Wisdom Capital Secures $13.5 Million Refinance From Israel Discount Bank For Chelsea Multifamily

The asset involved in this transaction is a six-unit multifamily residential building located at 534 West 29th Street in the Chelsea market of Manhattan. The refinancing amounts to $13,500,000, which replaces a previous loan of $11.5 million from Hakimian Partners.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,500,000
• Address: 534 West 29th Street
• Market: Chelsea, Manhattan
• Lender: Israel Discount Bank
• Landlord: Michael Shahkoohi & Ramin Baratian
• Company: Wisdom Capital
• Previous Loan: $11,500,000 from Hakimian Partners

Wisdom Capital, through Highline Heights LLC, was responsible for securing the refinance. This transaction reflects a strategic financial move to improve the funding structure for the property owned by Michael Shahkoohi and Ramin Baratian.