Gilbane Development obtained financing of $116M from NEW YORK CITY HOUSING DEVELOPMENT

Gilbane Development through the entity PENINSULA BUILDING 1B LLC as borrower signed a loan agreement with lender NEW YORK CITY HOUSING DEVELOPMENT valued at $116.4 million for 1 parcel, including the tax class non-residential vacant land (VN) at 720 Tiffany Street aka 1201 SPOFFORD AVENUE in Hunts Point. The deal closed on June 27, 2019 and was recorded on July 15, 2019.

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