San Francisco-based real estate developer Carmel Partners has secured $233 million in construction financing for a 17-story multifamily development in Crown Heights.
According to a filing to the city register recorded on August 10, Goldman Sachs agreed to fund the construction of a 394,946-square-foot building that will deliver 569 apartments, community space and commercial space to an empty lot at 54 Crown Street and less than a block from the Brooklyn Botanical Garden.
A new building application approved by the New York City Department of Buildings in 2020 states a limited liability company owned by Carmel, CP VI Crown Heights, LLC wants to deliver approximately 7,500 square feet of commercial space, 1,325 square feet of community space and 386,000 square feet of residential space.
Isaac Hager and Daryl Hagler in November purchased a Crown Heights site where Bruce Eichner’s Continuum Company sought to build a 1,500-unit residential development, paying $43 million in the all-cash deal for the former Spice Factory site at 960 Franklin Avenue.
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