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News release

NEW YORK, NY

Brooklyn Continues its Building Boom

JLL secures $21 million in construction financing for 336 Himrod Street


NEW YORK, June 23, 2015 – On behalf of ASH NYC LLC, JLL’s Capital Markets experts today announced the firm has secured $21 million in construction financing for 336 Himrod Street, a mixed-used, “80/20” development located in Brooklyn’s Bushwick neighborhood. Santander Bank, N.A. provided the loan.
 
Vice President Jonathan Schwartz and Managing Director Max Herzog led the JLL team on the transaction.
 
The redevelopment calls for the partial conversion of the former Dannenhoffer’s Opalescent Glassworks factory and the partial ground up development for a mixed-use, luxury multifamily asset. Upon completion, 336 Himrod Street will total 63 units, 4,600 square feet of ground floor commercial space with an adjoining 4,200 square foot concourse level, a 1,560-square-foot community facility, a full cellar, outdoor space and at-grade parking.
 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
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About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.