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Chelsea Operating Inc Secures $31M Loan For Mott Haven Industrial & Chelsea Retail Buildings

Property Image
FINANCED
$31,000,000

New York

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Industrial261,200 SF
Financed 10/10/2023
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Property Image
FINANCED

Chelsea Operating Inc Secures $31M Loan For Mott Haven Industrial & Chelsea Retail Buildings

656 East 133rd Street & 521 West 21st Street

See Similar Deals
Industrial261,200 SF
Financed 10/10/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$118
Total Square Footage:261,200 SF
Transaction Type:Loan

The loan transaction took place on October 10, 2023, involving two properties located in Mott Haven, Bronx and Chelsea, Manhattan. The first property is an industrial building situated at 656 East 133rd Street with a total square footage of 149,398. The second property is a retail building located at 521 West 21st Street with a square footage of 130,600.

Summary of transaction details

  • Property Type: Industrial & Retail
  • Transaction Amount: $31,000,000
  • Address: 656 East 133rd Street & 521 West 21st Street
  • Market: Mott Haven, Bronx & Chelsea, Manhattan
  • Lender: Citibank
  • Landlord: Guy Roberts

Guy Roberts, representing Chelsea Operating Inc, successfully secured a $31 million loan from Citibank's Citi Real Estate Funding. The funds were obtained for the industrial building at 656 East 133rd Street in Mott Haven, Bronx, and the retail building at 521 West 21st Street in Chelsea, Manhattan.

Players

Citibank
Citibank
LENDER
GR
Guy Roberts
2 deals$62M volume
LANDLORD

Details

FINANCED
IMAGE: 10/10/2023 ADDRESS: 656 East 133rd Street & 521 West 21st Street MARKET: Mott Haven, Bronx & Chelsea, Manhattan ASSET TYPE: Industrial & Retail ~ BSF: 149,398 ~ SF: 130,600 LENDER: Citibank (@CitiBank) LANDLORD: Guy Roberts LOAN AMOUNT: $31,000,000 NOTE: Guy Roberts, representing Chelsea Operating Inc, secured a $31 million loan from Citibank's Citi Real Estate Funding for two properties: the industrial building at 656 East 133rd Street in Mott Haven, Bronx, and the retail building at 521 West 21st Street in Chelsea, Manhattan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,000,000.00

Monthly NOI$206,666.67
Monthly Debt Service$195,941.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00