HSBC, Pru Score $200M of Apartment Refis

NEW YORK CITY-In two separate transactions, HSBC Bank USA and Prudential Mortgage Capital Co. have provided about $200 million in Manhattan multifamily financings since the beginning of this week. HSBC’s $130-million refinancing, arranged by HFF, was for the Capitol at Chelsea, while PMCC provided $71 million in financing for Olympia House. Both loans are for seven years.

Completed in 2001, the 38-story Capitol at Chelsea was developed by the Witkoff Group, which sold it for $190 million in 2002 to its current ownership, a group of institutional investors advised by J.P. Morgan Asset Management. It’s located at 55 W. 26h St. in Manhattan’s Chelsea neighborhood, and contains 387 rental units, 67,329 square feet of retail and office space and a 140-space parking garage.