The Real Deal New York

This month in real estate history

December 27, 2012 03:30PM

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Mayor Ed Koch

From the December issue: Mayor Ed Koch and other city officials unveiled an agreement with Forest City Enterprises and the Polytechnical Institute of New York to build a $340 million office, retail and research complex in Downtown Brooklyn 28 years ago this month. The City Hall announcement identified Cleveland-based Forest City as the main developer for the MetroTech Center project, which received a 99-year lease and 22 years of tax abatements as part of the deal. In addition, Polytechnical was selected to build a $12.4 million library. [more]