SATURDAY • JULY 3, 2004
Including Carroll Gardens-Cobble Hill Paper, Downtown News, DUMBO Paper and Fort Greene-Clinton Hill Paper Brooklyn’s REAL newspapers
Published every Saturday — online all the time — by Brooklyn Paper Publications Inc, 55 Washington St, Suite 624, Brooklyn NY 11201. Phone 718-834-9350 • www.BrooklynPapers.com • © 2004 Brooklyn Paper Publications • 18 pages • Vol. 27, No. 26 BWN • Saturday, July 3, 2004 • FREE RATNER’S MONEY PIT Study: Arena would cost city $1/2-billion By Deborah Kolben Yards project on our delicate city The Brooklyn Papers and state finances,” the report reads. An economic analysis re- In addition to their independent analysis, Peebles said that he and leased this week blasted de- Kim consulted independent think eloper Bruce Ratner’s Atlantic tanks, professors and non-profits Yards arena and high-rise plan for their study. as a money loser that would Ratner purchased the New Jer- cost the state and city more / Greg Mango / Greg sey Nets this year and, pending ap- than half-a-billion dollars. proval of the NBA, plans to move “Make no mistake, this proj- them to Brooklyn. He has main- ect from Forest City Ratner will tained that the project would use be using taxpayer money, and almost no public money because it loads of it,” said Gustav Peebles, would be financed largely by the of Fort Greene, a Columbia Uni- tax revenue it would generate. versity researcher who co-au- Papers File The Brooklyn But even Zimbalist, in his an- thored the report with Jung Kim, Bruce Ratner alysis, estimated that Atlantic an urban planner. Yards would cost taxpayers at Peebles said he felt compelled ber of Develop–Don’t Destroy $449 million. Pressed by a coun- to undertake the study after a Brooklyn, a group opposed to the cilwoman at a public hearing the Prospect Heights project, Peebles / Greg Mango / Greg sports economist commissioned day the Zimbalist study was re- by Ratner claimed the $2.5 bil- this week charged sports econo- leased in May, Forest City Ratner lion Atlantic Yards project mist Andrew Zimbalist based his Vice President James Stuckey ac- would put $800 million into city Ratner-commissioned Atlantic knowledged that the public’s price and state coffers. Yards report on faulty assumptions tag for Atlantic Yards would be in The Peebles and Kim report and “misleading” figures. the hundreds of millions. The Brooklyn Papers The Brooklyn concludes that the project will “By reanalyzing the data and the A Forest City Ratner spokes- be a net loss to taxpayers — to assumptions, we come to much man declined to comment for this the tune of $506 million. more negative conclusions regard- article. Mermaids on parade An anthropologist who studies ing the impact of the entire 17 high- In addition to the Frank Gehry- Bunny Love (right) hangs with Venus the Fiji Mermaid during the annual costume parade in Coney Island on Sunday. See story on page 5. economic history and is a mem- rise and arena Brooklyn Atlantic See RATNER on page 4 Familiar faces at Nathan’s dog Fireworks shut Heights By Deborah Kolben And to meet those expectations they will close Landing running a close second. The Brooklyn Papers several major neighborhood arteries to both traffic Police are warning anyone planning to travel to and parking. Brooklyn Heights to leave their cars at home as parking Police are expecting Brooklyn Heights and Running above the Brooklyn-Queens Expressway in the neighborhood — which is normally a tough go eating contest Fulton Ferry Landing to be packed with specta- along the East River, between Remsen and Orange — will on July 4 be near impossible as several streets tors angling for a spectacular view of Sunday’s streets, the promenade should offer the best view of are closed to vehicles. Even residents will have to move By Krista Larson Fourth of July fireworks extravaganza. the Macy’s sponsored pyrotechnics, with Fulton their cars from some streets, which will have fliers post- ed, or face relocation by tow truck, police said. Associated Press The streets closed to traffic between the hours Bill “El Wingador” Sim- of roughly 6 pm and some time after crowds have mons traces his competitive dispersed will be: eating abilities way back: — Montague, Remsen and Pierrepont between “As soon as I could walk I Court Street and the promenade. — Furman and Hicks streets between Atlantic Av- ran to the dinner table enue and Old Fulton Street. before my sister got there.” — Columbia Heights, Montague Terrace and Pier- Now the four-time Phila- repont Terrace, between Remsen and Old Fulton delphia “Wing Bowl” cham- streets. pion can add another compet- — Henry Street between Atlantic Avenue and itive eating title to his Cadman Plaza West. resume: New Jersey Turnpike THIS WEEKEND This year, Macy’s department store, which spon- hot dog king. sors the annual event, is expanding the extravaganza Simmons, 42, of Wood- with six barges in three locations. Three barges will be on the East River between Manhattan and Queens, bury Heights, downed 16 hot Mango / Greg dogs in 12 minutes Friday, just south of Roosevelt Island; two will be just south besting 13 other contestants of the Brooklyn Bridge, and a new one will launch in a qualifying contest for the dazzling fireworks shells just off Ellis Island, near the Nathan’s Famous Fourth of Statue of Liberty.
