Square Mile Capital Management has provided a $180 million construction loan to the developer behind a planned 29-story tower in Brooklyn. The financing will allow Manhattan-based Hope Street Capital to complete a planned 280,000-square-foot property at 550 Clinton Avenue in Clinton Hill. The project will include 284 residential units, 60,000 square feet of retail space and an outdoor pool, according to the Commercial Observer. The landlord’s design won approval from New York’s Landmarks Preservation Committee
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Aurora Capital Associates has an idea to drive more shoppers to the Meatpacking District — literally. And there’s a twist. The real estate investment firm is exploring how the district could reimburse shoppers’ rideshare if they spend a certain amount of money. It’s a modern version of the old practice of reimbursing parking-garage fees based on mall receipts, with a new element: data-sharing. The neighborhood’s Business Improvement District, property owners and perhaps a corporate sponsor
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