Updated Oct 10, 2026
James Edward Reynolds Of Greystar Refinances Chelsea Multifamily Asset At 160 West 24th Street For $112M
160 West 24th Street
$112,000,000
$528/SF
Building Size
212,134 SF
Asset Type
MultiFamily
Closing
Oct 7, 2025
About this deal
AI
A multifamily residential building located at 160 West 24th Street in Chelsea, Manhattan comprises 204 units and spans 212,134 square feet. The property was refinanced with a loan amounting to $112,000,000 from Guardian Life Insurance Company, superseding prior indebtedness from Flagstar Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $112,000,000
- Address: 160 West 24th Street
- Market: Chelsea, Manhattan
- Units: 204
- Square Footage: 212,134
- Lender: Guardian Life Insurance Company
- Landlord: James Edward Reynolds - Greystar
- Loan Type: Refinance
James Edward Reynolds of Greystar is the landlord overseeing this refinancing operation, which facilitates the continued management and operation of the residential asset following the replacement of previous debt. The deal reflects a significant financial maneuver within the multifamily segment of the Manhattan market.
On the Map
$112,000,000
$528/SF
MultiFamily
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New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93