Brause Realty Inc. and Lonicera Partners LLC have successfully secured a $75 million construction financing deal for their Class A mixed-use development located at 255 East 39th Street in Murray Hill. The loan was provided by J.P. Morgan and First Citizens Bank, with Lonicera Partners LLC serving as the project’s development manager.
The borrower was represented by Cushman & Wakefield’s Equity, Debt & Structured Finance team consisting of Gideon Gil, Lauren Kaufman, Zachary Kraft, and Cecelia Galligan. This highly anticipated project is expected to be completed in the fourth quarter of 2025 and will feature a 20-story building offering stunning views of the East River along with 157 apartments and approximately 4,687 square feet of commercial space.
In addition to its luxurious amenities, this development will also include affordable housing units under the Affordable New York (421-A) real estate tax abatement program. According to David Brause – President of Brause Realty Inc., whose family has owned property on this block since1942 – they are thrilled to finally bring this long-awaited project to fruition.
