Pacific Park Advances with Co-Developers Named for Brooklyn Mega-Project
U.S. Immigration Fund (USIF), a leading EB-5 Regional Center, announced a new development team to advance the mixed-use Pacific Park (formerly known as Atlantic Yards) project in Downtown Brooklyn. Cirrus Real Estate Partners and LCOR have been selected as co-developers on the 22-acre project, which was launched in 2003. Empire State Development and the Metropolitan Transportation Authority have approved both Cirrus and LCOR.
“This represents a turning point not only for our investors but also for the project, building on New York City’s continued commitment to housing and transit connectivity,” said Nicholas Mastroianni, president of USIF.
USIF and Fortress Investment Group stepped up after Greenland USA, which acquired a majority stake in the project’s residential portion from then-developer Forest City Ratner, defaulted on its loans during the pandemic. As it stands, the Barclays Center arena and several towers are completed, while multiple new residential towers are pending construction.
Hear from top leaders at Cushman & Wakefield, Thorofare Capital, Charney, GFP, Greystone and more at Connect New York Apartments Investment & Finance on October 23.
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Terra, Fortune Ink $220M Key Biscayne Condo Financing
Terra and Fortune International Group secured a $220 million predevelopment loan from Blackstone Real Estate Debt Strategies for their planned ultra-luxury condominium development on the former Silver Sands Beach Resort property at 301 Ocean Drive in Miami’s Key Biscayne. Walker & Dunlop Capital Markets Institutional Advisory, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean...
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Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 units nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout