First Pacific Park Brooklyn condos to hit the market

278 units for sale at long-delayed development's 550 Vanderbilt

TRD New York /
Jun.June 15, 2015 12:00 PM

UPDATED, 4:54 p.m., June 15: After years of delays, the first condominiums at the Pacific Park Brooklyn development site near the Barclays Center opened for sales this week.

All 278 units at Greenland Forest City Partners’ 17-story 550 Vanderbilt condo development are on the market, with construction also underway on two other rental buildings housing some 600 units. Prices at 550 Vanderbilt will range from $550,000 to $5.5 million, The Real Deal reported earlier this year, with Corcoran Sunshine Marketing Group handling sales.

550 Vanderbilt is the first of four condo buildings that will go up at the Pacific Park Brooklyn development, according to a news release. The long-delayed, $4.9 billion plan for the site, located adjacent to the Barclays Center, calls for 14 residential buildings featuring 6,430 apartments – including 2,250 subsidized units – to be completed by 2025.

A new timeline agreed last June fast-tracked development at the project, formerly known as Atlantic Yards, after Forest City Ratner secured an influx of capital through a partnership with Greenland USA — a subsidiary of Chinese development company Greenland Holding Group. – Rey Mashayekhi

Related Articles

A rendering of 615 Dean Street in Brooklyn and TF Cornerstone president Frederick Elghanayan

TF Cornerstone lands financing for Pacific Park dev sites

Brodsky Org picks up a second Pacific Park development site

Long Island Cheat Sheet: Alibaba co-founder Joseph Tsai could buy Nassau Coliseum… & more

Alibaba co-founder Joseph Tsai with Nassau Coliseum in Uniondale and Barclays Center in Brooklyn (Credit: Getty Images, SHoP Architects, and Barclays Center)

Alibaba’s Joseph Tsai in talks to buy Barclays Center, Nassau Coliseum: report

TF Cornerstone paid $143M for Pacific Park development sites

EB-5 money up in the air after Greenland agrees to sell Pacific Park site

The dismantling of Forest City Ratner

With $6.8B Forest City deal set to close, Brookfield says it’s now the biggest commercial landlord in town