NEW YORK CITY–Mesa West Capital has provided Benchmark Real Estate Group with a $17 million first mortgage loan to facilitate the acquisition and repositioning of a West Village mixed-use apartment building. The financing was brokered by Jon Estreich, principal and Chris Barnet, broker, Estreich & Co. Inc.
The loan was secured by 455-457 Hudson, a six-story, 26,400 gross square-foot mixed-use apartment building containing 38 residential units and 2 retail stores. Part of the loan proceeds have been earmarked to allow Benchmark to immediately begin in-unit and base building upgrades, in order to to improve the building's marketability.
Over the past 24 months, Benchmark has acquired approximately a dozen properties with an aggregate value of nearly $200 million. This is Mesa West's second financing with Benchmark. In December 2012, Mesa West funded a $32 million loan for Benchmark's acquisition of a 94-unit rental building in the Gramercy Park submarket of Manhattan.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
