TF Cornerstone borrows $30M from Brighthouse Life Insurance for property in Chelsea

TF Cornerstone through the entity 252 Seventh SPE Owner LLC as borrower signed a loan agreement with lender Brighthouse Life Insurance Company valued at $30.0 million for 5 parcels, including the tax class commercial condominium unit (R5) at 252 Seventh Avenue in Chelsea. The deal closed on December 17, 2019 and was recorded on December 18, 2019.

Brighthouse assumed the $30 million in debt JPMorgan Chase provided in 2017.

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