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Forest City NY said to experience major layoffs, disproportionate part of national downsizing

Forest City New York (formerly Forest City Ratner) yesterday laid off some 15 staffers, I'm told by a well-informed source, including some with high salaries and significant responsibility. That would represent more than a ten percent cut.

That number is not confirmed--multiple queries to the developer did not draw responses--but the Wall Street Journal yesterday reported cuts nationally by Cleveland-based parent Forest City Realty Trust (FCRT).

Forest City Laying Off 50 Workers as It Refocuses on Property Development Business, the WSJ reported, “Today our company is fundamentally different than when we began our journey,” corporate CEO David LaRue said in a company message, the paper reported. “The pending sale of our retail portfolio is a major step in defining our future as a leading urban placemaker focused on residential, office and mixed-use projects in the best markets.”

However, if most layoffs nationally affect employees working in Forest City’s downsizing entertainment an…

Yormark: Islanders owners have been given "optionality": Barclays + Nassau (plus potential new pipes)

Despite saying (unsurprisingly) earlier this month that Barclays Center managers don't plan to make design changes to the arena--after all, it would be tough to add seats or change sightlines--the arena's top official is hardly ready to give up the New York Islanders hockey team.

In an interview yesterday with WFAN's Boomer Esiason and Craig Carton (who have a food stand at the arena!) Barclays Center CEO Brett Yormark indicated that Barclays is very much in play for the Islanders, despite (overstated) reporting that the arena was dumping the hockey team.

At about 6:58 of the interview, Carton stated he believes the Islanders will go to a new arena at the Belmont racetrack. (A new arena is tough to justify in this market, and would be expensive, so I have my doubts.)

Giving owners "optionality"

"Is there any way," Carton asked Yormark, "that the wealthy men that are your bosses, and that own the building and make these ultimate decisions, including …

Pacific Park Developer's Deceptive Affordable Housing Spin--not the first misleading op-ed

I published comments critiquing Tackling New York’s Housing Affordability Crisis, by Ashley Cotton of Forest City New York, in Gotham Gazette. And the same publication gave me a platform to respond, in Pacific Park Developer's Deceptive Affordable Housing Spin.
An excerpt:
Those of us with long memories recall past deceptive essays by the developer. In May 2008, Bruce Ratner, CEO of Forest City Ratner (since renamed Forest City New York), penned an op-ed for the Daily News, contending, "for the first time, I am offering an updated construction timetable for the project...We anticipate finishing all of Atlantic Yards by 2018."
Well, we know how that turned out. The timetable stretched to 2035, and then was said to be 2025, at least for the affordable housing, though officials at Ratner's parent company now hint at well past 2030.
"We're still building the iconic Miss Brooklyn tower," Ratner wrote, regarding the Frank Gehry-designed flagship building at the…

Developer's op-ed claims 535 Carlton as example of "Tackling New York’s Housing Affordability Crisis"

Updated with my rebuttal, Pacific Park Developer's Deceptive Affordable Housing Spin.
How about that.

Gotham Gazette, "a pioneering nonpartisan New York City-based online watchdog publication" (for which I've written), today publishes Tackling New York’s Housing Affordability Crisis, by Ashley Cotton is Executive Vice President, External Affairs at Forest City New York:
One creative solution has already proven to be successful in Brooklyn: public-private partnerships. Last week, Greenland Forest City Partners was proud to open 535 Carlton, our COOKFOX-designed, 298-unit building in one of the most desirable parts of the city. The best part? It’s 100 percent affordable, and proof positive that our public-private affordable housing model delivers great results. This pioneering partnership ensures that Pacific Park Brooklyn, our 22-acre project in downtown Brooklyn, enhances the area’s diversity, vibrancy, and accessibility.
Working in conjunction with the city and the …

From City & State: Media Critic de Blasio Should Cop to How He Steers Coverage:

