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The GEM Hotel, 300 W. 22nd St./ Image: Google Maps The GEM Hotel, 300 W. 22nd St./ Image: Google Maps

NEW YORK CITY—Icon Realty Management closed on $30.5 million in refinancing provided by Madison Realty Capital. The loan is collateralized by the GEM Hotel at 300 W. 22nd St. in Manhattan’s Chelsea neighborhood. The funds refinance previous debt and will be used to reposition the hotel with marketing, updated branding and property improvements.

Betsy Kim

Betsy Kim is 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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