Tomas Rosenthal’s Hampshire Properties borrows $72M from Bank Leumi for development in Williamsburg

Tomas Rosenthal’s Hampshire Properties through the entity Driggs Partners LLC as borrower signed a loan agreement with lender Bank Leumi USA valued at $72.0 million for the 44-unit residential project at 510 Driggs Avenue in Williamsburg. The deal closed on October 31, 2019 and was recorded on November 21, 2019.

The prior debt was provided by Rompsen Mortgage Investment Fund and assigned to Bank Leumi. The last time the property sold was July 19, 2017, when Hampshire bought it for $27,800,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,000.There has been one new building permit application totaling 68,124 square feet. Those plans include a total of 44 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link