Hampshire Properties scores $92M loan for Brooklyn rental project

Financing from Square Mile Capital replaces $70M loan

New York /
Jul.July 26, 2018 03:00 PM

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

Hampshire Properties has landed a $92 million loan for its building at 1277 East 14th Street in Midwood.

The money comes from Square Mile Capital, according to property records. It replaces a $70 million construction loan from Bank Leumi from last February.

The Brooklyn project will be a 302-unit rental building that stands eight stories tall and spans just over 277,000 square feet. The site used to be a Jewish all-girls school, and Hampshire bought it for $20 million in 2014.

Hampshire Properties CEO Tomas Rosenthal did not immediately respond to a request for comment.

The company purchased 420 East 80th Street earlier this year for slightly more than $85 million and filed plans in May for a six-story building at 510 Driggs Avenue in Williamsburg with 44 units across about 67,000 square feet.


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
One Madison Avenue and Marc Holliday (Photos via SL Green)

SL Green snags $1.25B construction loan for One Madison Avenue

SL Green snags $1.25B construction loan for One Madison Avenue
11 Penn Plaza and 120 Wall Street (VNO, Wikipedia Commons)

Manhattan’s top real estate loans post second best month since March

Manhattan’s top real estate loans post second best month since March
Square Mile Capital CEO Craig Solomon and The Real Deal's Hiten Samtani

WATCH: “It’s going to take longer, and it’s going to cost more”: Craig Solomon on the real estate capital stack

WATCH: “It’s going to take longer, and it’s going to cost more”: Craig Solomon on the real estate capital stack
OneTitle's Seth Brown (iStock)

OneTitle set out to change the title industry. Now it’s out of business

OneTitle set out to change the title industry. Now it’s out of business
The Scribner Building at at 597 Fifth Avenue and Joe Sitt of Thor Equities (Wikipedia Commons)

Thor delinquent on $105M loan at 597 Fifth

Thor delinquent on $105M loan at 597 Fifth
Pension fund investors are seeking to take cash out of real estate funds as property values fall, like at Water Tower Place in Chicago (Photo via iStock; Wikipedia Commons)

Core real estate funds delay investors from cashing out

Core real estate funds delay investors from cashing out
arrow_forward_ios

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

Loading...