Time Equities' Other Big Project on Sunset Park Waterfront
Time Equities’ interest in Sunset Park isn’t limited to “Sunset Marketplace,” the big-box retail center the firm plans to develop between 30th and 32nd streets. About half a mile south, also on the waterfront, the company is fixing to overhaul two old buildings in the Bush Terminal industrial complex, which runs from about 41st Street…
Time Equities’ interest in Sunset Park isn’t limited to “Sunset Marketplace,” the big-box retail center the firm plans to develop between 30th and 32nd streets. About half a mile south, also on the waterfront, the company is fixing to overhaul two old buildings in the Bush Terminal industrial complex, which runs from about 41st Street to 52nd Street. As is the case with Sunset Marketplace, Time Equities still needs to acquire the Bush Terminal buildings from the city via ULURP. The two buildings comprise 40,000 square feet altogether, and Time Equities plans to completely renovate the properties, which are full of tenants, according to Phillip Gesue, the company’s director of development and acquisitions. The city also wants the company to build a coffee shop or bodega in one of the structures, as shown in the rendering above, to serve the people who work there. Do you think TE’s faith in this area is well placed?
Behold ‘Sunset Marketplace,’ Time Equities’ S. Park Plan [Brownstoner]
Rendering from Time Equities.
What, pray tell, does the city have in mind for handling the traffic gridlock that these projects will create? Third Ave is already crowded and Second Ave is just a two-lane street, which also services the only Level 1 trauma hospital in the area. While there’s a BQE exit at 39th Street, there’s no on ramp till you get to 65th Street.
I’m glad someone said that other than me 12:27 but it was the first thing I thought!!!
The guys in the pic look “connected”?
Francis Greenberger has a great nose for good opportunities and this is just the latest. TE will do very well over the long haul.
Getting the powers that be to pony up infrastructure improvements, especially transportation, will be the only challenge.
I think they’ll come good on it.
Bush terminal has huge potential, and the opening of Ikea ( and no doubt it’s incredeble success in this location)will spur more development along the waterfront. Are there still plans to build the Bush terminal Park, anyone know?