Jeff T. Blau Of Related Companies Secures $76.5M Refinance Loan For Multifamily Asset In Chelsea
324 East 30th Street
$76,500,000
$517/SF
Building Size
147,888 SF
Asset Type
MultiFamily
Closing
Jun 1, 2026
AI
The property asset involved in the transaction is a multifamily building located at 324 East 30th Street, in the Chelsea neighborhood of Manhattan. The property encompasses 147,888 square feet and consists of 223 rental units. The transaction includes a refinance loan amount of $76,500,000 through Walker & Dunlop.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $76,500,000
- Lender: Walker & Dunlop
- Landlord: Jeff T. Blau - Related Companies
- Date: 06/01/2026
- Market: Chelsea, Manhattan
- Asset Size (SF): 147,888
Related Companies, in partnership with nonprofit Settlement Housing Fund, executed the refinancing deal to support the rental property. The loan was arranged in collaboration with Pretium through WD Impact Originator I.
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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93