, including the tax class miscellaneous religious (M9) at 81 West 118th Street in Central Harlem. The deal closed on August 17, 2020 and was recorded on September 30, 2020.
The property contains a total of 5,120 square feet of built space. The property has 6,936 square feet of available development rights.
The average loan per buildable square foot is $433.
This is an acquisition and new construction loan. The last time the property sold was August 17, 2020, for $1,999,900.

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 were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $878,120. Those filings sought to increase the number of residential units by 10 to 18
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link