July hot dog-eating contest in Mango / Greg The pyrotechnics spectacular will kick off at Coney Island. about 9:20 pm and last about half an hour. His strategy? Eating the Papers File The Brooklyn Fire Department boats will start the show at 7:30 pm with soaring arcs of red, white and blue water. meat two dogs at a time, fol- America’s hope of regaining the hot dog title may rest on the tiny shoul- The Air Force will strut military maneuvers over the lowed by buns dipped in his FDR Drive starting at 8 pm with a fly-over, break- drinking water. Not bad for ders of 100-pound Sonya Thomas, Papers The Brooklyn seen here at last year’s contest. Kate Gormley performs "I Love Rock ‘n’ Roll" backed by Bunnie England and the New ing the sound barrier over the drive. only his second hot dog eat-off. Besides the promenade, prime viewing spots in- “I just have to go home Originals at Magnetic Field. Live Bank Karaoke returns this weekend — Monday at 9 pm. clude the Louis Valentino Pier at the end of Coffey and digest this food, and take a dip in my pool and I’ll be all right,” he said Street in Red Hook, Empire-Fulton Ferry and after the competition held outdoors at a New Jersey Turnpike rest area. Brooklyn Bridge parks in DUMBO and Fulton Fer- Welcome to the world of competitive eating — complete with its own rules ry Landing at the end of Old Fulton Street on the and global governing body, the International Federation of Competitive Eating. So you wanna be a East River. Not to mention rooftops, as the fireworks The IFOCE will sanction more than 70 competitions this year — everything will be viewable to anyone with an unobstructed See HOT DOGS on page 5 view of the East River or harbor. RE-GURGITATORS rock‘n’roll star? No viewing will be allowed from the Manhat- By Ed Beeson bounds” above ordinary karaoke, he says, is the tan, Brooklyn or Williamsburg bridges. for The Brooklyn Papers electricity you feel onstage. It pours from the band In Manhattan, the FDR Drive will be closed for behind you and from the crowd before you pump- spectator viewing from 7 pm to 10 pm, from 14th to Want to be a HBK? Then you need LBK ing fists in the air like so many uncapped pistons. 42nd streets. Pedestrian access to the FDR Drive for Clones’ winning week — Live Band Karaoke — which returns to The back-up band, guitarist Bunnie England viewing will be at 23rd, 38th and 42nd streets only. In Brookyn Heights this Monday night. and the New Originals, advertises a repertoire of downtown Manhattan, the FDR Drive will be closed By Vince DiMiceli This holiday weekend, the Clones will Only that can turn you into a Heartbreak Kid. 39 songs, which spans from early Beatles to The for spectator viewing, from the ferry terminal to the Brooklyn Papers Sports Editor take on the New York-Penn League cham- “It’s the closest you can get, if you’re not in a Ramones to Judas Priest. Pearl Street exit ramp. Entrance will be granted from the Pearl Street ramp only. The FDR Drive will be The first full week of the Brooklyn pion Williamsport Crosscutters in a two- band, to being a rock star,” says William Crane, Now stand up and break some hearts, kid! game set at Keyspan Park. Saturday’s co-owner of Magnetic Field, the Brooklyn Live Band Karaoke will rock Magnetic closed to vehicular traffic from Houston Street to Cyclones’ 2004 campaign was a success- game begins at 6 pm. Sunday will feature Heights bar where LBK debuted last month. Field (97 Atlantic Ave. between Henry 63rd Street. ful one, as the team pushed their record an Independence Day matinee, with a rare Magnetic Field is the first venue to bring LBK to Street and Hicks streets in Brooklyn The largest fireworks display in the country in- to 8-6, good for second place in the Mc- noon start. Brooklyn, he says, although people may recog- Heights) this Monday, July 5, at 9 cludes 36,000 shells shot off from the six barges nize it from Arlene’s Grocery on the Lower East pm. Admission is free. Call (718) measuring 300 to 500 feet. Namara Division. Next Sunday will be Brooklyn Papers To get to the promenade by train, take the A, C or You can read all about the Brooks past Day at Keyspan, with Papers columnist Side, where LBK packs the house weekly. 834-0069 or log on to www. What makes the monthly LBK events “leaps and MagneticBrooklyn.com. F to Jay Street/Borough Hall, the 2/3 to Clark Street, week in our expanded Brooklyn Cyclones Ed Shakespeare throwing out the ceremo- or the 4 or R to Court Street/Borough Hall and walk section on page 5. nial first pitch. BEGINSPAGE ON 8 down Montague Street to the promenade.
