Catsimatidis’s Red Apple Group secures $155M in loans for Myrtle Ave. project
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John Catsimatidis’ Red Apple Group secured $155 million in loans for its development at 86 Fleet Place in Brooklyn, according to property records filed with the city today.
Bank of America provided a $137 million building loan and a $18 million project loan.
Catsimatidis filed plans for the 32-story tower — part of a four-building development by Red Apple on Myrtle Avenue in Brooklyn — in September.
The Goldstein, Hill and West-designed building is slated to stand 346 feet tall, with 400 apartments and retail space across nearly 400,000 square feet.
In a prior interview with The Real Deal, Catsimatidis called the neighborhood a “win-win area.”
Red Apple is also developing the Andrea at 218 Myrtle Avenue, 81 Fleet Place and 180 Myrtle Avenue, all located across from MetroTech Center.
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http://therealdeal.com/blog/2015/04/...e-ave-project/