Mass Development has secured a $45 million senior construction loan for the ground-up development of a 72-unit condominium project at 264-272 W. 135th St., in Harlem, N.Y. Scale Lending—Slate Property Group’s financing arm—issued the floating-rate note, which is scheduled to mature in January 2029 and has two, six-month extension possibilities. Arrow Real Estate Advisors brokered the deal.
Brooklyn-based City Builders serves as the project’s general contractor, with BUILTD as architect and Reavis in charge of residential sales.
Upon completion, the 11-story property will feature units with studio, one-, two- and three-bedroom units. The first two floors will house the lobby area, 12,000 square feet of retail space and 15,000 square feet of community space leased to a daycare operator.
Source: Multi-Housing News, July 17, 2026
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