NEW YORK CITY-In two separate transactions, HSBC BankUSA and Prudential Mortgage Capital Co.have provided about $200 million in Manhattan multifamilyfinancings since the beginning of this week. HSBC’s $130-millionrefinancing, arranged by HFF, was for the Capitolat Chelsea, while PMCC provided $71 million in financing forOlympia House. Both loans are for seven years.

Completed in 2001, the 38-story Capitol at Chelsea was developedby the Witkoff Group, which sold it for $190million in 2002 to its current ownership, a group of institutionalinvestors 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 andoffice space and a 140-space parking garage.

The HFF team representing the J.P. Morgan group was led bysenior managing director Whit Wilcox and associatedirector Jennifer Keller. “This transactionreflects an interesting inflexion point in the debt markets atwhich swapped bank deals prove formidable competition to othertraditional fixed-rate debt sources,” Keller says in a release.