Brodsky lands $144M BNY construction loan for Pacific Park building

Building at 662 Pacific Street will have 312 units

New York /
Sep.September 11, 2019 12:25 PM
The Brodsky Organization’s Daniel Brodsky and a rendering of 664 Pacific Street in Brooklyn (Credit: Getty Images and Pacific Park Brooklyn)

The Brodsky Organization’s Daniel Brodsky and a rendering of 664 Pacific Street in Brooklyn (Credit: Getty Images and Pacific Park Brooklyn)

The Brodsky Organization landed more than $140 million in construction financing from Bank of New York Mellon to develop one of the Pacific Park apartment buildings it snapped up last year.

The bank provided Brodsky with $144 million to develop the 312-unit rental building at 662 Pacific Street, property records filed with the city Wednesday show.

A representatives for Brodsky was not immediately available for comment and a spokesperson for BNY declined to comment.

Brodsky bought the site, at the corner of Dean Street and Sixth Avenue, in September of 2018 from Greenland Forest City Partners, which had struggled to develop the massive complex, once known as Atlantic Yards.

Brodsky doubled down earlier this year when it formed a joint venture with Greenland Forest City to develop another rental building nearby at 18 Sixth Avenue with 859 units.

The developer reportedly broke ground on both projects in April.

Correction: An earlier version of this article misstated the number of units at 662 Pacific Street.


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