NEW YORK CITY-FLAnk, a condominium developer, had signed a contract with VillageCare to buy a former assisted living facility in the West Village for more than $33 million in 2007. Now the developer has completed the acquisition of the building situated on West 12th and Hudson streets for less than $33.3 million.
FLAnk has obtained construction financing from M&T Bank and Quinlan Development Group to change the property into a 10-condo building with 3,300-square-foot to 9,000-square-foot units. For the full story, go to Wall Street Journal.
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