NEW YORK, NY – UC Funds, a vertically-integrated commercial real estate specialty finance firm, and HAP Investment Developers announced the grand opening of 329 Pleasant Avenue, an eight-story, luxury apartment complex in East Harlem, New York.
The 21,500-square-foot modern building contains 20 studio, one, and two-bedroom apartments crafted by highly-regarded designer Karim Rashid. UC Funds and HAP have collaborated closely to bring the project to fruition since UC Funds originated the ground up construction loan in April of 2015.
“As development proceeded, UC Funds worked directly with HAP to overcome any barriers that arose along the way, providing them with the time and funding that was necessary to bring 329 Pleasant Avenue to life,” said Joel Pecoy, senior vice president of asset management at UC Funds. “The apartment building’s much anticipated ribbon cutting and grand opening represent the effective collaboration of UC Funds and HAP to successfully complete this project and bring top-notch apartment living to the evolving Harlem community.”
The East Harlem community is currently seeing a renaissance in commercial real estate development. 329 Pleasant Avenue is located near the popular East River Plaza, which houses Costco, Target, and Best Buy. It’s also situated within close proximity to Thomas Jefferson Park, the Silberman School of Social Work at Hunter College, and local hospitals. Residents can enjoy amenities such as: elevator access, private terraces, designer kitchen and baths, in-unit washers and dryers, a roof garden with panoramic views of Manhattan, and more.
Providing over $1 billion of capital solutions to date, UC Funds is UC Funds is known as the “go to” commercial real estate capital provider and the most sophisticated financial ally in the industry dedicated to developing and maintaining long-term relationships with its borrowers and has earned a strong reputation for providing extensive reliability, standing by borrowers through completion.