The New Coney Island - Brooklyn's Times Square by the Sea

Monday, March 31, 2014

Greenland Holding Expansion starts at $6 Billion including 14 Atlantic Yards Buildings

Businessweek excerpts -

It took just one 15-minute phone call in July to persuade Ifei Chang to join Shanghai-based developer Greenland Holding Group Co. and lead a U.S. expansion. Within three months, she was running $6 billion of projects as part of a record push by Chinese investors into American property. 

Greenland reached a preliminary agreement in October to buy a 70 percent stake in the $5 billion Atlantic Yards development in Brooklyn, New York. That followed a July deal to acquire a $1 billion residential-and-entertainment project in downtown Los Angeles. Chang, who took charge of that site upon arriving in the U.S., is now on the hunt for more investments. 

Greenland agreed to buy most of Brooklyn’s Atlantic Yards from the site’s original developer, Forest City Ratner Cos., after a couple of phone calls, a dinner and a visit by the seller’s executive team to Greenland’s Shanghai headquarters.
“Three weeks later, we had an agreement,” Chang said. The memorandum of understanding signed in October became a definitive contract in December. 

Regulatory approval for Atlantic Yards LLC, the joint venture for the project, is expected by mid-year, Chang said. The 22-acre (8.9-hectare) development was initially approved in 2006 and delayed in part by the recession. Greenland’s investment will include 14 apartment buildings in Brooklyn, where rents are surging. 

“The process and the people have been intense,” MaryAnne Gilmartin, president and CEO of Forest City Ratner, said in an e-mail. “Ifei has proven to be a force of nature -- determined, insightful and highly capable.”

http://www.businessweek.com/news/2014-03-31/chinese-brooklyn-to-los-angeles-plans-accelerating-real-estate#p2

Sunday, March 30, 2014

Video - BP Adams again mentions New Years Eve Ball Drop in Coney


At the Thunderbolt Groundbreaking on March 10th.

7 minute mark -

https://www.youtube.com/watch?v=RCF1tnJiR5U

Times Square by the Sea!


Rent rise in Brooklyn far outpacing Manhattan

NJ.com excerpt -

In Brooklyn and other boroughs, demand for rental housing is particularly robust, especially near subway and train stations, and that demand is reflected in rising rents.

The median monthly rent in February was $2,890 a month in Brooklyn, up from $2,300 in February 2011, over the past three years, a 25.7 percent increase, Miller said. The Manhattan median last month was $3,100 a month, up 7.1 percent from $2,895 in February 2011.

- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.axXg3wCE.dpuf
In Brooklyn and other boroughs, demand for rental housing is particularly robust, especially near subway and train stations, and that demand is reflected in rising rents.
The median monthly rent in February was $2,890 a month in Brooklyn, up from $2,300 in February 2011, over the past three years, a 25.7 percent increase, Miller said. The Manhattan median last month was $3,100 a month, up 7.1 percent from $2,895 in February 2011.
- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.axXg3wCE.dpuf

Entering a Brooklyn Real Estate Renaissance

We are embarking on a Brooklyn Renaissance that is putting development in Brooklyn right on top of the list with Manhattan. It will be anchored downtown around Barclays Center/Atlantic Yards and Metrotech. It will be anchored in South Brooklyn by Coney Island's New Amphitheater, MCU Park, Luna Park and the New Aquarium.

Manhattan has Madison Square Garden and Times Square. Brooklyn finally has realistic competition in Barclays Center and Coney Island.

