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Greenpoint Landing residential property Greenpoint Landing developments/ Brookfield Properties architectural rendering

NEW YORK CITY—In a joint venture, Brookfield Properties and Park Tower Group will develop two new rental development sites at Greenpoint Landing, on the Brooklyn waterfront. The buildings will house approximately 1,240 units, 30% of which will be affordable. Construction is expected to being in 2019. The total cost to develop these two new sites which includes an extension of the waterfront esplanade is $1 billion.

In total, Brookfield and Park Tower Group are now developing more than 2,000 units across four sites on the Greenpoint waterfront. In 2015, Brookfield and Park Tower Group announced a partnership to build their first two rentals at Greenpoint Landing, totaling 800 units. The first building is expected to begin leasing by the end of this summer. 

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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