$45M Loan Finances Construction of Harlem Condo High-Rise

SCALE Lending, the debt financing arm of Slate Property Group, has issued a $45-million senior-secured construction loan for a new multifamily project located at 264-272 W. 135th St. in Harlem. The sponsor, Mass Development, will use loan proceeds for the ground up development of an 11-story residential condominium building. The floating rate loan runs for 30 months with...