The Real Deal New York

Fortis projects $221M in sales at tallest planned LICH condo

2 River Park will hold 103 units and rise 440 feet
By Will Parker | January 30, 2018 01:55PM

From left: Joel Kestenbaum, a rendering for the Long Island College Hospital redevelopment in Cobble Hill and Jonathan Landau (Credit: CityRealty and Larry Ford)

Fortis Property Group is moving along with its plans to build a 440-foot-tall luxury condominium tower in Cobble Hill. The firm filed an offering plan for 103 apartments at 2 River Park, records filed with the New York State Attorney General’s office show.

The total projected sales price for the apartments is $221 million, indicating that average unit pricing will be less expensive than at Fortis’ neighboring building under construction, 5 River Park, where it seeks $79 million in sales for just 25 units. Fortis CEO Jonathan Landau did not immediately respond to a request for comment.

2 River Park will be the tallest new construction building in Fortis’ property redevelopment of the Long Island College Hospital. 1 River Park, the third new construction building at the site, will rise 15 stories and hold 48 apartments, although an offering plan for that building has yet to be filed. With $300 million in projected sales now in the pipeline, River Park is one of the most expensive condo developments ever planned in Brooklyn.

Previously, Fortis had considered a different plan for LICH that would have allowed for even greater height and development rights, but which would have also included an affordable housing component. Fortis ultimately decided not to pursue the rezoning required for that alternative plan, much to the dismay of city officials.