The Real Deal New York

Hampshire Properties lands $115M construction loan for Midwood project

Money is for multifamily building at 1277 East 14th Street
July 18, 2018 12:00PM

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

Hampshire Properties has landed a $115 million loan for its multifamily project at 1277 East 14th Street in Midwood.

The loan, provided by Square Mile Capital, will finance all of the 302-unit property, which will stand eight stories tall and span 265,000 square feet, according to Commercial Observer.

The project is located on the former site of the Shulamith School for Girls, and amenities at the building will include a gym, a game room and a rooftop.

Square Mile also recently loaned $260 million to Delancey Street Associates for their Essex Crossing project at 202 Broome Street and $150 million to Tavros Development Partners for their project at the Dime in South Williamsburg. [CO] – Eddie Small