Catsimatidis Talks 202 Myrtle
At the Real Estate Roundtable on Tuesday, Red Apple chief (and Gristedes owner) John Catsimatidis revealed some interesting (if you’re into that kind of thing) details about his development at 202 Myrtle (currently at risk of becoming the most blogged about development in the history of Brownstoner). When times were good, he had been planning…
At the Real Estate Roundtable on Tuesday, Red Apple chief (and Gristedes owner) John Catsimatidis revealed some interesting (if you’re into that kind of thing) details about his development at 202 Myrtle (currently at risk of becoming the most blogged about development in the history of Brownstoner). When times were good, he had been planning to build four buildings on this stretch. Now, however, he’s just putting up one smallish one; he won’t make much money on it, he said, but he’s able to keep the workers employed and prevent the corner from turning into blight. One reason he doesn’t expect to make a lot of profit: He’s had to put up or guarantee about 50 percent of the project’s costs. As for retail, Duane Reade is already committed for the ground floor and he’s planning on putting in a 12,000-square-foot supermarket below grade. The operator has yet to be identified but, “worse comes to worse we’ll put in one of our own stores,” he said. That’ll make it a little harder to argue that Admirals Row needs to be demolished to make way for a supermarket, won’t it?
Updated Renderings of Catsimatidis’ Myrtle Project [Brownstoner]
Development Watch: 202 Myrtle Halfway There [Brownstoner]
Development Watch: 202 Myrtle Rising [Brownstoner] GMAP
Development Watch: 202 Myrtle Marches On [Brownstoner]
Development Watch: 202 Myrtle Avenue P*Shark DOB
Development Watch: 162 Myrtle Avenue [Brownstoner]
Catsimatidis Tweaks Blueprints for Myrtle [Brownstoner]
Catsimatidis Ready to Go on Myrtle? [Brownstoner]
Taking that logic a step further…the Myrtle Market would cover Ingersoll and Whitman and then you could build another 10-12K sf market at the navy yard for farragut; with a market that size, as opposed to a big destination market, surely it would be possible to save most if not all of the admirals row houses…right?
Mr B., I think your anti-Admiral’s Row bias is clouding your remarks. As the interlocutor with Mr. Catsimatidis, I heard him say clearly that there were 2 types of supermarkets, the 10-12K supermarket for residents within a 4-5 block walking radius and 20-25K+ supermarkets that were more of a destination. Putting on my hat as a Board member of the Brooklyn Navy Yard, I felt reassured listening to him that there wouldn’t be redundancies between these 2 sites.
Um, have you been to the Pathmark at the Atlantic center?
The Presidio would be a worthy model for the Brooklyn Navy Yard.
I think it’s criminal that residents at that end of Myrtle Ave. have no current access to a decent large supermarket. I appreciate his efforts in this regard, but I hope shoppers with strollers, shopping carts and wheelchairs will be able to easily access the store.
i am doubtful that a 12k sq. ft. underground supermarket will be adequate to meet the needs of the surrounding community, but as long as there is quality food at affordable prices, i will be content. the nearby public housing residents have a real trek to get to a decent supermarket
Maybe Avalon can have a giant Whole Foods, like on Bowery.
Just to keep the smaller supermarkets honest. I wish the city committed to redevelop the Navy Yards as a mix of open park space, art and not-for-profit organizations, like San Francisco did with Presidio.
12k sq ft is a supermarket in NYC.
below grade supermarket? sounds like a rats nest.
12,000 square feet is not a supermarket. Should he at least get points for trying to restore some of the retail he demolished? I’m undecided at first glance.