June 26, 2017
HAP Investment Developers opened its 20 new apartments at 329 Pleasant Ave., an eight-story, luxury apartment building in East Harlem, New York.
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.
Designed by Karim Rashid, rents start at $2,000 a month for a two-room studio, and average $3,023 a month, according to listing data from StreetEasy. In addition to the studios, the building offers one and two-bedroom units.
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