Fine Properties New York this week closed on a $35 million loan to complete The Elisa at 251 West 14th Street in Chelsea, Manhattan. Designed by Brazilian architect Isay Weinfeld with HTO Architect, the ground-up condominium building stands 11 stories tall and will include 25 homes and a collection of amenities.
All 25 units will come with full-height windows, oak flooring, open-concept living spaces, in-unit washer/dryers, and name-brand appliances. Building amenities will include a fitness club connected to an outdoor courtyard, a roof garden, bike storage, and general storage space for purchase.
The façade will feature a mix of flecked stone slabs, red brick masonry on the uppermost levels, and recessed glass railings that frame the building’s roof deck and fitness center terrace.
Maxim Capital Group provided the two-year loan, which comes with two six-month extension options. The package will cover the remaining costs of construction and the condominium’s unsold inventory. Cushman & Wakefield represented Fine Properties of New York in the transaction.
“The property benefits from its premier location at the coveted intersection of Chelsea, the West Village, and the Meatpacking District, surrounded by some of the city’s best retail and dining destinations,” said Lauren Kaufman, a senior director at Cushman & Wakefield. “We were pleased to connect our client with Maxim, who executed seamlessly in volatile market conditions and is the right lender to see this project through completion.”
Following a slight delay in construction progress, the project team has not announced a newly expected date of completion.
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A Fine Mess.
Does this look like Sarajevo on purpose?