Brookfield closes on stake in $650M Waterside Plaza complex

Brookfield Property Partners purchased a stake in Richard Ravitch’s Waterside Plaza, a four-tower complex along the FDR Drive and East 25th Street, which valued the asset at $650 million, according to sources familiar with the deal. Ravitch, the former New York lieutenant governor and Metropolitan Transportation Association head, built the complex with nearly 1,471 apartments in 1974 under the Mitchell-Lama affordable financing available at the time. But about 20 years ago he chose to exit […]

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