HFF Arranges $61.75 Million Financing for Mixed-Use Building in Lower Manhattan

New York —  The 23-story Exhibit project will be developed by Socius Development Group, and will contain a total of 120 rental units (96 market rate and 24 affordable) comprised of studio, one- and two-bedroom floor plans.

HFF has arranged $61.75 million in financing for the development of Exhibit, a luxury residential tower comprised of 120 residential rental units and 6,800 square feet of retail space, located at 60 Fulton Street in Lower Manhattan. HFF worked on behalf of Gerald Brauser and Steven Brauser of The Parkland Group LLC to secure a 33-year construction-permanent loan through Pacific Life Insurance Company. The project is located within a few blocks of the Fulton Center transportation hub, which offers access to 10 subway lines, the World Trade Center and South Street Seaport. Scheduled for completion in 2016, the 23-story project will be developed by Socius Development Group, and will contain a total of 120 rental units (96 market rate and 24 affordable) comprised of studio, one- and two-bedroom floor plans. With frontage along Fulton Street, the project will also contain 6,800 square feet of retail. Rob Rizzi, managing director, Michael Gigliotti, managing director, and Jennifer Keller, director, led the HFF team representing the borrower.

 

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