80 Metropolitan gets FHA approval
New Williamsburg condominium 80 Metropolitan has been approved for Federal Housing Administration financing, according to a press release sent on behalf of the developer, Steiner NYC, which will allow buyers to make down payments as small as 3.5 percent. The development, which is 50 percent sold, is being marketed by Halstead Property and features 114 loft residences and nine townhouse style homes.
Community groups protest NYU zoning exemption
The New York City Board of Standards and Appeals approved zoning exemptions that will allow New York University to build its proposed spiritual center at the intersection of Washington Square South, West 3rd Street and Thompson Street. Several community advocacy groups are protesting the move, including the Greenwich Village Society for Historic Preservation, which released a written statement today denouncing the decision. The school does not have a “programmatic need” to justify the construction, according to the historical group, which feels the proposed facility could result in a blight on the community.
Metropolitan Realty gets $23.5M in financing
Metropolitan Realty Associates and its equity partner Angelo Gordon & Co. have received $23.5 million in financing for its 188,500-square-foot mixed-use Garden City development, according to a press release sent today by Metropolitan. The development, which Metropolitan purchased in 2005, completed its total renovation in January 2007. Tenants at the complex include Lifetime Brands, Home Medical Equipment and Nassau Community College. TRD