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How Brookfield went from a potential lender to the owner of a massive Bronx project

How Brookfield went from a potential lender to the owner of a massive Bronx project

When Somerset Partners and the Chetrit Group were getting started on their massive South Bronx project, Brookfield Property Partners was in talks to be a possible lender. Instead, it’s becoming the owner. Chetrit and Keith Rubenstein’s Somerset Partners are selling the site of their megaproject to Brookfield for about $165 million, according to sources familiar with the deal. The developers initially spent $58 million acquiring 2401 Third Avenue and 101 Lincoln Avenue along the Mott […]


Source: realdeal

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