Blackstone Provides $1.8B Acquisition Loan For Development Site At 76 Eleventh Avenue In Chelsea

76 Eleventh Avenue, located in the Chelsea neighborhood, has recently been involved in a closed property transaction. The development site was the subject of an acquisition loan, with blackstone''>Blackstone serving as the lender. The loan amount was a substantial $1,800,000,000.

Summary of transaction details:

• Property Type: Development Site
• Loan Amount: $1,800,000,000
• Lender: Blackstone
• Landlord: Witkoff Group & Access Industries
• Brokers: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz & Mo Beler - Walker & Dunlop
• Date: 12/22/2021
• Market: Chelsea

Leading the deal were a group of prominent individuals, including Jon Gray, Kenneth Kaplan, Stephen Schwarzman, Kathleen McCarthy, Steve Witkoff, Len Blavatnik, and Jonathan Schwartz. Additionally, industry professionals such as Aaron Appel, Keith Kurland, Adam Schwartz, and Mo Beler, representing Walker & Dunlop, played crucial roles in facilitating the transaction.