From the March issue: Major national and Manhattan-centric developers have ramped up their involvement in Brooklyn in the last year. Sources attribute that to high Manhattan land prices and the greater availability of large parcels in Brooklyn. “Larger developers don’t want to do 30,000-square-foot buildings,” David Maundrell, founder of brokerage aptsandlofts.com, said. “They want to start at 100,000 square feet.” Manhattan developers FLAnk and the Brodsky Organization, as well as national players like the Lightstone Group, are gearing up to launch their first Brooklyn projects in the next two years, joining established Brooklyn players like Douglaston Development, the Hudson Companies, Two Trees and Forest City Ratner.
This is an excerpt from “Brooklyn’s building bonanza,” which originally appeared in The Real Deal’s March issue. To read the complete article click here.