Company Gets $70 Million Loan to Develop Former Site of Shulamith School in Flatbush

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Hampshire Properties just pulled off a $70 million construction loan for an apartment building it’s planning for Midwood, Brooklyn, reports The Real Deal.

Bank Leumi provided the financing for 1277 East 14th Street, a planned 302-unit rental building, documents filed with the city on Thursday show. Hampshire filed plans for the project in late 2014, calling for a new eight-story residential building that will span 277,406 square feet and include 152 parking spots.

Hampshire purchased the site — the former Shulamith School for Girls — in 2014 for $20 million, The Real Deal reports.

{Matzav.com}

3 COMMENTS

  1. Oh great. We should expect a traffic nightmare coming soon to our already overcrowded roads. Petfect, just what we need. Where are our elected officials? In on the take?

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