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| Joy Dracos |
NEW YORK, NY – JLL’s Capital Markets group has arranged the $360 million construction loan for 1 Java Street, a 36-story, mixed-use waterfront development in the Greenpoint neighborhood of Brooklyn, immediately adjacent to the East River.
The JLL Capital
Markets team representing the borrower was led by Senior Managing Director Christopher
Peck, Director Alex Staikos, Associate Phil Cadorette and
Analyst Joy Dracos.
“Sustainability
has become more important to the built environment than ever, and we are proud
to have worked with the borrower to secure financing from a leading group of
lenders committed to funding innovative projects such as 1 Java,” said Peck.
Christopher Peck
“With
cutting-edge sustainability practices embedded throughout the property, this
project will benefit the Greenpoint community and the broader New York City
environment setting the bar for green building citywide.”
The property will feature 834 apartments,
approximately 13,000 square feet of destination retail space and an approximately
18,000-square-foot public waterfront park connecting the property to the India
Street Pier.
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| Alex Staikos |
JLL represented
the borrower, a joint venture of Lendlease and Aware Super, to secure the
floating-rate construction loan through a Bank of America-led syndicate.
With an
anticipated completion in 2026, 1 Java will feature 70% market rate units
and 30% affordable units, participating in the Affordable New York 421(A) Program
and Voluntary Inclusionary Housing.
 |
| Phil Cadorette |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.
The firm has more than 3,000 Capital
Markets specialists worldwide with offices in nearly 50 countries.
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CONTACT:
Jenna Sharp
JLL, Public Relations
Dallas, Texas
M +1 214 394 3356
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