NJ Banks taking to Manhattan and Brooklyn

NJ.com excerpt -

* Faster economic recovery behind lending momentum
It was several decades ago when Manhattan-based banks began opening offices in the New Jersey suburbs. The Garden State's banks didn't start branching out in New York City until 2001, when Wayne-based Valley National Bank bought Merchants Bank of New York in Manhattan's diamond district, and Cherry Hill-based Commerce Bank, now TD Bank, opened its first Manhattan branch.
Now, in the wake of the 2007 real estate bust and recession that followed, the eastward insurgencies by New Jersey lenders have gained momentum, driven by an economic recovery in New York that has outpaced New Jersey's. New York City regained all jobs lost in the recession, while New Jersey has recouped only about half. The losses continued in February, with 4,900 fewer private-sector jobs counted.
One consequence of the Garden State's slow recovery is that bankers on this side of the Hudson River are focused more than ever on real estate lending in Gotham, primarily by financing small- and mid-sized multifamily housing projects in Manhattan and Brooklyn, in neighborhoods such as Soho, Noho and Sheepshead Bay.
"We have made a very concerted effort in New York," said Christopher Coiley, head of Valley National's New York commercial real estate division, which set up shop three years ago above a branch at Broadway and 21st Street in Manhattan.
Big gains for Valley
It seems to have paid off as the resurgent New York real estate market is responsible for a growing portion of the bank's loan growth. Commercial real estate and construction loans to builders and investors in New York City and on Long Island accounted for 45 percent of Valley's $5.5 billion commercial real estate portfolio as of the end of last year, up from 30 percent at the end of 2011, when the bank's total commercial real estate book totaled $4.2 billion.
About $700 million of Valley's new commercial real estate loans were made in New York in 2013, which matched the amount made in New Jersey, where Valley's branch presence is nearly four times as large. For the past year or so, Gerald Lipkin, Valley National's chairman and chief executive officer, has been spending time every week in a new office at 1 Penn Plaza, fostering relationships with New York customers.
Although Washington Township's Oritani Bank has no retail bank branches in the city, it has had a commercial loan office in Manhattan for a number of years, and that office has been busier than ever, according to Kevin Lynch, Oritani's chairman and CEO, who grew up in the Bronx and in Teaneck. "In Bergen, Passaic, Hudson and Essex counties, there is just not enough loan demand for us," he said.
Oritani Bank loans backed by properties in New York now represent one-third of Oritani's more than $2.4 billion in loans, up from less than a quarter in just three years, Lynch said.
Investors Bank in Short Hills is another lender that has made a big push into New York City, especially in Brooklyn, where it has a dozen branches, all added in the past few years.
- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.dpuf
* Faster economic recovery behind lending momentum
It was several decades ago when Manhattan-based banks began opening offices in the New Jersey suburbs. The Garden State's banks didn't start branching out in New York City until 2001, when Wayne-based Valley National Bank bought Merchants Bank of New York in Manhattan's diamond district, and Cherry Hill-based Commerce Bank, now TD Bank, opened its first Manhattan branch.
Now, in the wake of the 2007 real estate bust and recession that followed, the eastward insurgencies by New Jersey lenders have gained momentum, driven by an economic recovery in New York that has outpaced New Jersey's. New York City regained all jobs lost in the recession, while New Jersey has recouped only about half. The losses continued in February, with 4,900 fewer private-sector jobs counted.
One consequence of the Garden State's slow recovery is that bankers on this side of the Hudson River are focused more than ever on real estate lending in Gotham, primarily by financing small- and mid-sized multifamily housing projects in Manhattan and Brooklyn, in neighborhoods such as Soho, Noho and Sheepshead Bay.
"We have made a very concerted effort in New York," said Christopher Coiley, head of Valley National's New York commercial real estate division, which set up shop three years ago above a branch at Broadway and 21st Street in Manhattan.
Big gains for Valley
It seems to have paid off as the resurgent New York real estate market is responsible for a growing portion of the bank's loan growth. Commercial real estate and construction loans to builders and investors in New York City and on Long Island accounted for 45 percent of Valley's $5.5 billion commercial real estate portfolio as of the end of last year, up from 30 percent at the end of 2011, when the bank's total commercial real estate book totaled $4.2 billion.
About $700 million of Valley's new commercial real estate loans were made in New York in 2013, which matched the amount made in New Jersey, where Valley's branch presence is nearly four times as large. For the past year or so, Gerald Lipkin, Valley National's chairman and chief executive officer, has been spending time every week in a new office at 1 Penn Plaza, fostering relationships with New York customers.
Although Washington Township's Oritani Bank has no retail bank branches in the city, it has had a commercial loan office in Manhattan for a number of years, and that office has been busier than ever, according to Kevin Lynch, Oritani's chairman and CEO, who grew up in the Bronx and in Teaneck. "In Bergen, Passaic, Hudson and Essex counties, there is just not enough loan demand for us," he said.
Oritani Bank loans backed by properties in New York now represent one-third of Oritani's more than $2.4 billion in loans, up from less than a quarter in just three years, Lynch said.
Investors Bank in Short Hills is another lender that has made a big push into New York City, especially in Brooklyn, where it has a dozen branches, all added in the past few years.
- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.dpuf
* Faster economic recovery behind lending momentum
It was several decades ago when Manhattan-based banks began opening offices in the New Jersey suburbs. The Garden State's banks didn't start branching out in New York City until 2001, when Wayne-based Valley National Bank bought Merchants Bank of New York in Manhattan's diamond district, and Cherry Hill-based Commerce Bank, now TD Bank, opened its first Manhattan branch.
Now, in the wake of the 2007 real estate bust and recession that followed, the eastward insurgencies by New Jersey lenders have gained momentum, driven by an economic recovery in New York that has outpaced New Jersey's. New York City regained all jobs lost in the recession, while New Jersey has recouped only about half. The losses continued in February, with 4,900 fewer private-sector jobs counted.
One consequence of the Garden State's slow recovery is that bankers on this side of the Hudson River are focused more than ever on real estate lending in Gotham, primarily by financing small- and mid-sized multifamily housing projects in Manhattan and Brooklyn, in neighborhoods such as Soho, Noho and Sheepshead Bay.
"We have made a very concerted effort in New York," said Christopher Coiley, head of Valley National's New York commercial real estate division, which set up shop three years ago above a branch at Broadway and 21st Street in Manhattan.
Big gains for Valley
It seems to have paid off as the resurgent New York real estate market is responsible for a growing portion of the bank's loan growth. Commercial real estate and construction loans to builders and investors in New York City and on Long Island accounted for 45 percent of Valley's $5.5 billion commercial real estate portfolio as of the end of last year, up from 30 percent at the end of 2011, when the bank's total commercial real estate book totaled $4.2 billion.
About $700 million of Valley's new commercial real estate loans were made in New York in 2013, which matched the amount made in New Jersey, where Valley's branch presence is nearly four times as large. For the past year or so, Gerald Lipkin, Valley National's chairman and chief executive officer, has been spending time every week in a new office at 1 Penn Plaza, fostering relationships with New York customers.
Although Washington Township's Oritani Bank has no retail bank branches in the city, it has had a commercial loan office in Manhattan for a number of years, and that office has been busier than ever, according to Kevin Lynch, Oritani's chairman and CEO, who grew up in the Bronx and in Teaneck. "In Bergen, Passaic, Hudson and Essex counties, there is just not enough loan demand for us," he said.
Oritani Bank loans backed by properties in New York now represent one-third of Oritani's more than $2.4 billion in loans, up from less than a quarter in just three years, Lynch said.
Investors Bank in Short Hills is another lender that has made a big push into New York City, especially in Brooklyn, where it has a dozen branches, all added in the past few years.
- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.dpuf
