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Condo Conversions

It looks like changing the schedule of payments to the Sag Harbor Community Housing Trust really was all that was needed to find funding for the much-delayed Bulova Watch Factory Condominiums. After the original agreement was amended, Cape Advisors was able to finalize a deal with the commercial real estate arm of Deutsche Bank. The bank will provide a $60M investment for the construction of 65 lofts and townhomes. Construction in the project is expected to begin this fall, some 30 years after the factory closed its doors. [Previously, Sag Harbor Express]