InSite Property Group Secures $40.8M Construction Loan From Wells Fargo For Development In Hell's Kitchen

The property involved in this transaction is a development site located at 609 West 46th Street in Hell’s Kitchen, Manhattan. The site encompasses an area of 107,130 BSF and is being developed into a storage facility. The construction loan secured for this project amounts to $40,800,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $40,800,000
• Asset Address: 609 West 46th Street
• Market: Hell’s Kitchen, Manhattan
• Lender: Wells Fargo
• Landlord: Charles A. Brown IV - InSite Property Group
• Loan Type: Construction

The deal involves key individuals, including Charles A. Brown IV, representing InSite Property Group as the landlord in this transaction, who has secured financing to develop the site. The lender for this deal, Wells Fargo, is providing the necessary financial backing for the construction project at this location.