facebook
Traded Co logo
Submit

Lonicera Partners Secures $70M Construction Loan For Development Site In Downtown Brooklyn

Property Image
FINANCED
$70,000,000
Keith Kurland
Jonathan Schwartz

New York

See Similar Deals
Development Site151,000 SF
Financed 06/03/2019
the dealplayerscompscontact
Property Image
FINANCED

Lonicera Partners Secures $70M Construction Loan For Development Site In Downtown Brooklyn

308 Livingston St, Brooklyn, NY 11217, USA

See Similar Deals
Development Site151,000 SF
Financed 06/03/2019
Keith Kurland
Jonathan Schwartz
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$463
Total Square Footage:151,000 SF
Transaction Type:Loan

A development site located at 308 Livingston Street in Downtown Brooklyn has secured a $70,000,000 construction loan from Santander Bank US and City National Bank. The loan was facilitated by brokers Jonathan Schwartz and Keith Kurland from JLL NY Capital Markets. The site spans 151,000 square feet and is owned by Lonicera Partners. The planned development is a 23-story boutique mixed-use building.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $70,000,000
  • Address: 308 Livingston Street, Downtown Brooklyn
  • Market: Downtown Brooklyn

The loan, provided by Santander Bank US and City National Bank, will be used for the construction of a 23-story boutique mixed-use building on the development site at 308 Livingston Street in Downtown Brooklyn. The building, owned by Lonicera Partners, will feature residential units and is set to be a prominent addition to the area.

Players

Jonathan Schwartz
Walker & Dunlop
Jonathan Schwartz
165 deals$26.9B volume
BROKER
Keith Kurland
Walker & Dunlop
Keith Kurland
170 deals$29.1B volume
BROKER
City National Bank
City National Bank
LENDER
LP
Lonicera Partners
LANDLORD

Details

FINANCED
IMAGE: Jonathan Schwartz and Keith Kurland DATE: 06/03/2019 ADDRESS: 308 Livingston Street MARKET: Downtown Brooklyn ASSET TYPE: Development Site LENDER: SantanderBankUS, and @CityNationalBank LANDLORD: Lonicera Partners BROKERS: @JLL_NY_CapitalMarkets Jonathan Schwartz and Keith Kurland LOAN AMOUNT: $70,000,000 LOAN TYPE: Construction loan SF: 151,000 PLANS: 23-story, boutique mixed-use building. residential building in Downtown Brooklyn.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$70,000,000.00

Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00