HAVE A SAFE and HAPPY 4TH from Brooklyn’s REAL newspapers
©The Brooklyn Papers. Established 1978. Phone 718-834-9350. Celia Weintrob, Publisher (ext 104) • Neil Sloane, Editor (ext 119) • Lisa J. Curtis, GO Brooklyn Editor (ext 131) • Vince DiMiceli, Senior Editor (ext 125) • Ed Weintrob, President (ext 105) 2 BWN THE BROOKLYN PAPERS • WWW.BROOKLYNPAPERS.COM July 3, 2004 Woman groped, robbed JewelsBy SATNICK We ❤offer quality service on all jewelry repairs or have Hartley F. Satnick your jewelry redesigned. on Joralemon Street The only Certified Jewelry checked Master Watchmaker and cleaned in the FREE OF CHARGE. POLICE Borough of Brooklyn serving the community By Deborah Kolben for over 44 years The Brooklyn Papers All repairs done on premises. A woman was out walk- 196 Joralemon St. (off Court St) ing her dog on Joralemon
(718) 852-1421 • Fax (718) 852-9697 • Street at 8 am Friday when she suddenly felt a man HOURS: Mon - Fri: 9:30am - 6:30pm; Sat: 11:00am - 5:00pm hugging her from behind. At first she assumed it was her boyfriend, but when she N –––––– INTRODUCING –––––– turned around she discovered it N was a total stranger. SOFTER, BRIGHTER CLOTHES THAT LAST LONGER “Get off me,” the 34-year- N NO TOXIC CHEMICALS ON CLOTHES OR SKIN old woman yelled as she pushed the stranger away. SAFE FOR THE ENVIRONMENT The manhandling marauder started apologizing, but contin- 100% ued asking her questions about where she lived, her dog’s The 1st PERC-FREE name, and so on. DRY CLEANING The woman told police the N in NYC! stranger had molested her. To N make matters worse, she soon N BRIDGESTONE the CLEAN realized that she was missing a CLEANERS CENTER silver Tiffany & Co. bracelet N Custom Framing
175 COURT STREET with a heart pendant. Callan / Tom 109 FRONT STREET N Ready-Made Frames (Washington & Adams) (Bergen & Dean) The incident occurred on June 25 between Henry and 374 7th Avenue N Posters & Prints Clinton streets. (bet. 11th & 12th Sts) FREE PICK-UP & DELIVERY N Friendly Service Garfield mug 718-832-0655
A woman walking along Papers The Brooklyn (718) 222-9958 Garfield Place near Sixth Aven- ue at 4 pm on June 28 was stopped by a pair of thugs who Pin one on me pushed her to the ground and tried to take her cell phone. Seven-month-old Michael Schwartz joins his father, Sgt. John Schwartz, at the 76th Precinct’s The victim, 45, put up a fight Medal Day, June 19, in St. Stephens Church on Summit Street in Carroll Gardens. SERVING ALL FAITHS but one of the attackers was 2 Silhouettes able to wrest free her handbag. The two men fled down Gar- The street toughs grabbed PowerBook computers, as well COMPLETE ONE DAY on the shade field Place towards Seventh Av- the victim’s fanny pack contain- as earrings, pendants, rings and enue. ing $135 and ran down a pearl necklace. Left door open Richards Street into Coffey Strange brew FUNERAL SERVICES Park, police said. • SILHOUETTES A man from Manhattan park- Rap and film star Ice Cube ed his car in Brooklyn Heights No rest stop FROM NTIQUES once promoted the brew, but SERVICES • A Thursday afternoon and left his He stopped outside the new- this week it went to one drink- wallet inside the vehicle, which ly redesigned Brooklyn Muse- er’s head. PROVIDED $ • COLLECTIBLES was parked on Henry Street um to enjoy the warm summer Police arrested a 37-year-old 1,999 PLUS near Cranberry Street — un- RT night. man after they caught him drink- Removal from Place of CEMETERY • A locked. • But the enjoyment didn’t last. ing a 22-ounce bottle of St. Ides Death (Local) When he returned two hours • ETCETERA A pair of street toughs ap- malt liquor inside Prospect Park later, at 4 pm, on June 24, the • Preparation of Remains ––––– proached the man as he sat for a at East Drive and Center Drive ––––– wallet, which he told police just before 8 am on June 22. Dressing, Casketing, held $3,000, a driver’s license few moments of peace and start- • JUREK- The suspect refused to hand and credit cards, was gone. ed asking him for something Cosmetology 482 Court Street (718) 858-9229 Missing around 10 pm on June 21. But over identification and demand- PARK SLOPE ‘Crack’ attack ed to be arrested. Arrangement Police are asking the public’s the man, who did not speak • FUNERAL HOME, INC. (bet. 4th & Luquer) Some guys try Shakespeare- English, told them he didn’t un- But when police tried to & Supervision help in finding Patricia Valen- an sonnets, others recite Yates. derstand. place him