TD Bank Lends $92M on Chelsea Mixed-Use Property
By Cathy Cunningham April 11, 2017 4:02 pm
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Stonehenge NYC has landed a $92 million loan for its mixed-use property at 555 Avenue of the Americas, according to records filed with the city today.
TD Bank provided the five-year floating rate mortgage, which refinances a $85 million General Electric Capital Corporation loan on the property from 2010.
Stonehenge acquired the 195,442-square-foot property for $67.3 million in July 2010 from Saint Vincent’s Catholic Medical Centers of New York. It previously served as a housing facility for the staff members of St. Vincent’s Hospital and was vacant at the time of purchase, according to a press release at the time.
The six-story, 163-unit luxury apartment building sits atop 19,000 square feet of retail space between West 15th and West 16th Streets, and has an alternate address of 101 West 15th Street. Apartment rents range from $3,595 for a studio to $4,995 for a one-bedroom, according to Stonehenge’s website.
A 3,468-square-foot retail space is currently available for lease, right next door to coffee house FIKA, a tenant at the property since September 2014.
“TD Bank is proud to expand our relationship with Stonehenge NYC and provide a five-year floating rate loan to finance this property,” Howard Hsu, a senior vice president at TD Bank, told Commercial Observer. “We look forward to continuing our partnership with Stonehenge on properties throughout New York.”
Representatives for Stonehenge did not immediately return requests for comment.