From my City & State essay Media Critic de Blasio Should Cop to How He Steers Coverage:
In a recent interview with BuzzFeed's Ben Smith, New York City Mayor Bill de Blasio played media critic, denouncing the tabloid focus on purported fripperies, claiming his vital work gets ignored, and suggesting that corporate media follow a corporate agenda.
Hold on.
Yes, the mayor’s beef is partially legitimate: His Park Slope gym routine and his posture on the Puerto Rican Day Parade are news stories that have drawn disproportionate attention. However, as critics point out, de Blasio didn't seem to mind when political rivals like his predecessor Michael Bloomberg faced similar tabloid censure.
More importantly, de Blasio's no victim...  Consider how de Blasio has steered coverage of "affordable housing," which laypeople often translate as "low-income," but merely means "below-market," with tenants paying about 30 percent of their income towards rent.…

Goodbye Brooklyn! Nets trade Lopez, last holdover from the New Jersey era

Right before the NBA Draft, the Brooklyn Nets made a dramatic trade: longtime center Brook Lopez and the 27th draft pick to the Los Angeles Lakers for talented but young/immature combo guard D'Angelo Russell and overpriced center Timofey Mozgov.

Analysis from NetsDaily:
All that said, this looks like a steal for [Nets GM Sean] Marks. It isn’t easy to eat the contract of Mozgov, but if the Nets figure they won’t contend for another year or two, they can afford to spend Mikhail Prokhorov’s money strategically if it brings them assets. In this case, Lopez is an expiring contract who could have cost them close to a max contract. He’s also 29-years-old with a history of foot injuries. D’Angelo Russell, on the other hand, is 21-years-old with unlimited potential.By contrast, FanSided suggested Lakers brass were winners:
They did it. We’re not sure exactly what they did, but they did something so high-five! Rob Lowe Pelinka and Magic Johnson LITERALLY traded away one of the two worst cont…

For NBA Draft tomorrow, expect a "significant number of vehicles" and a "large volume of buses" at Barclays

Barclays Center is hosting the NBA Draft on Thursday, June 22 at 7 pm. According to the Community Notice below, there will be no access restrictions imposed on residents and businesses, but there will be a significant police presence.

Here's where it gets potentially dicey:

"a significant number of vehicles servicing guests, talent, and event staff on the arena block is to be expected""a large volume of buses directed to Brooklyn Cruise Terminal as an off-site staging location after drop-off. Please note that there may be a noticeable bus presence around the arena on Thursday afternoon."
If the event is at 7 pm, why will there but such a notable bus presence in the afternoon? If people are arriving over an extended period of time, that's actually better than all arriving at once. But if they're all leaving at once on buses, that could be a logjam.

Follow @barclayscenter for updates and contact Sarah Berlenbach of Barclays Center Community Affairs (sberle…

From the latest Construction Update: work on Pacific Street will occupy sidewalk and parking lane

According to the latest Atlantic Yards/Pacific Park Construction Update (bottom), covering the two weeks beginning June 19 and circulated yesterday afternoon at 4:27 pm (late) by Empire State Development after preparation by Greenland Forest City Partners, work on the new DEP Water Service will continue on Pacific Street between Carlton and Sixth avenues. A portion of the parking lane and sidewalk on the north side of Pacific Street will be occupied by this work.

Oddly, this is listed in red in the document, indicating new activity, but the phrasing "will continue" suggests it's ongoing. But it was not listed in the previous Construction Update.

Outside B3, 38 Sixth Avenue, rRemaining sidewalk construction should be completed with the removal of the sidewalk shed/overhead protection.

Work on the railyard

Drilling of foundation piles in the area of B7 will continue, and drilling of foundation piles in the B10 area is expected to be completed.

