Paul Manafort’s former real estate fixer is the driving force behind $3.5B Bronx megaproject plan

Dynamic Star, which purchased the 12-acre site last month for $32M, is planning mixed-use site that include an e-sports stadium, hotel and Life Science Center

New York /
May.May 22, 2019 11:05 AM
From left: Dynamic Star CEO Gary Segal, renderings of Fordham Landing in the Bronx, and Dynamic Star Director of Development Brad Zackson (Credit: Google Maps and Dynamic Star)

From left: Dynamic Star CEO Gary Segal, renderings of Fordham Landing in the Bronx, and Dynamic Star Director of Development Brad Zackson (Credit: Google Maps and Dynamic Star)

Brad Zackson, the optimistic former real estate point man for Trump presidential campaign manager Paul Manafort, is pitching an ambitious $3.5 billion plan to develop 5 million square feet along the Bronx waterfront.

The project, which is bordered by Fordham Road and the University Heights Bridge, would feature a huge portfolio of space and amenities, including an e-sports stadium, a 700,000-square-foot Life Science Center and around 2,800 residential units. There would also be retail, a hotel, conference center and community spaces.

Connecticut-based Dynamic Star, which is led by Gary Segal and Brad Zackson, a former associate of Manafort and protege is Fred Trump, purchased the site at 320 West Fordham Road last month for $32 million from the Lasala family. Segal, who is a former union electrical contractor, told the Post that the site would be built entirely with union labor. They are reportedly in talks with the City’s Department of Planning, and would have to go through the city’s ULURP process.

As The Real Deal detailed in a 2017 feature story, Zackson is a veteran New York real estate operative with a penchant for fanciful deals. He and Manafort made an unsuccessful run for the Drake Hotel in 2008 (now the site of Harry Macklowe and CIM Group’s 432 Park Avenue) propped up by equity investments from oligarchs in Russia and Ukraine. The deal spurred a federal investigation run by Mueller. In the past, Zackson has outlined plans to build a massive apartment complex in Willets Point, Queens alongside a Chinese firm, as well as a plan to buy the Roosevelt Hotel in Midtown. Neither ever materialized.

Dynamic Star has tapped a host of brokers and advisors to get the project out of the ground. Andy Gerringer of the Marketing Directors representing the developer for residential leasing of almost 2,800 planned units, with a third of which would be affordable. CBRE has been tapped to handle office leasing, while Winick Realty Group’s Jeff Winick will oversee retail leasing. Architects NADAAA, Perkins Eastman and Margie Ruddick Landscape are designing the site. [NYP] — David Jeans


Related Articles

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 
Prana pays Related $36M in Bronx multifamily play
Prana pays Related $36M in Bronx multifamily play
448 East 143rd Street in the Bronx (Credit: Google Maps)
Private developer’s NYCHA project in Mott Haven lands $79M in financing
Private developer’s NYCHA project in Mott Haven lands $79M in financing
1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)
Maddd Equities, Joy Construction score $64M for massive Bronx project
Maddd Equities, Joy Construction score $64M for massive Bronx project
Soho’s zoning madness, such as artists-only lofts and a ban on ground-floor retail, may finally change with a proposed rezoning.
The shopping district that banned retail: Soho’s incoherent zoning
The shopping district that banned retail: Soho’s incoherent zoning
L&L Holding’s David Levinson and Columbia Property Trust's Nelson Mills with a rendering of 261 11th Avenue (L&L, Columbia Property Trust, Terminal Warehouse)
L&L, Columbia Property Trust land $1.3B loan for Chelsea office project
L&L, Columbia Property Trust land $1.3B loan for Chelsea office project
Towns and cities have begun restricting housing construction to save their supply of H2O. (iStock)
“Why are we building houses if we don’t have enough water?”: Towns react to scarcity
“Why are we building houses if we don’t have enough water?”: Towns react to scarcity
(iStock)
Locals: Put housing, not warehouses, on landfill site
Locals: Put housing, not warehouses, on landfill site
Fires raging in the western United States are beginning to have a negative impact on lumber output. (Getty)
Raging wildfires threaten lumber market, home builders’ costs
Raging wildfires threaten lumber market, home builders’ costs
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...