Cases & Deals

Citibank purchases bonds issued by New York City Housing Development for construction of 32-story residential project

Clients Citibank, N.A.

Jones Day represented Citibank, N.A. in its role as direct purchaser of approximately $72.7 million of Tax-Exempt Bonds issued by the New York City Housing Development Corporation to finance the construction of a 32-story residential project in Long Island City, New York. The project will be comprised of a residential rental apartment building containing approximately 306 units (62 of which will be made available to low-income tenants), and approximately 2,937 square feet of commercial space. Citibank will act as servicing agent to service and administer the disbursement of the bond proceeds along with a $22.3 million loan from the The City of New York, acting by and through its Department of Housing Preservation and Development.

We use cookies to deliver our online services. Details of the cookies and other tracking technologies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you consent to our use of cookies.