SL Green lends $59M for mixed-use Brooklyn project

Loan finances Daten Group’s 135-unit rental planned for Clinton Hill

TRD NEW YORK /
Jan.January 22, 2020 03:00 PM
Rendering of 540 Waverly Avenue

Rendering of 540 Waverly Avenue

The Daten Group has landed $58.5 million in financing from SL Green for a mixed-use building Daten is planning in Clinton Hill, the company announced Tuesday.

The firm purchased 540 Waverly Avenue from Verizon in December for $17.25 million. It plans to build a nine-story apartment building at the site with 6,000 square feet of retail space and a 56-car enclosed parking garage.

The project will stand 95 feet tall and span 117,000 square feet including 91,900 square feet of residential space. Of its 135 rental units, 95 will be market-rate.

Construction should begin this spring and finish in mid 2022, according to the Daten Group.

Daten has also worked on Brooklyn projects at 840 Fulton Street in Clinton Hill, 575 Fourth Avenue in Park Slope, 72 Poplar Street in Brooklyn Heights and 856 Washington Street in Prospect Heights.


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