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Singer & Bassuk Closes $105M Refi

NEW YORK CITY-The loan for Harlem USA goes toward the refinancing of an existing $53.8 million securitized permanent loan.

By Natalie Dolce | Updated on November 02, 2007

(Read more on the debt and equity markets.)

NEW YORK CITY-The Singer & Bassuk Organization closed a $105 million permanent loan for Harlem USA, a retail and entertainment complex on 125th Street between Frederick Douglass Boulevard and St. Nicholas Avenue. The five-level project is about 285,000 gross sf.

SBO arranged the permanent financing with Hypo Real Estate Capital Corp. for HUSA Management Co. LLC, an affiliate of Gotham Organization Inc. and Grid Properties Inc. The Hypo loan was used to refinance an existing $53.8 million securitized permanent loan which was defeased as part of the transaction.

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