in handcuffs, the man Doris V. Amen za, 65 (pictured above), who • Securing All But one boyfriend took an- The victim, 23, of Israel, un- lashed out, striking both the ar- Necessary Permits FUNERAL DIRECTOR/PROPRIETOR other approach this week. was last seen at about 2 pm derstood when the pair pulled resting officer and his partner. “You’re a crack-head,” he on June 24 in a Laundromat out a knife and held it up and Police said the suspect, who • Chapel - One Day 728 4th Avenue told his girlfriend before slug- at 510 Court St. near West motioned toward his bike. works in the medical profes- ($300.00 per day) (cor. 23rd St.) ging her in the face with the Ninth Street. She lives a block sion, also had an open warrant So he stood up and tried to BROOKLYN, NY 11232 lots & lots of tops pay phone receiver she was us- away. Valenza is described as run away with his bike in hand, for his arrest. • Hearse to Cemetery (Local) ing on the corner of Fifth Av- a white female, about 250 but one of the men punched Car break-ins • Casket - Gray Cloth/White (718) 768-4192 enue and Ninth Street at 2 pm pounds, with brown eyes, him in the face, breaking his Interior (upgrades avail.) on June 22. Thieves broke into half a gray hair and glasses. She was glasses. dozen cars throughout Park The boyfriend topped his last seen wearing a pink When the victim got up and ––––– Slope and made off with their * * * * * ALTERNATIVE––––– SERVICES * * * * * sweet nothing by picking up his blouse, white pants and white tried to run towards an ambu- headlights this week. bicycle and hurling it at his sneakers. Anyone with infor- lance parked on Eastern Parkway, DIRECT CREMATION: $695.00 + Crematory main squeeze, causing cuts and One driver parked his car on mation is asked to call the po- the pair followed but soon ran First Street between Fifth and DIRECT BURIAL: $995.00 + CEMETERY bruises to her legs. lice Crimestoppers hotline at off. They got away with nothing. Police arrested the 42-year- Sixth avenues at 11 am on June (800) 577-TIPS. NOT INCLUDED ARE THE FOLLOWING: old Park Slope man. Thirsty burglar 21 but when he returned the A burglar with a taste for next morning the headlights Church/Clergy Honoraria/Pallbearers; Memorial Cards/Limousine/Clothing; Chapel for Morning Services; Gratuities/Death Certificates Court breakdown South American beer was caught were gone. An emotionally disturbed turned to his apartment at 11:30 on videotape breaking into a The thieves also broke the SERVING ALL FAITHS man who, according to police, pm on June 28 and found the Smith Street bar and restaurant driver-side lock and broke into had not taken his medication front door unlocked and a win- near Bergen Street in the early the glove box of the silver Audi. lashed out at passersby on dow opened. Both had been morning hours of June 23. Another man parked his Audi Court Street and then threat- closed when he left the apart- Police said the bandit broke on President Street near Fifth See what everyone is barking about! FINALLY! ened a police officer with a ment at 1:30 pm. the glass front door and then Avenue at 2 am on June 23. shard of glass. The thief left an opened jew- sauntered into the bar around But when he returned just The melee broke out just be- Fashion elry box and pocketed a watch 5:30 am. five hours later, the 30-year-old fore 11 am when the suspect motorist noticed the driver-side Free Delivery for any comes to reportedly valued at $400 and He jimmied open the cash approached a man standing out- lock busted and both headlights $10,000 worth of jewelry register with a knife and pock- RedHook! side 16 Court St. eted $700. Then, on the way missing. purchase over $30 “What are you looking at?” passed down from the victim’s The lights were valued at family, police said. out, the thief stopped to grab a Open he asked before grabbing the Peruvian beer. $3,000, according to the police Exotic Birds Tues – Sun victim’s eyeglasses and hat. Rob ‘snow’ man Remsen burgle report. Cat & Dog Supplies & Cages When police caught up with After working all day, a man Meanwhile, a woman so re- the man, the suspect broke a selling snow cones from a After leaving for just a few turned to her blue Infinity sedan Supplies glass bottle and used a piece to moveable cart was attacked and hours in the afternoon, a man just down the block to discover on the hook returned home on June 24 to keep the officers at bay. The robbed by a band of thugs at the