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Showing posts from June, 2024

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Atlantic Yards/Pacific Park infographics: what's built/what's coming/what's missing, who's responsible, + project FAQ/timeline (pinned post)

Union Square Travel Agency, a legal cannabis business (headed by former NYS official overseeing AY), opens in Downtown Brooklyn, near Jay-Z's old stash spot.

Last July, I wrote ( link ) how former Atlantic Yards state overseer Arana Hankin (now Arana Hankin-Biggers), after "growing disillusioned with economic development efforts," had become a cannabis innovator, Co-Founder and President, Union Square Travel Agency, a licensed legal cannabis business, which partners with The Doe Fund, which works with the homeless.  Hankin-Biggers' LinkedIn describes it as "A cannabis retail company that is committed to supporting efforts to reverse the damage created by the war on drugs." Now the Union Square Travel Agency has opened its third recreational dispensary, in Downtown Brooklyn at 118-122 Flatbush Avenue.  Circling back As reported by the website Stupid Dope: The 4,800 square foot dispensary, designed by the acclaimed creative team Leong Leong, promises a visual feast representative of the brand’s fun yet sophisticated approach to cannabis culture. Located just a few doors down from Jay Z’s old stash spot and within wa

BSE Global news: Barclays (with no retail branches) becomes New York Liberty's official banking partner; new VP of Communications named.

Barclays To Become the Official Banking Partner of WNBA’s New York Liberty , BSE Global announced March 27: NEW YORK – Barclays and New York Liberty today announced a new multi-year partnership in which Barclays will become the team’s Official Banking Partner, in a deal that includes marquee jersey patch placement beginning with the 2024 WNBA season. This partnership, one of the largest injections of sponsorship capital in Liberty history, underscores a mutual commitment to advancing gender equity on and off the court. Barclays’ investment in the New York Liberty adds to the existing strong partnership with BSE Global and accompanies the bank’s existing Barclays Center naming rights and Brooklyn Nets team sponsorship. This deal reinforces Barclays’ commitment to women’s sports, a commitment underpinned by the title sponsorships of the Barclays Women’s Super League and Barclays Women’s Championship, the top two leagues of professional women’s soccer in the UK, which remains the largest

At BSE Global, Shorenstein's a well-wired Chief External Affairs Officer. Also, she was appointed by Gov. Hochul to the NYS Gaming Commission. Can't hurt, right?

Either way you look at it, the appointment last September of Marissa Shorenstein as BSE Global's Chief External Affairs Officer suggests that the company, which runs the Brooklyn Nets, Barclays Center, and associated properties, wants to be a player. First, as far as I can tell, the company never previously had a Chief External Affairs Officer to oversee "communications, community and government relations," as stated in her company bio . (Previously, Mandy Gutmann rose to become  Executive VP fro Communications and Community Relations.) Second, Shorenstein comes with an extensive resume , working in both the private sector--WeWork, AT&T, SKDK--and government, including for Andrew Cuomo's and Carl McCall's gubernatorial campaigns, and Press Secretary and Deputy Director of Communications for Gov. David Paterson. From 2004-2007, she served as Senior Manager for Strategic Planning and Corporate Communications for the New York Jets (while going to Fordham Law at

As the Barclays Center now promotes the WNBA's New York Liberty, synergy next door with Glowbar serving as Liberty's "Official Facial Studio"

It's New York Liberty season now, and the WNBA team is selling more tickets than ever So it stands to reason that the Barclays Center operating company, also owned by Liberty owners Joe and Clara Wu Tsai, would use its available canvas--including the wall of the arena's Dean Street entrance and the loading dock doors---to promote the Liberty. Photos by Norman Oder Below is a wider view, which takes in the 461 Dean tower at left and a piece of the 38 Sixth tower at right. Welcome, Glowbar Below, the photo shows that the facial chain Glowbar has opened on the Atlantic Avenue flank of 18 Sixth Ave. tower (B4, aka Brooklyn Crossing). When I first mentioned the chain's arrival, I suggested that perhaps some arenagoers might visit. In fact, Glowbar has announced itself as the "Official Facial Studio of the New York Liberty," as shown in the photo below. What does that mean? Well, according to an interview --part of a "partnership post"--with People Brands and

With new Brooklyn office buildings struggling to fill space (even with "HUGS"), that again suggests Site 5 project would be residential, not office.

