Eight-Story Harlem Construction Project Secures $26M Loan, Writes NY Yimby

April 17, 2023

Elmo Realty has secured a loan worth $26 million to finance the construction of a mixed-use building in Harlem.

The eight-story building, located at 2535 Frederick Douglass Boulevard in Harlem, will cover an area of almost 24,000 square feet and will include 53 rental apartments and commercial space.

The building’s design, created by Koh Architecture, will feature a ground floor with a corner of floor-to-ceiling glass, and above it, the façade will transition to white and then pale gray masonry with a standard punched window system. On the seventh floor, the building will feature a cutout that could be used as a communal roof deck.

Although it has not been confirmed, there may be additional amenity spaces inside the building. The property will be situated between 135th and 136th Streets, and it was formerly occupied by the Healing From Heaven Temple, a small community Christian church.

Moujan Vahdat, CEO of Elmo Realty, purchased the property in 2015 and had it demolished three years later. The site sat vacant for years while Vahdat and his company were being investigated by New York State prosecutors for allegedly paying off local clergy members to gain ownership of their churches.

It remains unclear whether the investigation is ongoing, but a groundbreaking ceremony for the Frederick Douglass project took place this month. The project team has not announced when construction is expected to conclude.

Photo credits: By New York Yimby and source material.

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