HAP Investments lands $55M loan for East Harlem building with rent-stabilized units
UPDATE Monday, June 24, 2019, 7:25 p.m.: Eran Polack’s HAP Investments closed on a $55 million refinancing of a rental building in East Harlem less than a week after sweeping rent regulation reform was passed by the state legislature.Asia Capital Real Estate, a...
HAP Investments secures $94M construction loan for Tribeca condo project
HAP Investments’ first project in Tribeca is moving forward with more than $107 million in financing.The $94 million construction loan for the 41-unit condominium was provided by G4 Capital Partners, the same private lender that provided HAP with a $32 million loan...
Washington Heights vs. Inwood: Which neighborhood is for you?
According to Duke Ellington’s 1942 signature tune, the A train was “the quickest way to Harlem,” but the jazz legend didn’t mention that the express train was also one of the best ways to get to two other equally historic Upper Manhattan neighborhoods: Washington...
HAP lines up $53M construction loan for Washington Heights project
Eran Polack’s HAP Investments secured a $52.5 million construction loan for a mixed-use development site at 4452 Broadway in Washington Heights.Madison Realty Capital provided the financing package, which will replace existing debt and cover construction costs, the...
Expert Interview: Eran Polack, CEO and Co-Founder of HAP Investments
For our latest Expert Interview, we had the opportunity to speak to Eran Polack, CEO and Co-Founder of HAP Investments. Eran is a well-recognized entrepreneur with a long, successful career in the real estate industry even before moving to the United States in 2011. A...
Foundation Work Continues For “HAP Eight” At 215 West 28th Street, In Midtown
Caisson pilings and ongoing foundation work have been spotted for the site of 215 West 28th Street, on the northern edge of Chelsea. Dubbed, “HAP Eight,” the project is set to stand 20 floors and 210 feet when complete. Comprised of two adjoining buildings, the site...
‘Devil In The Detail’: Brokers, Developers Trying To Figure Out Opportunity Zone Benefits, Pitfalls
The brand-new opportunity zones are shaping up to be one of the biggest trends to impact commercial real estate next year. But the program is uncharted territory, and investors and developers are being told to tread carefully if they want to make use of the...
East Harlem Boosted by Rezoning, Tax Breaks
Opportunity zone incentives seen fueling low-return projects Weak Northern Manhattan sales gain against borough’s total At the corner of Lexington Avenue and 125th Street in East Harlem, in front of a closed Pathmark grocery -– “Pat ark” is all that remains of...
East Harlem boosted by rezoning, tax breaks
At the corner of Lexington Avenue and 125th Street in East Harlem, in front of a closed Pathmark grocery —“Pat ark” is all that remains of the name — real estate broker John McGuinness paints a vision of the near future. The Pathmark transforms to a Trader...
NYC Real Estate Investment Outlook and Opportunities For 2019 from HAP Investments CEO Eran Polack
As 2018 comes to an end, many real estate developers and investors are looking toward the new year and considering what challenges and opportunities are in store for the industry, and the best way to navigate the New York City metropolitan market. Will land pricing...