Lightstone's Brooklyn Project Moves Ahead With Panel's Nod

Law360, New York (March 18, 2013, 7:00 PM EDT) -- The New York City Planning Commission on Monday approved the Lightstone Group's plans to take over a former Toll Brothers Inc. development site in Brooklyn and build 700 rental apartments after the developer dropped a previous modified plan.

Lightstone will now move ahead with the development “as-of-right,” complying with the existing zoning regulations at the site, instead of seeking further approval of a plan that modified Toll Brothers' original proposal and would have required further zoning allowances.

“Today's decision will allow the Lightstone Group to move...
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