The Real Deal New York

Brookfield underdog in Hudson Yards contest

December 17, 2007 02:09PM

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Brookfield Properties Corp. is regarded as a formidable office
landlord, but winning the bid to build the massive Hudson Yards project
would confer instant credibility to the upstart developer. Hudson Yards
would add a hulking 12 million-square-foot development site to its
portfolio of 16 million square feet. It could also add as much as 40
percent, or about $400 million, to its operating profit. Brookfield,
however, does not have an anchor tenant in place and is seen as a long
shot.

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