(Read more on the debt and equitymarkets.)

BROOKLYN, NY-The Singer and Bassuk Organization arranged a$460-million construction loan for the Edge. The project, which isbeing developed by Jeffrey Levine of Douglaston Development andDillon Read Capital Management, is being built along the East Riverin Williamsburg.

SBO set up the financing with Hypo Real Estate Capital Corp. The$460 million will fund a majority of the $612 million project,which is set to contain 557 condominium units, and 347 affordablerental units. "This site and this project is going to be a catalystin the whole will Brooklyn waterfront," Richard Bassuk, presidentof SBO, tells GlobeSt.com. "You have the condominium units and therental units in probably the best site in Brooklyn and located nearthe subway – which is key." It will also house 61,500 sf of retail,550 parking spots and a waterfront path.