DOCSLIB.ORG

Or Die Tryin'

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Or Die Tryin' CRAINS 20160321-NEWS--0001-NAT-CCI-CN_-- 3/18/2016 7:30 PM Page 1 CRAINS ® MARCH 21-27,2016 | PRICE $3.00 NEW YORK BUSINESS How to make it as an artist in New York OR DIE TRYIN’ PAGE 15 NO SUCH THING AS A FREE (FERRY) RIDE P. 7 PLUS Two real estate execs nearly take the gloves off P. 10 VOL. XXXII, NO. 12 WWW.CRAINSNEWYORK.COM THE LIST 12 5 Largest M.B.A. programs in the city P. 14 NEWSPAPER 71486 01068 0 T:10.25 in Running a business isn’t simple. But choosing a wireless plan is. Introducing the Verizon Plan for Business. T:14 in One plan. Five sizes. Simply pick the right one for your business and switch it up anytime you like. Share your data across up to 25 devices, all with unlimited talk and text. And you can even pay for your devices up front or monthly. Getting on the best network has never been easier. Better matters. Activation/upgrade fee/line: Up to $40. IMPORTANT CONSUMER INFORMATION: Corporate Subscribers Only. Subject to Major Acct Agmt, Calling Plan, & credit approval. Up to $350 early termination fee/line. Offers & coverage, varying by svc, not available everywhere; see vzw.com. Restocking fee may apply. © 2016 Verizon. 1.800.VZW.4BIZ | vzw.com/businesspricing 20160321-NEWS--0003-NAT-CCI-CN_-- 3/18/2016 7:27 PM Page 1 MARCHCRAINS 21-27, 2016 FROM THE NEWSROOM | JEREMY SMERD Trashing the city IN THIS ISSUE 4 AGENDA A DOZEN GUESTS VISITED our newsroom last week to talk 6 IN CASE YOU MISSED IT about an issue central to the life of every New Yorker: 7 TRANSPORTATION Mayor’s affordable- housing plan may garbage. Most of us would prefer not to think about trash, 8 ASKED & ANSWERED never reach its but we can’t avoid it. It’s everywhere—and in my Bed- goals without this 9 HEALTH CARE tax break Stuy neighborhood, that includes the trees. Trash is one 10 REAL ESTATE area where New York reminds me of a city I lived in long 11 ago, Kathmandu. Nepal, though, is one of the poorest WHO OWNS THE BLOCK countries on earth. 12 VIEWPOINTS Our Sanitation Department 14 THE LIST picks up residential garbage, but that’s only a third of There’s next to no FEATURES New York’s waste. Commercial carters haul the rest. Back recycling going on,” 15 COVER STORY in the day, the mob controlled them. That was good news “ for workers. Allen Henry, a member of Teamsters Local claimed a former 24 GOTHAM GIGS 813, told us he made $16.10 an hour when he started commercial waste 25 SNAPS slinging trash in 1985. Then the city busted up the mob’s 26 FOR THE RECORD monopoly, competition ensued and prices for businesses collector, now a 27 PHOTO FINISH dropped. So have wages. Henry’s son joined the union organizer after Teamsters four years ago as a trash collector for a private 30 years on a truck hauler. Starting pay: $11 and change. “The government got the mob out,” Henry said, “but the worker took a beating.” Carting companies compete for business customers across the city. For some, the clients are so spread out that a truck that picks up only cardboard can’t get to them all. So Henry often had to throw cardboard—a valuable commodity—into his regular trash truck. “There’s next to no recycling going on,” Henry said, even though recycling laws have been on the books for more than 20 years. P. 24 The drop in wages, the loss of Teamsters’ market share and the inefficiency of Apolonia Edwards carters has made allies of the union and environmentalists. Their coalition, Transform Don’t Trash NYC, wants the City Council to divide the city into CORRECTIONS RICHARD KALIKOW is not the owner of 101 Park Ave. His first geographic zones where one carter would have the exclusive right to pick up cousin Peter Kalikow owns that property. This information was commercial waste. The coalition says that on any given night, 4,200 trucks from misstated in the March 14 “High risk play.” competing companies leapfrog one another on city streets. They want DEVELOPER DELANCEY STREET ASSOCIATES will pay for the Essex Street Market vendors’ move from the old building to legislation to create a more efficient system and raise wages for workers. their new digs at Essex Crossing, not the city’s Economic Since 2008, the city has increased by 50% the cap on rates that carters can Development Corp. This information was misstated in the March 14 “Cheap rent in 2018, but only if vendors survive charge businesses. If there are savings to be found, they should go toward until then.” keeping prices down