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Jenel Management lands financing to develop 540 Fulton Street

One of the many projects in the Downtown Brooklyn area

Rendering of 540 Fulton Street (Credit: CityRealty)

David Dushey’s Jenel Management has secured a $207.7 million construction loan from Otera Capital Investments and Apollo Commercial Real Estate Finance for the development of 540 Fulton Street, according to CO. The Downtown Brooklyn project is expected to be completed by 2020. 

Plans: The 42-story mixed-use property will consist of residential apartments (180,000 SF), office space (103,000 SF), and a retail component (21,000 SF).

Other projects in the area include… JDS Development’s 9 Dekalb, Extell’s Brooklyn Point at 138 Willoughby Street, and JEMB‘s One Willoughby Square.

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