Cheskel Schwimmer Of Chess Builders Secures $38 Million Loan From Valley National Bank For Refinance

The asset involved in this transaction is a development site located at 555 West 45th Street in the Hell’s Kitchen market of Manhattan. The project encompasses an active residential undertaking consisting of 58 units and a total area of 53,307 square feet. The total loan amount associated with this property is $38 million through refinancing.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $38,000,000
• Loan Type: Refinance
• Lender: Valley National Bank
• Landlord: Cheskel Schwimmer - Chess Builders

The financing was arranged by Chess Builders through The Westline 555 LLC, facilitating the refinancing of the property with the loan from Valley National Bank. This transaction supports the ongoing development of the residential project at the specified address.