The Real Deal New York

China’s Greenland, Forest City to launch Pacific Park’s first condos this summer

Corcoran Sunshine to market 278 units at 550 Vanderbilt
By E.B. Solomont | March 02, 2015 01:15PM

After more than a decade of planning, the first condominiums at Pacific Park Brooklyn – formerly Atlantic Yards – are set to hit the market this summer.

550 Vanderbilt, a 17-story building at the corner of Vanderbilt Avenue and Dean Street, will have 278 apartments, ranging from studios through four-bedroom units, as well as a handful of maisonettes and penthouses. Corcoran Sunshine Marketing Group will handle sales. Prices will range from $550,000 to $5.5 million, according to the teaser site for the project, which is now live.

COOKFOX is designing the building, with Thomas Balsley Associates serving as the landscape architect. The property has more than 10,000 square feet of amenities, including a landscaped roof terrace on the eighth floor, as well as a residents’ lounge, library, children’s playroom, guest chefs’ kitchen and fitness center.

Developer Greenland Forest City Ratner Partners is a partnership between China’s Greenland Group and Forest City Ratners. The developer renamed the $4.9 billion project Pacific Park in August. When completed, it will have 14 residential buildings and eight acres of green space. In addition to 550 Vanderbilt, developer Greenland Forest City Ratner Partners is currently building 535 Carlton Avenue, which will contain roughly 300 affordable units.