that someone had broken into it. LOVE discover a burglar had hit his boutique cops subdued the 44-year-old corner of Verona and Richards The 51-year-old driver man with pepper spray and Remsen Street apartment. parked the car at First Street streets in Red Hook just after 7 The victim, 48, told police placed him under arrest. pm on June 24. and Fifth Avenue at 12:30 am 281 Van Brunt Street, Brooklyn, NY 11231 that sometime between 2 pm on June 23. She returned to THY PET Jewel heist Posing as customers, the and 6 pm a burglar broke into Custom Gifts OPEN: M-Sat 10-7; Sun 10-4 (between Visitation & Pioneer) A bandit with an eye for teens called out with money in fetch the vehicle at 11:10 am his apartment near Clinton and found two gaping holes [email protected] 718.852.1345 baubles broke into an apartment their hands to lure the ices man Street and stole two Apple on 14th Street near Eighth Av- into their midst. But once he where the headlights once were. Pet Layettes enue and made off with a col- approached, they lashed out, The driver-side window was 164 Union St. lection of family jewels. punching the 51-year-old man LEGAL NOTICES also smashed, police said. (between Henry & Hicks) The 23-year-old resident re- in the face and cutting his lip. And, wouldn’t you know it, SUPREME COURT - COUNTY OF KINGS. another Infinity driver told po- NYCTL 1998-2 TRUST and THE BANK OF NEW (718) 596-2399 • • www.LoveThyPetNY.com YORK as Collateral Agent and Custodian for lice that he, too, returned to his the 1998-2 TRUST. Plaintiff against H&L REAL- car on June 23 and found a few TY, INC., et al Defendant(s). Pursuant to a thing missing — namely a win- RELIGIOUS SERVICES Judgment of Foreclosure and Sale entered herein and dated May 13, 2002, I, the under- dow and some headlights. signed Referee will sell at public auction at the * * * The driver, 35, said he had * * * *EN Courthouse steps facing Adams Street, 360 OP S Adams Street, Brooklyn, NY on the 21st day of parked his car at Eighth Avenue HR Union July, 2004 at 9:00 AM premises Beginning at a and Sixth Street on June 19. 24 Shabbat Shalom! point formed by the intersection of the wester- 7 DAYS* * ly side of New York Avenue and the southerly But when he returned days af- * * * * Temple Presented by * side of St. Mark’s Avenue. Being a plot 120 feet ter, at 7 am, the luxury sedan Park Slope’s Friendliest Reform Congregation by 125 feet 3-1/2 inches. Designated on the tax Congregation map of the Boro of Brooklyn as Section 5 Block had been burglarized. Enjoy our large, shaded garden SHABBAT SERVICES: 1227 Lot 36. Said premises known as 770 ST. Also this week, a woman First & Third Friday monthly B’nai Avraham MARK’S AVENUE, BROOKLYN, NY. E followed by Potluck Dinner 6:30 p.m. Approximate amount of lien $1,584,622.50 said she actually saw a man njoy luxury 4-star accommodations, unlimited activities, Modern Orthodox Synagogue plus interest & costs. Premises will be sold sub- breaking into a car parked at All other Friday evenings 8:15 p.m. of Brooklyn Heights ject to provisions of filed judgment and terms our Kids World program exclusively designed for children Saturday mornings 10:30 a.m. of sale. Index Number 14348/01. HARVEY S. Fiske Place near Carroll Street 117 Remsen St. • 596-4840 JACOBS ESQ., Referee. Fischbein Badillo at 4:30 am on June 23. and teens, and state-of-the-art fitness center, complete with 155 Smith St. 17 Eastern Parkway Wagner Harding, Attorney(s) for Plaintiff. 909 (bet. Wyckoff & Bergen Sts.) at Grand Army Plaza Rabbi Aaron Raskin Third Ave., New York, NY 10022. (* BKLYN The witness said she saw a PAPE - *). massage therapy, yoga and interactive classes. Be sure to BP24-27 man pull up in a black SUV, re- 638-3649 R43 (718) 403-9940 Candle Notice is hereby given that an order entered by move the headlights and then visit our new Sugar Mountain Pizza Grille. the Supreme Court, Kings County, on the 22nd flee down Garfield Place. FREE DELIVERY • PARK SLOPE Lighting day of June, 2004, bearing Index Number (we accept credit cards in person only) N18668/2004, a copy of which may be exam- Dry cleaned out JEWISH CENTER f ined at the office of the clerk, located at 360 2004 Summer Rates! 