New York City Housing Development Corporation Provides $178.3M Loan For Cypress Hills Development Site

The development site located at 3301 Atlantic Avenue in Cypress Hills has undergone a recent closed transaction. The loan for this property was provided by New York City Housing Development Corporation, with a loan amount of $178,299,057. The landlord of the site is Phipps Houses. The property encompasses a total square footage (BSF) of 398,352 and consists of 403 units.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $178,299,057
• Address: 3301 Atlantic Avenue
• Market: Cypress Hills
• Lender: New York City Housing Development Corporation
• Landlord: Phipps Houses
• BSF: 398,352
• Units: 403

The loan for this transaction was provided by New York City Housing Development Corporation, a key player in the deal. Phipps Houses acted as the landlord in this transaction. The development site at 3301 Atlantic Avenue in Cypress Hills offers a significant opportunity for future development, featuring ample square footage and 403 units.