while increasing the paltry 25% recycling rate, which is much lower than in cities with zoned systems. Offices produce mainly paper; restaurants produce mainly food waste. That’s half the waste stream right there. That we haven’t figured out how to recycle it is why New York is more like trash- strewn, poverty-stricken Kathmandu than eco-friendly Seattle. ON THE COVER PHOTO: BUCK ENNIS CONFERENCE CALLOUT APRIL 5 CRAIN’S BUSINESS BREAKFAST FORUM DIGITAL DISPATCHES Bill Mulrow (pictured), secretary to Go to CrainsNewYork.com Gov. Andrew Cuomo, will discuss the administration’s legislative READ The state Legislature priorities, from major rejected Gov. Andrew Cuomo’s infrastructure projects to raising proposal that utilities pay > the minimum wage to $15, and $375 million to help defray take questions from reporters. the MTA’s cost of moving NEW YORK wires and pipes at transit ATHLETIC CLUB projects. 8 a.m. to 9:30 a.m. ■ Vireo Health of New York, one of five [email protected] firms licensed to sell and produce marijuana products in the state, called Vol. XXXII, No. 12, March 21, 2016—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double Google’s ad policy “inadvertently evil” for issues the weeks of June 27, July 11, July 25, Aug. 8, Aug. 22 and Dec. 19, by Crain Communications Inc., 685 Third Ave., prohibiting cannabis firms from New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address promoting the drug to patients. changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. For subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one year, $179.95 two years. LISTEN to a discussion about working as (GST No. 13676-0444-RT) an artist in New York, featuring painter AP IMAGE, BUCK ENNIS, GETTYIMAGE ©Entire contents copyright 2016 by Crain Communications Inc. All rights reserved. Mario Naves. Music by Ben Seretan. CrainsNewYork.com/podcast MARCH 21, 2016 | CRAIN’S NEW YORK BUSINESS | 3 20160321-NEWS--0004-NAT-CCI-CN_-- 3/18/2016 7:26 PM Page 1 AGENDAWHAT’S NEW MARCH 21, 2016 Mayor’s signature achievement is beneficial but not a game-changer e were glad to see the tough-talking activists who had been protesting Mayor Bill de Blasio’s housing plan for months do an about-face days before City Council leaders blessed it last week. Everyone agreedW with the crux of the plan, which is to require some affordable apartments in any housing development that benefits from a rezoning. But the opponents wanted so many low-rent units that projects would have been rendered uneconomical, and nothing would have been built. HELP IN HARLEM: An Unable to persuade council leaders, the activists declared themselves affordable-housing project satisfied with a promise from the mayor to study their ideas, which he uptown. The law will set had already decided were impractical. The mayor’s plan will be aside low-rent units in projects helped by approved by the council and signed into law well before that analysis rezoning. happens, rendering it an academic exercise. The plan has always been a balancing act between economic and The city cannot close this gap by mandating affordability. Make the political feasibility. Its signature achievement is the mandate for afford- units’ rent too low and they won’t get built; make them too high and able units, which will help families the 20% of New Yorkers living in who win housing lotteries to rent Make the units’ rent too low and poverty won’t be able to afford them. them. Taller, denser buildings allow The new policy is beneficial, but it’s not for more market-rate apartments to they won’t get built; too high and a game-changer. subsidize those low-rent units. De millions won’t be able to afford them The problem is that despite all the Blasio hailed it as something of a man- calls for alleviating the housing crunch, on-the-moon achievement, but let’s too few New Yorkers want all the con- be realistic: It won’t solve the housing crunch. Not by a long shot. struction required to make a noticeable difference. Amendments to the Under its terms, 10% of a project’s units will be affordable to families mayor’s plan as it went through public review reduced the number of earning 40% of area median income, with an additional 15% of units set units it will generate, making the legislation less historic and more incre- aside for households making 60% of that median. Communities could mental. This is not the mayor’s fault; he did as well as could be expect- also choose an alternative: 20% of units at 40% of the income median.
