Silverstein Properties signs $14.6M refi with M&T Bank for rental units in Hell’s Kitchen

Silverstein Properties through the entity River Place II Ch LLC as borrower signed a refi loan with lender M&T Bank through the entity Manufacturers And Traders Trust Company valued at $14.6 million for the 107-unit commercial condo (CC) at 533 11th Avenue in Hell’s Kitchen, Manhattan.
The deal closed on November 1, 2021 and was recorded on November 16, 2021.
The property has 76,582 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $190 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Silverstein Properties was Michael Levy.

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