MAG Partners Refi for The Mabel in Chelsea

MAG Partners, in partnership with Safanad, has closed on a $148.7 million bridge loan from Goldman Sachs Alternatives to refinance a construction loan for The Mabel in Chelsea. The property is located at 335 Eighth Avenue.

The Mabel is a 188-unit mixed-income residential building designed by CookFox, with 25,000 square feet of indoor and outdoor amenities including coworking and workout areas. The ground-floor includes 23,000 square feet of grocery retail space leased to Lidl. The building is nearly 100% leased less than one year after construction finished.