Load more

Recommended publications
  • Dime Savings Bank, First Floor Interior
    Landmarks Preservation Commission July 19 , 1994; Designation List 259 LP-1908 DIME SAVINGS BANK, FIRST FLOOR INTERIOR consisting of the eastern DeKalb Avenue entrance vestibule and lobby; the banking room , including the rotunda and dome; the mezzanine above said DeKalb Avenue entrance lobby; and the fixtures and interior floor surfaces; windows; doors; chandeliers and lighting fixtures; decorative metalwork; balustrades; clocks; tellers' counters; and attached furnishings and decorative elements; 9 DeKalb Avenue, a/k/a 9-31 DeKalb Avenue and 86 Albee Square (formerly Fleet Street), Brooklyn. Built 1906-08; Mowbray & Uffinger, architects. Enlarged 1931-32; Halsey, McCormack & Helmer, architects. Landmark Site: Borough of Brooklyn Tax Map Block 149, Lot 75 in part, consisting of the property encompassed by a line beginning at the southeast corner of the lot, running 173 '-4 1/2 11 west along DeKalb A venue, then continuing along the outer edge of the southeast side of the portico, then running 46' -103/4 11 northwest along the front of the portico, then continuing along the outer edge of the northwest edge of the portico, then running 202'-2 11 northeast along Albee Square (Fleet Street), then continuing 89'-9 1/2 11 southeast, 25 '-0 11 southwest, 9'-4 11 northwest, 17'-2 11 southwest, 9'-4 11 southeast, 80'-9 5/8 11 southeast, and 68 '-0 3/4 11 south, to the point of beginning, as indicated on the Site Map. On June 15 , 1993, the Landmarks Preservation Commission held a public hearing on the proposed designation as an Interior Landmark of the Dime Savings Bank FIRST FLOOR INTERIOR, consisting of the eastern DeKalb Avenue entrance vestibule and lobby; the banking room , including the rotunda and dome; the mezzanine above said DeKalb A venue entrance lobby; and the fixtures and interior floor surfaces; windows; doors; chandeliers and lighting fixtures; decorative metalwork; balustrades; clocks; tellers' counters; and attached furnishings and decorative elements; and the proposed designation of the related Landmark Site (Item No.
    [Show full text]
  • Monthly Accident Details: January - August 2019
    Monthly Accident Details: January - August 2019 Incident Date Borough Address Number Street Fatalities Injuries EOC Final Description DOB Action ECB Violation Numbers DOB Violation Numbers Permit Permit No Incident Type Owner's Name Contractor Name 1/2/2019 Bronx 4215 PARK AVENUE 0 1 A DOB inspector reported that a worker in the cellar fell ECB Violation 35367408M 010319CE06WG01 Other Construction Related Incidents NOT ON FILE JOY CONSTRUCTION CORP approximately five feet from a ladder. The worker was sent to a hospital. An ECB Violation was issued for the improper use of a ladder. 1/2/2019 Queens 147-40 ARCHER AVENUE 0 1 The Site Safety Manager reported that an electrician was No Dispatch NEW BUILDING 420654508 Other Construction Related Incidents HP JAMSTA HOUSING DEV. FUND CO CNY CONSTRUCTION LLC preparing to pull wires through a pipe when he stepped backwards on the same floor and lost his balance. The electrician cut his left hand while trying to reach for something to grab to prevent himself from falling. The worker went to an urgent care center on his own to receive treatment. 1/3/2019 Brooklyn 1797 BROADWAY 0 1 A DOB inspector reported that a worker was guiding ECB Violation 35374959Y 010318CNEGS01 NB 32156883 Excavation/Soil Work 1797 REALTY ASSOCIATES W Developers Corp piles into place when a pile shifted and the worker suffered an injury to his right leg. The worker was in stable condition and was taken to an area hospital. The extent and severity of the worker's injuries were not known as of the time of inspection.
