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, a 46-unit boutique condominium conversion located on the southwest corner of Plymouth and Jay Streets in DUMBO, Brooklyn.
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.
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. The distinct styles of the two original buildings, one brick-and-timber and the other concrete with daylight factory windows, will be preserved in the design of the residences.
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.”
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 alloyllc.com
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. For further information, please visit thedaviscompanies.com
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.