A twelve-story condominium building has received funding for its imminent rise at 70 Schermerhorn Street, in Brooklyn Heights, Brooklyn. The announcement comes from JLL’s Capital Markets, who raised $42.1 million in joint-venture equity from a $512 million fund managed by The Davis Companies. The capital will be allocated for construction financing. Lonicera Partners and Orange Management are behind the project, and the news comes also comes with a rendering.
Permits have been filed for a six-story mixed-use structure at 522 Grand Street, in Williamsburg, Brooklyn. The site is four blocks away from the Metropolitan Avenue Subway Station, serviced by the G and L trains. The site changed hands in July of 2016, for $3.1 million. An anonymous LLC is behind the applications.
Permits have been filed for a four-story structure at 207 Bay 35th Street, in Gravesend, Brooklyn. The 25th Avenue subway station lies just east of the property, and offers service on the D line. Kam Cheung Realty LLC is responsible for the development.
Permits have been filed for a three story building at 1665 42nd Street, in the Borough Park neighborhood of Brooklyn. The site sits one block east of the Ditmas Avenue subway station, which offers service on the F line. Cityscape Build will be responsible for the development.
Back in January, YIMBY posted a new rendering for Red Apple Group’s 3514 Surf Avenue, in Coney Island. Since then, we’ve spoken with the site’s developer, John Catsimatidis, who offered an even fresher image of the project, as well as some additional insight into what’s happening across the neighborhood and Brooklyn.