    [Show full text]
  • Downtown Brooklyn's Residential Growth
    1 A Five-Year DOWNTOWN BROOKLYN’S Review RESIDENTIAL GROWTH 2014–2018 Cover photos: TerraCRG Over the past two decades, Downtown Brooklyn has seen In this report, Downtown Brooklyn Partnership (DBP) provides transformative residential development as new projects give a data-driven snapshot of the Downtown Brooklyn housing rise to a changing Brooklyn skyline and a growing community market. DBP staff conducted interviews with citywide housing of residents. experts and more than a dozen developers and leasing professionals representing more than two-thirds of all newly- In the years following the 2004 adoption of the Downtown delivered rental units. Brooklyn Development Plan and an area-wide rezoning of the Special Downtown Brooklyn District more than 14,000 new Using data from city agencies, leading brokerage firms, housing units were delivered in Downtown Brooklyn, nearly developers, and property owners, this report: two-thirds of which were delivered during the past five years. • Illustrates the supply and makeup of Downtown The district’s growth has accompanied a boom in Brooklyn and Brooklyn’s housing stock in the last five years NYC’s economy, with record employment and population in the • Depicts occupancy and absorption trends from 2014 to borough and city. present • Provides an outlook on the development pipeline KEY FINDINGS Unprecedented growth of a residential neighborhood with mostly rental housing stock: Since the rezoning, more than 70 developments with over 14,000 housing units have been delivered in Downtown Brooklyn. The majority of new housing supply to date (82% of all units, or 11,800+ units) is rental housing. Significant rental and affordable housing growth in the past five years: Nearly two-thirds (64%) of Downtown Brooklyn’s housing supply (9,100+ units) was delivered between 2014 and 2018, including more than 8,500 rental units.
    [Show full text]
  • Analysis of Technical Problems in Modern Super-Slim High-Rise Residential Buildings
    Budownictwo i Architektura 20(1) 2021, 83-116 DOI: 10.35784/bud-arch.2141 Received: 09.07.2020; Revised: 19.11.2020; Accepted: 15.12.2020; Avaliable online: 09.02.2020 © 2020 Budownictwo i Architektura Orginal Article This is an open-access article distributed under the terms of the CC-BY-SA 4.0 Analysis of technical problems in modern super-slim high-rise residential buildings Jerzy Szołomicki1, Hanna Golasz-Szołomicka2 1 Faculty of Civil Engineering; Wrocław University of Science and Technology; 27 Wybrzeże Wyspiańskiego st., 50-370 Wrocław; Poland, [email protected] 0000-0002-1339-4470 2 Faculty of Architecture; Wrocław University of Science and Technology; 27 Wybrzeże Wyspiańskiego St., 50-370 Wrocław; Poland [email protected] 0000-0002-1125-6162 Abstract: The purpose of this paper is to present a new skyscraper typology which has developed over the recent years – super-tall and slender, needle-like residential towers. This trend appeared on the construction market along with the progress of advanced struc- tural solutions and the high demand for luxury apartments with spectacular views. Two types of constructions can be distinguished within this typology: ultra-luxury super-slim towers with the exclusivity of one or two apartments per floor (e.g. located in Manhattan, New York) and other slender high-rise towers, built in Dubai, Abu Dhabi, Hong Kong, Bangkok, and Melbourne, among others, which have multiple apartments on each floor. This paper presents a survey of selected slender high-rise buildings, where structural improvements in tall buildings developed over the recent decade are considered from the architectural and structural view.
