PROCIDA CLOSES $8M LOAN FOR MIXED-USE HARLEM PROJECT

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NEW YORK CITY — Procida Funding & Advisors LLC, a New Jersey-based real estate investment bank, has provided an $8 million bridge loan to Ladera II for its development site at 300 W. 122nd St. in Harlem. The mixed-use project will feature a 13-story, 164-unit residential development with ground-floor retail shops. Procida funded the project in conjunction with Romspen Mortgage Investment Fund, a Canadian-based lender. Construction is scheduled to begin within the next year.

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