Tankhouse signs $25M construction loan with Bank Hapoalim for 27-unit project in Downtown Brooklyn

Tankhouse through the entity 219jsp LLC as borrower signed a new construction loan with lender Bank Hapoalim through the entity Bank Hapoalim B.M. valued at $25 million for the office building (O2) at 219 Jay Street in Downtown Brooklyn, Brooklyn.
The deal closed on November 16, 2021 and was recorded on December 9, 2021.
(321599515) Plans for a 27-unit, 36,191 square-foot R-2 were filed on December 29, 2020. The loan price per buildable square foot is $691 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on November 5, 2020, for $12.5 million.
The signatory for Tankhouse was Sam Alison-Mayne.

Sam Alison-Mayne is co-founder of Tankhouse.

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