A Big Project Actually Gets Financing!


More than a year after we first reported that a joint partnership that included Manhattan-based LCOR, CalSTERS and, ahem, Lehman Brothers had stepped up to buy a large development site at the corner of Berry and N. 12th Streets in W'burg, the group announced that it had secured a $33 million construction loan for the 142-unit rental project. Enough work was done on the foundation before June 30th that the development is grandfathered under 421-a. GMAP

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