KSR Refinances Retail Condo In Chelsea, Manhattan For $1.5M

The retail property located at 158 West 23rd Street in Chelsea, Manhattan has been the subject of a refinancing transaction. The property, which spans 2,000 square feet, is owned by KSR. The loan amount for this refinance is $1,500,000. The terms of the loan are set at 5/25 with an interest rate of 275 basis points plus the 5-year U.S. Treasury (UST) yield.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $1,500,000
• Address: 158 West 23rd Street
• Market: Chelsea, Manhattan
• Square Footage: 2,000 SF
• Landlord: KSR

Morris Dweck from KSR served as the broker in this transaction. The refinance was made possible through a local balance sheet lender, which provided a competitive interest rate. It is worth noting that the retail condo is currently occupied by a licensed Cannabis tenant. For inquiries regarding Cannabis or traditional financing, interested parties can reach out to Morris Dweck at [email protected].