Megalith Acquires Lincoln Square Properties from Disney for $85M
Gus Delaporte April 1, 2014, 2:55 p.m.
Residential real estate developer Megalith Capital Management has acquired a block of three properties in the vicinity of Lincoln Square for $85 million, according to city records filed earlier today.
The seller of the contiguous block of office properties, located at 36, 38 and 40 West 66th Street, is an entity affiliated with The Walt Disney Company. Samvir Sidhu, the managing principal of Megalith Capital, signed the purchase agreement, which is dated March 24.
Megalith Capital Management is currently developing residential projects at 200 Water Street in Dumbo and 6 Cortlandt Alley in Tribeca.
RCG LV Debt V REIT, a fund associated with RCG Longview, partially financed the acquisition with a $55 million mortgage, public records show.
A spokesperson for the buyer declined to comment on the deal. Disney did not immediately return requests seeking comment.