Skip to main content

Could Shaq connect the Nets to the Rock? Well, there's hope but no plan

The Newark Star-Ledger, which has been leading the coverage of the possibility that the New Jersey Nets might play pre-season games at the Prudential Center, now raises the question about whether native son Shaquille O'Neal, who's become a big investor in Newark, might be the man to bring the Nets to the Rock permanently.

The article is a tad premature, given that O'Neal still plays for the Phoenix Suns and can't exactly invest in a basketball team. But O'Neal has talked to New Jersey Devils owner Jeff Vanderbeek, and Steve Politi sets the scene:
Imagine the Nets finally giving up their Brooklyn fantasy and moving to the Rock with one of the all-time greats in uniform. Imagine Shaq, after he decides to retire, staying with the franchise as a part owner, his smiling face on billboards and his hulking frame sitting in courtside seats.

The thought has certainly occurred to O'Neal, who already is heavily involved in real estate ventures in the city and has a strong interest in getting involved in the business side of the sport.

"Yes. Yes. Yes," O'Neal said in a phone interview when asked if he wanted to get into ownership when he retired.

And if that team could be the Nets ...

"It'd be nice -- real nice," he said. "I know the area, I know the people, it's close to New York. Every organization needs two things: a great place to play and a couple of marquee players. You have that, and it's a no brainer."


Increased pessimism about AY

That's not exactly a full-fledged plan, but, on the New Jersey side of the Hudson River, the pessimism about the Brooklyn move has grown. "[F]ew outside the organization believe they're getting to Brooklyn any more," Politi writes.

"The best thing to do is wait and let it take care of itself," Sen. Richard Codey the state senate president, told the newspaper. "With Brooklyn looking like Dorothy from Kansas, they'll have to make a financial decision soon."

Last week, as DDDB reminds us, Codey said, "I think it’s a race to see which project is put in the grave first: the Brooklyn [Barclays] arena or [the Meadowlands' project] Xanadu."

The clock ticks

Forest City Enterprises stock, seesawing for weeks, was down a mere 21.42% yesterday. The Nets' losses continue. Earlier this month, Crain's New York Business Editorial Director Greg David observed, "If those [legal] challenges are not dismissed before March, the project will be in trouble."

He didn't give a rationale, and it's certainly possible that the project could survive even if legal cases linger. However, the clock is ticking.

Comments

  1. If it were up to loud mouth pols like Codey, major sport venues would never be built.

    Why does a political veteran like
    State Senator Richard Codey even
    utter his opinion regarding real estate ventures? It can't be based on his wealth of knowledge and experience in business.

    I bet there are other reasons. What do you think?

    ReplyDelete

Post a Comment

Popular posts from this blog

Barclays Center/Levy Restaurants hit with suit charging discrimination on disability, race; supervisors said to use vicious slurs, pursue retaliation

The Daily News has an article today, Barclays Center hit with $5M suit claiming discrimination against disabled, while the New York Post headlined its article Barclays Center sued over taunting disabled employees.

While that's part of the lawsuit, more prominent are claims of racial discrimination and retaliation, with black employees claiming repeated abuse by white supervisors, preferential treatment toward Hispanic colleagues, and retaliation in response to complaints.

Two individual supervisors, for example, are charged with  referring to black employees as “black motherfucker,” “dumb black bitch,” “black monkey,” “piece of shit” and “nigger.”

Two have referred to an employee blind in one eye as “cyclops,” and “the one-eyed guy,” and an employee with a nose disorder as “the nose guy.”

There's been no official response yet though arena spokesman Barry Baum told the Daily News they, but take “allegations of this kind very seriously” and have "a zero tolerance policy for…

Behind the "empty railyards": 40 years of ATURA, Baruch's plan, and the city's diffidence

To supporters of Forest City Ratner's Atlantic Yards project, it's a long-awaited plan for long-overlooked land. "The Atlantic Yards area has been available for any developer in America for over 100 years,” declared Borough President Marty Markowitz at a 5/26/05 City Council hearing.

Charles Gargano, chairman of the Empire State Development Corporation, mused on 11/15/05 to WNYC's Brian Lehrer, “Isn’t it interesting that these railyards have sat for decades and decades and decades, and no one has done a thing about them.” Forest City Ratner spokesman Joe DePlasco, in a 12/19/04 New York Times article ("In a War of Words, One Has the Power to Wound") described the railyards as "an empty scar dividing the community."

