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New York

Brause, Gotham get $105M construction loan for LIC project

270-unit Court Square tower will stand 33 stories when complete in 2017

David Brause and renderings of 44-28 Purves Street (credit: FXFOWLE)
David Brause and renderings of 44-28 Purves Street (credit: FXFOWLE)

Brause Realty and the Gotham Organization landed a $105 million construction loan for its 270-unit apartment building now rising in Long Island City, according to property records filed with the city Monday.

M&T Bank provided the financing to the two Midtown-based development firms for their 33-story building at 44-28 Purves Street in the Court Square area of the neighborhood, records show.

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Construction at the site, where the partners broke ground in the spring, is expected to wrap up in 2017, according to architect FXFOWLE’s website.

The building, which is aiming for LEED Silver designation, is reportedly going through a feng shui certification process.

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Brause RealtyGotham OrganizationLong Island City