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MAG Partners Refi for The Mabel in Chelsea
Closed
Real Estate ServicesNew YorkOther
Deal Overview
MAG Partners, in partnership with Safanad, has closed on a $148.7 million bridge loan from Goldman Sachs Alternatives to refinance a construction loan for The Mabel in Chelsea. The property is located at 335 Eighth Avenue.
The Mabel is a 188-unit mixed-income residential building designed by CookFox, with 25,000 square feet of indoor and outdoor amenities including coworking and workout areas. The ground-floor includes 23,000 square feet of grocery retail space leased to Lidl. The building is nearly 100% leased less than one year after construction finished.
Key Details
- Transaction
- MAG Partners acquires Mabel
- Deal Size
- Over $100M
- Reported Value
- $148.7 million
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