REBusinessOnline

LCOR SECURES $33 MILLION FOR MULTIFAMILY BUILD

NEW YORK CITY — LCOR has secured $33 million in construction financing for a 142-unit residential rental property located at 34 Berry St. in the Williamsburg neighborhood of Brooklyn. Amenities for the $69 million project, which is scheduled for a spring 2010 completion, will include a landscaped outdoor garden, a rooftop terrace and lounge, a fitness center, a business meeting room and on-site parking for 71 cars. The loan was originated by Richard Bassuk of Singer & Bassuk; the lender was bank of America. Terms of the financing were not disclosed. The project was designed by Perkins Eastman; the general contractor is Ryder Construction. Leasing is being handled by Rose Associates.

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