335 8th Avenue
Update
01/05/24
Devs Land $151.4M for Chelsea Mixed-Use Project
Joint developers, MAG Partners, Safanad, and MetLife, have secured $151.4M for a 7-story, mixed-use project, going up at 335 Eighth Avenue in Manhattan's Chelsea neighborhood. Bank OZK is the lender, and the transaction consists of a $73 million construction loan, with the rest of the sum coming in the form of preferred equity.
Designed by , the building is set to feature rental apartments, with approximately 30% of the units to be dedicated to affordable housing. Plans also call for a Lidl supermarket on the ground floor.
The structure will stand feet tall and total square feet. General contractor, , recently broke ground on the project in October of 2023. An estimated date of completion has not yet been announced.
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