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Atlantic Yards/Pacific Park graphic: what's built/what's coming + FAQ (pinned post)

Forest City New York makes its presence (and logo) known; 550 Vanderbilt now among three highlighted projects

The advertisement at bottom, in the program for the 9/17/17 Brooklyn Book Festival, was the first I'd seen using the new name and logo for Forest City New York, until earlier this year Forest City Ratner.

That logo, excerpted at right in two forms, is basically the corporate logo below left, used by parent Forest City Realty Trust, plus a local identifier. It's a lot different from the previous logo, below left further down.

This week came another sighting. On Monday, in an announcement indicating that middle-income affordable units were available for those applying outside the lottery at 461 Dean, the logo appeared again, below right.

Note: the logo did not appear on the separate announcement indicating that middle-income affordable units were available for those applying outside the lottery at 535 Carlton because that building is being developed by the joint venture Greenland Forest City Partners.

Among the towers, only 461 Dean is slated to be solely owned by Forest City and the rest are supposed to be developed by the joint venture, 70% owned by Greenland USA, an arm of Shanghai-based Greenland Holdings, which is owned significantly by the government of Shanghai.

That said, the (unsuccessful, so far) marketing of three development sites and the possibility that parent Forest City Realty Trust will dissolve or sell off assets, including those from its New York subsidiary, could mean a new owner or joint venture for future Atlantic Yards/Pacific Park development sites.

Looking at Forest City's New York icons

In the ad below, at left is an image of the 550 Vanderbilt condo. At center is the 8 Spruce Street rental building. At right is the New York Times Building.

The latter two are in Manhattan; presumably, an ad a few years back would have featured the Barclays Center, which Forest City built. It then was majority owner of the operating company. Now the arena's operated by Mikhail Prokhorov's Brooklyn Sports & Entertainment.

The renaming from Forest City Ratner to Forest City New York was accomplished without any official notice, perhaps because it reflected not only a regularization of company subsidiaries--otherwise identified by location--but also the diminishment of Chairman Bruce Ratner, who was nudged off the board of the parent Forest City Realty Trust.


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