Lonicera Partners Secures $134M Construction Loan For Downtown Brooklyn Development Site

A development site located at 15 Hanover Pl in Downtown Brooklyn has been involved in a recent loan transaction. The property spans approximately 295,000 square feet and consists of 314 units. The transaction took place on July 18, 2022.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $134,000,000
• Address: 15 Hanover Pl.
• Market: Downtown Brooklyn
• Lender: Santander & City National Bank
• Landlord: Lonicera Partners

The loan, amounting to $134,000,000, was provided by Santander and City National Bank. The landlord in this transaction is Lonicera Partners. The brokers involved in the deal were Gideon Gil, Zach Kraft, and Sebastian Sanchez from Cushman & Wakefield.