* Faster economic recovery behind lending momentum
It was several decades ago when Manhattan-based banks began opening offices in the New Jersey suburbs. The Garden State's banks didn't start branching out in New York City until 2001, when Wayne-based Valley National Bank bought Merchants Bank of New York in Manhattan's diamond district, and Cherry Hill-based Commerce Bank, now TD Bank, opened its first Manhattan branch.
Now, in the wake of the 2007 real estate bust and recession that followed, the eastward insurgencies by New Jersey lenders have gained momentum, driven by an economic recovery in New York that has outpaced New Jersey's. New York City regained all jobs lost in the recession, while New Jersey has recouped only about half. The losses continued in February, with 4,900 fewer private-sector jobs counted.
One consequence of the Garden State's slow recovery is that bankers on this side of the Hudson River are focused more than ever on real estate lending in Gotham, primarily by financing small- and mid-sized multifamily housing projects in Manhattan and Brooklyn, in neighborhoods such as Soho, Noho and Sheepshead Bay.
"We have made a very concerted effort in New York," said Christopher Coiley, head of Valley National's New York commercial real estate division, which set up shop three years ago above a branch at Broadway and 21st Street in Manhattan.
Big gains for Valley
It seems to have paid off as the resurgent New York real estate market is responsible for a growing portion of the bank's loan growth. Commercial real estate and construction loans to builders and investors in New York City and on Long Island accounted for 45 percent of Valley's $5.5 billion commercial real estate portfolio as of the end of last year, up from 30 percent at the end of 2011, when the bank's total commercial real estate book totaled $4.2 billion.
About $700 million of Valley's new commercial real estate loans were made in New York in 2013, which matched the amount made in New Jersey, where Valley's branch presence is nearly four times as large. For the past year or so, Gerald Lipkin, Valley National's chairman and chief executive officer, has been spending time every week in a new office at 1 Penn Plaza, fostering relationships with New York customers.
Although Washington Township's Oritani Bank has no retail bank branches in the city, it has had a commercial loan office in Manhattan for a number of years, and that office has been busier than ever, according to Kevin Lynch, Oritani's chairman and CEO, who grew up in the Bronx and in Teaneck. "In Bergen, Passaic, Hudson and Essex counties, there is just not enough loan demand for us," he said.
Oritani Bank loans backed by properties in New York now represent one-third of Oritani's more than $2.4 billion in loans, up from less than a quarter in just three years, Lynch said.
Investors Bank in Short Hills is another lender that has made a big push into New York City, especially in Brooklyn, where it has a dozen branches, all added in the past few years.
- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.dpuf
* Faster economic recovery behind lending momentum
It was several decades ago when Manhattan-based banks began opening offices in the New Jersey suburbs. The Garden State's banks didn't start branching out in New York City until 2001, when Wayne-based Valley National Bank bought Merchants Bank of New York in Manhattan's diamond district, and Cherry Hill-based Commerce Bank, now TD Bank, opened its first Manhattan branch.
Now, in the wake of the 2007 real estate bust and recession that followed, the eastward insurgencies by New Jersey lenders have gained momentum, driven by an economic recovery in New York that has outpaced New Jersey's. New York City regained all jobs lost in the recession, while New Jersey has recouped only about half. The losses continued in February, with 4,900 fewer private-sector jobs counted.
One consequence of the Garden State's slow recovery is that bankers on this side of the Hudson River are focused more than ever on real estate lending in Gotham, primarily by financing small- and mid-sized multifamily housing projects in Manhattan and Brooklyn, in neighborhoods such as Soho, Noho and Sheepshead Bay.
"We have made a very concerted effort in New York," said Christopher Coiley, head of Valley National's New York commercial real estate division, which set up shop three years ago above a branch at Broadway and 21st Street in Manhattan.
Big gains for Valley
It seems to have paid off as the resurgent New York real estate market is responsible for a growing portion of the bank's loan growth. Commercial real estate and construction loans to builders and investors in New York City and on Long Island accounted for 45 percent of Valley's $5.5 billion commercial real estate portfolio as of the end of last year, up from 30 percent at the end of 2011, when the bank's total commercial real estate book totaled $4.2 billion.
About $700 million of Valley's new commercial real estate loans were made in New York in 2013, which matched the amount made in New Jersey, where Valley's branch presence is nearly four times as large. For the past year or so, Gerald Lipkin, Valley National's chairman and chief executive officer, has been spending time every week in a new office at 1 Penn Plaza, fostering relationships with New York customers.
Although Washington Township's Oritani Bank has no retail bank branches in the city, it has had a commercial loan office in Manhattan for a number of years, and that office has been busier than ever, according to Kevin Lynch, Oritani's chairman and CEO, who grew up in the Bronx and in Teaneck. "In Bergen, Passaic, Hudson and Essex counties, there is just not enough loan demand for us," he said.
Oritani Bank loans backed by properties in New York now represent one-third of Oritani's more than $2.4 billion in loans, up from less than a quarter in just three years, Lynch said.
Investors Bank in Short Hills is another lender that has made a big push into New York City, especially in Brooklyn, where it has a dozen branches, all added in the past few years.
- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.dpuf
* Faster economic recovery behind lending momentum
It was several decades ago when Manhattan-based banks began opening offices in the New Jersey suburbs. The Garden State's banks didn't start branching out in New York City until 2001, when Wayne-based Valley National Bank bought Merchants Bank of New York in Manhattan's diamond district, and Cherry Hill-based Commerce Bank, now TD Bank, opened its first Manhattan branch.
Now, in the wake of the 2007 real estate bust and recession that followed, the eastward insurgencies by New Jersey lenders have gained momentum, driven by an economic recovery in New York that has outpaced New Jersey's. New York City regained all jobs lost in the recession, while New Jersey has recouped only about half. The losses continued in February, with 4,900 fewer private-sector jobs counted.
One consequence of the Garden State's slow recovery is that bankers on this side of the Hudson River are focused more than ever on real estate lending in Gotham, primarily by financing small- and mid-sized multifamily housing projects in Manhattan and Brooklyn, in neighborhoods such as Soho, Noho and Sheepshead Bay.
"We have made a very concerted effort in New York," said Christopher Coiley, head of Valley National's New York commercial real estate division, which set up shop three years ago above a branch at Broadway and 21st Street in Manhattan.
Big gains for Valley
It seems to have paid off as the resurgent New York real estate market is responsible for a growing portion of the bank's loan growth. Commercial real estate and construction loans to builders and investors in New York City and on Long Island accounted for 45 percent of Valley's $5.5 billion commercial real estate portfolio as of the end of last year, up from 30 percent at the end of 2011, when the bank's total commercial real estate book totaled $4.2 billion.
About $700 million of Valley's new commercial real estate loans were made in New York in 2013, which matched the amount made in New Jersey, where Valley's branch presence is nearly four times as large. For the past year or so, Gerald Lipkin, Valley National's chairman and chief executive officer, has been spending time every week in a new office at 1 Penn Plaza, fostering relationships with New York customers.
Although Washington Township's Oritani Bank has no retail bank branches in the city, it has had a commercial loan office in Manhattan for a number of years, and that office has been busier than ever, according to Kevin Lynch, Oritani's chairman and CEO, who grew up in the Bronx and in Teaneck. "In Bergen, Passaic, Hudson and Essex counties, there is just not enough loan demand for us," he said.
Oritani Bank loans backed by properties in New York now represent one-third of Oritani's more than $2.4 billion in loans, up from less than a quarter in just three years, Lynch said.
Investors Bank in Short Hills is another lender that has made a big push into New York City, especially in Brooklyn, where it has a dozen branches, all added in the past few years.
- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.dpuf
* Faster economic recovery behind lending momentum

