Time Equities’ interest in Sunset Park isn’t limited to “Sunset Marketplace,” the big-box retail center the firm plans to develop between 30th and 32nd streets. About half a mile south, also on the waterfront, the company is fixing to overhaul two old buildings in the Bush Terminal industrial complex, which runs from about 41st Street to 52nd Street. As is the case with Sunset Marketplace, Time Equities still needs to acquire the Bush Terminal buildings from the city via ULURP. The two buildings comprise 40,000 square feet altogether, and Time Equities plans to completely renovate the properties, which are full of tenants, according to Phillip Gesue, the company’s director of development and acquisitions. The city also wants the company to build a coffee shop or bodega in one of the structures, as shown in the rendering above, to serve the people who work there. Do you think TE’s faith in this area is well placed?
Behold ‘Sunset Marketplace,’ Time Equities’ S. Park Plan [Brownstoner]
Rendering from Time Equities.