LoanCore Capital provides the financing for the East Harlem portfolio
Isaac Kassirer’s Emerald Equity Group has secured a $90 million loan from LoanCore Capital to refinance nine rental buildings in East Harlem along 117th Street between First and Park Avenues. The portfolio spans 207,101 square feet, and contains a total 319 apartments.
Financing Details: The package includes a $44 million gap mortgage and a $4 million building loan. The new loan replaces previous debt provided by New York Community Bank.