Related gets $125M loan for Chelsea development site
Quote:
The Related Companies secured $125 million in financing for a West Chelsea development site just south of the Hudson Yards megaproject, according to property records filed with the city yesterday. The developer closed on the $205 million purchase of a two-story parking garage and parking lot, thus setting a neighborhood record at more than $700 per square foot.
The New York branch of German financial-services giant Deutsche Bank AG provided the loan. Investors Barry Haskell and Matthew Resnicoff sold the 46,000-square-foot building at 511-525 West 18th Street and a 23,000-square-foot lot at 131 10th Avenue.
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December 30, 2014
http://therealdeal.com/blog/2014/12/....hjJUydUY.dpuf