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| Rendering of 1300 Flushing Avenue, Bushwick Neighborhood, Brooklyn, NY |
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| Doug Bond |
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF)
announced today that it has secured $51.175 in first mortgage financing for 1300 Flushing Avenue, a six-story
warehouse and distribution building that will be converted into premiere, Class
A creative office space in Brooklyn’s Bushwick neighborhood.
HFF worked on behalf of
the borrower, a joint venture partnership between Lincoln Property Company and
Alcion Ventures, to place the three-year, floating-rate loan with two one-year
extension options with Mack Real Estate Credit Strategies. Loan proceeds will be used to acquire and reposition
the asset.
The light industrial
building located at 1300 Flushing is situated at the intersection of Flushing
and Cypress Avenues, the epicenter of Brooklyn’s Bushwick neighborhood.
Bushwick is a burgeoning creative and energetic
neighborhood with newly-constructed multi-housing, condo buildings, organic
grocers and upscale restaurants in addition to a flourishing artist
community.
The surrounding
neighborhoods include Williamsburg, Greenpoint, DUMBO and Ridgewood, some of
the most desirable and live-work-play locations in Brooklyn and Queens. The property is two blocks from the Jefferson
Street L Subway Station, which provides direct access to Union Square and
Manhattan within 15 minutes.
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| Mark Wintner |
Once redeveloped, the
pre-war 1300 Flushing building will consist of 122,697 rentable square feet of
Class A creative office space with high ceilings, natural light, exposed
structural work and ducting, large operable windows, pet-friendly policies,
functional roof space and other non-traditional design elements, including
living rooms and kitchens.
The HFF debt placement
team representing the borrower was led by senior managing director Doug Bond, managing director Mark Wintner and associate director Christopher Peck.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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