    [Show full text]
  • Draft EIS ECF 80 Flatbush Avenue Part 4
    WILLOUGHBY STFLEET PL 2/5/2018 FLEET ST Fort Greene University Park Place FLATBUSH AVE EXTENSION DE KALB AVE HUDSON AVE Albee Square SOUTH PORTLAND AVE ASHLAND PL BOND ST SOUTH ELLIOTT PL HANOVER PL GROVE PL 230 Ashland Place POPS FULTON ST LIVINGSTON ST ST FELIX ST ROCKWELL PL Theatre for a New Audience Fowler Square VE TTE A FAYE Rockwell Place Bears LA SCHERMERHORN ST Community Garden Seating Sixteen Sycamores Area 2 Playground 300 Ashland Place Plaza FT GREENE PL STATE ST NEVINS ST FLATBUSH AVE HANSON PL North Pacific Plgd ATLANTIC AVE 3 AVE Atlantic PACIFIC ST Terminal Mall Plaza Barclay's Center DEAN ST Plaza 4 AVE E V A 5 BERGEN ST WYCKOFF ST Greenstreet Wykoff ST MARK'S PL Gardens Open Space Project Site 0 400 FEET Traffic Analysis Location Traffic Analysis Locations ECF 80 FLATBUSH AVENUE Figure 11-4 Chapter 11: Transportation Table 11-8 Traffic Level 2 Screening Analysis Results—Analysis Locations Incremental Vehicle Trips (Weekday) Intersection AM Midday PM Analysis Locations Fulton Street and DeKalb Avenue 0 0 0 Livingston Street and Bond Street 4 1 4 Schermerhorn Street and Bond Street 35 9 23 Flatbush Avenue and DeKalb Avenue 57 14 57 ✓ Flatbush Avenue and Fulton Street 72 19 92 ✓ Flatbush Avenue and Nevins Street 37 9 52 Livingston Street and Nevins Street 30 6 32 Schermerhorn Street and Nevins Street 61 13 51 ✓ State Street and Nevins Street 51 8 49 ✓ Atlantic Avenue and Nevins Street 32 7 36 Pacific Street and Nevins Street 10 0 7 DeKalb Avenue and Hudson Avenue 6 0 1 Hudson Avenue and Fulton Street 35 13 58 Flatbush
    [Show full text]
  • EXCLUSIVE RETAIL AVAILABILITIES WINICK Letter
    MAGAZINE VOL. 24 SUMMER 2017 EXCLUSIVE RETAIL AVAILABILITIES WINICK letter Dear Friends and Colleagues, It is our pleasure to present Winick Realty Group’s at the market in unique ways, recognizing its nuances Summer 2017 Magazine, featuring some of the best at a granular level. retail availabilities currently on the market in New York, New Jersey and beyond. We invite you to visit our website, www.winick.com and look through our Summer 2017 magazine to see how Our exclusive properties come in all shapes and Winick Realty Group can help your business succeed sizes. From boutique side-street locations to new in 2017 and the years ahead. developments in growing neighborhoods to multi- level flagships on some of the most heavily-trafficked shopping corridors in the world, our Summer 2017 Wishing you continued success and warm regards, magazine has what your brand is looking for. Backed by more than 30 years of market knowledge Steven E. Baker and relationships, our team of exclusive leasing President agents is ready to guide you through the properties in this magazine, as well as any other retail leasing and investment sales opportunities that might help your brand achieve its retail leasing goals. We are experts in our field, utilizing the latest technology and our state-of-the-art locational analytics program to look With 30+ years of operating history, millions of square feet of retail space leased and thousands of transactions completed, Winick Realty Group is a leaderYEARS in retail brokerage in 30New York, New Jersey and beyond. WINICK retail RETAIL IS ALL WE DO.
