Valley National Bank Provides $25.87M Loan Modification For Chelsea Mixed-Use Building

The property asset involved in this transaction is a mixed-use building located at 119 7th Avenue in Chelsea, Manhattan. The asset comprises 53,123 square feet and contains 59 residential units along with 4 commercial spaces. The loan modification for this property amounts to $25,875,000 and was facilitated by Valley National Bank.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $25,875,000
• Address: 119 7th Avenue
• Market: Chelsea, Manhattan
• Asset Size: 53,123 SF
• Lender: Valley National Bank
• Broker: Simon Rosenfeld - Meridian Capital Group
• Note from Broker: Meridian Capital Group arranged financing on this Chelsea prime mixed-use building, containing 59 units & 4 commercial spaces

Simon Rosenfeld from Meridian Capital Group acted as the broker representing the deal. He can be contacted for further inquiries regarding how Meridian can add value for investment portfolios at 212-612-0110 or via email at [email protected].