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Old Posted May 29, 2014, 12:03 AM
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Megalith reverses, sells Dumbo parcels to Carlyle affiliate for $31M

An affiliate of Washington, D.C.-based global asset management firm Carlyle Group acquired three contiguous parcels in Dumbo from Midtown developer Megalith Capital Management for a total of $30.6 million — the same amount the sites changed hands for last year, according to property records filed with the city today.

Megalith’s plans called for a 12-story building with one- and two-bedroom apartments asking between $3,000 and $6,000 per month in rent, as previously reported. Suffern, N.Y.-based Aufgang Architects had been hired to design the structure.

In a response to a request for comment regarding the deeds, a spokesperson for Megalith Capital Management said an affiliate of the Carlyle Group has invested into a partnership with Megalith Capital Management and Urban Realty Partners. Despite the sale, Megalith said the rental project would proceed. Megalith and Urban Realty will remain as operators, records show.
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