Saturday and after-hours work

A…

Post: Downtown Brooklyn Partnership has been dumping trash at high school for six years

In Cleaning crew admits they dumped trash at high school, the New York Post reports:
A downtown Brooklyn group that collects cash from businesses to clean streets has dropped tons of garbage at a high school for at least six years — leaving it for city Sanitation to pick up.
The Downtown Brooklyn Partnership admitted the dumping only after being told The Post had photos of trucks dropping mountains of trash bags at George Westinghouse Career and Technical Education HS in the Metrotech area.
The partnership runs three Business Improvement Districts, or BIDS, and collects fees from companies — including Metrotech developer Forest City New York. The partnership then pays the non-profit DOE Fund $1.7 million a year to collect and dispose of trash. The fund runs a “Ready, Willing an Able” program, which gives trash-collection jobs to the homeless and ex-convicts. There's a lot unexplained here. The DBP claimed it had permission from the Department of Sanitation, which said it hadn't …

At AY CDC, questions about oversight of Times Plaza, Site 5 plans; need for state to coordinate agencies; project "has never been feasible"

Also see coverage of the Atlantic Yards CDC meeting regarding project timing, explanations for the giant green fence on Dean Street, a planned pedestrian refuge at Atlantic and Sixth avenues, and building updates/railyard progress/delayed no-parking signs and more.

One question that arose during the most recent Atlantic Yards Community Development Corporation (AY CDC) meeting was exactly how the board would fulfill its mandate: to "improve oversight and monitoring of the project," which includes monitoring developer compliance with public commitments, monitoring quality of life issues, making recommendations on increasing transparency, and "evaluating the quality and effectiveness of monitoring, support, and other services."

Answer: it's still pretty fuzzy, because 1) the parent Empire State Development (ESD) has ceded control on certain issues to other agencies, 2) ESD does not necessarily keep AY CDC members fully in the loop, and 3) only a handful of AY CDC …

Next Quality of Life meeting shifted to July 18

A message from Empire State Development:

The next Quality of Life Meeting will be held on Tuesday, July 18 instead of the previously scheduled June 28 date.

Atlantic Yards / Pacific Park Quality of Life Meeting
Tuesday, July 18, 2017 @ 6:00 PM
Shirley Chisholm State Office Building
55 Hanson Place
1st Floor Conference Room
Brooklyn, NY 11217

Please feel free to send any Project-related questions, concerns, or suggested agenda items to atlanticyards@esd.ny.gov.

NYDN on the Brooklyn Nets' "worst trade ever"

There's a lot of good insider info in Stefan Bondy's Daily News retrospective Worst trade ever: Looking back (and forward) on '13 draft when Nets went ‘all-in’ on deal for Celtics' Kevin Garnett, Paul Pierce.

The Nets gave up four top draft picks, mortgaging their future for an uncertain but high profile present, and the team was a bust. Writes Bondy:
But the story of that trade isn’t quite so black-and-white. Reaching this point of disproportion required so much to go horribly wrong for the Nets, so many miscalculations and in-fighting before and after the agreement with Boston.
This is really the story of an ownership that reneged on its monetary pledge, a point guard who was the absolute wrong choice, a season of dysfunction and a pattern of sacrificing draft picks by the GM. Bondy's sources criticize absentee owner Mikhail Prokhorov and his top underling, Dmitry Razumov. an investment banker who "knew nothing about basketball before joining the Nets,"…

Yes, the Islanders will be playing a (pre-season) game in Nassau, and the arena operator will pay Nassau a penalty

A 6/15/17 press release from the New York Islanders announced that Islanders To Play Preseason Game At NYCB Live's Nassau Coliseum. That's Sunday, 9/17/17 at 1 pm, which is a family friendly time.

The simultaneous press release, Islanders Announce 2017 Preseason Schedule, noted two preseason home games at Barclays Center and one at Webster Bank Arena in Bridgeport, CT.

As Newsday's Jim Baumbach reported, in Islanders return to Nassau Coliseum for preseason opener vs. Flyers:
It will be the Islanders’ only appearance next season at the team’s former home, which means the arena operator will owe Nassau County $1 million for not meeting a clause that called for two preseason and four regular season games, a spokesman for Nassau Executive Edward Mangano said Thursday.
“They are contractually obligated and the penalty will be fully enforced,” Mangano spokesman Brian Nevin said. This is a step up from a previous reports in which Mangano wouldn't say that the penalty would be …