Tishman secures $380M construction loan for 51-story apartment tower

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Credit: Tishman

Tishman Speyer has secured a $380.6 million loan to finance the construction of 11 Hoyt, a 480-unit luxury condo building in downtown Brooklyn, according to a report from Real Estate Weekly.

The 51-story apartment tower, located next to the Macy’s on Fulton Street, will include 55,000 sq. ft. of indoor and outdoor amenity space.

Designed by Chicago-based Studio Gang Architects, the building will feature a rolling wave-like facade. Tishman plans to offer 190 distinct floor plans within the building.

The development also will feature interior design work by London-based Michaelis Boyd Associates as well as landscaped outdoor space crafted by New York’s Hollander Design.

“Completing the financing marks another major milestone for our first ground-up condominium project in New York and we look forward to launching sales this summer. 11 Hoyt’s world-class design, unmatched amenity space and convenient, highly coveted location make this development truly one-of-a-kind,” Tishman Speyer CEO Rob Speyer said.

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