JLL Brokers Bushwick Construction Loan
Damian Ghigliotty June 17, 2015, 4:48 p.m.
A Brooklyn-based developer landed the financing it needs to complete the redevelopment of 336 Himrod Street in Brooklyn’s Bushwick neighborhood.
JLL’s capital markets group secured $21 million in construction financing for the mixed-used, 80/20 project, Commercial Observer Finance has learned.
Santander Bank provided the three-year loan, according to a representative for the brokerage.
JLL Vice President Jonathan Schwartz and Managing Director Max Herzog led the negotiations on behalf of the design and development firm, ASH NYC.
The project calls for the partial conversion of the former Dannenhoffer’s Opalescent Glassworks factory and partial ground-up construction.
Upon completion, 336 Himrod Street will contain 63 apartment units, 4,600 square feet of ground-floor commercial space with an adjoining 4,200-square-foot concourse level, outdoor space and parking.
Representatives for ASH NYC could not be reached for comment by publication time.