A joint venture of Lendlease and Aware Super has received a $360 million construction loan for 1 Java Street, a 36-story, mixed-use waterfront development in the Greenpoint neighborhood of Brooklyn adjacent to the East River.
“This financing is proof that experienced, creditworthy sponsors can secure debt financing even in uncertain market conditions,” said Ben Byrne, portfolio manager, Lendlease. “Leveraging the strengths of our integrated business model and partnership with Aware Super, Lendlease has forged strong relationships with financial institutions all over the globe, providing us with access to a multitude of capital sources who trust in our ability to execute.”
The property will feature 834 apartments, about 13,000 square feet of destination retail space and an 18,000-square-foot public waterfront park connecting the property to the India Street Pier.
With anticipated completion in 2026, 1 Java will feature 70 percent market rate units and 30
