Weinberg secures $65M loan for Chelsea office project

Weinberg Properties pulled off a $65 million construction loan from a Shanghai-based bank for a new office building in Chelsea. Shanghai Commercial Bank provided the loan, which will help pay for the construction of a roughly 49,000-square-foot building at 534 West 25th Street, documents filed with the city on Monday show. The developer plans to build an eight-story office building on the property, which will also include gallery space and a library. The city’s Department … [more]

Source: Real Estate

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