Adam America Real Estate recently secured two loans totaling $63 million for an Upper West Side development that’s been in the works for several years. An entity tied to MSD Partners issued a $37.8 million construction loan and a $25.2 million project loan for the property at 2503-2509 Broadway. The company was formed by the partners of MSD Capital, a private investment firm founded by tech billionaire Michael Dell. An entity tied to MSD Capital
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Sales of new, single-family homes ebbed last month, but are still far ahead of where they were a year ago. October sales fell to a seasonally adjusted annual rate of 999,000, a 0.3 percent drop from September’s revised estimate of 1.002 million. But home sales are still up 41 percent from a year ago, according to government data. Americans are continuing to take advantage of record-low mortgage rates to buy new homes, squeezing existing supply.
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