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TUESDAY, MAY

ny

2, 2006

covering all of

REPRINTED FROM THE

NEW YORK

long island, new york city and upstate new york

DEVELOPMENT TEAM IS PALINS OF PALM ENTERPRISES AND HERSCO OF UNITED HOMES

Titan Capital funds $25m pre-construction land loan for 220,000 s/f tower project BROOKLYN, NY On April 5th a groundbreaking ceremony took place at 306 Gold Street in Brooklyn. The property will be developed with a thirty-five story, 220,000 square foot tower. This tower will have 214 luxury residential units as well as ground level commercial usage and on site garage parking. The luxury residential units are expected to bring in a premium price because of the views and convenience to downtown Manhattan. The developers have already broken ground on the identical tower adjacent to the property this past January. The towers will be the largest of their kind in all of Brooklyn. The development team behind the groundbreaking is comprised of Mickey and Dean Palin of Palin Enter-

Rendering, 306 Gold St., Brooklyn.

Shown (from left) are: David Saferstein, Titan Capital; Ira Saferstein, Titan Capital; Dean Palin, Palin Enterprises; Ron Hershco, United Homes; and Brooklyn borough president Marty Markowitz.

prises and Ron Hershco of United Homes. Along with numerous real estate professionals, the event attracted prominent New Yorkers such as Brooklyn Borough President Marty Markowitz, Mayor Michael

Bloomberg, and Guardian Angels founder Curtis Sliwa. This landmark project was made possible in part due to a $25 million acquisition loan from Titan Capital. The development team sought a deal

from Titan Capital and Titan’s president Ira Saferstein because of the company’s long standing reputation for reliability and execution. Titan Capital was able to close this loan in just ten days.

Tel: 781-878-4540 / Fax: 781-871-1853 / 800-654-4993 / nerej@rejournal.com / www.rejournal.com

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