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Mendel Fleischman Secures $16.5 Million Rehabilitation Loan From Be Aviv For 254 West 35th Street

Property Image
FINANCED
$16,500,000

New York

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Industrial106,642 SF
Financed 06/03/2026
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Property Image
FINANCED

Mendel Fleischman Secures $16.5 Million Rehabilitation Loan From Be Aviv For 254 West 35th Street

254 West 35th Street

See Similar Deals
Industrial106,642 SF
Financed 06/03/2026
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$154
Total Square Footage:106,642 SF
Transaction Type:Loan

The property asset involved in this transaction is located at 254 West 35th Street in Manhattan's Garment District. This industrial building features a total square footage of 106,642 and consists of 166 units, facilitating its conversion from a loft structure.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $16,500,000
  • Lender: Be Aviv
  • Landlord: Mendel Fleischman
  • Loan Type: Rehabilitation
  • Recording Date: June 11, 2026
  • Management Entity: 35 Garden LLC

The deal was orchestrated by Mendel Fleischman, who is associated with the entity 35 Garden LLC. The transaction reflects a strategic investment in the rehabilitation of the 16-story loft building, facilitated by the financing from Be Aviv through Badf West 35th Street Lender LLC.

Players

Be Aviv
Be Aviv
LENDER

Details

FINANCED
IMAGE: 06/03/2026 ADDRESS: 254 West 35th Street MARKET: Garment District, Manhattan ASSET TYPE: Industrial ~ SF: 106,642 ~ UNITS: 166 LENDER: Be Aviv LANDLORD: Mendel Fleischman LOAN AMOUNT: $16,500,000 LOAN TYPE: Rehabilitation NOTE: Mendel Fleischman, through 35 Garden LLC, closed a $16.5 million rehab construction loan with Be Aviv via Badf West 35th Street Lender LLC for the 166-unit conversion of the 16-story loft building at 254 West 35th Street in Manhattan’s Garment District, with the deal recorded June 11, 2026.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,500,000.00

Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00