(To read more on the debt and equity markets and themultifamily market, click here.)
NEW YORK CITY-A joint venture has closed on a $203.6-millionconstruction loan for a project at 101 West 24th St. LCORResidential LLC and a West Coast pension fund plan to construct a204-unit, 323,100-sf residential condominium on the site.
The project will be located on Avenue of the Americas between24th and 25th streets in Chelsea. It is expected to be deliveredsometime in 2007. The firm is also working on another condominiumproject that is also expected to be delivered in the sametimeframe. Not even 30 days ago, the firm received approval for a$159.4-million construction loan for the Charleston located at 225East 34th St. The 91-unit, 251,600-sf project will be located on34th Street between Second and Third avenues.
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