Caesura, a Residential Building in Brooklyn, Receives $32M Loan
Jonathan Rose Companies borrowed the 10-year, fixed-rate loan from Allegiant Real Estate Capital LP.
NEW YORK CITY—The green real estate investment and development firm Jonathan Rose Companies took out $32 million in financing for their newly completed, residential building in Brooklyn. The building’s name Caesura means “a break.”
Allegiant Real Estate Capital provided a 10-year, fixed-rate loan which is being used to replace the existing construction loan. Holliday Fenoglio Fowler’s Steven Klein and Geoff Goldstein negotiated the financing for Jonathan Rose.
The 12-floor, 123-unit apartment complex comprises 74 market-rate and 49 affordable units with 2,400 square-feet of ground-floor retail. The property is located at 280 Ashland Place at the corner of Lafayette Avenue. It is near the Brooklyn Academy of Music, Barclays Center and Brooklyn Technical High School, at the intersection of Fort Green and Downtown Brooklyn. Completed earlier this year, the building is more than 80% occupied.
Caesura markets an environmentally conscious design that promotes healthy living, resource conservation and energy efficiency, and meets or exceeds LEED Gold standards.