Hampshire lands $70M loan for Midwood resi project

Bank Leumi provided the construction financing

TRD New York /
Feb.February 16, 2017 05:20 PM

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)


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Joy Construction’s Eli Weiss (left), Maddd Equities’ Jorge Madruga (top), and Drew Katz with 20 Bruckner Boulevard in the Bronx (Getty; Google Maps)

“Dream” comes true for long-vacant Bronx ice house

“Dream” comes true for long-vacant Bronx ice house
 David Bistricer of Clipper Equity and 77 Commercial Street in Greenpoint (REIT and Google Maps)

Bistricer lands $386M construction loan for Greenpoint project

Bistricer lands $386M construction loan for Greenpoint project
109 East 79th Street and Victor Sigoura (Google Maps; Getty)

Victor Sigoura lands $133M construction loan for UES condo

Victor Sigoura lands $133M construction loan for UES condo
From left: Mapleton Rentals at at 1555-1575 61st Street in Mapleton, 1440 Story Avenue in Soundview, Beard-Van Brunt at 411 Van Brunt Street in Red Hook

Abraham Leser targets $74M refi for Brooklyn, Bronx properties

Abraham Leser targets $74M refi for Brooklyn, Bronx properties
A rendering of 1998 Second Avenue in Harlem and Peter Fine (Credit: GF55 Architects)

Peter Fine inks $70M construction loan for Harlem resi project

Peter Fine inks $70M construction loan for Harlem resi project
JPMorgan Chase's Jamie Dimon and Fortress Investment Group's Wes Edens (Dimon via Mark Wilson/Getty Images; Edens via Scott Olson/Getty Images)

JPMorgan, Fortress are the latest firms to build up war chests

JPMorgan, Fortress are the latest firms to build up war chests
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...