Cheskel Schwimmer Secures $70M Construction Loan From Valley National Bank In Hell’s Kitchen

Located at 616 West 24th Street in Hell’s Kitchen, Manhattan, the industrial property boasts a total square footage of 14,460 square feet with a sale price of $70,000,000. The asset, owned by Cheskel Schwimmer of Chess Builders, received a $70 million construction loan from Valley National Bank for a building project at 616 11th Avenue.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $70,000,000
• Market: Hell’s Kitchen, Manhattan
• BSF: 162,654
• SF: 14,460
• Lender: Valley National Bank
• Landlord: Cheskel Schwimmer - Chess Builders

Eleven W46 Realty LLC, represented Cheskel Schwimmer in the deal, facilitating the securing of the $70 million construction loan from Valley National Bank. The loan is designated for the industrial building project at 616 11th Avenue, adding depth to the developments in Hell’s Kitchen, Manhattan.