The Davis Companies in partnership with Eloise Capital has begun pre-leasing 1975 Madison, a new eight-story residential building in Central Harlem. Designed by DXA Studio and constructed by Broadway Construction Group, the fully electric building features 97 one- and two-bedroom units.
The building’s location provides convenient access to numerous public transportation options, including the Metro-North Railroad and 2/3/4/5/6 subway lines. The property is located within the newly formed Harlem 125th Street Business Improvement District.
“1975 Madison represents a meaningful addition to Davis’ growing presence in New York City, and will help meet the demand for new, transit-oriented housing options in a dynamic area,” said Stephen Skolas, SVP of development at Davis. “We’re proud to be part of the Harlem 125th Street BID and to support its mission of enhancing the neighborhood experience. As leasing begins, we’re excited to offer well-designed homes and soon welcome new residents to a culturally rich and connected community like Central Harlem.”
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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