The Brodsky Organization shelled out $100 million for a majority stake in a rental tower in Downtown Brooklyn’s City Point megadevelopment.
The 23-story, 230,000-square-foot tower at 7 DeKalb Avenue opened in March 2016. Eighty percent of the building’s 250 units are set aside for below-market rent. It is part of the first phase of City Point, Acadia and Washington’s three-building, 1.8 million-square-foot mixed-use development.
Brodsky already controls another, 44-story apartment tower in the project. Acadia and Washington selected Gary Barnett’s Extell Development to build the third tower, a planned 59-story building at 138 Willoughby Street. [Crain’s] — Konrad Putzier