The Adam Yauch playground -- formerly Palmetto Playground, on State Street in Brooklyn Heights -- was unveiled Friday, the New York Daily News reported.
Yauch, who grew up near the playground, died of cancer a year ago Saturday.
"I just feel so delighted for this recognition," said Yauch's mother, Frances. "He's had recognition from the whole world, but somehow to have this in my own back yard is really very nice."
The playground dedication ceremony was attended by Yauch's mother and father, Noel, as well as fellow Beastie Adam "Ad-Rock" Horovitz, Brooklyn Borough President Marty Markowitz, City Councilman Steve Levin and Brooklyn Parks Commissioner Kevin Jeffrey.
"Me and Adam, we were hanging out in high school late one night and we were walking around Brooklyn and we ended up in this park and he told me how he used to play in this park," said Horovitz. "I think he'd think it was pretty [expletive] cool!"