Hey, remember when, eight years ago, a representative of joint venture Greenland Forest City Partners, justifying plans to move the bulk of the unbuilt "Miss Brooklyn" tower, once slated to loom over the arena, across Flatbush Avenue to create a giant two-tower project at Site 5, stated , "We think the time is right for the borough to have an iconic office building." Well, as one of the Atlantic Yards mantras goes, "Projects change, markets change." (Thanks, Jim Stuckey.) Given the pandemic and the shift to remote work, office space is less desirable, hence articles like Office Building Losses Start to Pile Up, and More Pain Is Expected Office Building Losses Start to Pile Up, and More Pain Is Expected , from the New York Times. And the market for office space, especially in Brooklyn, seems to be receding.  That means, at least in the near term, that the still-pending project at Site 5, which requires governmental action to unlock the new development righ

Same as it ever was: “That’s how you get [casino] projects done, right? You inflate the job prospects, you inflate the revenue.”

New York Magazine's May 28, 2024 feature  New Jackpot City  is well worth the read. Note the subheading, "Eleven rivals. Countless billions. One prize: the right to build a casino in the heart of New York." Noah Shachtman writes: The Encore [Boston Harbor], which is operated by Wynn [Resorts], is considered a relatively strong performer among recent big-city casino projects, not all of which have proved profitable. A recent report by researchers at the University of Massachusetts Amherst found that the site has generated nearly 10,000 jobs and is netting the state $1 billion a year in new economic activity. But Chicago’s casino experiment has been a disaster, pulling in less than half the revenue promised... In New York, Resorts World is one of three companies operating casinos upstate, and none of them have hit the revenue projections they initially promised. Several have renegotiated with the state to substantially cut their tax rates. One source with deep gaming-indust

For the fourth time, the foreclosure auction of six railyard development sites has been postponed, this time to July.

Yes, the foreclosure auction of developer Greenland USA's rights to six development sites (B5-B10) over the Metropolitan Transportation Authority's Vanderbilt Yard has been postponed, for the fourth time, this time to July.  (I didn't get a date yet, but will update when I know more.) That's according to a spokesman for the developer, which is not in charge of the auction. Rather, a representative of the lenders, controlled by the U.S. Immigration Fund--a "regional center" that recruited immigrant investors under the EB-5 program--initiated the foreclosure, announcing auction dates in January, February, April, and June.  The development rights, which encompass about 3.5 million square feet, served as collateral for the initial $249 million and $100 million loans. I had predicted that the auction would be postponed, because there's a lot of moving parts.  After a partial repayment, Greenland owes about $286 million to the investors, who invested in two tra

Barclays Center crows, per Billboard, it was the world's top-grossing venue in April. (Thank Nicki Minaj and Bad Bunny?) In 2022, it ranked twelfth, in 2023, tenth.

From Barclays Center Twitter/X The Barclays Center had a very good April, they tell us, tweeting yesterday that the arena was the top grossing venue in the world, according to Billboard, a publication that tracks concerts, family shows, and other events--but not pro sports. I'd be curious to see the actual numbers, because it didn't look like that busy a month--unless, maybe, they added May 1 to April, thus appending one of Nicki Minaj's two huge shows. As Billboard reported. in Nicki Minaj’s Pink Friday 2 World Tour Is Already the Highest Grossing Rap Tour for a Woman — and It Isn’t Over Yet , "Two nights at Brooklyn’s Barclays Center on April 4 and May 1 proved the biggest [on her tour], with $4.3 million and 28,100 tickets." The April calendar The April 2024 event calendar , as seen below, also featured three Bad Bunny concerts, which reportedly sold out. I think Billboard also counted the comedy show and WWE, since pro wrestling is as much entertainment as

Will thrice-postponed foreclosure auction proceed June 5? Seems doubtful, but who knows.

After three postponement, most recently ( link ) to June 5, will the foreclosure auction of developer Greenland USA's rights to six development sites over the Vanderbilt Yard finally proceed? Well, my query to a representative of the developer didn't get an answer yet, but the track record--as well as the complexity of finding a qualified developer and resolving aspects of the deal--suggests it's unlikely. Then again, Atlantic Yards/Pacific Park, as I've said, is a "never say never project," which means there are always twists.