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Flank Pays $88M To Buy Carlyle Out Of The Hilton Brooklyn

by therealdeal.com posted 1year ago 1505 views
<p>Architecture and development firm Flank paid $88 million to buy the Carlyle Group out of the Hilton Brooklyn.</p> <p>Flank and Carlyle bought the site at 140 Schermerhorn Street in 2012 for $38.2 million. The partners are developing a 196-key hotel on the property, but hired Eastdil Secured to market the property earlier this year. Last month, the Wall Street Journal reported that Flank would actually&nbsp;<a href="http://therealdeal.com/2016/11/21/flank-buys-carlyle-out-of-brooklyn-hilton-project/">take over</a>&nbsp;Carlyle&rsquo;s stake. At the time, though, the price was not clear.</p>