Boymelgreen sells two pieces to Ratner
An article today states that developer Lev Boymelgreen sold two commercial properties to Ratner, further increasing Ratner's stronghold on the parcels of land within the Vanderbilt Yards project.
The two properties are at 800 Pacific Street and 546 Vanderbilt Avenue.
Can we step back and realize what kind of potential money is behind this Vanderbilt Yards project? Boymelgreen purchased these lots for $20MM and sold it to Ratner for $44MM. Has anyone actually seen these properties? They're dinky little pieces of shit buildings that, save for this project, would be lucky to get $5MM total!
I don't know about you folks, but from what I've been reading on the blogs, I sense a gradual resignation that this project is going to go through. I'd be surprised if the very small portion of people who actually oppose this project have much fight left in them. The writing is on the wall...
5 Comments:
"Can we step back and realize what kind of potential money is behind this Vanderbilt Yards project? Boymelgreen purchased these lots for $20MM and sold it to Ratner for $44MM. Has anyone actually seen these properties? They're dinky little pieces of shit buildings that, save for this project, would be lucky to get $5MM total!"
which is why its outrageous that Ratner would receive 1 billion in subsidies for his project when he stands to make an unbelievable profit. for comparison, Shaya's rinky dink piece of shit properties went for 44 mil, while the Williamsburg Bank building (at least ten times the sq. footage, probably more) went for 75 mil. insanity.
I don't know about you folks, but from what I've been reading on the blogs, I sense a gradual resignation that this project is going to go through. I'd be surprised if the very small portion of people who actually oppose this project have much fight left in them. The writing is on the wall..."
which blogs are you reading, because you're wrong. there is no resignation. there are numerous very strong lawsuits in the works, AND, a little piece of land (MTA rail yards) to be settled. As for "the small portion of people who oppose this project", first its not a small portion, the borough opposes it, according to the only poll done, if its subsidized (and boy is it) and hundreds of people are putting part time and full time into fighting it. AND the opposition is palpable when you walk the streets of P. Heights, Fort Greene etc. Shaya sells so we give up? give me a break. just last week i sat in a room of black clergy and black community leaders (at least 40) all actively opposed and most actively working in opposition. The writing is on the wall because some asshole millionaire diamond rich of the backs of Africans made a killing? Over? don't count on it.
anonymous, thanks for the enthusiastic comment. this is the blog i'm talking about: http://www.dailyheights.com/archives/2005/03/impending_econo.html#comments
i know it's only one, but hey, it's all i've got to go on. i'm sure you're on that site also.
and hey, if the fight's not over, then more power to the fighters. i've been to the lafayette church for the panel discussion,i've been to ps 8? on underhill to listen to the unity plan. i haven't made up my mind yet and yes, i do have a vested interest, as i will soon be a homeowner in the area.
good. keep yourself informed. form your opinions. thats a lot better then the many who argue dishonestly.
as for the thread you pointed to, it was mostly three people, none of whom are involved in the fight as far as I know, discussing their opinions. i didn't smell resignation, and surely three posters on a board, one anonymous, is not a scientific poll. but you know that.
thanks for being such an avid reader of my blog. ever since i removed the block to anonymous comments, i've been inundated (well, relatively) with comments. yo me gusto!
Shaya's "rinky dink piece of shit properties" happen to be the historic Ward Baking Company building which in fact nearly takes up an entire block. Get your facts right.
The pity here is that property is worth saving and should be reincarnated for almost any usage. It has a classical facade with white porcelin tiles. It was designed in 1912 and was the first automated bakery in the USA. Take a look, it is a spendid structure. We'll be losing another link to historic Brooklyn should it be demolished.
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