$25m loans aid NYC redevelopment projects.Commerce Bank continues to support local commercial and residential development and to structure custom financing solutions for New York clients Commerce acted as agent bank in providing a $17,650,000 construction loan Construction loan A short-term loan to finance building costs. for Coney coney or cony (both: kō`nē), name used for the rabbit (Oryctolagus) and for its fur; more often, for the pika, a small rodent found at high altitudes in both hemispheres; and for the hyrax, a small herbivorous, hoofed animal of Africa and SW Asia. on the Park L.L.C. to develop 59 residential units and 30 underground parking spaces at 350 Coney Island Coney Island (kō`nē), beach resort, amusement center, and neighborhood of S Brooklyn borough of New York City, SE N.Y., on the Atlantic Ocean. The tidal creek that once separated the island from the mainland has been filled in, making the area a peninsula. A seaside resort from the middle of the 19th cent. Avenue in Brooklyn, N.Y. Upon completion, the structure will have nine stories and be sold primarily as two- and three-bedroom units. The architect is Bricolage Designs, A.I.A. Commerce also provided an $8,000,000 construction loan to 1 East 3 Street Realty L.L.C. for the development of a 13-story, 43-unit rental apartment building located at 81-83 West Third Street in New York, N.Y. |
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