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Pair of Brooklyn Future MF Sites Closes $100M in Financing

NEW YORK CITY—Provided to a joint venture and an affiliate of the Carlyle Group, the financing will support one warehouse conversion and one newly constructed residential development.

By Rayna Katz | Updated on May 29, 2014

NEW YORK CITY—A joint venture between Megalith Capital Management and Urban Realty Partners has entered into a partnership with an affiliate of the Carlyle Group and closed on construction financing with Bank Leumi USA for the over $100 million development of 200 Water St. and 177 Front St. in Brooklyn.

“We are pleased to have a new equity partner and construction lender as we move forward with our continued goal to create new condominium residences and rental apartments within the context and full recognition of this emerging New York City neighborhood,” says Sam Sidhu, CEO of Megalith Capital Management.

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