Harlem to get 11-story condo with 72 residences and a daycare
Credit: Katherine Belove
Plans to build an 11-story condominium in Harlem are moving ahead after the development team secured $45 million in construction financing this week. SCALE Lending, the debt financing arm of Slate Property Group, announced Tuesday that it issued the loan to Mass Development for the multifamily project at 264-272 West 135th Street. The ground-up building will feature studio to three-bedroom condos, half of which will include balconies, along with retail space, community facility, and resident amenities.
Brooklyn-based City Buildings will serve as the general contractor, BUILTD will serve as the architect, and Reavis will lead residential sales. The loan carries a floating rate for 30 months with two six-month extension options and was arranged by Arrow Real Estate Advisors.
“Harlem is one of the most supply-constrained condo markets in New York City, with no new project of comparable scale or quality delivering in years, and the pipeline remaining effectively empty,” Martin Nussbaum, co-Founder and principal of Slate Property Group, said.
“That level of scarcity creates a rare and compelling opportunity,” he added. “We are proud to team up with Mass Development and provide the capital that will deliver 72 residences to a neighborhood that is long overdue for new for-sale product.”
The property’s two lowest floors will feature a lobby, 12,000 square feet of retail space, and a 15,000-square-foot community space already leased to a daycare operator.
A top-floor amenities suite will include a fitness center, garden, resident lounge, spa, and children’s playroom. A movie room, storage space, and additional lounge areas will be located on the lower ground floor.
The two buildings were purchased in June 2025 for roughly $9 million by a Fresh Meadows, Queens-based entity from a Midtown LLC named after the site’s address, according to Crain’s. Before the sale, the properties housed a pizza shop, an Ethiopian restaurant, a deli, a laundromat, and a former church that had long sought to sell the property.
Permits had been filed earlier that year to demolish the former church, owned by the Faithful Workers Christ of God.
The site is located within walking distance of 125th Street, which offers a wide range of shopping, dining, entertainment, and cultural destinations. The B, C, 2, and 3 subway lines are also nearby, along with several bus routes.
The project is slated for completion in summer 2028.
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