Churchill House community courtyard before and after!

Churchill House
Harlem, New York, NY
14-Story Multi-Family Dwelling

September 15th we paid off the construction loan and closed the permanent debt financing on the $14 million Churchill transaction in NYC. The total debt amount includes bond financed Senior Note and a Subordinate IRP Decoupled Note. The property is 100% occupied, has a new 20 year Sec 8 contract, and the rehabilitation of the property has been complete for several months. We delivered everything we said we would and in fact delivered everything months ahead of schedule. Several KBK team members were involved, but special mention goes to Dave Scott for overseeing the rehab in NY, and Jessica Holman in keeping the loan closing, equity installments, and other documents moving efficiently.

Newburgh, NY
KBK Enterprises is still in the process of developing Burton Towers in Newburgh, NY. Burton Towers is a 126-unit, 8 story senior facility. We are planning to have this project designed and financed in early 2010. This project is estimated at $15million.

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