Carlyle Group, Z+G Property Group Acquire Williamsburg Rental Building for $98M
A joint venture between The Carlyle Group and Z+G Group has acquired 8 Marcy Ave, an eight-story luxury rental building in Williamsburg, Brooklyn, for $97.5 million.
Developed by Prospect Development, the building features 123 units, including market-rate and affordable apartments, were fully leased within three months. The building also includes two fully occupied commercial units.
JLL represented the seller with a team led by Ethan Stanton, along with Jeffrey Julien, Brendan Maddigan, Stephen Palmese, Rob Hinckley, Michael Mazzara, Winfield Clifford, Steven Rutman and Jay Leshinsky. JLL also arranged $73.6 million in acquisition financing for the buyer with Invesco Real Estate.
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