NEW YORK CITY-Four loans worth $18.75 million on a delayed development site in the United Nations market are up for sale to investors.
The development site includes commercial, residential and retail properties located at 305 East 44th Street, 302 East 45th Street, 844 Second Avenue and 303 East 44th Street. Two of the properties up for sale are ready for development. The interest rate on the four loans is 7% and the expiry date for the loans is January 2012.For the full story, go to New York Observer.
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