The Real Deal New York

Alloy, Monadnock trounce rivals in bid for Dumbo project

July 31, 2013 03:30PM

Brooklyn Bridge Park selected Alloy Development and Monadnock Construction to develop a 130-unit apartment building on John Street in Dumbo, beating out a consortium of rivals gunning for the project, Crain’s reported.

The 9,600-square-foot site, just north of the Manhattan Bridge, will be part of a long-term lease that will help fund the park’s continued maintenance.

The Brooklyn-based developers had twice tried — and failed — to bid for contracts to build a hotel and apartments at Pier 1, losing out to Toll Brothers. The national developer has partnered with Starwood Capital Group to develop a 193-room hotel and “townhouse-style” condominiums at the site.

This time around, Alloy and Monadnock triumphed over Toll Brothers, the Laboz family’s United American Land, and a European group working with architects Diller Scofidio + Renfro. [Crain’s]Julie Strickland