Ranger Properties and KD Sagamore Capital have closed on a $40 million loan to complete a new multi-family rental building at 982-988 Fulton Street in Clinton Hill, Brooklyn. Financing was provided by SCALE Lending, an affiliate of Slate Property Group.
Scaffolding continues to be disassembled from 308 Livingston Street, a 23-story residential building in Downtown Brooklyn. Designed by Fogarty Finger Architecture and developed by Lonicera Partners, which purchased the property in May 2019 for $11 million, the structure will yield 160 units in one- and two-bedroom layouts and ground-floor retail space facing Livingston Street. Noble Construction Group, LLC is the general contractor and King Contracting Group is putting together the signature brick masonry walls. The site is located between Nevins and Bond Streets.
Permits have been filed for a 34-story mixed-use tower at 15 Hanover Place in Downtown Brooklyn. Located between Fulton and Livingston Streets, the interior lot is one block from of the Nevins Street subway station, serviced by the 2 and 3 trains, and the Dekalb Avenue station, serviced by the B, Q, and R trains. John Evans, principal at Lonicera Partners is listed as the owner behind the applications.
Construction is nearing the halfway mark on 141 Willoughby Street, a 24-story commercial building in Downtown Brooklyn. Designed by Fogarty Finger with SLCE as the executive architect and developed by Savanna Real Estate, which secured $264 million in construction financing earlier this year, the 400,000-square-foot structure will yield a mix of office and retail space on a trapezoidal plot bound by Willoughby Street to the south, Gold Street to the west, and Flatbush Avenue Extension to the east. Gilbane Building Company and Savcon are the general contractors for the project.
Construction is rising rapidly on The Nova, a 24-story residential project at 41-05 29th Street in Long Island City, Queens. Designed by Fogarty Finger and developed by SB Development Group, the 290-foot-tall structure will yield 86 homes and ground-floor retail space on a triangular plot at the confluence of 29th Street and 41st Avenue. The developers recently secured a construction loan from SCALE Lending worth $55 million to complete the project.
