Rockefeller Group JV with Park Tower for development in Greenpoint Landing, NY
We advised the Rockefeller Group on the joint venture
Davis Polk advised affiliates of the Rockefeller Group on the formation of a joint venture with an affiliate of Park Tower Group to own and develop two lots as part of the Greenpoint Landing development. Rockefeller Group has the majority interest in the joint venture and its initial equity contribution was approximately $30 million dollars. The properties will be developed into a mixed use commercial and luxury residential condominium. The property is part of a 22-acre master-planned development site located on the Brooklyn waterfront, transforming a former industrial area into a multi-building development.
Rockefeller Group is a leading U.S. real estate developer, owner and operator known for pioneering large-scale urban mixed-use development. The company began with the development of Rockefeller Center.
Park Tower Group is a New York-based, family-owned, real estate developer and manager.
The Davis Polk real estate team included partner Michael J. Rishty and associates Paulina Gordon, David Beizer and Shua Mermelstein. Partner Ethan R. Goldman provided tax advice. All members of the Davis Polk team are based in the New York office.