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May 16, 2008
Barclays Center Luxury Suites Hit the Market
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
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Comments
At least we didn't waste the $2 billion of taxpayer money on stupid things like improving our schools, expanding public transport, lowering property taxes . . . .
Posted by: Johnny at May 16, 2008 9:37 AM
Johnny, but how would that have helped a few rich white guys and black rappers enjoy eating some grub, having a few wobbly pops and watching overpaid morons throw a ball in a hoop?
Posted by: guest at May 16, 2008 9:48 AM
9:48 I agree - what a waste of taxpayer $....
I assume you are going to support my groups drive to have public funding taken away from BAM, PBS, NYC Ballet, NY Phillharmonic etc.....
We are calling it EEEE - End Entertainment Expenses for Everyone
Posted by: guest at May 16, 2008 10:58 AM
So J-Z bought a box at Barclays and Beyonce bought 2 floors at On Prospect Park...
Hmmm...wonder if they're moving to Brooklyn...
Posted by: guest at May 16, 2008 11:04 AM
great I am so glad this will be 5 blocks from my house. I hope they all eat cheese fries and puke. Another reason my brownstone goes on the market in the next month or so.
Posted by: guest at May 16, 2008 11:06 AM
I live near a giant hole in the ground. It sucks. :(
Could someone please take these whiney posters taxes and build somthing? Oh, wait they are! woohooo! :)
Posted by: guest at May 16, 2008 11:20 AM
10:58, I could never support your cause. Public funding of the BAM, PBS, NYC Ballet, NY Phillharmonic is much more important than decaying schools and underfunded hospitals. What else would old, rich white folks do for entertainment?
Posted by: guest at May 16, 2008 11:26 AM
Hmm this sounds pretty elite, doesn't sound like an affordable housing project. Me thinks these are the true nimbys. Maybe Jay Z is going to invite all the union folks and job seeking people to a game?
Posted by: guest at May 16, 2008 11:27 AM
11:06 am - make sure to let us know when your house goes on the market. we'll tell all the potential buyers know why you're selling, just to be fair, and then we'll scoop your place up for $500K!
Posted by: i disagree at May 16, 2008 11:34 AM
Wonder if they get their money back if Ratner files for bankruptcy...
Posted by: denton at May 16, 2008 11:45 AM
It's all about putting an end to that scourge of society, chafing dishes!
http://www.dddb.net/php/latestnews_Linked.php?id=1450
Posted by: guest at May 16, 2008 12:06 PM
Canceling all arts funding to make up the $2 billion handout to Ratner is certainly . . . novel. Teeny problem is Ratner's $2 billion subsidy is 15-20 times to total arts budget for the city.
Granted, we could certainly close every institution that receives any subsidy at all for the next 20 years. Might be a bit of an economic hit there. But maybe the millions of tourists that used to come to New York every year for the culture could just go to a Nets game instead? There'll be plenty of seats available.
Posted by: Johnny at May 16, 2008 12:25 PM
There'll be plenty of seats available... in Newark.
Posted by: guest at May 16, 2008 12:28 PM
It's really heartwarming that we're donating money from schools and roads to give subsidies to Ratner. It's also so nice for the NY Times to run a free advertisement for their business partners, FCR. They haven't run recent news stories, but they are kind enough to run a fluff piece to drum up sales of the suites.
Posted by: harriet at May 16, 2008 12:35 PM
booooring - this anti-AY moaning is so 2007. you barnacles need to find something more relevant to complain about now that ratner has squashed you. squish.
Posted by: BrooklynLove at May 16, 2008 1:03 PM
Oopps popped back up again sorry love!
Posted by: guest at May 16, 2008 1:34 PM
FCR built the new (frankly sad) NYTimes building and so now we Times is going to impartial?...
HAHAHAHAHhahahahaha....
Posted by: guest at May 16, 2008 1:47 PM
D-O-N-E-D-E-A-L!!!
Posted by: guest at May 16, 2008 1:51 PM
UGH!!!!!!!!!!!
UGH!!!!!!!!!!!
UGH!!!!!!!!!!!
UGH!!!!!!!!!!!
Posted by: guest at May 16, 2008 2:04 PM
I take it Brooklynlove you don't read much. ratner squashing us? I don't suppose you've noticed the redrawn (but still horribly ugly)plans and the questions raised about his ability to finance or build AY? You must be with his publicity office although i would have thought he'd have a better quality representative than someone who can only say "you barnacles need to find something more relevant to complain about now that ratner has squashed you. squish."
Selling luxury suites is a desperate attempt to prove to the taxpayers there are people actually interested. But of course you are the type to fall for it- and if it does get built, I hope you'll be very happy with the absolutely incompetent piece of drek Ratty and Frankie will build. We have so many better and far more important things to do with that money than give it to ratner. It may be a done deal to some of you, but I think your priorities are really screwed up.
Posted by: guest at May 16, 2008 2:08 PM
deaddeal, face it.
Posted by: guest at May 16, 2008 2:09 PM
Yep, Jay-Z's "support" of the Nets is just a different type of paid lobbying. Paid for with our tax dollars because the guy we're giving $2 billion to is already broke.
$2 billion of taxpayer money, $20 million a year in naming rights for the stadium that we're building him and he's broke.
Done deal my a$$hat.
Posted by: Johnny at May 16, 2008 3:05 PM
can somebody tell me where 2 billion dollars number comes from? i get the sense its hyped.
Posted by: guest at May 16, 2008 5:58 PM
Ah, 2:08, your post is so, so typical of the hysterical anti-AY crowd. As usual, you view anyone who disagrees with you as an uninformed, lost soul and level the neverending assusation that anyone who supports AY must be employed by Ratner.
Selling luxury boxes is par for the course when building a new arena. All new stadiums and arenas have luxury boxes and selling them is not desperation, but a common business step. But you would have to leave your bubble to know that.
BrooklynLove is correct. The anti-AY crowd has been squashed. They have lost 19 court cases and haven't a prayer of winning the few that remain. The project is not dead, only delayed, but, again, you would have to leave your bubble to realize that. If anyone is desperate it is the anti-AY crowd, which is trying against all odds to keep its pitiful fight alive by seizing upon anything remotely resembling a victory.
Need I bother mentioning that I don't work for Ratner? Either way, I'm sure you'll level that accusation, as well as imply that I'm too stupid to see the light (i.e. your viewpoint).
Posted by: guest at May 16, 2008 5:58 PM
splat.
http://www.nj.com/business/index.ssf/2008/05/nets_say_showroom_is_proof_of.html
crunch.
http://www.empire.state.ny.us/AtlanticYards/ConstructionUpdate24.asp
Posted by: BrooklynLove at May 18, 2008 8:02 AM
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