Brooklyn Boro

Planned Brooklyn Bridge Park Pier 6 highrises score construction financing

April 20, 2018 Brooklyn Daily Eagle
Rendering courtesy of ODA-RAL Development Services / Oliver’s Realty Group

RAL Companies, Vanke U.S. and Oliver’s Realty Group have scored $411 million in construction financing and joint venture equity for their luxury highrise development at Brooklyn Bridge Park’s Pier 6, according to Commercial Observer.

Bank of the Ozarks provided a $251 million construction loan for the deal, while Meridian Capital Group’s Drew Anderman and Alan Blank arranged the transaction, Commercial Observer reported. The project, which will include a 28-story luxury condo tower and a 14-story rental tower, was opposed by community groups for years on the grounds that it didn’t comply with the park’s General Project Plan. In February, a state Supreme Court judge dismissed a lawsuit by the Brooklyn Heights Association.

 

Leave a Comment