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Pacific Park Brings in Brodsky, TF Cornerstone as Partners
Greenland Forest City Partners is bringing in TF Cornerstone and the Brodsky Organization as development partners for the next phase of Pacific Park, the 22-acre mixed-use project in Downtown Brooklyn. TF Cornerstone will buy two parcels and Brodsky will acquire a third, with the two deals yielding three mixed-income rental apartment buildings. Terms were not disclosed.
The venture between Greenland USA and Forest City Realty Trust is now 95% owned by Greenland following June’s restructuring. “Greenland Forest City Partners is now in a position to accelerate development at Pacific Park,” said Scott Solish, EVP of development at Greenland Forest City. He cited TF Cornerstone and Brodsky as “two developers that have deep roots in New York City and are uniquely qualified to work with us in moving Pacific Park forward.”
Greenland Forest City expects to begin construction on the project’s tallest building (pictured) next spring. Perkins Eastman will design the property.
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