It was several decades ago when Manhattan-based banks began opening offices in the New Jersey suburbs. The Garden State's banks didn't start branching out in New York City until 2001, when Wayne-based Valley National Bank bought Merchants Bank of New York in Manhattan's diamond district, and Cherry Hill-based Commerce Bank, now TD Bank, opened its first Manhattan branch.

Now, in the wake of the 2007 real estate bust and recession that followed, the eastward insurgencies by New Jersey lenders have gained momentum, driven by an economic recovery in New York that has outpaced New Jersey's. New York City regained all jobs lost in the recession, while New Jersey has recouped only about half. The losses continued in February, with 4,900 fewer private-sector jobs counted.

One consequence of the Garden State's slow recovery is that bankers on this side of the Hudson River are focused more than ever on real estate lending in Gotham, primarily by financing small- and mid-sized multifamily housing projects in Manhattan and Brooklyn, in neighborhoods such as Soho, Noho and Sheepshead Bay.

"We have made a very concerted effort in New York," said Christopher Coiley, head of Valley National's New York commercial real estate division, which set up shop three years ago above a branch at Broadway and 21st Street in Manhattan.

Big gains for Valley

It seems to have paid off as the resurgent New York real estate market is responsible for a growing portion of the bank's loan growth. Commercial real estate and construction loans to builders and investors in New York City and on Long Island accounted for 45 percent of Valley's $5.5 billion commercial real estate portfolio as of the end of last year, up from 30 percent at the end of 2011, when the bank's total commercial real estate book totaled $4.2 billion.

