An $85M pre-development loan that Chetrit Group secured for a property on West 37th  Street that is part of the Hudson Yards mega-development has been put on the market by the lender, who has declared Chetrit in default.

Chetrit acquired the financial package, which originally included a $54M senior loan and a $31M mezzanine loan,  for 545 West 37th Street from JPMorgan Chase and Mack Real Estate Credit Strategies in 2018.

Jack Rogers



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