Monadnock Development pays $17M to Aulder Capital for property in Central Harlem

Monadnock Development through the entity Cloth Pillars I Housing Development Fund Corp paid Aulder Capital’s 141st Apartments LLC $17.4 million for 111 West 141st Street, 148 West 141st Street in Central Harlem. The deal closed on December 30, 2019, and was recorded on January 7, 2020. The transaction consists of 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 88 residential units. The property is 26,165 square feet. The parcel(s) have total development potential of 36,935 square feet.
The sale price per unit is $197,443.

The last time the properties sold was in 2015, when Aulder bought them for $14,500,000.

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 renovation/alteration projects (A2) applied for with a total estimated value of $2,153,200.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link