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Rendering of Planned 1 Boerum Place
Downtown Brooklyn, NY |
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has
secured $165 million in financing for the development of One Boerum Place,
a 21-story, luxury mixed-use condominium development in Downtown Brooklyn.
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| Christopher Peck |
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.
One Boerum Place will be situated in Downtown Brooklyn’s 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 spacious 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.
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| Graham Stephens |
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.
One Boerum Place is
also planned to include a full suite of amenities, such as a pool with sauna
and changing room area, two-story fitness center, entertainment lounge,
children’s playroom, landscaped rooftop with outdoor kitchen, fully attended
lobby with 24/7 doorman and concierge service, residential storage and a fully
automated parking garage.
In addition, the project will feature nearly
22,000 square feet of ground-floor retail space.
The HFF debt placement team included managing directors Christopher
Peck and Graham Stephens, senior director Peter Rotchford and
associate Alex Staikos.
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| Peter Rotchford |
“HFF delivered unparalleled service for our partnership and have a firm
command of the market options available to top-quality sponsorship,” said
Avi
Fisher, Avery Hall’s founding principal. “We look forward to
continuing to work together in the future.”
“It’s always exciting to introduce new capital to a market and watch
our client build something special,” Peck said.
Allegra Holdings is a Spanish real estate investment company
headquartered in Alcobendas, Spain, that specializes in real estate investments
across all property types around the world.
With major investments in the
United States, Spain, the United Kingdom, Brazil, Australia, Canada, Colombia
and Portugal, the company has a wide variety of assets and investments.
Their current portfolio consists of over $1 billion in assets worldwide.
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| Alex Staikos |
Avery Hall Investments specializes in the acquisition, design and
development of unique real estate assets which are primed for growth and value
creation.
Avery Hall’s experienced and interdisciplinary team is ready to
tackle tough development challenges to generate superior, risk-adjusted returns.
The firm shepherds every project from architectural and zoning feasibility
studies, through day-to-day construction, to completion and disposition.
Avery Hall Investments is committed to creating projects which enhance the
quality of life in the communities in which it invests, with a focus on
long-term value growth.
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| Avi Fisher |
Aria is a real estate investment and development firm with offices in
New York City, Washington, D.C. and Miami.
Founded in 2009 by partners
Joshua Benaim, David Arditi and Timothy Gordon, the firm marries a classic
value investment strategy with the traditional real estate principles of
location, scarcity and beauty.
Aria invests capital on behalf of its
principals and partners in both real estate equity and real estate related
debt.
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| Joshua Benaim |
Aria specializes in complex situations, including ground-up
development and adaptive reuse, mezzanine financing for assemblage or
construction, preferred equity and joint venture equity.
Aria’s
development projects are focused on creating distinguished urban infill
multifamily and mixed-use properties in great neighborhoods.
Notable
developments include 321 Ocean in Miami Beach, The Bond and The Alden in
Washington, D.C. and 465 Pacific in Boerum Hill, Brooklyn, New York.
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| David Arditi |
Since inception, Aria has invested in excess of $300 million of equity through
joint ventures and its discretionary fund, Aria Investment Partners LP.
http://ariadevelopmentgroup.com/
CONTACTS:
CHRISTOPHER PECK
NY Lic. #40PE1175637
HFF Managing Director
(212) 245-2425
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
