Elmo Realty Secures $26M Construction Loan for 2535 Frederick Douglass Boulevard in Harlem, Manhattan

Elmo Realty recently closed on a $26 million loan to finance the construction of an eight-story mixed-use building at 2535 Frederick Douglass Boulevard in Harlem, Manhattan. When complete, the property will comprise nearly 24,000 square feet of 53 rental apartments and commercial space.

Designed by Koh Architecture, the ground floor will feature a corner of floor-to-ceiling glass. Above, the façade transitions to white and then pale gray masonry with a standard punched window system. Above the seventh floor, the building features a cutout that will likely be activated by a communal roof deck.

The project team has not confirmed the inclusion of additional amenity spaces inside the building.

Undeveloped site at 2535 Fredrick Douglass Boulevard

Located between 135th and 136th Streets, the development site was formerly occupied by Healing From Heaven Temple, a small community Christian church. The property was acquired by Moujan Vahdat, CEO of Elmo Realty, in 2015 and demolished three years later. The site sat vacant for years with little evidence of construction progress while Vahdat and his company were under investigation by New York State prosecutors for allegedly paying off local clergy members to gain ownership of their churches.

While it’s unclear if the investigation is ongoing, a groundbreaking ceremony for the Fredrick Douglass project took place this month. The project team has not announced when construction is expected to conclude.

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