Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Midtown New York  + Apartments  |  February 16, 2024
Emily Fu
By: Emily Fu

Brause Realty, Lonicera Land $75M for Midtown Apt Building 

Brause Realty Inc. and Lonicera Partners LLC have secured a $75 million construction financing deal for 255 East 39th Street, a Class A mixed-use development in Murray Hill. J.P. Morgan and First Citizens Bank provided the loan. Lonicera Partners LLC is the development manager for the project. 

The Cushman & Wakefield Equity, Debt & Structured Finance team, comprising Gideon Gil, Lauren Kaufman, Zachary Kraft, and Cecelia Galligan, represented the borrower in the transaction. The development, set to be completed in the fourth quarter of 2025, will consist of a 20-story building offering 157 apartments with East River views and 4,687 square feet of commercial space. The project will also include affordable housing units under the Affordable New York 421-A real estate tax abatement program. 

“The Brause family has owned property on this block since 1942 and is excited to finally bring this development to fruition,” said David Brause, President of Brause Realty Inc. 

Read More News Stories About: Cushman & Wakefield
Connect

Inside The Story

David Brause

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
Order Reprints
  • ◦Financing
New call-to-action
New call-to-action