Catholic Homes New York Secures $109.2M Construction Loan For Mott Haven Residential Project

Catholic Homes New York has successfully obtained $109.2 million in financing for its residential project located at 799 E 152 St in Mott Haven. The development site is set to undergo construction with the assistance of a $47.4 million loan from TD Bank, in addition to $61.8 million in tax credits and subsidies provided by HUD and the New York State Housing Finance Agency.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $109,200,000
• Lender: New York State Housing Finance Agency & TD Bank
• Landlord: Catholic Homes New York - Johanna C. Kletter

This funding will enable Catholic Homes New York to proceed with the development of their residential project in Mott Haven. The loan from TD Bank, along with the support of government tax credits and subsidies, will facilitate the construction process and contribute to the realization of the project. With the financial backing provided by various sources, Catholic Homes New York aims to deliver a high-quality residential development that meets the needs of the community.