$76M to Build on LIU’s Athletic Fields at 161 Ashland Pl. in Downtown Brooklyn

Developer RXR Realty has paid Long Island University $76 million for the development rights to build a new, 34-story apartment building on the university’s athletic fields at 161 Ashland Pl. in Downtown Brooklyn.

The University will build new athletic fields for itself on the rooftop to the podium of the new building, and will also get space on the lower floors of the new building.  It intends to spend $35 million of its $76 million to fit out its new space, according to reporting in Curbed, following an earlier story in Newsday.

RXR plans to build 476 apartments in the building’s residential tower, including 140 affordable units.

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