Yuco Management borrows $6M from Capitol One for multifamily properties in Central Harlem

Raymond H. Yu’s Yuco Management through the entity 388 Manhattan Avenue Corp as borrower signed a loan agreement with lender Capitol One, National Association valued at $6.4 million for 6 parcels, including the tax class multifamily, old law tenements (C4) and containing 55 residential units at 388 Manhattan Avenue, 315 West 116th Street, 313 West 116th Street, 320 West 117th Street, 322 West 117th Street, and others in Central Harlem. The deal closed on January 8, 2020 and was recorded on January 21, 2020.
The properties have 58,028 square feet of available development rights.
The average loan per unit is $116,364.

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