A persistent rumor regarding the expansion of Chelsea Market, where Jamestown Properties plans to add glassy offices and hotel rooms to the existing historic structure, was that Jamestown actually hoped to get approvals for the expansion and then sell the project. But Jamestown promises Chelsea Now that no flip is planned. In fact, the company has just signed a seven-year mortgage for the property. "If you were having this argument a year ago I would buy all of that. But now concrete things have happened that have made that a huge improbability," Jamestown's managing director says. Which doesn't mean there aren't still issues. [Chelsea Now; previously]
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