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| 168 Plymouth Street condominiums rendering, DUMBO, Brooklyn, NY |
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured joint venture equity and construction financing for the development of 168 Plymouth Street, a 46-unit boutique condominium conversion located on the southwest corner of Plymouth and Jay Streets in DUMBO, Brooklyn.
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| Kristen Knapp |
HFF worked on behalf of the developer, Alloy Development, to arrange a joint venture with The Davis Companies. Working on behalf of the new partnership, HFF also secured construction financing from Bank OZK.
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| Christopher Peck |
168 Plymouth will be situated in the heart of DUMBO and down the block from its 85-acre waterfront park. 168 Plymouth will include lofts, townhouses and penthouses.
Residences will feature modern industrial design, which will both honor the history of the neighborhood and the building itself. The project connects two of Dumbo’s last remaining classic industrial loft buildings to be developed into a single address.
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| David Giancola |
168 Plymouth marks Alloy’s 5th project in Dumbo. The firm’s other award-winning projects in the neighborhood include 192 Water Street, 185 Plymouth Street, Dumbo Townhouses and One John Street.
The HFF debt and equity placement team included managing directors Christopher Peck, David Giancola and Jeff Julien, senior director Peter Rotchford and analyst Kristen Knapp.
“The thoughtful aesthetic and community focus that Alloy brings to development has helped transform DUMBO into the neighborhood it is today,” Peck said. “It was a privilege to work with them to help identify the optimal capitalization as they add to their legacy of transformative projects in the area.”
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| Jeff Julien |
About Alloy Development
Alloy is a real estate development company working in New York City. Alloy’s belief in making great architecture guides its practice.
With over $1.6 billion in projects completed or in development since 2006, the company has established itself within the industry as thought leaders for its comprehensive approach to development.
Integral to Alloy’s approach is the celebration and support of the communities in which it works through direct engagement and collaboration. For more information, visit http://www.alloyllc.com/.
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| Peter Rotchford |
About The Davis Companies
The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities.
A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities.
Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet of office, multifamily, retail, hospitality, light industrial, healthcare and bioscience properties across the Eastern United States.
CONTACTS:
CHRISTOPHER PECK
NY Lic. #40PE1175637
HFF Managing Director
(212) 245-2425
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
ohennessey@hfflp.com
