Thursday, March 08, 2007

Magic Johnson backs Brooklyn condo project

Interesting project in Greenpoint being financed by the former Lakers player.
Basketball legend Earvin "Magic" Johnson and his joint-venture partner, Canyon -Johnson Urban Fund, will provide $12.4 million of financing to help build a 130-unit condominium project in the growing Greenpoint section of Brooklyn.

The Green Street project will offer one-, two- and three-bedroom units, targeted at single professionals or young families who cannot afford Manhattan real estate prices. Bank of New York has provided a $41 million loan for the project.

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