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Financing

Gotham lands financing for Hunters Point

Rendering of the complex (Credit: Handel Architects)

Gotham Organization and RiseBoro Community Partnership have secured $446.1 million in city financing for two residential towers at 57-28 Second Street and 1-15 57th Avenue, according to TRD. The Hunters Point South project will span over 968,000 square feet, and contain more than 1000 units. 

  • Worth Noting: The project will set aside 900 residential units for households earning between 30 and 145 percent of area median income.
  • Financing detailsHDC provided a $311 million construction loan, $229 of which is a participation loan with Wells Fargo and JP Morgan Chase. HPD supplied an additional $134.4 million in financing.

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