But why exactly has the Metropolitan Transportation Authority’s Vanderbilt Yard never been developed? Do public officials have some responsibility?

At a hearing yesterday of the Brooklyn Borough Board Atlantic Yards Committee, Kate Suisma…

No, security guards can't ban photos. Questions remain about visibility of ID/sticker system.

The bi-monthly Atlantic Yards/Pacific Park Community Update meeting June 14, held at 55 Hanson Place, addressed multiple issues, including delays in the project, a new detente with project neighbors,concerns about traffic congestion, upcoming sewer work and demolitions, and an explanation of how high winds caused debris to fly off the under-construction 38 Sixth Avenue building. I'll have more coverage.
Security issues came up several times at the meeting.
Wayne Bailey, a resident who regularly takes photos and videos (that I often use) of construction/operations issues that impact residents, asked representatives of Tishman Construction if the security guard at the sites they're building works for them.
After Tishman Senior VP Eric Reid said yes, Bailey asked why a guard told him not to shoot video of the site, even though he was on a public street.

"I will address it with principals for that security firm," Reid said.
Forest City Ratner executive Ashley Cotton, the …

Barclays Center event June 11 to protest plans to expand Israeli draft; questions about logistics

At right is a photo of a poster spotted in Hasidic Williamsburg right. Clearly there's an event scheduled at the Barclays Center aimed at the Haredi Jewish community (strict Orthodox Jews who reject secular culture), but the lack of English text makes it cryptic.

The website Matzav.com explains, Protest Against Israeli Draft of Bnei Yeshiva Rescheduled for Barclays Center:
A large asifa to protest the drafting of bnei yeshiva in Eretz Yisroel into the Israeli army that had been set to take place this month will instead be held on Sunday, 17 Sivan/June 11, at the Barclays Center in Downtown Brooklyn, NY. So attendees at a big gathering will protest an apparent change of policy that will make it much more difficult for traditional Orthodox Jewish students--both Hasidic (who follow a rebbe) and non-Hasidic (who don't)--to get deferments from the draft. Comments on the Yeshiva World website explain some of the debate.

The logistical questions

What's unclear is how large the ev…

Atlantic Yards/Pacific Park graphic: what's built/what might be coming (post-dated pinned post)

Click on graphic to enlarge. This is post-dated to stay at the top of the blog. It will be updated as announced configurations change and buildings launch. The August 2014 tentative configurations proposed by developer Greenland Forest City Partners will change, and the project is already well behind that tentative timetable.


Atlanta's Atlantic Yards moves ahead

First mentioned in April, the Atlantic Yards project in Atlanta is moving ahead--and has the potential to nudge Atlantic Yards in Brooklyn further down in Google searches.

According to a 5/30/17 press release, Hines and Invesco Real Estate Announce T3 West Midtown and Atlantic Yards:
Hines, the international real estate firm, and Invesco Real Estate, a global real estate investment manager, today announced a joint venture on behalf of one of Invesco Real Estate’s institutional clients to develop two progressive office projects in Atlanta totalling 700,000 square feet. T3 West Midtown will be a 200,000-square-foot heavy timber office development and Atlantic Yards will consist of 500,000 square feet of progressive office space in two buildings. Both projects are located on sites within Atlantic Station in the flourishing Midtown submarket.
Hines will work with Hartshorne Plunkard Architecture (HPA) as the design architect for both T3 West Midtown and Atlantic Yards. DLR Group will be t…

Not quite the pattern: Greenland selling development sites, not completed condos

Real Estate Weekly, reporting on trends in Chinese investment in New York City, on 11/18/15 quoted Jim Costello, a senior vice president at research firm Real Capital Analytics:
“They’re typically building high-end condos, build it and sell it. Capital return is in a few years. That’s something that is ingrained in the companies that have been coming here because that’s how they’ve grown in the last 35 years. It’s always been a development game for them. So they’re just repeating their business model here,” he said. When I read that last November, I didn't think it necessarily applied to Atlantic Yards/Pacific Park, now 70% owned (outside of the Barclays Center and B2 modular apartment tower), by the Greenland Group, owned significantly by the Shanghai government.
A majority of the buildings will be rentals, some 100% market, some 100% affordable, and several--the last several built--are supposed to be 50% market/50% subsidized. (See tentative timetable below.)

Selling development …