Monday, September 17, 2012

Triangle Building sells for $4.1 million; ad-supported free ATMs at Barclays

The Wall Street Journal reports, in Triangle Building Sold, that the very well-situated building at Fifth and Flatbush avenues that housed 96-year-old Triangle Sports, has sold for $4.1 million, or $900 a square foot, to an investment firm.

The Journal reports:
Henry Rosa, one of the partners behind Triangle Sports, said in an earlier interview the firm felt pressure from big-box stores and a weak economy. Also, the area near the arena has seen a dramatic transformation in recent months, including a number of new restaurants and bars. Some neighborhood residents have objected that nightlife establishments are taking the place of neighborhood spots, but [broker] Mr. [Ofer] Cohen, of TerraCRG, insists that won't be the case here. "Part of [the new owners'] vision is to make it a very Brooklyn-type use, to stay true to the Brooklyn authenticity," Mr. Cohen says.
Just enough authenticity, I'd bet, to make sure they earn back their investment.

There was no timetable announced for an opening, but the new retail outlet obviously won't be open when the Barclays Center opens across the street on Sept. 28.

Ad-supported ATMs

ABC reports:
A small start-up called FreeATM Inc. and the Barclays Center stadium of Brooklyn, N.Y. are partnering to bring ATMs with no fees to New York City.
The Barclays Center, home of the Brooklyn Nets and oft-used concert venue, will have seven ATMs on Sept. 28, including one which provides access to the public who are not attending an event.
Instead of paying an ATM fee, typically $2 or $3 when you use a machine outside of your bank’s ATM network, FreeATM machines are supported by advertising.
Telecommunications company MetroPCS and online review site, Yelp, have signed up as an advertiser to support the fee-less ATMs....
The ATM ad plays during the time the screen’s message indicates a transaction is processing, typically 15 seconds or less, Townsend said.
This is FreeATM’s second location to host its machines after introducing its prototype in a music venue and bar called the Knitting Factory in Brooklyn on Nov. 4, 2011.
The company is Brooklyn-based, though their web site seems to be down.

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