Atlantic Yards/Pacific Park Report

Sunnyside Yard vs. Atlantic Yards: a Huge Contrast in (Proposed) Scale and Process ( link ) 12,000 units (or even 24,000) over 140 acres vs. 9,000 units over 22 acres? The ingredients for real planning in Queens vs. a massaged, opaque process in Brooklyn?

The Barclays Center yesterday released its March 2026 event calendar for neighbors, with 15 ticketed events. They include eight Nets games, five concerts, and two basketball events, one part of the Unrivaled Basketball League tournament and the other the Caribeño Champs Classic, a "a first-of-its-kind Latino sports and live entertainment experience," with basketballers from Puerto Rico and the Dominican Republic, plus top DJs. The schedule also includes four private events, one in the morning, another in the afternoon, another from morning to afternoon, and another in the evening. On March 3, the arena will host Brooklyn Org's Spark Prize breakfast , which is a relatively small event. I don't know about the other events. They should tell us, so neighbors can assess whether there might be large crowds. March 2025 comparison In March 2025, the arena hosted 18 ticketed events: seven Brooklyn Nets games, six concerts, three comedy shows, one Sprite Jam Fest, and one boxi...

February Roundup: Waiting for a Workshop, and Key Project Details ( link ) What "public resources" (subsidies) are sought? How pay for the platform? A Community Engagement report awaits. Much more to review.

One Junior Partner in Atlantic Yards is Suing Another, for $888M. That's Alarming. ( link ) Affiliates of the U.S. Immigration Fund and Fortress Investment Group are fighting over a separate project. Shouldn't we know more about their stake, and clout, in Atlantic Yards?

Why Has the Atlantic Yards CDC Spent So Little of its Budget? Couldn't the Money Be Used for the Public? ( link ) Also, New York State set to extend contract for law firm Bryan Cave to help with the Second Supplemental EIS.

The Barclays Center, in required reports to bondholders, recently disclosed a modest drop in ticket sales and suite and sponsor installments in the first half of FY 2026, compared with the previous year. Cash receipts for Q1 of FY 2026 were $7.2 million for suite and sponsor installments, and $51.4 million for ticket sales.  That compares to $5.4 million and $40.3 million in the previous fiscal year . Cash receipts for Q2 of FY 2026 were $10.8 million for suite and sponsor installments, and $41 million for ticket sales.  That compares to $10 million and $57.4 million in the previous fiscal year. Overall, that's a net decrease of $2.7 million. That said, it's risky to extrapolate, because the arena has opened new clubs and premium seating options, revenue for which may show up in subsequent quarters. Net operating income down Over the first half of FY 2026, the arena reported $67.8 million in revenue and $55.8 million in expenses, leaving nearly $12 million in net operating inc...

Unrivaled Leans In to NBA Arenas After Making Millions in Philly , Front Office Sports reported Feb. 13, noting that "the 3-on-3 women’s basketball league is moving its March 2 semifinals games from Miami to Brooklyn" and the Barclays Center. The article notes that Unrivaled's stint in Philadelphia--not yet a WNBA city--had more than three months of lead time for event marketing, while now there's just over two weeks. So expect a lot of marketing. Tickets start at $55.10, with fees but before taxes. (The New York Liberty's Breanna Stewart plays for the Mist, while the Liberty's Natasha Cloud plays for the Phantom.) Front Office Sports noted that more than 10,000 seats were sold in 24 hours.  While most games are played at a tiny arena in Florida--Unrivaled relies on TV rights and sponsorships--organizers now aim to have more road games in larger spaces. Unrivaled was set up, in part, as an alternative to WNBA players going abroad for better off-se...

The Brooklyn Nets and associated businesses are "only" worth $6 billion ( link ), according to CNBC's new list of NBA valuations, "only" a 7.1% increase over last year's $5.6 billion . That mean's they're ranked tenth in the league, rather than eighth last year. Still,  they're only a notch behind the  Philadelphia 76ers , worth an estimated $6.1 billion, and the  Miami Heat , valued at $6.05 billion. "The average value of an NBA team is now $5.52 billion, 18% more than a year ago," CNBC's Mike Ozanian writes . He cited  the impact of the new NBA TV deal, the role of private equity, teams being sold over multiple years, and new arena for the Los Angeles Clippers. For the Nets, he cited revenue of $409 million, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $80 million, and 13% debt as a percentage of value. The calculation, as always, is a bit of an art, relying on both revenues, including if the team o...