There are 7 comments and are they ever interesting.
I’m very excited to see the re-development of this site. This development has an amazing location just a few blocks west of the Brooklyn Bridge and steps from Brooklyn Bridge Park. With its location, views and size, this would be a tech company’s dream!
So much for the $1 Billion price tag they were expecting. JW is a joke of an organization and I will never deal with them again. There is a reason why they had to swallow their pride and hire Cushman to do this deal because they were way in over their heads (keep in mind, JW is notorious for their dislike of outside brokers because their "volunteers" do all the work for free).
In the end, they probably left a sour taste at some of the biggest development firms, the borough of Brooklyn and the many brokers who’ve had bad experiences dealing with them. All I can say is, good riddance and enjoy your stay Upstate.
It seems odd that Jared et al were the winning bidders for these properties as well. It almost seems as though they had insider assistance but who knows. Yes, it is great that these propreties are back on the tax rolls though I hope the MTA and city are prepared for the future increase of service needs in the area (food services, electric, sewer, transport etc etc).
It’s not odd at all that Kushner won the deal – I heard from other sources that the other bidders were displeased with JW and the way they conduct business.
Jared Kushner most likely went through hell dealing with them the first time so why not dance with the devil you already know?
Here is something to think about: all the big firms that made a bid (like Vornado) were all capable of making bids bigger than $700m so money wasn’t the biggest issue. It’s likely they all dropped out because of JW and their antics.
Exciting deal. Will be interesting to see how much work the Jay Street site needs before building starts; neighborhood lore holds it’s a highly toxic brownfield.
Now would be an especially mischievous time to landmark the Watchtower sign (if it isn’t landmarked already, that is).