Greenland Forest City scopes out another Barclays Center site for office tower

Developer is already considering 1.5M sf skyscraper at Pacific Park

TRD New York /
Feb.February 26, 2016 09:08 AM

Greenland Forest City is now looking at another possible site for an office tower near its Pacific Park development near the Barclays Center in Downtown Brooklyn.

Earlier this month, the developer — a partnership between Forest City Ratner Companies and Chinese real estate investment firm Greenland USA — was looking into securing the approvals needed to transfer up to 1.1 million square feet of development rights to 590 Atlantic Avenue. If the transfer takes place, a roughly 1.5 million-square-foot office tower could rise at the site, located close to Brooklyn’s largest transit hub at Atlantic Avenue.

Another possibility is a lot at the southwest corner of Atlantic and Sixth avenues directly behind the arena known as B4, DNAinfo reported. Right now, the site is for residential and some retail, according Forest City Ratner spokeswoman Ashley Cotton. But if the state government allows commercial rights from another Pacific Park building — 461 Dean Street on Flatbush Avenue — to be shifted to the site, a large office building could be built, DNAinfo reported.

Cotton told residents at a community board meeting that the changes would not add extra square footage to the complex or impact 2,250 units of affordable housing to be built within Pacific Park. No timeline for the plan was given.

Both plans need state approvals. At 590 Atlantic Avenue, currently the site of Modell’s Sporting Goods store and a P.C. Richard & Sons electronics and appliances store, Greenland Forest City presently has rights to build a 440,000-square-foot office property.

P.C. Richard recently filed a lawsuit against Forest City Ratner over the eminent domain condemnation of its location, as The Real Deal reported last month. [DNAinfo]Dusica Sue Malesevic

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

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

Shareholders greenlight Brookfield’s $6.8B purchase of Forest City