The Times has an article about sales starting for luxury suites at Barclays Center, the planned future home of the Nets in Atlantic Yards. A model suite was unveiled at a showroom in the Times’ Forest City Ratner-developed HQ in Midtown yesterday, and the paper reports that Jay-Z inked a deal for one of the 12 priciest ones, which are each going for a cool $540,000. The 130 suites are being offered as rentals for 5-, 7-, and 10-year terms, and the average rent on them is $300,000. The article’s mention of the likely delays Atlantic Yards is facing is restricted to the following two sentences: “Brett Yormark, president of Nets Sports and Entertainment, said demand was ‘good’ for the suites and that he did not expect sales to be hurt by the wait to build the $950-million arena, the centerpiece of the $4 billion Atlantic Yards development, which is planned by Bruce C. Ratner, the Nets’ principal owner. Construction on the arena is expected to start later this year, assuming that financing being arranged by Goldman Sachs has been completed.” Atlantic Yards Report writes that “the news coverage could’ve used more skepticism,” noting that Goldman financing won’t happen until three lawsuits against the mega-project are settled.
No Nets Arena Yet, but Suites Are on Sale [NY Times]
Suites Go On Sale, Timing Unquestioned, Ticket Prices Rise, Parking Prized [AY Report]
Rendering from barclayscenter.com