About $700 million of Valley's new commercial real estate loans were made in New York in 2013, which matched the amount made in New Jersey, where Valley's branch presence is nearly four times as large. For the past year or so, Gerald Lipkin, Valley National's chairman and chief executive officer, has been spending time every week in a new office at 1 Penn Plaza, fostering relationships with New York customers.

Although Washington Township's Oritani Bank has no retail bank branches in the city, it has had a commercial loan office in Manhattan for a number of years, and that office has been busier than ever, according to Kevin Lynch, Oritani's chairman and CEO, who grew up in the Bronx and in Teaneck. "In Bergen, Passaic, Hudson and Essex counties, there is just not enough loan demand for us," he said.

Oritani Bank loans backed by properties in New York now represent one-third of Oritani's more than $2.4 billion in loans, up from less than a quarter in just three years, Lynch said.

Investors Bank in Short Hills is another lender that has made a big push into New York City, especially in Brooklyn, where it has a dozen branches, all added in the past few years.

- See more at: http://www.northjersey.com/news/business/real-estate-in-n-y-lures-n-j-banks-1.836509#sthash.WERkYEzt.dpuf

Saturday, March 29, 2014

Barclays Center gets ACC Tournament

  Daily News excerpt -

The Barclays Center announced Wednesday a two-year agreement with the ACC to bring its men’s postseason basketball tournament to Barclays in 2017 and 2018.

In its heyday, the Big East tournament at Madison Square Garden was the premier event of the college basketball season before the NCAA Tournament. With so many Big East programs moving to the ACC in recent years, joining its list of basketball powerhouses, the ACC has become the strongest conference in the nation.

In three years, that sizzle that used to occupy the Garden in March will shift to Brooklyn, as Barclays Center announced Wednesday a two-year agreement with the ACC to bring its men’s postseason basketball tournament to Barclays in 2017 and 2018. The Atlantic 10, which hosted its last two postseason tournaments at Barclays, will do so for the next two years and bring it back to Barclays from 2019-21 as part of a contract extension.

“I think it’s a statement that we’re the leaders in college basketball now,” Barclays Center CEO Brett Yormark told the Daily News.

As part of the agreement, the ACC and A-10 will play inter-conference doubleheaders at Barclays from 2015-17. ACC commissioner John Swofford said it made sense to pursue bringing its tournament to Barclays given the history in the city of former Big East schools like Syracuse, Pittsburgh and Notre Dame.

“With our league’s footprint spanning the entire Atlantic coast, this is a perfect opportunity to bring the ACC basketball tournament to the media capital of the world,” Swofford said.

Yormark said Brooklyn has a “deep connection” with the ACC, citing borough natives Michael Jordan, Billy Cunningham and Sam Perkins, who all played for North Carolina. The cachet of programs like UNC, Duke, Syracuse and Louisville, which joins the ACC next year, the ACC tournament could become the hottest ticket in town the week before the NCAA tournament.

“I think there’s a paradigm shift going on in the marketplace,” Yormark said. “The ACC, no one can dispute it is the preeminent college basketball tournament in the country, and we have it now. It’s Destination Brooklyn.”

http://www.nydailynews.com/sports/college/barclays-center-boss-hypes-arena-leader-college-hoops-article-1.1735583

Thursday, March 27, 2014

Kings Plaza adding high end retailers

Jewish Voice excerpt -

Kings Plaza, Brooklyn’s premier regional mall, announced on Monday, March 24, that it will be home to the borough’s first Michael Kors store, set to open this fall, and Brooklyn’s first Fossil and Justice stores, which are set to open this spring and holiday season, respectively. These three new retail brands demonstrate how Kings Plaza is elevating its retail mix.

http://jewishvoiceny.com/index.php?option=com_content&view=article&id=7095:kings-plaza-mall-is-moving-on-up-adds-high-end-retailers&catid=112:new-york&Itemid=295

I recently saw a sign for a new Chipotle coming there as well.

Monday, March 24, 2014

Arnold Schwarzenegger and Hulk Hogan at Barclays Center tonight!

Sports World News -

With just two episodes of WWE Monday Night RAW before WrestleMania XXX on April 6 in New Orleans, tonight's episode live from the Barclays Center in Brooklyn promises to be full of surprises as the WWE continues to build towards the biggest event of the year.
 
The WWE has hyped a faceoff between The Undertaker and Brock Lesnar as they continue to build towards their encounter at the Mercedes-Benz Superdome that will see Lesnar attempt to end The Undertaker's 21-0 WrestleMania streak.

The WWE is also promoting appearances by Scooby-Doo and Arnold Schwarzenegger with his Sabotage co-star Joe Manganiell as part of the show.

It was speculated that WrestleMania XXX host Hulk Hogan would be on the show as well, and it was confirmed that "The Hulkster" will appear on RAW as he tweeted that he is in fact in New York City. PWInsider reported that Hogan will in fact appear on RAW tonight in Brooklyn and that he will be making WrestleMania media appearances throughout the week.

http://www.sportsworldnews.com/articles/10986/20140324/wwe-raw-spoilers-video-hulk-hogan-undertaker-appearing-rumored-name-for-wwe-hall-of-fame-as-wwe-builds-to-wrestlemania-30.htm

Sunday, March 23, 2014

Bloomberg Video - Joe Sitt

Buffett Applied Real Estate Parable to Stocks: Sitt


http://www.bloomberg.com/video/buffett-applied-real-estate-parable-to-stocks-sitt-eGWd3d~FT_mDeLO62YOdCw.html

Brooklyn Abridged: Eat. Play. Shop.

Phildelphia News excerpts -

Want to visit the real New York?

Forget Manhattan. Brooklyn is where it’s at today.

One of New York City’s five boroughs, Brooklyn is “rapidly relegating Manhattan to outer-borough status,” said Mark Zustovich, spokesman for Marty Markowitz

Via subway, continue on to Fort Greene, home of the Brooklyn Academy of Music, a 150-year-old institution whose mindset is very much in the 21st century: It has a vibrant, multi-national, multi-screen movie program at its BAM Rose Cinemas, a new theater offering contemporary plays and dance with $20 tickets, and a cafĂ© with live music on weekends by performers from around the world. A few blocks away is Brooklyn’s newest landmark, Barclays Center, the home of basketball and hockey teams.

Finally, don’t leave the borough without visiting its ocean-side attractions, including Coney Island, with a boardwalk offering tasting treats, the New York Aquarium, and off-beat entertainment like the legendary Cyclone, a 1927 roller coaster in Luna Park. Coney Island is also home of the Brooklyn Cyclones, the minor league team of the major league baseball team the New York Mets — where else can you watch baseball by the sea? Brighton Beach, which shares Coney Island’s boardwalk, has its own unique atmosphere, thanks to authentic Russian markets and vibrant nightlife. Go to Tatiana Restaurant to dine on the boardwalk in summertime, then slip inside for a Las Vegas-style revue.

http://thephilanews.com/brooklyn-abridged-eat-play-shop-44944.htm

Coney Island Mayor Retires

Brooklyn Daily Excerpt

Break time: Giordano, now 78, is finally retiring after decades of service to the neighborhood. 

The corner pharmacy — that all-but forgotten place filled with mortars and pestles, pills, powders, potions, ice cream on a hot summer’s day, and the friendly shopkeeper with an apron on behind the counter — was Frank Giordano’s world for 50 years.
In fact, he was that friendly shopkeeper.

Known as the mayor of the neighborhood of Coney Island (that area outside the amusement district where people actually live, eat, shop, and, occasionally, enjoy a swim in the nearby pond), thanks to his membership in some 50 civic groups, including such august organizations as the Alliance for Coney Island, Community Board 13, the Bensonhurst West End Community Council, the Brooklyn Cyclone Baseball Committee, the Federation of Italian-American Organizations, the Coney Island Hospital Coalition, and the Jewish Community Center of Greater Coney Island, Giordano has owned the Friscia Pharmacy at the corner of W. 15th Street and Mermaid Avenue for more than half the store’s oak tree-like existence of nearly a century. 

http://www.brooklyndaily.com/stories/2014/12/bn-sunday-frank-giordano-retires-2014-03-21-bd_2014_12.html

Saturday, March 22, 2014

Video - Cleaning up Coney Island

News 12 excerpt -

The nonprofit group Brooklyn Community Services and others decided to do something about the neighborhood's streets, many of which were still damaged and dirty from Superstorm Sandy.

The volunteers started at Stillwell Avenue and worked their way down to Mermaid Avenue.

The group's work will continue Sunday. They will be handing out more than 100 trees to members of the community to help replace those lost during Superstorm Sandy.

http://brooklyn.news12.com/news/volunteers-pitch-in-to-clean-up-coney-island-1.7473811

Tuesday, March 18, 2014

Booming Housing Market

ETF Daily News -

George Leong:  New York City is a colossal urban jungle, but what strikes me is the surging housing market rental prices in not only Manhattan, but also the strong price appreciation in the borough of Brooklyn.

Average home prices peaked around $550,000 in early 2006, prior to a steady decline since then.

Yet if you look at regions, especially Manhattan and Brooklyn, the demand for housing and rentals is strong, and this has created a surge in rental prices.

What has been apparent in New York City over the past decade has been the clean-up of the city, along with the rapid development in the surrounding areas close to Manhattan, such as Brooklyn.

A look at Brooklyn shows an area that is rapidly growing with multiple new businesses, hotels, and housing market projects reclaimed from former industrial lands.

Whole Foods Market, Inc. (NASDAQ:WFM), for instance, built its largest outlet in Brooklyn that was previously on industrial land. There are now plans for further development in the area.

The end result has been a boom in the housing market in Brooklyn for both property buyers and renters. A look at the rental prices in Brooklyn show rental rates as high as $5,000 a month or more for a two-bedroom apartment.

The former docklands in Brooklyn have been transformed into a beautiful urban area with paths, expensive condos, and a great view of New York City.

The rise is staggering and clearly indicates a booming housing market there.

http://etfdailynews.com/2014/03/18/a-hot-spot-for-investors/

Thursday, March 13, 2014

Rental price gap between Brooklyn and Manhattan narrows to lowest level on record

Daily News excerpt -

Brooklyn's just a step away from being just as expensive a place to live as Manhattan.
The gap in rental prices between the two boroughs narrowed to just $210 in February - the smallest price difference on record - according to a report from Douglas Elliman.

