Residential

70 Schermerhorn, Rendering courtesy JLL

Rendering Revealed & Funding Secured for 70 Schermerhorn Street, Brooklyn Heights

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.

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159 Broadway, via Google Maps

26-Story Mixed-Use Tower Coming to 159 Broadway in Williamsburg, Brooklyn

Permits have been filed for a 26-story hotel and residential tower at 159 Broadway, in Williamsburg, Brooklyn. Rising above the Williamsburg Bridge’s final stretch in Brooklyn, the structure would be a highly visible addition to the neighborhood. The J, M, and Z trains all ride just past the site. Their first stop in Brooklyn, Marcy Avenue, is just four blocks away. Cornell Realty will be responsible for the development, after purchasing the site for $26.2 million.

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