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Multifamily in BK’s Cultural District Gets $32M Loan
HFF has arranged $32 million in financing for Jonathan Rose Companies’ Caesura, a newly-completed, 123-unit residential building with ground-floor retail in Brooklyn’s Cultural District. The 10-year, fixed-rate loan with Allegiant Real Estate Capital replaced the existing construction debt.
The HFF team representing Jonathan Rose included managing director Steven Klein and senior director Geoff Goldstein.
“It was an absolute pleasure to work with the team at Jonathan Rose and Allegiant on this financing,” said Goldstein. “Jonathan Rose consistently develops transformative and totally authentic real estate projects that capture the spirit of their locations, and Caesura is no exception.”
Caesura comprises a mix of 74 market-rate and 49 affordable units within a 12-floor building at the corner of Ashland Place and Lafayette Avenue. Recently completed and already 80% occupied, the property sits at the confluence of Fort Greene and Downtown Brooklyn, both of which are seeing increasing development.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
