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Lender wins Chelsea Museum building with $11M defaulted mortgage

Chelsea Art Museum

Midtown South-based investment firm Hudson Realty Capital took control of a commercial building that is the home to the Chelsea Art Museum.

Former owner Dorothea Keeser relinquished the property located at 556-564 West 22nd Street through a deed in-lieu-of-foreclosure on Wednesday, city property records published today show.

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Hudson Realty Capital had been holding a delinquent mortgage with a face value of $11.1 million that was agreed to in 2008. It sued to foreclose on that mortgage in 2009, state court records show.

City records showed no payment in the transfer of the property at 22nd Street and 11th Avenue, but the deed was assigned a document amount of $13.44 million. TRD

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