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| Chelsea Muse Apartments West Chelsea, New York City |
NEW YORK,
NY –
HFF
announced today that it has arranged $18.5 million in acquisition financing for
the Chelsea Muse, a 28-unit, Class A multi-housing rental building with
substantial retail in Manhattan’s West Chelsea submarket.
HFF worked on behalf
of the borrower, Tavros Capital Partners USA, LP, to secure the five-year,
fixed-rate loan. The loan proceeds were used to acquire the
property.
The Chelsea Muse is
located at 537 West 27th Street adjacent to the High Line Elevated Park in West
Chelsea.
 |
| Steven Klein |
Tavros plans to re-brand the building through a focused marketing
campaign. Built in 2011, the residences were fully leased within five weeks of
completion.
The 18,000-square-foot retail component of the property is 100
percent occupied and consists of Pinch Food Design and a large below-grade event
space leased upon closing to Skylight Group.
The HFF team
representing Tavros Capital Partners was led by managing director Steven Klein.
“Tavros Capital Partners had the
vision and the foresight to purchase the property with the retail component
vacant and was immediately able to add value to the property by signing a lease
with the property’s largest retail tenant. Through this acquisition, Tavros
increases their footprint in Manhattan and in the West Chelsea submarket,” said
Klein.
Tavros Capital
Partners is a privately-owned real estate investment management firm with
offices in the U.S. and Europe. Tavros owns or is developing five assets in New
York City, totaling approximately 340,000 square feet, including: 560 West
24th Street, 180 Avenue of the Americas, and 448-452 Broome
Street.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
krmurphy@hfflp.com
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