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257 W. 34th St. 257 W. 34th St./ Google maps

NEW YORK CITY—Pembrook Capital Management closed a $35 million, first mortgage, bridge loan to refinance and recapitalize a new retail and office construction project in the Garment District. The site is located at 257-263 W. 34th St., between Seventh and Eighth avenues, just north of Penn Station.

Although Pembrook would not disclose the borrower’s identity, the Commercial Observer reported that the private equity fund lent $35 million against Churchill Real Estate Holdings’ retail construction project at 259-261 W. 34th St. The article noted that Cornell Realty Management transferred the deed for the property to Churchill this week but no purchase price was listed.

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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