Atlantic Yards Report’s Norman Oder has an extremely in-depth look at a lawsuit between two companies that Forest City Ratner worked with that sheds light on how the developer has been examining using modular construction at Atlantic Yards. The lawsuit, which was settled in August with confidentiality clauses, was brought by a company called Kullman Buildings Corp. against a firm called XSite Modular. XSite is comprised of several former Kullman employees. The suit alleged that Forest City “was effectively able to circumvent Kullman’s refusal to turn over the ownership rights in this system by the fact that Kullman’s key employees collaborated a plan to work directly with FCRC under the formation of a new rival company.” XSite entered into a contract with Forest City early this year and the developer paid for XSite’s defense. Kullman, which had been working with Forest City for a couple years, had also been up for the contract, which involved helping the developer develop a system for designing and manufacturing heretofore-untested super-tall modular buildings. Here’s a bit of Oder’s analysis on what Forest City may have gained out of the whole deal: “[T]he deal XSite signed represented a significant discount, saving the developer $3 million for each of the first three planned towers, and more after that. Crucially, with that contract Forest City keeps full ownership of emerging intellectual property: the design of the system to produce modular units for buildings of such heights. Kullman had wanted to share ownership of such methodology.” It’s still unclear whether Forest City will use modular construction for the first residential tower at Atlantic Yards or for any of the subsequent skyscrapers planned.
The Secret History of Forest City’s Prefab Plans [AY Report]
Photo by Loozrboy
A real estate firm named JEMB Realty bought a parking lot in downtown Brooklyn for $38,464,188. If that seems like a staggering amount to pay for a parking lot, well, it’s located at 420-428 Albee Square, right across the street from City Point. It’s got 185,000 buildable square feet, The Real Deal reported. That works […]
On a chilly day in late November, 1905, thirty-six year old Benjamin F. Chadsey was taken to the Raymond Street Jail in Brooklyn. He had been brought back to New York from Indiana after being on the run for two years. In 1903, he faked his suicide, and disappeared on the evening before he was […]
After noticing some trendy restaurants and a rise in development sales in Bay Ridge, DNAinfo wonders if it could be the next hip neighborhood with a real estate boom. Bay Ridge had 20 percent of the new development sales in the first quarter of 2014, the most of any neighborhood, according to MNS’ latest report. […]
J.Crew plans to open a store in a warehouse on Wythe Avenue and North 4th Street in Williamsburg, above, according to sources quoted in Crain’s. So Williamsburg may end up being the brand’s first Brooklyn store after all. Last year, it said it planned to open at 151 Court Street in Cobble Hill early this […]
Brooklyn is slated to lose a number of its wood frame houses to development this year. Often these houses are some of the oldest in the borough, although they may not look like much, at least from the outside. Just like so many other aging wood frames in Brooklyn, this little house on Chauncey Street […]