    [Show full text]
  • 540Fultonstreet-MP-CR-17
    The Retail FLATBUSH AVENUE at The Paxton FULTON STREET FULTON STREET FLATBUSH AVENUE FLATBUSHAVENUE FLATBUSH AVENUE KINGS PLAZA TRIANGLE JUNCTION FLATBUSH AVENUE At the intersection of two of Brooklyn’s most renowned streets Downtown Brooklyn Market Area Surrounded by schools 60,000 College Students amongst eleven higher education institutions in Downtown Brooklyn Located in a business hub 74,000 Employees 3M SF of class-A office space in development $3.9B annual retail & dining sales 3rd largest central business district in NYC 5,600 Businesses 17M SF of existing commercial space 26% Job growth 2,500 Hotel rooms 14,000+ Apartments added since 2004 Avg resident age: 34.2 Bursting with arts & culture 15M+ visitors annually ARTIST’S RENDERING 140+ Events & festivals annually 17 Theaters 100+ Arts & cultural institutions Second Floor 11,536 SF Prime Fulton Street Divisible Retail Opportunity at The Paxton. Brooklyn’s newest residential and office building, consisting of up to 108,998 SF of office space and 327 residential units. • Up to 33,000 SF with 92 FT frontage • Selling lower level Ground Floor • Significant visibility with great • Interior escalator potential 10,794 SF branding potential • Delivery Q3 2021 Divisible Retail Availabilities Floor Square Feet Features Second Floor 11,536 SF 17 FT 6 IN ceilings, 110 FT of retail (Divisible) visibility on Fulton St, dry use only Ground Floor 10,794 SF 18 FT ceilings, 74 FT of retail Lower Level (Divisible) frontage on Fulton St, 10,289 SF signage + branding opportunity, restaurant use, possible
    [Show full text]
  • Brooklyn: the Bridge to the Future TABLE of CONTENTS • MARKETING REPORT • Q1 2016
    Brooklyn Offce North Brooklyn The What MARKETING and Residential Brooklyn Tech Triangle The Why REPORT Development South of Atlantic Ave The Result Q1 2016 Brooklyn: The Bridge to the Future TABLE OF CONTENTS • MARKETING REPORT • Q1 2016 Brooklyn: The Bridge to the Future 1 A boom in living and working in Brooklyn: What’s driving it? - 2 3 North Brooklyn: - Greenpoint | Williamsburg | Bushwick 4 - 5 6 Brooklyn Tech Triangle: - Dumbo | Downtown Brooklyn | Brooklyn Navy Yard 7 - 8 9 South of Atlantic Ave: What’s Next? - Gowanus | Red Hook | Sunset Park 10 - 11 The Result 12 13 Recent Sales | Contact | About GFI Realty Services - 14 140 BROADWAY 41ST FLOOR | NEW YORK, NY 10005 P: (212) 837.4665 | E: [email protected] INTRODUCTION • MARKETING REPORT • Q1 2016 1 A boom in living and working in Brooklyn: What’s driving it? Due to Brooklyn’s exponential year-over-year residential and retail growth, combined with the staggering number of units in the pipeline, it’s nearly impossible to ignore the development currently taking place in Brooklyn. With the explosive growth of the borough’s population, particularly among millennials, and the borough’s emergence as an incubator for TAMI (Technology, Advertising, Media and Innovation) companies, we are seeing waves of developers “crossing the bridge” as they seek new investment opportunities. his trend began in Northern Brooklyn, with Tthe emergence of neighborhoods such as Greenpoint, Williamsburg and Bushwick, Residential 2015 By end of 2016 and has moved south, particularly in water- Growth front neighborhoods, to the Navy Yard, Down- 2,700 5,000 town Brooklyn, DUMBO, Gowanus, Red Hook and Sunset Park.
