BAM-Forte-031210.jpg
BAM put out a press release on the first of this month announcing the exciting news that it had purchased the ground-floor retail space at the Forte and was planning to turn it into the Hamm Archives Center, named after board member Charles J. Hamm who put up the dough for the acquisition. What wasn’t included in that press release was any mention of what the venerable institution had to pay to snag the 3,800-square-foot space, which is just up the block from BAM’s Harvey Lichtenstein Theater. The transaction just hit public records, though, so now we know: $1,807,200. We asked commercial broker Michael Annunziata what he thought of the price. “At approximately $473 psf, I believe this sale is in line with today’s market, and a fair deal for both sides,” he said. From the press release: “The BAM Hamm Archives Center will house a rich collection of materials documenting BAM’s unique artistic heritage as well as the institution’s early history as a major Brooklyn center for cultural and community events.” As the Brooklyn Eagle reported, an architect has not yet been chosen to design the space. Great news and great use of the space! GMAP


What's Your Take? Leave a Comment

  1. Well, I have to say, I was kind of hoping for a food retailer a little like the Gourmet Garage (in terms of the selection and the size of the space needed)…and it would make sense to have something like that there. I would just hope it wouldn’t have crazy-prices.

    But, yes, I do think BAM taking the space is a great idea. I hope they have a great street presence.

    Although I like the look of the MM Dance buildings images on the ground floor, It would have been nicer had there been a 15 to 18 hour per day commercial business of some sort that would be open to the public. But something open late would probably mean it would have to be food/beverage…
    H’mmm…I guess stores aren’t doing so well these days.