Renderings courtesy of ArX Solutions
Last fall, Brookfield Properties bought two sites in Mott Haven for $165 million—the most expensive transaction on record for development in the Bronx—from Somerset Partners and Chetrit Group. On Thursday, the developers revealed a $950 million plan for a 4.3-acre mixed-use development that will bring more than 1,350 apartments to the South Bronx neighborhood, of which 30 percent will be affordable. Branded as Bankside, the project will also include a public waterfront park and promenade, as well as ground-floor retail and community facility spaces.
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A previous rendering of 101 Lincoln Avenue via Hill West Architects
The most expensive transaction on record for a development in the Bronx officially closed Wednesday, after Brookfield Property Partners picked up the two sites for $165 million from Somerset Partners and Chetrit Group. Originally, Somerset and Chetrit planned for all of the development’s 849 residential units to be market rate, and while Brookfield intends to keep the same number of apartments, they are designating 30 percent of them affordable, according to the Real Deal.
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Photo via Nick Sherman’s Flickr
Brookfield Property Partners announced on Monday it has acquired seven retail storefronts across four properties in the West Village, an attempt to rescue retail in a neighborhood which has had a high rate of vacancies for years. The company hopes to attract e-commerce companies that are interested in testing out brick-and-mortar locations. The properties, found along Bleecker Street between West 10th and West 11th Streets, measure 24,000 square feet. Brookfield paid New York REIT $31.5 million to acquire the properties.
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, Thu, September 21, 2017
Five Manhattan West. Rendering via Millerhare.
Governor Andrew M. Cuomo announced today that tech giant Amazon will be growing its presence in New York City. The company just signed a lease for a 359,000-square-foot administrative office at Five Manhattan West, Brookfield Property Partners’ 16-story, 1.8 million-square-foot Skidmore, Owings & Merrill-designed building located on Tenth Avenue between 31st and 33rd Streets. The new addition is expected to create 2,000 new jobs in finance, sales, marketing, and information technology. The offices will be the main New York location for Amazon Advertising, which handles sales, marketing, product, design, engineering and more. “We’re excited to expand our presence in New York–we have always found great talent here,” said Paul Kotas, Amazon’s Senior Vice President of Worldwide Advertising.
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