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|A model shown to potential immigrant investors in China in 2014,|
though not shown publicly in Brooklyn.
This watchdog blog, by journalist Norman Oder, offers analysis, commentary, and reportage about the $4.9 billion project to build the Barclays Center arena and 16 high-rise buildings at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park in 2014 after the Chinese government-owned Greenland Group bought a 70% stake in 15 towers. New York State still calls it Atlantic Yards. Contact: AtlanticYardsReport[at]hotmail.com
|A model shown to potential immigrant investors in China in 2014,|
though not shown publicly in Brooklyn.
Essentially, the hockey team no longer administers or controls its own business operation, a highly unusual situation.While Barclays Center (and Brooklyn Nets) CEO Brett Yormark confirmed that, the Islanders wouldn't comment. Nor would anyone confirm the sum, though last year the New York Post reported, using unnamed sources, that the guarantee was $50 million annually.
The agreement to move the franchise includes the provision that the arena pays Islanders ownership an annual sum to play at Barclays Center and, in exchange, Barclays Center acquired all ticket and suite sales, sponsorships, marketing and promotions and their revenue.
“We did make a revenue guarantee – I’m not going to discuss what the number is – but the number, when we hit it, would only put us 20th in the NHL in revenue,” [Yormark] said.Glenn Gerstner, chairman of the Sports Marketing Department of St. John’s University in New York (and a longtime Islanders fan) told Hackel that Islanders owner Charles Wang has essentially outsourced his team’s business department, thus saving overhead.
If so, that number would be around $100 million, using Forbes’ most recent listing of the 30 NHL club revenues. After that number is reached, Barclays Center ceases sharing and keeps the surplus.
Yormark says Islanders tickets at Barclays Center are roughly twice the price of a ticket at Nassau Coliseum, although the premium tickets include free food and other inducements.That's a bit unclear, since the premium tickets are only a fraction of the total. About 25% of ticket sales "come from the established Long Island fan base, a larger percentage than he expected." (Maybe not a larger percentage than Islanders' fans expected?)
Abused By Barclay Already
I was a 25 yr Full Season Tix holder who got sucked into an 8 game package at Barclays. While I am not happy about it, I understand that I am paying $70 a game for the same seats that sell to full season tix holders for $55.HOWEVER, they never told me one of my 8 games would be an exhibition, excuse me, "preseason" game. That is BS!!! You can’t give those tickets away. I see them forcing the full season ticket guys into paying $55 for them but itSUCKS that they are ripping me off for $70. I see the legalese in my contract that says they may use a "preseason" games but I am not an attorney, I’m a Hockey Fan! But not a Barclays Fan! I am trying to get out of my contract, doubt they will let me, and I will never go again!!!!!. Already taking a lesson from Mr Dolan at MSG and abusing their most loyal fans…. I’m PISSED!!
by Dr Gary on Jul 20, 2015 | 12:29 PM
Water dripped from high above the ice on at least one row of the makeshift press area Wednesday, and the 10,000-square-foot space that will include the new locker room for the Islanders, who announced in October 2012 that they would begin playing in Brooklyn in the 2015-16 season, remains at least a month from completion.
Still, General Manager Garth Snow and Steve Rosebrook, the arena’s general manager, were beaming before the team’s rookie scrimmage as they led members of the news media on a tour of the still-under-construction rooms for the player lounges and fitness areas.
...Fans will need to carve out new routines. Saturday games — a Nassau Coliseum staple — will be nearly gone; the team has only four such contests next season, with two of them in early April, in the season’s closing weeks.
Most games will take place on weeknights, although there will be several Sunday afternoon games, including one against Edmonton on Super Bowl Sunday in February.
Then there are the quirks of Barclays Center, which features an off-center scoreboard, several hundred seats with obstructed views and the overall feel of a basketball arena.
...Barry Baum, Barclays Center’s chief communications officer, said 8,000 full-season Islanders ticket plans had been sold. On Thursday, tickets for all games go on sale to the public
By NYC standards, the current definition of a maisonette is a ground-floor or first-floor condominium or co-op apartment that has a street-level and private entry, thus affording celebrities or recluses a dwelling in which there’s easy and anonymous in-and-out accessIn this case, it also has its own patch of green.
|Solish (l.), via Bisnow|
[Greenland USA director of development Scott Solish] also pointed out that Greenland’s Pacific Park project in Brooklyn will include an eight-acre park built above a former rail yard that’ll be open to the public 24/7 and help connect parts of the borough that had been cut off from each other, plus a new public school.I don't know whether that sentence is verbatim Solish, or journalistic shorthand, but there are several errors.