8th Avenue at 14th St. Adams St. Brooklyn, in room number 188 A woman picking up her dry Rates start at $114 per person Fri. nights 6:30 pm Pinchas grants me the right to assume the name of cleaning was cleaned out by a Danny Tsang Luen Ng. My present address is based on double occupancy. Sat. mornings 10 am sneaky thief around 6:30 pm on Fri., July 9, before 8:10pm 2481 E. 19th St., 2nd Fl. Bklyn, NY 11235; the Tax and Gratuity not included. Adult Ed e Hebrew School date of my birth is 5/2/49; my present name is June 26. Rabbi Carie Carter Danny Tsang Leun Ng. Now thru Sept. 3, 2004. Matot-Masei BP26 See COPS on page 3 Park Slope’s Egalitarian, (Excluding 4th of July & Labor Conservative Synagogue Fri., July 16, before 8:07pm lose weight Day Weekend packages) 768-1453 R31 Minyanim for summer! • Weekdays 7:45am, 9pm • Sundays 8:45am Hotel Pocono Guests TED ROTHSTEIN, DDS PhD Prefer get ready ... get ready ... • Erev Shabbat 7:30pm You are always welcome • Shabbat Shacharit 9:30am Adults and Children to lose up to to take off your cover-up and 15 lbs or more Kabbalat Shabbat Service 7:00 p.m. • Beginners Service 10:15am show off your super new shape! in just 21 days! Saturday Mornings • Youth Service 11:15am just what you need Torah study 9:00 a.m. • Tot Shabbat 11:15am Named Invisalign “Top 500 Docs” Plus one-on-one BP-091 1.800.POCMONT counseling Services 10:30 a.m. • Shabbat Mincha-Maariv get ready ... Specialist in Lingual (behind the teeth) (762-6668) call: When you enroll Brooklyn’s Largest at candle lighting time by May 31, 2004 Reform Congregation www.pocmont.com Eighth Avenue and Garfield Place Mikvah • 852-1551 • • www.drted.com • [email protected] 718-522-0189 PARK SLOPE 189 Montague Street, Brooklyn Heights, NY For appointment call 596-WATER BROOKLYN HEIGHTS SINCE 1976 Conveniently located off Route 80 in the heart of the 768-3814 R43 UFN beautiful Pocono Mountains in Bushkill, PA. July 3, 2004 THE BROOKLYN PAPERS • WWW.BROOKLYNPAPERS.COM BWN 3 “Nearing Retirement? Give Private Townhouses, apts. Yourself a Financial Check-Up” Contributed by: Chanie Schwartz, CFP® in the works for Financial Advisor, Morgan Stanley s you approach retirement, you will quite likely be may want a lower-risk investment strategy than before. SWIMSWIM Aassessing your financial situation to determine if you Whether you intend to use your money over a relatively have saved and invested enough to afford a comfortable short period or spread it out through your retirement is future. Generally, financial professionals advise that to another important factor. maintain your current lifestyle you will need approximate- ly 70% to 80% of your current annual income each year in Important Points to Consider LESSONS retirement, although your own situation may differ based LESSONS Hoyt-Schermerhorn There is no set asset allocation strategy that works for on your personal goals and finances. everyone. Before determining which strategy best fits your personal situation, keep in mind that different people have Taking an in-depth look at your finances and an invento- different financial resources and expectations regarding ry of your retirement funds approximately five to seven how long they will be in retirement. Therefore, individuals years before retiring will give you time to make adjustments have different risk tolerances and investment horizons. And AT to help you meet your goals when retirement time comes remember, no matter what asset allocation strategy you around. choose, there is always some level of risk and no guarantee that you will not experience a loss. Will I Have Enough Retirement Income? AFFORDABLE Generally, retirees turn to these sources of income: Social Also, keep in mind too that you need to look at your Security benefits; earnings (including part-time jobs); per- holdings as a whole. Consider your personal accounts, sonal savings and investments, including IRA account(s) or retirement accounts and any additional sources of retire- PRICES! additional employee savings plans; and company retire- ment income that you may have. By planning the entire ment plans. picture you will be better able to ensure that you have a portfolio that reflects your immediate and long-term goals. According to the Social Security Administration, Social Your financial advisor can help you determine if your Security may only account for about 40% of your income strategies are on the right track toward a secure retirement in retirement. Personal investments and savings, company and help you find ways to maintain your position or work retirement plans and other sources will have to account for toward your goals. the remaining portion of your income-about 60%. If you would