Jeff Sutton’s Wharton Properties took out $125 million in loans to refinance its new retail property at 100 W. 125th St., the main street of New York’s Harlem neighborhood.

The six-story, 200,000-square-foot building just opened in 2016. Retail tenants already include Whole Foods, Burlington Coat Factory, TD Bank, Olive Garden, American Eagle Outfitters and Raymour & Flanigan.

Though not quite ready for permanent financing, the refi replaces developer equity and the original construction loan with a first mortgage from the balance sheets of Morgan Stanley and mezzanine financing from J.P. Morgan. With terms up to five years and interest rates that float, the loans are similar to construction financing.

“The new balance sheet financing provides interest-only payments at a favorable rate, and gives the borrower flexibility to continue its operation of the asset,” said Tal Savariego, vice president for Meridian Capital Group, which arranged the financing.

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