Slate Buys East Harlem Building From Rockfeld for $28M

Slate Asset Management purchased a mixed-use residential and commercial building in East Harlem for $28.3 million, according to city records made public Wednesday.

Slate, through the entity SREC Third Ave Owner, bought the property at 2283 Third Avenue from the Rockfeld Group, which used the entity Rockfeld 2283, records show.

Brendan Shanahan, managing director at Slate, signed for the buyer, while Rockfeld CEO Steven Feldman signed for the seller, according to records.

It’s unclear who brokered the deal. A spokesperson for Slate did not immediately respond to a request for comment, while Feldman could not be reached for comment.

The seven-story, 50,908-square-foot building is at the corner of Third Avenue and East 124th Street, not far from the 125th Street onramp to the RFK Bridge. The building includes 18 residential units, mostly leased by the New York College of Podiatric Medicine as student housing.

The social justice nonprofit Getting Out and Staying Out is in 18,500 square feet of retail space on the ground floor, according to the company.

Rockfeld, which had owned the property since 2014, secured a $28.1 million refinancing from Annaly Capital Management in August 2019 for the building, as Commercial Observer previously reported.

Slate’s plans for the building are not clear, but the investment firm has been active recently across New York City.

In January, the firm provided a $59 million loan to Ohana Real Estate Investors to refinance The Tillary Hotel in Downtown Brooklyn, as CO previously reported.

And in August 2022, Slate supplied a $147 million debt package to Prime Group to refinance three self-storage assets in the Bronx, Brooklyn and Queens.

Isabelle Durso can be reached at idurso@commercialobserver.com.