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Hampshire lands $70M loan for Midwood resi project
Bank Leumi provided the construction financing
![1277 East 14th Street (Credit: Woods Bagot via YIMBY)](https://static.therealdeal.com/wp-content/uploads/2017/02/Screen-Shot-2017-02-16-at-4.53.47-PM-e1487282067329.png)
Hampshire Properties just pulled off a $70 million construction loan for an apartment building it’s planning for Midwood.
Bank Leumi provided the financing for 1277 East 14th Street, a planned 302-unit rental building in the Brooklyn neighborhood, documents filed with the city on Thursday show. Hampshire filed plans for the project in late 2014, calling for a new eight-story residential building that will span 277,406 square feet and include 152 parking spots. Woods Bagot [TRDataCustom] is the architect of record.
Hampshire purchased the site — a former Jewish all-girls school, the Shulamith School for Girls — in 2014 for $20 million. The developer’s permit application to demolish the existing building on the site was approved in February 2016.
Tomas Rosenthal, CEO of Hampshire, didn’t immediately return a call seeking additional information.
Last year, Hampshire scooped up an Upper West Side rental building and an adjacent commercial building for a combined $37.6 million.
(To read more about 1277 East 14th Street and Hampshire’s other properties, click here)