The Real Deal New York

Hampshire Properties scores $92M loan for Brooklyn rental project

Financing from Square Mile Capital replaces $70M loan
By Eddie Small | July 26, 2018 03:00PM

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.