The Real Deal New York

TF Cornerstone gets $250M financing for DoBro resi development

Project at 33 Bond Street to contain 714 units, 20 percent of them affordable

December 15, 2014 04:25PM
By Tess Hofmann

33-bond

From left: 33 Bond Street in Downtown Brooklyn and Thomas and Fred Elghanayan

Thomas and Fred Elghanayan’s TF Cornerstone secured a $250 million mortgage from the New York State Housing Finance Agency for its planned 714-unit residential building at 33 Bond Street, according to property records filed with the city today.

TF Cornerstone is building a 25-story building at the Downtown Brooklyn site, which will contain 714 units, 143 of which will be affordable. The project will total 599,375 square feet, including 546,480 square feet of residential living space and 30,000 square feet of retail space on the lower level.

The developer purchased the site from Joseph Sitt’s Thor Equities last April for $70 million. It filed permits for the project in July, as The Real Deal reported.

Gary Handel is the architect of record.

MENU