search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boom
New York

W’burg development gets $50M construction loan

LCOR has secured a $50 million construction loan from German bank Helaba to develop a 234-unit rental building in Williamsburg, according to Crain’s. As previously reported, LCOR purchased the vacant site, located at 250 North 10th Street between Roebling and Union avenues in Williamsburg, last year. Construction is slated to begin immediately, with leases anticipated to begin in the fall of 2013.

Sign Up for the undefined Newsletter

The property, designed by SLCE Architects, will span six stories, 185,000 square feet and will include a 117-space parking lot. It will have a mix of studios and one- and two-bedroom apartments. In addition, the building will have an attended lobby, 24-hour lounge in the lobby with coffee service, outdoor courtyard, entertainment lounge on the top floor and rooftop terrace.

LCOR, a Pennsylvania-based real estate investment and development firm, developed 34 Berry, a nearby rental building in 2010. [Crain’s]

Tags
LCORSlce Architects