Developer of Bed-Stuy condo project nabs $55M loan

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Victor Group and lendlease development planning 55-story tower with residences, retail space north of Madison Square Park. A development group has secured $369 million in financing for a luxury condominium project north of Manhattan’s Madison Square Park, despite a slowing market for condo sales in New York. Victor Group.

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Development | The Bed Stuy Blog – Buying Boom Continues in Bed Stuy. The average selling price for Bed Stuy properties is $874K, up 21 percent from last year. The median price is $850K. Condo prices average at $651K, a 15 percent jump from last year. Three-family homes average at $937K, up 25 percent.

condominium tower, as has previously been reported. The neighboring parcels of land that are slated for condo development are located between East 85th and East 86th Streets, with frontage on First Avenue. Catsimatidis had previously bid $80 million for the site, but Extell beat him out last year, ac-cording to published reports.

Often times these mortgages are called construction loans, rehab loans, home remodeling loan, home improvement loans, or renovation loans. Whatever you want to call it, it is a great home loan.

Lenders Don't Care If Your Project Is In An Opportunity Zone. May 29, 2019. Hotel in West Chelsea Nabs $30.5M Refi From MRC. march 13. madison realty Capital Upsized Bed-Stuy Condo Construction Loan By 0m. june 28. madison realty Capital Provides $55M for Bed-Stuy Mixed-use Development. June 20.

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Rael Development Nabs $55M Construction Loan for Palm Springs Hyatt. The Hyatt Andaz resort, to be developed by Newport Beach, Cali.-based Rael Development, will add 150 rooms to the resort town’s hotel market when it is completed in early 2019. HSF’s interest-only, non-recourse loan will carry a floating interest rate over its three-year term,

 · Developer of Bed-Stuy condo project nabs $55M loan. The developer behind a ground-up condominium development at 948 Myrtle Avenue in Brooklyn has secured a $55 million construction and refinancing loan. Madison Realty Capital on Tuesday confirmed the loan for the 214,000-square-foot mixed-use project, but would not confirm the identity.

May 27, 2015, 6:00am EDT Brian Bandell South Florida Business Journal The developer of a Walgreens store in Delray Beach secured a $3.5 million construction loan from City National Bank of Florida. CBRE’s Jason Hochman represented developer Partners Point in landing the loan from the Miami-based bank.

NEW YORK CITY-The developer of a 214,000 square-foot, mixed-use project to be built at 936 Myrtle Ave., 948 Myrtle Ave. and 258-264 Throop Ave., received a $55 million first mortgage loan from.