Commercial Observer reports RedSky Capital and JZ Capital Partners are planning to develop a 40-story mixed-use tower at the roughly 122,200 square-foot property at 18 India Street, on Greenpoint’s waterfront. The site boasts 652,000 square feet of mixed-use development rights, and demolition will commence on the existing warehouse building once leases expire in early 2016. CIT Real Estate Finance recently provided a $57.5 million bridge loan until a construction loan can be obtained.
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