    [Show full text]
  • Existing Conditions—Project Site and Primary Study Area ECF 80 FLATBUSH AVENUE Figure 8-5 ECF 80 Flatbush Avenue
    2.5.18 333 Schermerhorn Street Lot 24 388 Bridge Street Lot 23 Lot 18 Lot 18 contains a three-story building with frontages on Flatbush Avenue and State Street; Lot 23 contains a two-story building, and 5 Lot 24 contains a five-story brick building with a triangular footprint. The primarily glass-clad building at 333 Schermerhorn Street and the building at 388 Bridge Street can be seen in the background. View from Flatbush Avenue near State Street facing northwest. 300 Ashland Place The project site, including the triangular building on Lot 24, is seen on the left. The 6 recently constructed building at 300 Ashland Place is seen on the right. View north along Flatbush Avenue from State Street. Existing Conditions—Project Site and Primary Study Area ECF 80 FLATBUSH AVENUE Figure 8-5 ECF 80 Flatbush Avenue Lot 24 contains a five-story (approximately 67-foot-tall) building with a triangular footprint with frontages on Flatbush Avenue and State Street (see Figure 8-5). The building is built out to the sidewalk along both streets and rises without setbacks. Along Flatbush Avenue, the ground floor contains a gym with large plate-glass windows and three recesses glass-door entries. Along State Street, the ground-floor entrances have been bricked in except for a raised entry at the west end of the façade, which is accessed by concrete stairs. This building formerly had a rounded bay front at that corner, as well as a cornice, both of which have been removed. VIEW CORRIDORS AND VISUAL RESOURCES The architecturally distinguished buildings at 362 Schermerhorn Street (School Building 2/Building D) and 475 State Street (School Building 1/Building E)—described above and in Chapter 7, “Historic and Cultural Resources”—are visual resources located on the project site (see Figure 8-3).
    [Show full text]
  • 480 Fulton Street Brooklyn, NY
    480 Fulton Street Brooklyn, NY Confidential Offering Memorandum Champs Sports Financial summary 480 Fulton Street Brooklyn, NY Asset Summary Asking Price Cap Rate NOI Increases Term Remaining $16,980,220 5.01% $851,511 3% 12 years Investment Highlights Rent/Month $85,779 - Located on a prime retail corridor in Downtown Brooklyn Fulton Mall featuring hundreds of small and national businesses Gross Building SF 8,965 - Credit BB- tenant, subsidiary of Footlocker with long-term lease Rentable SF 6,740 - Proximity to three subway stations servicing all major subway lines First Floor 2,907 sf including 2 3 4 5 B D N Q R W Second Floor 926 sf - Champs is in the center of Citypoint surrounded by retailers such as Macy’s, Target, Express and Chase Bank Cellar Floor 3,067 sf Tenant Footlocker, Inc. Champs Sports Ownership Type Fee Simple Guarantor Parent Lease Commencement February 14, 2017 Rent Commencement June 14, 2017 Lease Expiration January 31, 2033 Avison Young | Confidential Offering Memorandum 2 Champs Sports Rent schedule 480 Fulton Street Brooklyn, NY Term Increases Annual Rent Monthly 7/1/2017 - 6/30/2018 - $942,000 $78,500 7/1/2018 - 6/30/2019 3.00% $970,260 $80,855 7/1/2019 - 6/30/2020 3.00% $999,368 $83,281 7/1/2020 - 6/30/2021 3.00% $1,029,349 $85,779 7/1/2021 - 6/30/2022 3.00% $1,060,229 $88,352 7/1/2022 - 6/30/2023 3.00% $1,092,036 $91,003 7/1/2023 - 6/30/2024 3.00% $1,124,797 $93,733 7/1/2024 - 6/30/2025 3.00% $1,158,541 $96,545 7/1/2025 - 6/30/2026 3.00% $1,193,297 $99,441 7/1/2026 -6/30/2027 3.00% $1,229,096 $102,425 7/1/2027 - 6/30/2028 3.00% $1,265,969 $105,497 7/1/2028 - 6/30/2029 3.00% $1,303,948 $108,662 7/1/2029 - 6/30/2030 3.00% $1,343,067 $111,922 7/1/2030 - 6/30/2031 3.00% $1,383,359 $115,280 7/1/2031 - 6/30/2032 3.00% $1,424,859 $118,738 7/1/2032 - 1/31/2033 3.00% $1,467,605 $122,300 Avison Young | Confidential Offering Memorandum 3 Champs Sports Tenant overview 480 Fulton Street Brooklyn, NY About Champs Sports Foot Locker, Inc.
