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…
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
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
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).
can somebody tell me where 2 billion dollars number comes from? i get the sense its hyped.
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.
deaddeal, face it.
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.
UGH!!!!!!!!!!!
UGH!!!!!!!!!!!
UGH!!!!!!!!!!!
UGH!!!!!!!!!!!
D-O-N-E-D-E-A-L!!!
FCR built the new (frankly sad) NYTimes building and so now we Times is going to impartial?…
HAHAHAHAHhahahahaha….