The Real Deal New York

Hampshire lands $70M loan for Midwood resi project

Bank Leumi provided the construction financing
By Kathryn Brenzel | February 16, 2017 05:20PM

1277 East 14th Street (Credit: Woods Bagot via YIMBY)

Hampshire Properties just pulled off a $70 million construction loan for an apartment building it’s planning for Midwood.

Bank Leumi provided the financing for 1277 East 14th Street, a planned 302-unit rental building in the Brooklyn neighborhood, documents filed with the city on Thursday show. Hampshire filed plans for the project in late 2014, calling for a new eight-story residential building that will span 277,406 square feet and include 152 parking spots. Woods Bagot TRData LogoTINY is the architect of record.

Hampshire purchased the site — a former Jewish all-girls school, the Shulamith School for Girls — in 2014 for $20 million. The developer’s permit application to demolish the existing building on the site was approved in February 2016.

Tomas Rosenthal, CEO of Hampshire, didn’t immediately return a call seeking additional information.

Last year, Hampshire scooped up an Upper West Side rental building and an adjacent commercial building for a combined $37.6 million.

(To read more about 1277 East 14th Street and Hampshire’s other properties, click here)