CPC loan funds condo project.A new construction in the Sheeps-head Bay area of Brooklyn Brooklyn (br  k`lĭn), borough of New York City (1990 pop. 2,300,664), 71 sq mi (184 sq km), coextensive with Kings co., SE N.Y. is being
built using fuuds from a construction loan from the Community
Preservation Corporation.
The new construction is an eight-story; elevator elevator, in machinery elevator, in machinery, device for transporting people or goods from one level to another. The term is applied to the enclosed structures as well as the open platforms used to provide vertical transportation in buildings, large ships, building that will contain seven units to be sold as condominiums. Each three-bedroom apartment will access the elevator via an entrance in its foyer, and will take up the entire floor. The building will also provide ground level parking, addressing a major concern for residents of this area. Located on Ocean Avenue in Brooklyn, the building is one of many new condominiums being erected in the area The borrower BORROWER, contracts. He to whom a thing is lent at his request. 2. The contract of loan confers rights, and imposes duties on the borrower' 1. In general, he has the right to use the thing borrowed, during the time and for the purpose intended between the , a four-member corporation with ties to the business and legal fields, purchased the property for $585,000 in March of 2003. This is their first development project, and the $1.3 million loan they have secured from CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. will cover most of the construction costs. The borrower has already invested 30% equity and has provided a 10% letter of credit. |
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