Posted Oct 8, 2015, 8:40 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
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Benenson, Rose seek $158M construction loan for DoBro tower
Quote:
Benenson Capital Partners and Rose Associates are in line to receive a $158 million construction loan for their upcoming Downtown Brooklyn tower.
The state’s Housing Finance Agency plans to issue bonds for the construction of the 25-story, 368-unit apartment tower at 210 Livingston Street, which JPMorgan will purchase.
Benenson and Rose reckon the tower will cost roughly $236 million to develop. That figure includes hard and soft costs and a developer fee of $4 million. In exchange for the bond financing, the partners agreed to set aside 20 percent of the building’s apartments as affordable housing.
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http://therealdeal.com/blog/2015/10/....CCDkFlxV.dpuf
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