Cushman & Wakefield secures $88 million construction loan for Benedict Court

Greenwich, CT Cushman & Wakefield, a global real estate services firm, has arranged a $88 million construction loan on behalf of Lonicera Partners, Nimbus Properties, and Benedict Capital for the development of Benedict Court, a new luxury residential community located at 7–23 Benedict Pl.

Cushman & Wakefield’s Equity, Debt & Structured Finance team, including Gideon Gil, Taylor Geiger, Cecelia Galligan and Nick Pappas, arranged the financing. The loan was provided by Santander Bank.

“Benedict Court is set to raise the bar for luxury living in Greenwich as one of the first large-scale multifamily developments in the area,” said Gil, vice chairman with Cushman & Wakefield. “As a town known for limited new development, the project will meet tremendous demand for new housing in an undersupplied market.”

Upon completion in August 2028, Benedict Court will deliver 120 luxury apartments, including 72 market-rate units and 48 affordable units (approved under Connecticut’s 8-30g statue), alongside 170 below-grade parking spaces and amenities. The development will feature a porte-cochère entrance, a rooftop terrace with views of the town and the Long Island Sound, a resident lounge and chef’s kitchen, coworking spaces, a children’s playroom, a fitness center, a live-in superintendent, and will also offer concierge services.

Located one block from Greenwich Ave., the region’s premier luxury retail corridor, Benedict Court will put residents steps from high-end boutiques, dining, and cafés. The property is also near the Greenwich Metro-North station, offering a one-hour door-to-door commute to Grand Central Terminal and One Vanderbilt, and minutes from I-95 and Rte. 1.