Brooklyn, NY Holliday Fenoglio Fowler, L.P. (HFF) has secured $165 million in financing for the development of One Boerum Place, a 21-story, mixed-use condominium development.
HFF worked on behalf of One Boerum Development Partners LLC, a joint venture between Allegra Holdings, Avery Hall Investments and Aria Development Group to arrange the floating-rate construction loan with a foreign pension fund.
The HFF debt placement team included managing directors Christopher Peck and Graham Stephens, senior director Peter Rotchford and associate Alex Staikos.
One Boerum Place will be situated in the Borough Hall district at the convergence of some of the area’s most coveted neighborhoods, including Boerum Hill, Cobble Hill, Brooklyn Heights and Fort Greene. Due for completion in the first quarter of 2021, the 122-unit project will be steps from the A, C, F, 2, 3, 4, 5 and R subway lines, providing excellent connectivity around New York City. The building’s design includes layouts in a variety of one through four-bedroom floorplans, which will provide sweeping views of the Manhattan and Brooklyn skylines, the East River and New York Harbor. Units will feature high-end finishes, including gourmet kitchens with Miele appliances, custom cabinetry and stone countertops. Bathrooms, will have freestanding bathtubs, stone floors and walls and chrome finishes.