Greenland Forest City Partners and the Brodsky Organization have secured a $460 million construction loan from a consortium led by M&T Bank + Bank of New York Mellon for its project at 18 Sixth Avenue in Brooklyn’s Pacific Park, according to the NYPost.
- Plans: Upon completion, the 500-foot-tall tower will span over 740,000 square feet, and contain 858 rental apartments (258 will be affordable).
- Worth Noting: The building is a key component of the 22-acre complex that was launched 14 years ago as Atlantic Yards, but stalled under previous developer Forest City Ratner.
- Be Smart: TF Cornerstone has closed on its acquisition of 595 and 615 Dean Street from Greenland Forest City Partners for $143.1 million. The two development sites at Pacific Park allow for the construction of 644,400 square feet.