BROOKLYN BRIDGE TOLL
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|The Brooklyn Bridge Park board has chosen Toll Brothers City Living and Starwood Capital to build a hotel and condos next to Pier 1, just south of Dumbo. Toll Brothers' Fred Cooper (right, with colleague David Von Spreckelsen—must be hot in the park in a suit today, guys) told us the park liked each firm's respective residential and hotel experience the JV's ability to build with cash, though he says a loan still might happen. The JV's payments on the 97-year ground lease will fund park maintenance and improvements, which in turn benefit the project.|
|The 200 hotel rooms (Starwood Capital's luxury, eco-friendly 1 Hotels brand) and 159 condos (reminiscent of Brooklyn's brownstones) will break ground next summer and deliver in 2015. The residences will have 12k SF of amenities, and the hotel will boast 16k SF of restaurants, a 6,000 SF spa and fitness center, 2,000 SF of retail, and 300 underground parking spaces. Event planners take note: Fred says the project will fill an NYC void with 16k SF of event space (by 2016, any wedding album without Manhattan and the Statue of Liberty in the background will be sooooo 2014). Rogers Marvel Architects' Jonathan Marvel, who lives blocks from the 85-acre park, is working on the new project's design, which likely will be ready to show to the park board in a few months.|