GDC Properties secured a $42 million construction loan from Banco Santander for its townhouse development at 11-22 45th Road in Long Island City. The Westchester-based firm, led by TK and TK plans to build 38 townhouses spanning a total of 150,000 square feet. It bought the site, formerly home to a single-story warehouse, for $44 million in 2014 and got Department of Buildings approval for its construction plan in February. … [more]