Brooklyn Bridge Park contenders narrowed to 3

The contenders to redevelop Brooklyn Bridge Park’s residential and hotel components have been whittled down to three from seven, sources told Crain’s.

The three with their hats still in the ring are the Dermot Company, Toll Brothers and a partnership consisting of Starwood Capital and Alloy Development, Crain’s said.

Brooklyn Bridge Park Corp., the city entity in charge of the park, began searching for a developer for the residences and hotel last August. In November, seven developers were vying for the project. The chosen developer will lease the land from the city and help offset the estimated $16 million annual bill for maintaining the public space in the park. [Crain’s]