Ellen Salpeter's Westbeth Artists Community Secures $88.3M Loan For Multifamily Property In Manhattan

The asset involved in the transaction is a multifamily property located at 463 West Street in Manhattan's West Village, comprising 700,482 square feet. The property is part of the Westbeth Artists Community.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $88,300,000
• Lender: Michael Dury - Merchants Capital & NYS Housing Finance Agency
• Landlord: Ellen Salpeter - Westbeth Artists Community
• Loan Type: Construction

This transaction highlights the involvement of key parties, including Michael Dury from Merchants Capital and the NYS Housing Finance Agency, who facilitated the financing of the loan. Ellen Salpeter represents Westbeth Artists Community in this deal, which secured funding for the rehabilitation of the 384-unit property.