Those "First Home Game since 1957" signs that have popped up all over? The Nets pay $25 a pop for businesses to put them in the window (as a local business owner informed me). A lot of money and legwork, but still probably cheaper than a 30-second TV spot.I suspect that street team has made certain streets a priority. I've seen a few of the signs on Smith Street, but Coney Island Avenue--not so much.
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…