Skip to main content

Prokhorov's BSE partners with AEG to acquire Webster Hall in Manhattan

Adding another venue to its lineup--Barclays Center, Nassau Coliseum, (under-renovation) LIU Paramount, Ford Ampthitheater at Coney Island Boardwalk--Mikhail Prokhorov's Brooklyn Sports & Entertainment (BSE) will now control Webster Hall in Manhattan, along with The Bowery Presents, which is AEG Presents' regional partner.

This further positions BSE as a power in the entertainment business. Billboard reported that BSE's Brett Yormark suggested that the 1500-capacity venue would help connect the company to up-and-coming artists:
“While we were having those discussions [about acquiring Webster Hall], AEG finalized the acquisition of Bowery Presents, which used to book Webster Hall,” Yormark says. Up until March 2014, Bowery had an exclusive at the venue, and Yormark said that the new agreement means the Bowery team will once more be charged with programming and marketing Webster Hall.
The press release, 4/3/17

BROOKLYN SPORTS & ENTERTAINMENT PARTNERS WITH THE BOWERY PRESENTS TO ACQUIRE OPERATING RIGHTS TO NEW YORK’S ICONIC WEBSTER HALL

BROOKLYN/LOS ANGELES – Brooklyn Sports & Entertainment (BSE) is partnering with The Bowery Presents, AEG Presents’ regional partner, to acquire the operating rights and assets to Webster Hall, the legendary music and entertainment venue located in Manhattan’s East Village. The parties will assume the long-term lease to the building, which will continue to be owned by current owner, Unity Gallega.

Webster Hall, which has operated as a venue since 1886, includes the Grand Ballroom, The Studio and The Marlin Room live entertainment spaces. The officially designated New York City Landmark has served an integral role in the development of many artists’ careers and was named 2016 Nightclub of the Year at Pollstar Magazine’s annual awards. The magazine currently ranks Webster Hall as the No. 2 club venue worldwide for ticket sales.

“We are excited to build on the iconic history of Webster Hall,” said Brett Yormark, CEO of Brooklyn Sports & Entertainment. “Webster Hall provides us with an extraordinary opportunity to connect with artists early in their careers and expands BSE’s venue footprint into Manhattan. We appreciate all that the Ballinger family has done to make Webster Hall an industry leading venue and we are looking forward to working with them, The Bowery Presents and AEG Presents to make it an even greater destination for live music.”

“Partnering with The Bowery Presents and Brooklyn Sports & Entertainment to program and operate this iconic live facility will continue to enhance Webster Hall’s worldwide reputation as one of the industry’s most important venues,” said Jay Marciano, Chairman and CEO, AEG Presents.

Webster Hall has undergone several waves of transformation throughout the past century. In the 1920’s, Webster Hall notoriously held masquerade balls and was nicknamed the “Devil’s Playhouse.” RCA Records purchased Webster Hall in 1954 and renovated the venue to include a state-of-the-art acoustically treated ballroom. Notable artists who recorded in Webster Hall’s studio during this time included Elvis Presley, Frank Sinatra, Bob Dylan (his recording debut), Harry Belafonte, Tony Bennett, and Julie Andrews.

Beginning in the 1980’s, Webster Hall reemerged as a leading rock venue in the City, hosting artists such as Eric Clapton with Keith Richards, U2 (for the band’s first-ever US show), Tina Turner, The Beastie Boys, The Pretenders, Prince, Sting, Metallica, Aerosmith, KISS, B.B. King and Guns N’ Roses. The Ballinger family began running the venue in 1989.

Comments

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…

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…

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…

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…