Ariel Property Advisors has arranged $13.5 million in acquisition financing for three adjacent mixed-use buildings located near Times Square, Bryant Park, and Hudson Yards in Manhattan’s Hell’s Kitchen. The buildings were 40% vacant at close with a five-year term at a fixed interest rate of 6.5%.
Led by Matthew Dzbanek, Matt Swerdlow, and Drew Chartash the team closed this transaction 35 days from signing the term sheet despite market uncertainty. “The transaction terms secured by Ariel prove the lender understood the value proposition of these three assets in what continues to be an ever-evolving market,” said Dzbanek. The properties provide easy access to entertainment, retail dining and transportation options making it one of Manhattan’s busiest neighborhoods
