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Standard Real Estate Investments Enters New York Market
Standard Real Estate Investments, LP, a national, minority-owned real estate private equity firm, today announced its first foray in New York City real estate with the closing of an equity investment in a mixed-use development project at 1333 Broadway in Brooklyn’s Bushwick neighborhood.
JLL Capital Markets arranged the majority equity stake and simultaneously arranged construction financing with Santander. JLL represented the sponsor, Ekstein Tolbert Development, who will work with Standard to build a 107-unit, 20-story mixed-use building on the 30,766-square-foot site. The development has a total project cost of $76 million.
“The acquisition of the site and development of a mixed-use property with an attainable residential component as a sizeable portion of the project fits seamlessly with our investment philosophy,” said Jerome Nichols, Standard’s founder and president. “We look forward to working closely with Erik Ekstein and Kevin Tolbert, principals of Ekstein Tolbert Development in bringing 1333 Broadway to fruition.”
- ◦Development
- ◦Financing



