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

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

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.


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green's Marc Holliday and Brookfield Asset Management's Bruce Flatt with Tower 46. (SL Green, Brookfield)
SL Green to sell its 25% stake in Tower 46 to Brookfield
SL Green to sell its 25% stake in Tower 46 to Brookfield
SL Green CEO Marc Holliday with 11 Madison Avenue and 100 Park Avenue (SL Green, Google Maps/Illustration by Alexis Manrodt for The Real Deal)
SL Green sees improved “market vibe,” office return in “a blink of an eye”
SL Green sees improved “market vibe,” office return in “a blink of an eye”
From left: 11 Madison Avenue, Beam Suntory CEO Albert Baladi and SL Green CEO Marc Holliday (Photos via Beam Suntory; SL Green)
Beam Suntory will move HQ to 11 Madison Ave from Chicago
Beam Suntory will move HQ to 11 Madison Ave from Chicago
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
SL Green nabs $360M refinancing for Midtown office tower
SL Green nabs $360M refinancing for Midtown office tower
SL Green nabs $360M refinancing for Midtown office tower
arrow_forward_ios

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

Loading...