Skip to main content

How the arena promoters market (and twist) GQ's designation of Brooklyn as "the Coolest City on the Planet"

Forest City Ratner, which brought to Brooklyn Chuck E. Cheese and Buffalo Wild Wings, is ever ready to ride on the slipstream of cool created by independent entrepreneurs.

Forbes reported yesterday on a press conference announcing college hoops at the Barclays Center:
[Developer Bruce] Ratner noted that someone commented to him recently that Brooklyn was the coolest place on the planet. “Not that you’d know it looking at me,” the 66-year-old real estate developer joked.
Um, that wasn't just a "comment," it was a GQarticle about non-corporate restaurants. But there's no limit to exploiting the Brooklyn brand--or, as I described it last year at the arena groundbreaking, "the endless marketing and unbearable banality of borough iconograpy.".

The "Coolest City"?

GQ Declares 'Brooklyn is the Coolest City on the Planet', the Barclays Center said in a 10/21/11 press release, which left out the rest of the headline, "An Eater's Guide":
GQ has declared that "Brooklyn is the Coolest City on the Planet."

"GQ has realized Brooklyn is the place to be," said Barclays Center CEO Brett Yormark. "We already know that, of course, which is why we can't wait to open the state-of-the-art Barclays Center in September 2012. While GQ raves about the delicious culinary options in the borough, in the next few months we will introduce our BROOKLYN TASTE experience that will draw on Brooklyn's dynamic food scene. We appreciate GQ recognizing the borough and we look forward to bringing the best of sports and entertainment to Brooklyn."
"We appreciate GQ recognizing the borough"? Thanks, Mr. Yormark, New Jersey resident, but shouldn't you leave that to designated Atlantic Yards greeter Marty Markowitz?

Restaurants honored

The GQ article was headlined Brooklyn is the Coolest City on the Planet: An Eater's Guide. What were some of the restaurants included?
  • Mile End,  Boerum Hill
  • Egg, Williamsburg 
  • Henry Public, Cobble Hill
  • Tatiana, Brighton Beach
  • Roberta's,  Bushwick
  • Vinegar Hill House, Vinegar Hill
Nearly all if not all of the restaurants represent projects spurred by individuals or partnerships--small businesses driven by passion and closeness to their customers. That's not quite the same as an arena larded with sponsorships.

Sure, the Barclays Center will try to capitalize on Brooklyn food cred, just as the arena groundbreaking ceremony in March 2010 had a table of Brooklyn desserts.

It's a gesture--and more of a localization effort than many sports facilities, though the Mets' CitiField has begun to set a precedent.

But don't forget that the big money comes from sponsors like Coca-Cola.

The opportunity

Word has gotten around, because Markowitz is using the GQ designation in his new home page video, and so are other Forest City officials.

In a presentation 11/8/11 at a graduation ceremony for the BUILD (Brooklyn United for Innovative Local Development) customer service training program, held at a church in Crown Heights, Forest City Ratner executive Jane Marshall cited GQ, saying, in an energized voice, "Brooklyn is the coolest city on the planet."

The audience, consisting mainly of working-class youths of color, applauded enthusiastically.

Who doesn't want to think their hometown is the coolest?

But I doubt that the audience was thinking that Mile End and Egg and Roberta's were making it so.


Popular posts from this blog

Forest City acknowledges unspecified delays in Pacific Park, cites $300 million "impairment" in project value; what about affordable housing pledge?

Updated Monday Nov. 7 am: Note follow-up coverage of stock price drop and investor conference call and pending questions.

Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.

The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.

While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…

Revising official figures, new report reveals Nets averaged just 11,622 home fans last season, Islanders drew 11,200 (and have option to leave in 2018)

The Brooklyn Nets drew an average of only 11,622 fans per home game in their most recent (and lousy) season, more than 23% below the announced official attendance figure, and little more than 65% of the Barclays Center's capacity.

The New York Islanders also drew some 19.4% below announced attendance, or 11,200 fans per home game.

The surprising numbers were disclosed in a consultant's report attached to the Preliminary Official Statement for the refinancing of some $462 million in tax-exempt bonds for the Barclays Center (plus another $20 million in taxable bonds). The refinancing should lower costs to Mikhail Prokhorov, owner of the arena operating company, by and average of $3.4 million a year through 2044 in paying off arena construction.

