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NEW YORK CITY — Pembrook Capital Management has provided $47.1 million for the recapitalization of a residential condominium project located in Manhattan's Chelsea neighborhood. The loan carries a 2-year term and a fixed interest rate. Construction for the 54-unit project, which is located at 100 11th Ave., is complete and 26 of the units have been sold. Pembrook's Jonathan Schurgin originated the loan. Assistance was provided by Meridian Capital.