Posted Jul 17, 2015, 3:41 AM
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Homo sapiens sapiens
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Join Date: May 2012
Location: 3rd planet from the Sun
Posts: 1,666
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NEW YORK | 222 E 44th St (Summit)| 556 FT | 42 FLOORS
Greystone Bassuk Closes $254M Bank of China Loan Facility for 222 East 44th Street
BY DANIELLE BALBI JULY 16, 2015, 3:50 P.M.
Quote:
New York-based BLDG Management Company landed a rare, long-term financing for the development of an 80/20 property at 222 East 44th Street, in a deal brokered by The Greystone Bassuk Group, several sources told Commercial Observer.
Bank of China provided a 10-year, $254 million construction-to-permanent loan facility for the Midtown East multifamily development, which extends a full block between Second and Third Avenues, according to the brokers and sponsor.
The site will house a 43-story apartment tower with a multilevel parking garage and ground-floor retail space once the building is completed in 2017. The property, which is being financed under the 80/20 Housing Program, will contain 342 residential units at market-rate rent and 87 affordable units for households earning 60 percent of the New York City area median income or under.
The 441,000-square-foot tower will feature various amenities, including concierge and valet services, an indoor swimming pool, and other common areas.
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Part of the old design competition:
Vision: 222 East 44th Street, Three Different Designs By Kaufman For Midtown East Residential Tower
BY: NIKOLAI FEDAK 7:00 AM ON FEBRUARY 12, 2015
Building App:
Last edited by Urbannizer; Apr 23, 2019 at 6:41 AM.
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