According to official figures, the Brooklyn Nets attendance averaged 17,187 in the debut season, 2012-13, 17,251 in 2013-14, 17,037 in 2014-15, and 15,125 in the most recent season, 2015-16. For hoops, the arena holds 17,732.

But official…

At 550 Vanderbilt, big chunk of apartments pitched to Chinese buyers as "international units"

One key to sales at the 550 Vanderbilt condo is the connection to China, thanks to Shanghai-based developer Greenland Holdings.

It's the parent of Greenland USA, which as part of Greenland Forest City Partners owns 70% of Pacific Park (except 461 Dean and the arena).

And sales in China may help explain how the developer was able to claim early momentum.
"Since 550 Vanderbilt launched pre-sales in June [2015], more than 80 residences have gone into contract, representing over 30% of the building’s 278 total residences," the developer said in a 9/25/15 press release announcing the opening of a sales gallery in Brooklyn. "The strong response from the marketplace indicates the high level of demand for well-designed new luxury homes in Brooklyn..."

Maybe. Or maybe it just meant a decent initial pipeline to Chinese buyers.

As lawyer Jay Neveloff, who represents Forest City, told the Real Deal in 2015, a project involving a Chinese firm "creates a huge market for…

Is Barclays Center dumping the Islanders, or are they renegotiating? Evidence varies (bond doc, cash receipts); NHL attendance biggest variable

The Internet has been abuzz since Bloomberg's Scott Soshnick reported 1/30/17, using an overly conclusory headline, that Brooklyn’s Barclays Center Is Dumping the Islanders.

That would end an unusual arrangement in which the arena agrees to pay the team a fixed sum (minus certain expenses), in exchange for keeping tickets, suite, and sponsorship revenue.

The arena would earn more without the hockey team, according to Bloomberg, which cited “a financial projection shared with potential investors showed the Islanders won’t contribute any revenue after the 2018-19 season--a clear signal that the team won’t play there, the people said."

That "signal," however, is hardly definitive, as are the media leaks about a prospective new arena in Queens, as shown in the screenshot below from Newsday. Both sides are surely pushing for advantage, if not bluffing.

Consider: the arena and the Islanders can't even formally begin their opt-out talks until after this season. The disc…

Skanska says it "expected to assemble a properly designed modular building, not engage in an iterative R&D experiment"

On 12/10/16, I noted that FastCo.Design's Prefab's Moment of Reckoning article dialed back the gush on the 461 Dean modular tower compared to the publication's previous coverage.

Still, I noted that the article relied on developer Forest City Ratner and architect SHoP to put the best possible spin on what was clearly a failure. From the article: At the project's outset, it took the factory (managed by Skanska at the time) two to three weeks to build a module. By the end, under FCRC's management, the builders cut that down to six days. "The project took a little longer than expected and cost a little bit more than expected because we started the project with the wrong contractor," [Forest City's Adam] Greene says.Skanska jabs back
Well, Forest City's estranged partner Skanska later weighed in--not sure whether they weren't asked or just missed a deadline--and their article was updated 12/13/16. Here's Skanska's statement, which shows th…

Not just logistics: bypassing Brooklyn for DNC 2016 also saved on optics (role of Russian oligarch, Shanghai government)

Surely the logistical challenges of holding a national presidential nominating convention in Brooklyn were the main (and stated) reasons for the Democratic National Committee's choice of Philadelphia.

And, as I wrote in NY Slant, the huge security cordon in Philadelphia would have been impossible in Brooklyn.

But consider also the optics. As I wrote in my 1/21/15 op-ed in the Times arguing that the choice of Brooklyn was a bad idea:
The arena also raises ethically sticky questions for the Democrats. While the Barclays Center is owned primarily by Forest City Ratner, 45 percent of it is owned by the Russian billionaire Mikhail D. Prokhorov (who also owns 80 percent of the Brooklyn Nets). Mr. Prokhorov has a necessarily cordial relationship with Russia’s president, Vladimir V. Putin — though he has been critical of Mr. Putin in the past, last year, at the Russian president’s request, he tried to transfer ownership of the Nets to one of his Moscow-based companies. An oligarch-owned a…