Meehan of Greystone provides $30 million in Freddie Mac funding for Sloane Chelsea

Manhattan, NY Greystone closed a $30 milliion Freddie Mac conventional loan for Sloane Chelsea, a 266-unit high-rise multifamily property located at 360 West 34^th St. The financing was originated by Robert Meehan, managing director at Greystone.

Originally constructed in 1930 and fully renovated in 1996, Sloane Chelsea offers a mix of studio, one-, two- and three-bedroom units, along with upscale amenities including a fitness center, laundry facilities, private storage, and 24-hour attended lobby. Upgrades to the property include renovations to 180 units and planned elevator modernization. The property is in Chelsea, close to Penn Station, Madison Square Garden, and major retail and transit hubs.

“Sloane Chelsea is a prime example of long-term ownership and stewardship of a historic New York asset,” said Meehan. “We’re pleased to support the Kibel and Gardner families with a financing solution that allows them to continue enhancing the property’s value while preserving financial flexibility.”