CIT Group Arranges $45M Construction Loan for Condominium Project in Tribeca
NEW YORK CITY — CIT Group has arranged a $45 million construction loan for a nine-story, mixed-use condominium project in the Tribeca neighborhood of Manhattan. The project will be called The Cast Iron House and will consist of 13 condominium units as well as ground-floor retail. The financing will fund the development and restoration of the property. CIT arranged financing for the borrower, 361 Broadway Associates Holdings LLC, through and undisclosed lender.