The median rent in Brooklyn surged 11.6% to $2,890 in February.

Meanwhile, in sleepy Manhattan, the median rent fell 2.8% to $3,100.

Douglas Elliman tracks rents in North and Northwest Brooklyn.

"Brooklyn came into its own," Jonathan Miller, CEO of appraisal firm Miller Samuel, which compiled the Douglas Elliman report, told the Daily News.

"It's less about being a cheaper alternative and more about being a distinct rental market that is poaching demand from Manhattan."

Much of the narrowing of price occurred over the last two to three years as Brooklyn's popularity soared and the borough saw a wave of new rental development.

Back in 2008, the price gap between the borough was $1,125, five times what it is today.
"Part of the reason Manhattan is leveling off is that it has significant competition from Brooklyn," Miller said.

Tuesday, March 11, 2014

Times Square by the Sea



BurgerFi, Applebees, Johnny Rockets, Red Mango, Rita’s Italian Ices, Subway Cafe, Dunkin Donuts, It’Sugar, Popeyes, Brooklyn Nets Store, Nathans, Toms, Grimaldi’s

We're getting there............YES!!!!!!!

BurgerFi Coming to Coney!

From Zigun's Twitter


What ELSE is New you ask in Coney? Rumor says BURGER FI hit Floridian franchise ala ShakeShack opening on Stillwell w/Roofdeck Thor's Bldg

https://twitter.com/DickZigun/status/443192730525917184

More on BurgerFi here


Brooklyn Paper - More on the Water Park

The people behind Luna Park are looking to make an even bigger splash in Coney Island.
Zamperla — the company that operates Luna Park, lights the Parachute Jump, and makes the B&B Carousell go round — are in talks to build a waterpark on the former site of the original Thunderbolt rollercoaster. 

Italian-born amusement tycoon Alberto Zamperla said that he is in negotiations with Jasmine Bullard, daughter of the late Sodom by the Sea land baron Horace Bullard, to construct a slippery funzone on five parcels stretching from Surf Avenue to the Boardwalk. 

http://brooklynpaper.com/stories/37/11/all-coney-waterpark-2014-03-14-bk_37_11.html

Newsday - Coney Island Water Park 2016!

Excerpt -

Valerio Ferrai, president of Central Amusement International and Luna Park operator, said plans are in the works for a water park for 2016.

"With a water park it will be busier than ever and will mean more jobs and make Coney Island more of a destination," Ferrari said.

http://www.newsday.com/news/new-york/new-roller-coaster-coming-to-coney-island-1.7348713

Sunday, March 9, 2014

Coming soon.......

https://www.theconeyislandamphitheater.com/

"This isn't going to be a fight between the mayor and developers, it's going to be a fight between the mayor and the NIMBYs,"

As predicted  --- De Blasio will be the most pro development mayor in the history of this city. Way to go Mayor De Blasio!

Daily News excerpt -

Officials made clear it will be a template for future development, as de Blasio tries to fulfill his goal of creating or renovating 200,000 units of affordable housing.

"I know some people are uncomfortable with the density and the height of this project," said Planning Board member Michelle de la Uz, who was appointed in 2009 by de Blasio when he was public advocate. "We all need to recognize the housing crisis we're in and seize every opportunity to maximize units."

In an interview with the Daily News, Planning Commissioner Carl Weisbrod said density and good design and planning need not be mutually exclusive.

"We'll be looking at these projects on a case-by-case basis," he said.

Steven Spinola, head of the Real Estate Board of New York, agrees that preservationists are drawing false distinctions between density and quality of life.

"Responsible developers care about quality construction and architectural distinction, they can and will continue to accomplish both," he said.

The real estate industry has certainly been emboldened by the Domino project.

"This isn't going to be a fight between the mayor and developers, it's going to be a fight between the mayor and the NIMBYs," one executive said, using the acronym for 'Not in My Backyard."

Whatever the aesthetics of the buildings turns out to be, one thing seems clear.

Call him 'Build de Blasio,'" said Simeon Bankoff, director of the Historic Districts Council. "The new message out of City Hall is 'Build, baby, build.'

Saturday, March 8, 2014

Ritas Coney Island

New Facebook page

Rita's Italian Ice coming soon to Coney Island Ritas Coney Island will offer a variety of treats including our famous Italian Ice, Old-Fashioned & Light Frozen Custard, Milkshakes, Sundaes, Frozen Custard Cakes, Custard Cookie Sandwiches made with Oreo®; layered Gelati as well as our signature Misto® and Blendini® creations. Which will you have first? — at Coney Island. (4 photos)
 

Baseball in March

From the Cyclones Facebook page-

· 18 hours ago

Best part of the new field? Baseball in March without a problem. Army vs. Wagner at MCU Park from earlier today.


https://www.facebook.com/photo.php?fbid=10152021319562717&set=a.57155652716.70723.40490112716&type=1&theater

Kings Theater renovation running ahead of schedule

Brooklyn Paper excerpt -

This blockbuster renovation project is running ahead of schedule.


