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December 4, 2006
State Looking For Arts Group for Empire Warehouses
According to Brooklyn Papers, the iconic Empire Warehouses on the Dumbo waterfront may be the future home of a performing arts space. With the construction of Brooklyn Bridge Park set to commence next month despite unresolved issues, the Empire State Development Corporation has made it clear that a cultural institution will be an anchor tenant in a commercial mix that will include numerous shops and restaurants. One possibility: Arts at St. Ann's, which is currently based in a warehouse down the street owned by David Walentas. The BP article also mentions how the ESDC seized the warehouse from Shaya Boymelgreen after he failed to develop it. It seems like there must be more to that story. Why would a cagey developer let a marquee property like this just slip through his hands?
Empire Warehouses Could Be Concert Hall [Brooklyn Papers]
Photo by JR in NYC
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Comments
I think you mean "marquee", not "marquis".
Posted by: Anon at December 4, 2006 10:04 AM
i heard that Shaya Boymelgreen is having money problems with his losses in Florida.
Posted by: Anonymous at December 4, 2006 10:08 AM
it's landmarked so any rehab will be big $$$. probably not Shaya's keg of beer.
Posted by: Anonymous at December 4, 2006 10:22 AM
also perhaps of relevance: boymelgreen's partnership with an israeli financier has ended and they have each gone their own way. what projects boymelgreen is and isn't capable of finishing may have changed.
Posted by: Anonymous at December 4, 2006 10:51 AM
they should turn this into a roller rink and build a high rise above it for roller skating fans. they could put in some affordable housing in crown heights to compensate for any density/scale issues at the DUMBO site. also on site parking would be great.
Posted by: Anonymous at December 4, 2006 2:19 PM
Just so you know. I don't think Shaya is having any financial problems. I think it's strategy restructuring.
http://www.realestatejournal.com/propertyreport/residential/20060616-haughney.html
Posted by: Shahn Andersen at December 4, 2006 3:45 PM
I heard from David Walentas that it will be very hard to make that site profitable - not sure why though...
Posted by: Anonymous at December 4, 2006 8:25 PM
I think the challenge is simply that most people want to preserve the structure exactly as is. At one time, it was proposed that one entire wall be knocked out to create a new glass wall. All hell broke loose...
Developers have to be up for the red tape challenge...
Posted by: Anonymous at December 5, 2006 11:16 PM
there was never a "new glass wall". that was somebody's dumbass rendering, showing a cut-away, so that's wrong.
and the building is a National Landmark; it must be preserved by law. so whether Joe Q Public Forum wants to preserve it or tear it down has little bearing.
Posted by: Anonymous at December 7, 2006 5:10 PM
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