Little Italy RestorationApartments at 21 Spring Street.
NEW YORK CITY- LIHC Investment Group and Rockport MortgageCorporation have landed a $74 million FHA Section 223(f)refinancing loan to maintain the affordability of the Little ItalyRestoration Apartments located at 21 Spring St. in Manhattan.
At the loan closing, LIHC and HUD entered into a new 20-yearSection 8 contract and agreed to further extend the number of yearsremaining on the prior Section 8 contract. In total, this agreementwill extend the property's Section 8 status through 2043.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
