Posted Aug 8, 2018, 8:12 PM
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Join Date: Jan 2009
Location: 360, St. Edwards
Posts: 12,383
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CIM Group closes on $600M loan for Brooklyn high-rise
Quote:
New York City developer CIM Group announced that it had secured a $600 million-plus construction loan for a three-acre, mixed-use high-rise residential project at 85 Jay Street in the Dumbo neighborhood of Brooklyn, New York. J.P. Morgan Chase Bank is providing the loan for the Morris-Adjmi-designed complex, which CIM is developing in partnership with mixed-use, urban developer LIVWRK.
The project's 730 units will be a mix of for-sale condominiums and rental apartments ranging from studios to four-bedroom floor plans and will include 90,000 square feet of retail, parking and amenities such as rooftop pools. The project is expected to be complete in 2021.
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