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$8m construction loan is plain sailing for bank.


Builders Bank has provided $8,700,000 to partially finance costs related to the refinance Refinance

1. When a business or person revises their payment schedule for repaying debt.

2. Replacing an older loan with a new loan offering better terms.

Notes:
When a business refinances they typically extend the maturity date.
, development and construction of a new three-story condominium condominium

In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common.
 and marina complex in the Country Club section of Bronx, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
.

The property is a 2.83+/- acre site located in a stable residential community in the Bronx known as Country Club.

The proposed improvements shall include a three-story luxury condominium and marina complex consisting of 36 residential units, 36 boat slips, 43 parking spaces, and a 4,257 s/f community facility.

The condo units will be broken down into one two, three and four bedroom/four bath units.

Ronald Bryant, Builders Bank senior vice president, arranged the financing along with vice president and credit manager, John Daly John Daly is the name of:
  • John Charles Daly, veteran radio & TV newsman and television host on What's My Line?
  • John Daly (athlete), a British athlete who won an Olympic silver medal.
  • John Daly (golfer), a professional golfer on the PGA Tour.
.
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Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Title Annotation:FINANCE
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Apr 26, 2006
Words:123
Previous Article:Builders Bank.
Next Article:New Sterling fund poised for action after $286m deployment.
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