Cheskel Schwimmer Of Chess Builders Refinances Multifamily Properties In Hell's Kitchen For $125M

The transaction involved two properties located at 554 West 46th Street and 622 11th Avenue in the Hell’s Kitchen market of Manhattan. The asset type is multifamily, consisting of 157 residential units, and is part of a refinancing deal totaling $125 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $125,000,000
• Lender: MF1 Capital
• Landlord: Cheskel Schwimmer - Chess Builders
• Previous Loan Amount: $95,000,000
• Previous Lender: Valley National Bank

The refinancing was signed by Jonathan Pfeil, representing MF1 Capital. Chess Builders, under the leadership of Cheskel Schwimmer, facilitated this financial restructuring to replace a previous loan, enhancing their position in the market with these residential properties.