Richard Born Of BD Hotels Secures $125M Refinance Loan From Wells Fargo For Chelsea Hotel

The property asset involved in this transaction is a multifamily building with a total of 8 units located at 229 West 22nd Street in the Chelsea market of Manhattan. The landlord is Richard Born, associated with BD Hotels. The property was refinanced with a loan of $125,000,000 from Wells Fargo, which replaces a prior loan amounting to $100,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $125,000,000
• Date: 06/05/2025
• Lender: Wells Fargo
• Landlord: Richard Born - BD Hotels
• Previous Loan Amount: $100,000,000

The refinancing deal highlights the involvement of Richard Born, representing BD Hotels, as the landlord of the property. The transaction was facilitated through Wells Fargo, marking a significant financial movement in the Manhattan real estate market, specifically related to The Chelsea Hotel and an adjacent residential building.