The Real Deal New York

Brookfield turns to GGP for Brookfield Place leasing

Landlord's leasing team overhauled since retail center's opening

June 15, 2015 05:50PM

Rendering of Brookfield Place in the Financial District (inset: Mathrani)

Rendering of Brookfield Place in the Financial District (inset: Sandeep Mathrani)

Sandeep Mathrani’s General Growth Properties is taking over leasing responsibilities at Brookfield Property Partners’ Brookfield Place in the Financial District.

With Brookfield having opened the 250,000-square-foot retail center at 250 Vesey Street earlier this year, the landlord’s leasing team has seen a number of changes.

Mark Kostic, the Brookfield’s manager of retail leasing, left for a senior role at Related Companies as of last week, while Vornado Realty Trust hired Brookfield national director of leasing Ed Hogan at the end of April, according to the New York Observer.

Brookfield also broke off several weeks ago with Philadelphia brokerage McDevitt Company, which consulted on Brookfield Place, and luxury retail broker Soozan Baxter Consulting ended its leasing contract at Brookfield Place in March.

Brookfield owns a stake in GGP and two of its executives, Richard Clark and Brian Kingston, serve on the Chicago firm’s board of directors.

GGP and Jeff Sutton’s $1.78 billion acquisition of the Crown Building in Midtown closed earlier this year, setting an all-time price-per-square-foot record for an office building. [NYO]Rey Mashayekhi