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New York Community Bancorp, Inc To Acquire Flagstar Bancorp, Inc In An All Stock Strategic Merger
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Grant Cardone, CEO Cardone Capital, Lands Another Popular South Florida Apartment Community
April 21, 2021 GMT
04/21/2021, Miami, FL // KISSPR //
Real estate investment firm, Cardone Capital LLC, announces their acquisition of Bask in Harbor Park, a 310-unit luxury apartment community situated along Fort Lauderdale’s fast growing 17th Street corridor. This acquisition is part of the firm’s strategy to provide investors with the opportunity to participate in institutional grade real estate deals in high-growth markets.
The eight-story apartment complex comprises one and two bedroom apartments with an average size of 1,074 square feet, 12’ ceilings in select units, and 28,000 square feet of space dedicated to the property’s resort-like amenities.
Grant Cardone, CEO Cardone Capital, Lands Another Popular South Florida Apartment Community
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3) Bevelled LIC | Queens | $98 million
Rabsky Group nabbed this loan from Arbor Realty Trust for the Bevel luxury apartment complex at 42-22 27th Street, Long Island City. The 18-story, 202-unit building was originally planned as 99 units.
4) Bet on warehouse | Brooklyn | $75.4 million
Thor Equities secured this construction loan for its project to develop a 312,000-square-foot warehouse at 280 Richards Street in Red Hook. Amazon has signed a 20-year lease for the property. Issued by Athene Annuity and Life Company, the loan will be converted into a permanent loan upon completion of construction.
5) Extending shelf life | Brooklyn | $63.7 million
The developers of a condo complex at 111 Montgomery Street in Crown Heights, CIM Group and LIVWRK, secured this inventory loan for 157 units from Oaktree Capital Management. In 2018, the developers projected a $150 million sellout for the 163 units at the complex. Proceeds from the loan will pay off existing construction and project loa
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Only two loans worth more than $100 million for the acquisitions of 265-275 Cherry Street and 15 Park Row in Lower Manhattan were recorded in February. (WikiMedia, Asland)
The 10 largest Manhattan loans recorded in February totaled $700 million, a 63 percent decline from January’s total.
Seasonality may have been a factor in the drop in activity, as February was also a slow month for real estate lending in 2019 and 2020. This February wasn’t the slowest month since the start of the pandemic, however that was August, when the top 10 Manhattan real estate loans totaled just $428 million.
As was the case in August, lending volume in the outer boroughs was actually greater than in Manhattan last month. Only two loans worth more than $100 million were recorded in the borough in February: a pair of acquisition loans for properties in Lower Manhattan.
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