• News

    Stay on top of past and present CIT announcements by reading our press releases.


  • pdf print email rss
    CIT Provides $60 Million In Financing To Edward J. Minskoff Equities, Inc.
    Facility Used for Development of New Residential Building in New York, NY
    Tuesday, August 15, 2017 11:00 AM

    NEW YORK, Aug. 15, 2017 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided a $60 million senior secured construction loan to Edward J. Minskoff Equities, Inc. (Minskoff Equities), a privately held real estate investment and development firm. Proceeds from the facility will be used towards the development of a six-story, seven-unit luxury for-sale residential condominium located at 17 Jane Street in New York, NY. 

    CIT logo

    Edward J. Minskoff, president of Edward J. Minskoff Equities, Inc., said: "The CIT team was responsive, efficient and extremely knowledgeable, which ultimately led to a proposal that met our needs and brought to light the true value proposition of this amazing property. With the financing now secured, we can begin work immediately and attempt to stay within our timeline projections.  l look forward to working with CIT's Real Estate team on future projects."

    Matt Galligan, president of CIT's Real Estate Finance business, said: "We are pleased to see the financing on this project come to fruition.  The West Village is one of the most premier, sought-after neighborhoods in New York City. The transaction is representative of our targeted efforts to provide secure, low-leverage financing to developers in vibrant cities across the U.S., and we look forward to a long-lasting relationship with Mr. Minskoff and his team, who hold a distinguished portfolio of developments throughout Manhattan."

    EDITOR'S NOTE:
    CIT thought leadership content can be found at the Knowledge Center on CIT.com (cit.com/knowledgecenter) and our CIT Point of View blog (cit.com/pov). Follow us on Twitter, LinkedIn, YouTube, and Facebook.

    About CIT
    Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $50 billion in assets as of June 30, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information visit cit.com.

    CIT MEDIA RELATIONS:

    CIT INVESTOR RELATIONS:

    James J. Olecki 

    Barbara Callahan

    (212) 461-7874 

    (973) 740-5058

    James.Olecki@cit.com  

    Barbara.Callahan@cit.com

     

    SOURCE CIT Group Inc.

  • Retail

    L.A. Fashion Industry Profile

    The Los Angeles fashion industry continues to play a crucial role in the city's economy and adopts a vanguard position trends that are changing the fashion industry.
    Twitter
    CIT  ‏@citgroup  3 Days ago

    Could free shipping become the new normal? Learn more. #ViewfromtheMiddle ow.ly/VFZ6t