Greenpoint

Developers buy into Greenpoint Landing in $148 million deal

June 6, 2018 By Clarissa Sosin Special to the Brooklyn Daily Eagle
This is 33 Eagle St., which is part of the Greenpoint Landing mega-development, as seen in 2016. Eagle file photo by Lore Croghan

Toronto based real estate developer Brookfield Properties increased its New York footprint after it bought into two development sites in Brooklyn, The Real Deal reported.

According to records filed on Tuesday with the city, Brookfield Properties bought into two of the Park Tower Group’s development sites at Greenpoint Landing, a waterfront site in Greenpoint. Valued at $148 million, the partners financed the deal with a $89 million loan from Industrial and Commercial Bank of China, records showed.

Brookfield announced last month that it would build new rental properties on the sites in partnership with Park Tower, the master developer of Greenpoint Landing.

A Park Tower spokesperson declined to say how much ownership they would have in the new partnership.

The new developments, located on Commercial Street and on West and Eagle streets, will have 1,240 units.

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