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Cushman & Wakefield advised Lonicera Partners in obtaining $134 million of construction financing for its 15 Hanover Place apartment project in Brooklyn

CushWake Advises on $134M Construction Loan for Lonicera Project in Brooklyn

Cushman & Wakefield served as exclusive advisor to Lonicera Partners in procuring $134,000,000 in construction financing for 15 Hanover Pl., a mixed-income multifamily development in Brooklyn.  The loan was provided by Santander and City National Bank. 

A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zachary Kraft and Sebastian Sanchez represented Lonicera. 

“15 Hanover Pl. will be one of the last assets to be built under the Affordable New York 421a program and will provide much-needed housing to a submarket with proven demand,” said Gil. “The property is positioned to benefit from its best-in-class sponsorship and location in one of Brooklyn’s most desirable neighborhoods.” 

Upon completion, 15 Hanover Pl. will be a 34-story tower totaling 295,000 square feet.  The asset will feature 314 apartments, including 95 affordable units, and more than 9,000 square feet of commercial space. 


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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