    [Show full text]
  • Brooklyn New Development Report
    AUGUST 2015 BROOKLYN NEW DEVELOPMENT REPORT CITYREALTY BROOKLYN NEW DEVELOPMENT REPORT CityRealty is the website for NYC real estate, providing high-quality listings and tailored agent matching for prospective apartment buyers, as well as in-depth analysis of the New York real estate market. BROOKLYN NEW DEVELOPMENT REPORT August 2015 CityRealty is pleased to release its 2015 Brooklyn New Development report. About CityRealty Established in 1994, CityRealty ofers the most comprehensive data, analysis, and content available for the New York City real estate market, covering both sales and rentals. Additionally, CityRealty provides a free, personalized service for New York City apartment buyers and sellers, matching each customer to an agent with the precise expertise needed to fnd his or her perfect home. Further information about CityRealty is available at www.cityrealty.com. 2 August 2015 BROOKLYN NEW DEVELOPMENT REPORT New Development Market Overview Brooklyn’s skyline is being transformed as developers add tens of New Unit Count by Neighborhood thousands of new rental and condominium apartments to the borough. While Brooklyn has historically been known for its single-family houses, there is a crush of buildings with 20 or more units under construction, 24% 29% Other Downtown many of them rising 10 or more stories and dramatically changing the Brooklyn built environment. TOTAL NEW UNITS 6% 2015 2016 2017-2019 Prospect Heights 2,700 5,000 14,000+ 7% Fort Based on announced projects, roughly 22,000 new apartments will be Greene constructed in Brooklyn through 2019, a pace of building that is expected to reach a 10-year high in 2016.
    [Show full text]
  • Dime Savings Bank and the Proposed Designation of the Related Landmark Site (Item No
    Landmarks Preservation Commission July 19, 1994; Designation List 259 LP-1907 Dll\IE SAVINGS BANK, 9 DeKalb Avenue, a/k/a 9-31 DeKalb Avenue and 86 Albee Square (formerly Fleet Street), Brooklyn. Built 1906-08; Mowbray & Uffinger, architects. Enlarged 1931-32; Halsey, McCormack & Helmer, architects. Landmark Site: Borough of Brooklyn Tax Map Block 149, Lot 75 in part, consisting of the property encompassed by a line beginning at the southeast comer of the lot, running 173 '-4 1/2" west along DeKalb Avenue, then continuing along the outer edge of the southeast side of the portico, then running 46'-10 3/4" northwest along the front of the portico, then continuing along the outer edge of the northwest edge of the portico, then running 202'-2" northeast along Albee Square (Fleet Street), then continuing 89'-9 1/2" southeast, 25'-0" southwest, 9'-4" northwest, 17'-2" southwest, 9'-4" southeast, 80'-9 5/8" southeast, and 68'-0 3/4" south, to the point of beginning, as indicated on the Site Map. On June 15, 1993, the Landmarks Preservation Commission held a public hearing on the proposed designation of the Dime Savings Bank and the proposed designation of the related Landmark Site (Item No. 4). The hearing had been duly advertised in accordance with the provisions of law. One witness spoke in favor of designation and no witnesses spoke in opposition to designation. A representative of the owner expressed uncertainty about the proposed designation and requested that the hearing be continued to a later date. The Commission subsequently received one written submission in favor of designation.
    [Show full text]