Timber Equities Secures $37.5 Million Loan For Development Site In Chelsea Manhattan

A development site located at 329-345 West 25th Street in Chelsea, Manhattan offers an asset approximately 200,000 BSF. The property is set for an acquisition and predevelopment phase, targeted for a luxury residential project comprising 198 units. The financial backing for this endeavor amounts to $37,500,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $37,500,000
• Address: 329-345 West 25th Street
• Market: Chelsea, Manhattan
• Asset Square Footage: 200,000 BSF
• Landlord: Jeff Torkin - Timber Equities
• Loan Type: Acquisition

Jeff Torkin represents Timber Equities in this transaction, facilitating the secured debt financing for the project in Manhattan's Chelsea neighborhood.