NEW YORK—Working on behalf of the borrower, Tavros Capital Partners U.S.A. LP, HFF has arranged $18.5 million in acquisition financing for Chelsea Muse, a 28-unit, class A multihousing rental building in Manhattan’s West Chelsea neighborhood.
HFF’s Steven Klein, managing director, led the transaction.
Located at 537 West 27th Street, the Chelsea Muse was constructed in 2011 and is in close proximity to the High Line Elevated Park. Tavros plans to re-brand the building, which is 100 percent occupied. The property totals 18,000 sq. ft. of retail space.
“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,” said Klein.