Ariel Closes Sale of Hell’s Kitchen Mixed-Use Buildings
Ariel Property Advisors has arranged $13.5 million in acquisition financing for three adjacent mixed-use buildings in Manhattan’s Hell’s Kitchen. The three buildings were 40% vacant at close with a five-year term at a fixed interest rate of 6.5%.
Ariel’s team, led by Matthew Dzbanek, Matt Swerdlow, and Drew Chartash, arranged the transaction on behalf of the borrower. “Despite market uncertainty, our team closed this transaction 35 days from signing the term sheet,” said Dzbanek. “The transaction terms secured by Ariel prove the lender understood the value proposition of these three assets in what continues to be an ever-evolving market.”
The buildings are located near Times Square, Bryant Park, and Hudson Yards, providing easy access to entertainment, retail, dining, and transportation options in one of Manhattan’s busiest neighborhoods.
Ariel Closes Sale of Hell’s Kitchen Mixed-Use Buildings
Ariel Closes Sale of Hell’s Kitchen Mixed-Use Buildings
Ariel Property Advisors has arranged $13.5 million in acquisition financing for three adjacent mixed-use buildings in Manhattan’s Hell’s Kitchen. The three buildings were 40% vacant at close with a five-year term at a fixed interest rate of 6.5%.
Ariel’s team, led by Matthew Dzbanek, Matt Swerdlow, and Drew Chartash, arranged the transaction on behalf of the borrower. “Despite market uncertainty, our team closed this transaction 35 days from signing the term sheet,” said Dzbanek. “The transaction terms secured by Ariel prove the lender understood the value proposition of these three assets in what continues to be an ever-evolving market.”
The buildings are located near Times Square, Bryant Park, and Hudson Yards, providing easy access to entertainment, retail, dining, and transportation options in one of Manhattan’s busiest neighborhoods.
Source link
Comments
More posts