NEW YORK (December 12, 2008) — LCOR, the real estate investment and development company, has secured $33 million in construction financing for a 142-unit residential rental property located at 34 Berry Street in the lively Williamsburg neighborhood of Brooklyn.

Amenities for the $69 million multifamily project, which is scheduled for a spring 2010 completion, will include a landscaped outdoor garden, a rooftop terrace and lounge, a fitness center, a business meeting room and on-site parking for 71 cars.

The loan was originated by Richard Bassuk of Singer & Bassuk; the lender was Bank of America.

The project team includes architect Perkins Eastman and general contractor Ryder Construction. Rose Associates is providing initial lease-up assistance.

LCOR will own and manage the property.

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