Toll Brothers and Starwood Expected to Win Pier 1 Bid

With the board of the Brooklyn Bridge Park Corporation set to vote next Tuesday on a developer to construct a hotel and condo building at Pier 1, both Crain’s and The Times are reporting that two of the seven original RFP respondents will be awarded the job as a team. “The team…will likely be made up of Toll Brothers and Starwood Capital Group, according to sources,” says the opening paragraph of the Crain’s article. The Times piece cites “an official with knowledge of the deal” saying the same thing. Earlier this year, four of the original seven suitors–Extell Development, RAL Companies, SDS Procida and Two Trees–were eliminated. That left Toll Brothers, Dermot and Starwood, and it looks like Dermot is now the odd man out. To refresh: In addition to 200 hotel rooms and 160 apartments, the project calls for 300 parking spaces as well as a 32,000-square-foot restaurant and a 6,000-square-foot spa. The seven original design proposals can be seen here.
Two Brooklyn Bridge Park Winners Eyed [Crain’s]
Brooklyn Bridge Park Expected to Announce Developers of a New Hotel Complex [NY Times]
Would-be Pier 1 Developers: And Then There Were 3 [Brownstoner]
Possible Plans for Bridge Park Development Site Released [Brownstoner]