Mission Capital Secures $21M Acquisition, Construction Loan for Condo Conversion in Chelsea
NEW YORK CITY — Mission Capital Advisors has secured $21 million in non-recourse acquisition and construction financing for a luxury, six-unit condo conversion in the Chelsea neighborhood of Manhattan. Located at 214-216 W. 15th St., the property is a former nursery school. Once completed, the residences will feature 10-foot ceilings, private balconies, and modern kitchens. Raymond Salameh, Ari Hirt, Steven Buchwald, and Lexington Henn of Mission Capital represented developer Holliswood Development in securing financing from a Philadelphia-based debt fund. Terms of the financing were not disclosed.