Quinlan Development signs $35.7M construction loan with CIT Bank for 142-unit project in Clinton Hill

May 21, 2021 7:51 am

Quinlan Development Group through the entity 230 Classon Development LLC as borrower signed a new construction loan with lender CIT Bank valued at $35.7 million for 230 Classon Avenue in Clinton Hill, Brooklyn.
The deal closed on April 29, 2021 and was recorded on May 20, 2021.
(321195684) Plans for a 142-unit, 119,307 square-foot R-2 were filed on September 30, 2016. The loan price per buildable square foot is $299 per the PincusCo analysis.
The signatory for Quinlan Development Group was Timothy Quinlan.

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