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CORUS BANK SECURES $27.5 MILLION CONSTRUCTION LOAN FOR CONDO PROJECT

NEW YORK CITY — Corus Bank has secured a $27.5 million construction loan for Irving Place, an 11-story luxury condominium building located in the Gramercy Park neighborhood of Manhattan, New York City. The project will comprise 9 residential units totaling approximately 31,000 square feet of residential space. The borrower was Madison Equities. Terms of the loan were not disclosed.

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