Square Mile Capital and Pacific Western Bank are set to provide $183 million in construction financing for a 12-story mixed-use property at 258-278 Eighth Avenue in Chelsea, Manhattan. A new Target retail store will occupy 28,000 square feet of the building’s lower levels. Above these floors, the development will house 190 rental apartments and associated amenities.
258-278 8th Avenue
A new rendering reveals what appears to be a 12-story glass commercial tower at 278 8th Avenue in Chelsea, Manhattan. The 40,000-square-foot property extends from West 23rd Street to West 24th Street and is owned by JJ Operating, who purchased 258-278 8th Avenue for $107 million in 2017.