DUMBO Condominiums, Brooklyn, NY

In 2013, DLJ RECP, Alloy Development, and Monadnock Construction acquired the long-term leasehold of a waterfront lot in the DUMBO neighborhood of Brooklyn, New York. The site was acquired from the Brooklyn Bridge Park Development Corporation and forms part of the northern entrance to the Brooklyn Bridge Park, an 85-acre greenway along the western Brooklyn waterfront. DUMBO, once an industrial zone, has been transformed into a vibrant mixed-use community. DLJ RECP and its partners are developing a 12-story residential building comprising 42 luxury condominium units and approximately 4,000 square feet of retail and cultural space. Most of the units will be large two- to four-bedroom units catering to families who desire the neighborhood's many amenities, park presence, and unobstructed river views.

Photo: Rendering of DUMBO Condominiums, Brooklyn (DLJ RECP Fund V)