Skip to content
Subscriber Only

China Developer to Take Majority Stake in Atlantic Yards

Greenland Holding Group Co., a developer building one of China’s tallest towers, agreed to buy a 70 percent stake in New York’s Atlantic Yards, the 22-acre residential and commercial real estate project in Brooklyn.

Greenland signed a memorandum of understanding with Forest City Ratner Cos. to co-develop the project, including infrastructure and apartment units, the companies said in a joint statement today. The deal excludes the Barclays Center, home of the National Basketball Association’s Brooklyn Nets, and the first housing tower under development.