Citizens money to help finance first Stamford loft development.Citizens Bank, a division of Royal Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba , announced that it has provided $25 million for construction financing for The Metropolitan located at 1515 Summer Street in Stamford, CT. The project is being developed by Seth G. Weinstein, principal of Hannah Real Estate Investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. , the Stamford based property development and investment company, Paxton and Ray Kinol of Stillwater Investment Management and Summer Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The Metropolitan will provide Stamford's first urban loft experience by converting an empty 66,000 square foot office building into 39 luxury 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. Residences. 12 extraordinary brick and stone Town Homes will be built adjacent to the main building. Conversion of under-utilized office buildings to residential uses has been a trend in Manhattan, but The Metropolitan represents one of the very first projects of this kind in Stamford. "We are grateful to Citizens Bank for providing the financing to bring to Stamford this most sophisticated living experience," said Weinstein. "It is wonderful to have a financial partner that shares our confidence and enthusiasm not only for the project, but also for this market." Redevelopment of The Metropolitan began in July with condominium occupancy planned for early 2007. This will put The Metropolitan far ahead of the competition in Stamford among planned luxury downtown condominium developments. The striking, new facade of The Metropolitan will be ultra-modern. The building will be completely resurfaced in soft gray tones and fitted with panoramic windows. Residents and their guests will arrive via a new porte-cochere entry. The modern entrance lobby will feature beautiful blue Florentine glass, metallic-colored ceramic tile walls and ceramic flooring. Amenities will include a luxurious Club Room appointed with modern Italian furnishings and fixtures and a top-of-the-line Fitness Center. A new 2,000 square foot commercial office suite will be offered. Incorporated into the project will be two below-market-rate (BMR BMR basal metabolic rate. BMR abbr. basal metabolic rate BMR, n See basal metabolic rate. BMR basal metabolic rate. ) units. These BMR residences will be made available through Stamford's affordable housing program. Twelve town homes evocative of 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 or London will be built adjacent to the main building. Of a quality unparalleled in Stamford, these luxurious residences will come replete re·plete adj. 1. Abundantly supplied; abounding: a stream replete with trout; an apartment replete with Empire furniture. 2. Filled to satiation; gorged. 3. with spacious kitchens, first floor parlors and open plan living spaces. The quality, boldness, and sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. of the condominium apartment finishes will be carried through the interiors of these elegant town homes. The sales office for The Metropolitan is located at 1500 Summer Street, Stamford, directly across the street from the condominium building. Sales are being handled by the New Homes Division of William Raveis Real Estate and information about The Metropolitan can be obtained by calling 203-940-3908 or by visiting www. stamfordmetropolitan.com. Prices range from $450,000 to $1.65 million for the penthouse penthouse Enclosed area on top of a building. A penthouse can be an apartment on the roof or top floor of a building or a structure on the roof housing the top of an elevator shaft, air-conditioning equipment, or stairs leading to the roof. . Town homes begin $700,000's. |
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