JLL Arranges $151.4M Construction Loan And Preferred Equity For Multifamily In Chelsea, Manhattan

The multifamily property located at 335 8th Avenue in Chelsea, Manhattan has been sold in a closed transaction for a capitalization of $151,400,000. The property encompasses a total of 154,891 square feet and consists of 188 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $151,400,000
• Address: 335 8th Avenue
• Market: Chelsea, Manhattan
• Square Footage: 154,891
• Units: 188

The lender involved in this transaction was Bank OZK, providing a construction loan and preferred equity. The landlords of the property are MAG Partners, Safanad, and Metlife. The deal was facilitated by the brokers Geoff Goldstein, Rob Hinckley, Jeffrey Julien, Jillian Mariutti, Stephen Van Leer, and Nicco Lupo from JLL.