$151.4M Capitalization Secured For 335 Eighth Avenue In Chelsea, Manhattan
JLL Capital Markets has arranged a $151.4 million capitalization for 335 Eighth Avenue, a seven-story mixed-use building under construction in Chelsea, Manhattan. Designed by COOKFOX and developed by MAG Partners and Safanad, the structure will yield 188 units with 30 percent reserved for low- and middle-income residents, as well as over 30,000 square feet of amenities, 25,461 square feet of retail space, and 1,150 square feet of community facility space. Financing was secured from Bank OZK and MetLife Investment Management for the project, which broke ground in October 2023.
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Rendering Revealed for 335 Eighth Avenue Redevelopment in Chelsea, Manhattan
MAG Partners is teaming up with affordable housing cooperative Penn South to redevelop 335 Eighth Avenue in Chelsea, Manhattan. The new seven-story mixed-use building will include ground-floor commercial space and 200 residential units with affordable housing for low- and middle-income residents. COOKFOX is designing the 200,000-square-foot structure.
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