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Boston Industrial

FHA Warriors

Friday was a day of celebration in East New York, Brooklyn, where more than 45 low- and moderate-income families were in danger of losing FHA loans needed to purchase new homes at MeadowWood at Gateway for little money down and low-interest mortgages. Here's Taconic Investment Partners' Peter Febo, Ed Towns, Fillmore Real Estate's John Reinhardt, and Marty Markowitz with three of the buyers. Earlier this year, the condo community was approved to offer FHA-insured loans to buyers, but a discrepancy between FHA guidelines and those of the NYS's Division of Housing and Community Renewal guidelines put the loans in jeopardy. After lengthy negotiations, the loans were re-instated, thanks to Congressman Ed Towns, Taconic Investment Partners, and Fillmore Real Estate, with the help of NY State Senator John Sampson and Brooklyn Borough prez Marty Markowitz.

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