like to learn more, please write to us in care After calculating your projected retirement income, you of Brooklyn Papers. also need to examine your current expenses and determine which items will increase or decrease, which will be elimi- Morgan Stanley and its Financial Advisors do not provide tax or legal advice. nated and which will be added after you retire. By review- Investors are urged to consult their personal tax or legal advisor about estab- ing this information early on, you can develop a sense of lishing a retirement plan and the tax consequences of any investments made whether you’ll have the necessary income to cover your under a retirement plan. expenses once you retire. This article is published for general informational purposes and is not an offer or solicitation to sell or buy any securities or commodities. Any partic- Compare your expense calculations with your projected ular investment should be analyzed based on its terms and risks as they relate 30 Third Avenue sources of income and determine whether you will have a to your circumstances and objectives. of Brooklyn (bet. Atlantic & State) surplus or a deficiency. At the same time, determine at Investments and services are offered through Morgan Stanley DW Inc., Y what point in retirement you will need to begin drawing on member SIPC. your retirement plan assets. If, after comparing your For more information call expenses with income, you have a surplus, you are on the –––––––––––––––––––––– 718-875-1190 right track to enjoying a comfortable retirement. However, An artist’s rendering of building proposed for the lot at Hoyt and Schermerhorn streets. if you note a deficiency, you can make decisions now to help ensure that you will have a relatively comfortable To learn more, contact me at retirement later on. (800) 995-4635 ext. 7759 By Deborah Kolben “We have high standards proposals for those parcels, Should I Adjust My Asset Allocation Strategy? or (212) 883-7759 Brooklyn Vein-Laser Center The Brooklyn Papers and we believe this should be the task force was included in Having a good understanding of investing becomes more treated as a world-class site,” the review of the designs. important as you approach retirement. Examine all the After designating a de- investments available through your retirement plan and Exclusively for treatment of varicose said Fischer. “We are con- Residents in the area have determine into which category-stocks, bonds or cash equiv- veloper more than two cerned about a lot of bad, long advocated for housing to alents-each of them falls. Next, assess your level of risk. As years ago, plans are finally people prepare to retire, they generally want less risk in veins of all sizes and spider veins. cheap-looking buildings that be developed on the lots, their investments than in the past. Since your income from 330 Madison Avenue, 8th Fl. moving ahead to convert a have come into Downtown which in their current state employment will have stopped or decreased considerably state-owned parking lot at and your assets may be invested over a shorter period, it NY, NY 10017 Brooklyn and we don’t want create a barrier between may be more difficult to recover from loss. Therefore you Hoyt and Schermerhorn that.” Boerum Hill and Downtown streets in Boerum Hill into Attorneys for the develop- Brooklyn. townhouses and an apart- ers say they are still finalizing Developer Shaya Boymel- ment building. the details of the project but green purchased the site at The development, known as hope to have things underway Smith Street and Atlantic Av- State Renaissance Court, will by the fall. enue and is building a 12-story include 14 two-family town- Frezza, a Brooklyn native, condominium there, across the houses and a 139-unit apart- converted the Claremont Ar- street from the Brooklyn House ment building. mory in Fort Greene into of Detention. That site will also The Empire State Develop- apartments and built the con- include a boutique hotel. ment Corp. named John Frez- dominiums on Columbia and HS Development Partners, a za, owner of Brooklyn-based Union streets in the Columbia joint venture between Hamlin Strategic Development and Heights Waterfront District. Ventures LLC and Time Equi- Construction, and a company While the townhouses will ty, purchased the third site, bounded by Schermehorn, called IBEC as developers of sell for market rates, the apart- Before Hoyt, Smith and State streets the site after