July 26, 2010
\nBy Allison Landa, News Editor<\/p>\n
Commercial real estate investment management firm Pembrook Capital Management has provided a $47.1 million, 24-month fixed-rate loan to recapitalize 100 11th Street in Manhattan\u2019s Chelsea neighborhood. <\/p>\n
The condominiums have been completed and 26 of 54 units sold. The loan was closed within three weeks from the date the owners signed the loan application.<\/p>\n
100 11th Street is a 23-story tower designed by French architect Jean Nouvel. It sits at the intersection of 19th Street and the West Side Highway along the Hudson River. <\/p>\n
\u201cWe are very pleased to be able to play a pivotal role in the ongoing success of such a beautiful addition to the Manhattan skyline,\u201d Pembrook founder and CEO Stuart Boesky said when announcing the news. He added that the transaction was originated by Los Angeles-based employee Jonathan Schurgin, who worked with Meridian Capital to make the deal happen.<\/p>\n
Pembrook provides capital to developers and owners of real estate on a national basis through the acquisition and\/or origination of real estate debt and equity. The firm also participates in the distressed debt markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
The condominiums have been completed and 26 of 54 units sold. The loan was closed within three weeks from the date the owners signed the loan application.<\/p>\n","protected":false},"author":936,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,10],"tags":[],"class_list":["post-1004021845","post","type-post","status-publish","format-standard","hentry","category-finance","category-latest","category-northeast"],"acf":[],"yoast_head":"\n