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Chelsea Condo Development Gets Loan

NEW YORK CITY—The $115 financing was arranged by Eastern Consolidated's capital advisory division, which was created last year.

By Rayna Katz | Updated on May 15, 2015

NEW YORK CITY—A $115 million loan to finance an 11-story luxury residential condominium at 527 W. 27th Street—next to the High Line–has been placed. Eastern Consolidated‘s Adam Hakim and Sam Zabala, managing directors in the capital advisory division, placed the funding. Financial associate James Murad assisted on the deal.

Centaur Properties and Greyscale Development Group are building the 135,000-square-foot Jardim condominium on a block-through site between 27th and 28th Streets. The complex will include 36 apartments ranging from one to four bedrooms, 12,000 square feet of retail, and 39 parking spaces.

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