a request for pro- ment building will include a After and plans to build about 250 posals in 2002. mix of low-, moderate- and units of housing there. Exclusive Patent pending procedure But because of complica- market-rate tenants. All work done in the office tions relating to building over The State Renaissance 20 YEARS the A, C and G subway lines at Court project will also include No need for major anesthesia experience Hoyt Street plans were stalled 18,000 square feet of retail Immediate return to work “It’s been a very slow space and 10,600-square-feet process,” said John Fischer, a of parking. COPS Boerum Hill resident and In 1998, Golden convened 263 7th Avenue, Suite 5E member of the community the Hoyt-Schermerhorn Com- Continued from page 2 task force created by former munity Task Force to study The victim, 29, put her Coach Offering (718) 499-7755 Borough President Howard and recommend plans for use brand wallet on the counter of the shop at Court and Congress http://www.cureveins.com Golden to ensure community of the Hoyt-Schermerhorn • Massage Therapy • Facial Treatments input in the project. lots. As the state considered streets for a few minutes. In the meantime, a man came in selling • Body Treatments • Pedicure/Manicure books and CDs. She told him she • Hair Removal • Spa Packages wasn’t interested. But when she turned around to pick up her Bring this ad in for 10% off your pricey money holder it was first treatment. nowhere to be found. The wallet, valued at $300, WHO SAID also contained $332 in cash, she told police. Identity theft It was bad financial news for a Clinton Street man this week. WAS FOR The resident received a tele- SUMMER phone call from a credit card company informing him that somebody had tried to open up an account in his name and pur- chase an Apple computer. The victim, 48, also learned somebody had opened a Bloomingdale’s credit card in TAKING IT his name and racked up $7,000 in charges. The charges accumulated be- tween May 15 and June 25. 157 Fifth Avenue (between Lincoln and St. Johns) Park Slope, NY 11217 TEL 718-398-2100 Stolen bass www.dmaiurbanspa.com A musician who parked his car on Water Street, just below the Manhattan Bridge overpass, EASY ? wasn’t singing a happy tune GAY FRIENDLY BROOKLYN MEDICAL PRACTICE this week. The 23-year-old, from New • General Male Health Issues Jersey, returned to fetch his ve- hicle at 8:30 am on June 23 and COMPREHENSIVE HIV CARE INCLUDING: discovered that somebody had • Hormone Replacement • Nutritional and broken the passenger-side lock. The thief made off his wallet • Lipodystrophy Psychological Support and bass guitar sometime dur- • Wasting Syndrome • Case Management ing the night. • Salvage Therapy • Legal Aide Movie scar He was no Cary Grant in “To IMMEDIATE APPOINTMENTS AVAILABLE Catch a Thief.” A crook lurking outside a video rental store on Court Street at Degraw Street swooped in while a lone em- ployee was outside sweeping at 9:45 am, before the store PRIMARY MEDICAL CARE • BOARD CERTIFIED PHYSICIAN opened, on June 27. AGGRESSIVE ADVOCACY FOR OVER 15 YEARS The man pushed the employ- ee back into the store and JOSEPH G. OLIVIERI, M.D., A.A.F.P. pulled out a black handgun. “Give me the money,” he 313-43rd Street – SUNSET PARK, BROOKLYN Monday to Friday said, before punching the 3rd Avenue and 43rd Street 10am to 6pm woman on the left side of the face, then fleeing with $4,039. WORKOUT AND REFRESH IN OVER Bike thief A man parked his bicycle outside a popular Park Slope restaurant, at 9 pm on June 28, but when he returned two hours later the two-wheeler was no- 100,000 SQ.FT. where to be found. The victim, 68, told police OF SPORTS, FITNESS, that in addition to the Cannon- dale bike, the thief made off & with a tire pump and bike rack. DAY SPA FACILITIES The incident occurred at Prospect Park West and 15th SUMMER MEMBERSHIP ONLY $25 PER WEEK Street on June 28. OFFER ENDS JULY 31 Shattered glass A man parked his SUV on Lincoln Place near Seventh Av- enue, but when he returned a few days later all that was left was a pile of broken glass. ,""9 Ê /-ÊÊ{ÎÊ ,Ê-/, /Ê Ç£nÊ ÈÓxäxää /,"/ ÊÊÎÎÎÊ -Ê-/, /ÊÇ£nÊÎÎääääÇÊÊ The victim, 30, told police *,"-* /Ê*,ÊÊ£ÇÊ -/ , Ê*,79Ê Ç£nÊ Çn {Èää he parked the 2001 Nissan Ex- /, ÊÊÊÊÊnäÊ " , Ê-/, /ÊÓ£ÓÊÈÈx{ÎÓÊÊ terra at 11:30 pm on June 24. 1 Ê*" /ÊÊÊÊ 6 ÊÊÊÊ 8Ê- He returned to the car at 5 pm on June 27, but the vehicle as 4()3 30%#)!, -%-"%23()0 0!)$ ). !$6!.#% &2/- $!4% /&