Harlem Resi Tower Secures $100M Refi 

Carthage Real Estate Advisors has secured $100 million bridge financing through Dwight Mortgage Trust to refinance West Harlem’s 224 W 124 multifamily property. The loan will settle existing construction debt and support ongoing development. 

Located at 224 West 124th Street, the property features 168 units, including one- to three-bedroom apartments, townhomes, and penthouses. Among them, 51 units qualify as affordable housing under New York State’s expired 421a tax-abatement program. The building offers amenities like a fitness center, yoga room, sauna, children’s playroom, business lounge, and a rooftop deck with barbecue grills.

Part of the Marcus Garvey Village mixed-use development, the property contributes to a larger space comprising 300,000 square feet, incorporating 330 apartments, 3,200 square feet of commercial space, and 7,164 square feet designated for community facilities.