CBRE secures loan for First Avenue luxury condo.Keith Braddish, managing director, along with vice president Jason Gaccione, both of CBRE's Capital Markets group in 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 , have secured a $19.2 million loan on behalf of Bluerock Real Estate, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to facilitate the land acquisition and pre-development of a 51-foot by 100-foot land parcel at 1355 First Avenue. The bridge facility was structured on an interest-only, non-recourse basis, with a competitive rate over LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). . 1355 First Avenue is located within one of Manhattan's premier residential neighborhoods, mid-block on First Avenue between 72nd and 73rd Streets. Development plans for the site consist of a 34-story, ultra-luxury boutique style 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. building containing approximately 100,000 s/f. Ownership envisions primarily large full-floor family sized apartments. "This is the third major residential condominium development undertaken by Bluerock Real Estate within the past 24 months," Keith said. "They are currently building two major condominium developments along Miami Beach Miami Beach, city (1990 pop. 92,639), Dade co., SE Fla., on an island between Biscayne Bay and the Atlantic Ocean; inc. 1915. It is connected to Miami by four causeways. , which are both substantially pre-sold." |
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