Tishman Speyer Secures $360M Construction Loan For 11 Hoyt Street Mixed-Use Project In Brooklyn, NY

The mixed-use project located at 11 Hoyt Street in Brooklyn, NY was recently involved in a closed property transaction. The project, developed by Tishman Speyer and led by Rob Speyer, secured a construction loan for $360 million. The loan was financed by JPMorgan Chase, with Jamie Dimon providing $170 million, Starwood Property Trust, led by Barry Sternlicht, contributing $170 million, and additional funding of $40 million from iStar. The total square footage of the project is 290,356 square feet.

Summary of transaction details

• Property Type: Mixed-use project
• Transaction Amount: $360 million
• Address: 11 Hoyt Street, Brooklyn, NY
• Developer: Tishman Speyer – Rob Speyer
• Lender: JPMorgan Chase – Jamie Dimon ($170 million), Starwood Property Trust – Barry Sternlicht ($170 million), iStar ($40 million)
• Square Footage: 290,356

The key individuals involved in this deal include Jamie Dimon, the CEO of JPMorgan Chase, Barry Sternlicht, the CEO of Starwood Property Trust, and Rob Speyer, the CEO of Tishman Speyer. Their involvement in this transaction highlights their significant roles in the real estate industry.