Lonicera Partners Secures $150 Million Loan From PNC Bank For Hanover Tower In Brooklyn
15 Hanover Place
$150,000,000
$532/SF
Building Size
281,511 SF
Asset Type
MultiFamily
Closing
Jun 16, 2026
AI
A $150 million loan was secured by Lonicera Partners from PNC Bank for Hanover Tower, a multifamily property located at 15 Hanover Place in Downtown Brooklyn. The asset encompasses a total of 281,511 square feet and comprises 314 units, replacing $134 million in existing debt from Santander Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $150,000,000
- Address: 15 Hanover Place
- Market: Brooklyn
- Asset Size: 281,511 SF
- Units: 314
- Lender: PNC Bank
- Landlord: Jamie Anthony - Lonicera Partners
This transaction involved Jamie Anthony, representing Lonicera Partners, who facilitated the refinancing process for the multifamily property. The deal reflects a strategic move to enhance the financial structure related to Hanover Tower in the competitive Brooklyn market.
Players
Hanover MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93