search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boom
New York

Alloy, Monadnock trounce rivals in bid for Dumbo project

John Street project renderings (Credit: Alloy)
John Street project renderings (Credit: Alloy)

Brooklyn Bridge Park selected Alloy Development and Monadnock Construction to develop a 130-unit apartment building on John Street in Dumbo, beating out a consortium of rivals gunning for the project, Crain’s reported.

The 9,600-square-foot site, just north of the Manhattan Bridge, will be part of a long-term lease that will help fund the park’s continued maintenance.

Sign Up for the undefined Newsletter

The Brooklyn-based developers had twice tried — and failed — to bid for contracts to build a hotel and apartments at Pier 1, losing out to Toll Brothers. The national developer has partnered with Starwood Capital Group to develop a 193-room hotel and “townhouse-style” condominiums at the site.

This time around, Alloy and Monadnock triumphed over Toll Brothers, the Laboz family’s United American Land, and a European group working with architects Diller Scofidio + Renfro. [Crain’s] — Julie Strickland

Tags
Alloy DevelopmentBrooklyn Bridge ParkMonadnock Construction