One year after breaking ground on a massive restoration of the Kings Theatre in Flatbush, restorers with Ace Theatrical Group say the picture palace that had sat abandoned since 1978 is actually less messed-up than they first thought, and that it could open in November, a month earlier than anticipated.

“We thought it was going to be harder,” said Ace president David Anderson. “It’s been a derelict building for 35 years — just sitting on Flatbush Avenue, gradually crumbling.”

The Brooklyn Paper took an exclusive tour of the construction project, which is meant to make the iconic theater look like it did when doors first opened in 1929.

When it reboots, the theater will host live music, theater, and dance acts, as well as several concession stands and a basement lounge. But first, Ace has to bring the venue back from the dead.
 
Ace inked a deal with the city in 2012 to restore the theater and operate it for 55 years, with more than half the $94-million project’s funding coming from taxpayers.

http://brooklynpaper.com/stories/37/10/all-kings-theater-update-2014-03-07-bk_37_10.html

Thursday, March 6, 2014

Brooklyn's Next Frontier

BisNow excerpt -

For all those who think Park Slope has jumped the shark on cool, our keynote, Brooklyn Chamber of Commerce CEO Carlo Scissura, suggests Midwood (a great place to raise a family), Ditmas Park, Sunset Park, Borough Park, Coney Island (the boardwalk is on its way), Sheepshead Bay (miles of beaches and a marina), and Bensonhurst (spectacular quality of life, despite bell bottoms' exit from the Saturday Night Fever setting). Oh, and he also requests that you bring some office supply to Brooklyn.

http://www.bisnow.com/commercial-real-estate/new-york/992-brooklyns-next-frontier/

Wednesday, March 5, 2014

Coney Island breaking ground on new Thunderbolt Monday

AMNY excerpt -

Expect a new joy ride at Luna Park this Memorial Day weekend -- its first-ever vertical lift steel rollercoaster, the new Thunderbolt.

Coney Island's first new custom roller coaster since 1927, the year the Cyclone was built, will reach speeds of 55 miles per hour and stand 115 feet tall.

"The approximately two-minute ride begins with a jaw-dropping 90-degree vertical drop," according to a news release from Luna Park's parent company. "Followed by a 100-foot vertical loop, a 80-foot zero-g roll, a 112 degree over-banked turn, a unique heartline dive, a corkscrew and several airtime hills."

The historic amusement park will break ground on the rollercoaster on Monday where the original wooden Thunderbolt stood for more than 60 years. The new ride is being built by Zamperla S.p.A.

http://www.amny.com/news/coney-island-breaking-ground-on-new-thunderbolt-monday-1.7293577

Tuesday, March 4, 2014

NY Times - Deal Is Reached on Redevelopment of Brooklyn Sugar Refinery

Excerpt -

In the deal struck Monday, the developer, Jed Walentas, agreed to reserve about 700 units for low- and moderate-income residents. He will also increase the proportion of affordable units that are configured as two- and three-bedroom apartments, considered more suitable for families than studios and one-bedrooms.

In exchange, Mr. Walentas and his firm, Two Trees, are expected to receive a zoning change allowing their towers to rise up to 55 stories above the East River, about 20 stories higher than current regulations permit. Mr. Walentas will also be able to charge higher rents for some of the affordable units in the project than he would have previously.

Aides to Mr. de Blasio praised the deal as a victory, calling it a template for how the new administration planned to approach large-scale developments in the future.

http://www.nytimes.com/2014/03/04/nyregion/deal-is-reached-on-redevelopment-of-brooklyn-sugar-refinery.html?hpw&rref=nyregion

Saturday, March 1, 2014

South Brooklyn's Time To Shine

Commercial Observer excerpt -

South Brooklyn’s waterfront neighborhoods have long fostered considerable charm and affluence despite being overshadowed by the explosion of “brownstone Brooklyn,” Williamsburg and Bushwick.

A few isolated incidents—take the 2011 Brighton Beach boardwalk shooting—and Superstorm Sandy didn’t help with image improvement, but recent developments point to South Brooklyn’s waterfront communities as the next Kings County neighborhoods to catch fire.

“The demand is certainly there, and the supply is getting there,” said Massey Knakal Director of Sales Alex Svetlakou, who focuses on South Brooklyn.

South Brooklyn neighborhoods like Sheepshead Bay and Gravesend established themselves as valuable real estate strongholds years ago, and Manhattan Beach has ranked among New York City’s most expensive enclaves. South Brooklyn in recent years has also witnessed significant spikes in investment and development, as young families and affluent working professionals look to its shores as a happy medium between city life and suburbia.

The number of development site and investment sales in Brighton Beach doubled to 12 between 2009 and 2013; in Gravesend, the number jumped from 16 to 25; and in Sheepshead Bay, the number soared from eight to a staggering 43, according to data from Massey Knakal.

Earlier this month, Mr. Svetlakou and the firm’s chairman, Bob Knakal, arranged the sale of a portfolio of eight buildings within a 3-mile stretch of those three neighborhoods for $78 million, showing that developers are willing to shell out big money for land that is very limited and in high demand. The portfolio pulled in $173,000 per unit.

http://commercialobserver.com/2014/02/south-brooklyns-time-to-shine/