Sharp Management borrows $9M from Signature Bank to refi multifamily property in Central Harlem

Sharp Management Corp. through the entity HP 140th Street Housing Development as borrower signed a loan agreement with lender Signature Bank valued at $9 million for 5 parcels, including the tax class multifamily, old law tenements (C4) and containing 92 residential units at 267 West 140th Street, 206 West 140th Street, 218 West 140th Street, 220 West 140th Street, 222 West 140th Street in Central Harlem. The deal closed on June 22, 2020 and was recorded on July 1, 2020.

The average loan per unit is $97,826.
The last time at least one of the properties sold was March 26, 2015, for $12,350,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $131,260.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link