Borough Developers buys site for trio of 99-unit DoBro buildings
Borough Developers is ready to bring the next set of 99-unit buildings to New York City after buying a Downtown Brooklyn site. Shimon Kleinman’s firm purchased the Bridge & Fulton Development Site from ICER Real Estate for $83.5 million, the Commercial Observer reported. The site consists of 485 Fulton Street, plus 147 Lawrence Street. JLL’s Ethan Stanton, Michael Mazzara and Brendan Maddigan represented both sides of the transaction. Borough Developers also landed an $85 million acquisition and pre-development loan from BridgeCity Capital. “The combination of scale, location and development flexibility made 485 Fulton particularly compelling,” Mazzara said in a statement […]
This article originally appeared on The Real Deal. Click here to read the full story.
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