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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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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Sale/Acquisition
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