Updated Oct 14, 2026
JLL Arranges $151.4M Construction Loan And Preferred Equity For Multifamily In Chelsea, Manhattan
335 8th Avenue
$151,400,000
$977/SF
Building Size
154,891 SF
Asset Type
MultiFamily
Closing
Dec 20, 2023
About this deal
AI
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.
On the Map
$151,400,000
$977/SF
MultiFamily
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Players
Market 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93