Case Study: a New York City based family office creates a profitable Brooklyn joint venture with Lee & Associates

New York City Based Family Office creates a joint venture for a 90,000 SF Brooklyn project with Lee & Associates

The customer, a New York City based family office and long-time property owner, lacked ground-up development experience and was unable to secure adequate construction financing for a Brooklyn waterfront warehouse conversion. Lee & Associates provided owner representation services to help them determine and implement the most profitable strategy for creating a mixed-use building.

Lee & Associates structured a joint venture with an experienced general contractor, who also became a property owner, to provide the necessary expertise and equity. After a delay due to an expiring tax program, Lee & Associates re-underwrote the transaction and secured market-rate construction financing, transforming a one-story warehouse into a valuable mixed-use asset that is significantly more profitable for the family ownership.