A cement pour continues to take place tonight at 535 Carlton Avenue. There was no notice of the late night work before the work took place -- I stumbled on it trying to identify where the noise was coming from. I documented it at 6:15 PM and again at 7:15 PM. You can see the fellow with the orange vest sending a text in the video below. A community notice from the Pacific Park Community Liaison, but not the State went out at 6:45.
I checked the construction update distributed last week and there is no notice of the late night work. The State has not given notice. That is surprising since Pacific Park's (late) notice warns of late night work all week. Such a meaningful amount of late night work ought to be included in a State construction update.
Here's the vieo:
Just after filming this, a cement truck came to the site via Carlton Avenue. The video camera in my phone stopped working unfortunately, so I was unable to capture it. The truck came down Carlton (not sure from what point, but certainly at least as far south as Bergen, maybe further south), and drove directly into the site. I asked if this had been happening all day. The construction worker manning the entrance said that it was happening because the Carlton/Pacific intersection gate was the only one open. The gate at Pacific and Vanderbilt was closed. I was able to take a still shot of the closed gate on Vanderbilt. It is attached. [Below] HDR should be able to verify this. The truck that came down Carlton did so just after 7. What is the chance someone is logging trucks as they enter the site?
Complaint # for use of illegal truck route (residential street at least from Bergen Street to Pacific Street:
|AY CDC responsibilities|
Late night work (5) nights between Monday, July 27, 2015 and Friday, July 31, 2015Note that, while surely they had plans for this late night work, it was not announced in the most recent two-week Construction Update, issued just a week earlier, on July 20. (The Update did say that Saturday work would begin.)
Temporary Late Night Work at B14 - 535 Carlton Avenue Site [at Carlton Avenue and Dean Street]
Please be advised that during the week of July 27 - July 31, 2015 contractors will be working until 9:00 pm.
Pursuant to their permit, contractors will be doing concrete pours and installing vapor barriers as part of the foundation work. The pours are expected to involve up to 20 concrete trucks, all of which will access the site via the Pacific Street gates. Truck staging will take place within the project site and/or along Pacific Street between Vanderbilt and Carlton Avenues.
New York, NY (July 13, 2015) – Manhattan based property management company CompassRock Real Estate LLC announced today that it has been awarded management of two of the new rental residential developments within Pacific Park Brooklyn (formally known as Atlantic Yards) in Brooklyn, NY. The first of the new developments, 535 Carlton Avenue, is expected to open in the fall 2016, the second; 38 Sixth Avenue is expected to open in early 2017. Both buildings will be 100% affordable and will contain retail and commercial space.
“We are extremely excited to be working alongside such a well-respected partner as Greenland Forest City Partners. The entire CompassRock management team is looking forward to delivering the highest quality service for the owner of the buildings and future residents,” said David Sorise, CompassRock’s Chief Operating Officer.
What We DoAccording to the company's web site, CompassRock does not currently manage any buildings in New York City outside Manhattan.
CompassRock Real Estate provides multifamily property management services for approximately 30,000 units in major markets across the United States. We are primarily contracted by institutional owners, lenders and special servicers and manage all levels of apartment communities.
CRRE and the senior management team have developed a strong client list and relationships with many institutional owners, asset managers and financial institutions.
The NBA inked a $2.66 billion-a-year deal in October with ESPN and TNT, which was triple the previous rate.
The world’s 50 most valuable sports teams are now worth $1.75 billion on average, up 31% from 2014. The minimum valuation to make the cut is $1.15 billion, versus $856 million a year ago, thanks largely to the soaring worth of NBA and MLB teams. The top 50 includes 22 baseball and basketball franchises, compared to only 10 in 2014.So, not so bad a time for minority owner Forest City Enterprises to be selling the 20% share of the team owned by Nets Sports & Entertainment.
PARK SLOPE — A merchants group is hoping a lighted sign over Fifth Avenue will make the street look more inviting to visitors from the Barclays Center.
The Park Slope Fifth Avenue Business Improvement District installed an arched sign with the words "Park Slope's Fifth Avenue" over Fifth Avenue and Dean Street on Wednesday, said the BID's executive director Mark Caserta.