The Real Deal New York

Brookfield plans apartments for Manhattan West

May 07, 2012 09:00AM

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Brookfield President Dennis Friedrich, Phil Wharton, new director of development, and Manhattan West

Long considered only for its office and retail potential, Brookfield Office Properties’ massive Manhattan West development site could include residential, too. Citing information from an investor call, Bloomberg News reported that the developer may include up to 900 residential units in its 5.4 million-square-foot plan.

“We’ve always highlighted the office density because we’re an office landlord,” said Brookfield Office President Dennis Friedrich said. “But we have the ability to build 900 units on that site. That market has really taken off, and may drive greater value for us, so we took a little bit of time to study that.”

The current plans calls for two skyscrapers on the site, located along Ninth Avenue across from Pennsylvania station. New Chairman Ric Clark said the firm is still negotiating to begin construction on the platform above the rail yards.

The Wall Street Journal noted that Brookfield also hired Phil Wharton, a former vice president of development for AvalonBay, to boost its residential staff. Wharton said Brookfield’s plan for Manhattan West includes a retail component that would connect to the High Line. [Bloomberg] and [WSJ, 3rd item]

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