Carmel Partners landed a $233 million loan to complete a 17-story rental building at 54 Crown Street in Crown Heights, Brooklyn. Designed by Hill West Architects, the structure will contain 569 apartments, 182 enclosed parking spaces, around 7,500 square feet of ground-floor retail space, and a 1,500-square-foot community facility.
JLL Capital Markets has arranged a $41.5 million financial package for a trio of developers to complete a new condominium tower at 360 West 52nd Street in Hell’s Kitchen, Manhattan. The development team includes Cadence Property Group, HOH Capital Partners, and Deal Lake Capital, who also purchased an adjacent site at 354 West 52nd Street.
The Bronx Logistics Center in Hunts Point has officially achieved a LEED v4 Platinum rating, the highest LEED certification granted by the U.S. Green Building Council. Designed by ARCO and developed by Turnbridge Equities and Dune Real Estate Partners, the 1.3-million-square-foot facility is on track to open this year and will be among a small group of LEED Platinum-rated distribution buildings in the country.
Eagle Cliff Real Estate Partners has secured a $19.5 million construction loan to complete a Class-A logistics and distribution center at 4955 Veterans Memorial Highway in Holbrook, Long Island. Located in Suffolk County, the property will debut as the Holbrook Logistics Center with more than 108,000 square feet.
Innovo Property Group, represented by JLL Capital Markets, has secured $354 million in financing to complete a new industrial development at 28-90 Review Avenue in Long Island City, Queens. Total capitalization includes multiple financial packages for acquisition, construction, and development costs provided by Axos Bank, Cerberus Capital Management, and Goldman Sachs Asset Management’s Urban Investment Group.
