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Deals & Dealmakers

CompassRock tapped to manage Pacific Park buildings

Manhattan based property management company CompassRock Real Estate has been awarded management of two of the new rental residential developments within Pacific Park Brooklyn (formally known as Atlantic Yards) in Brooklyn, NY.

The first of the new developments, 535 Carlton Avenue, is expected to open in the fall 2016, the second; 38 Sixth Avenue is expected to open in early 2017. Both buildings will be 100% affordable and will contain retail and commercial space.

CompassRock is a subsidiary of the financial services giant CW Capital which also manages the massive Stuyvesant Town development on the East Side of Manhattan.

“We are extremely excited to be working alongside such a well-respected partner as Greenland Forest City Partners. The entire CompassRock management team is looking forward to delivering the highest quality service for the owner of the buildings and future residents,” said David Sorise, CompassRock’s COO.

Pacific Park Brooklyn will encompass 22-acres between Flatbush and 4th Avenues to the west, Vanderbilt Avenue to the east, Atlantic Avenue to the north and Dean and Pacific Streets to the south.

It will include 6,430 residential units, one million square feet of commercial space, 250,000 square feet of new retail stores and restaurants, and eight landscaped acres of publicly accessible open space when it is fully built.

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