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Cushman & Wakefield Arranges $134M Construction Loan for Brooklyn Mixed-Income Project

The mixed-income project at 15 Hanover Place in Brooklyn will be located within walking distance to a variety of retail, dining and entertainment options including the Brooklyn Academy of Music, Barclays Center, Fulton Mall and Dekalb Market at City Point.

NEW YORK CITY — Cushman & Wakefield has arranged a $134 million construction loan for 15 Hanover Place, a mixed-income residential project that will be located in downtown Brooklyn. The 34-story building will house 314 units, 95 of which will be reserved as affordable housing, as well as 9,000 square feet of commercial space. Gideon Gil, Zachary Kraft and Sebastian Sanchez of Cushman & Wakefield arranged the loan through Santander Bank and City National Bank on behalf of the borrower, locally based developer Lonicera Partners. A tentative completion date has not yet been established.

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