And while Corus has been an active lender for a number of yearsacross the Hudson River in Manhattan, the funding is the bank'sfirst condominium construction loan in New Jersey. "Expansion intothe New Jersey market is a logical step for us," says Timothy J.Stodder, first vice president of Corus Bank. "With our experiencewith lending in major markets across the country, we recognized theattractive conditions in the Jersey City market and quicklystructured, approved and closed this loan."
Currently under construction, the 19-story Montgomery Greenewill contain a total of 113 luxury residential units, along with3,700 sf of retail space and a 123-space parking garage. It'slocated near the waterfront in this city's Paulus Hook section,across from Lower Manhattan.
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