KSL Capital Partners

Arnold & Porter Kaye Scholer, registered as Ny 28th Street LLC, secured a $112.5 million refinance loan from KSL Capital Partners, through Lipan Investments, LLC, for the hotel building at 140 West 28th Street in Chelsea, Manhattan. The deal saw the prior lender, Bank OZK, replaced. The property, purchased on September 30, 2020, for $147.4 million, spans 217,166 square feet with a loan price of $518 per square foot. The hotel development, in Chelsea, features a 531-unit, 146,630 square-foot building, with additional projects on the tax block.