By Will Soutter
To promote a 550,000 square-foot opulent mixed-use construction at Brooklyn Bridge Park consisting of commercial, housing and public use developments, Toll Brothers City Living, the metropolitan development department of Toll Brothers, is receiving expert guidance from Herrick, Feinstein LLP in its joint venture with Starwood Capital Group. This LEED-certified project was chosen by New York public as an ideal proposition.
Legal counsel of the Real Estate Department of Herrick under the leadership of Paul Shapses, head of the organization’s Hospitality and Resorts Group, and Mitchell Korbey, head of the organization’s Land Use Practice, guided Toll Brothers throughout the entire joint venture process. Mr. Korbey believes that the scheduled project would make optimum use of the seafront region which has not been used to its capacity till date and paves the path to varied types of progress in the area. Mr. Shapes added that the two major participants in the venture were the ideal candidates to ensure that the region would be developed to its full capacity.
The project is scheduled to have a 200-room hotel and 159 seaside houses. The seaside Brooklyn Bridge Park development would add vibrancy to the surrounding region. The undertaking is scheduled to begin by spring 2013.