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Indicted Bear Stearns Hedge-Fund Manager’s Business Card Raking In Cash on eBay
Matthew Tannin's old business card is getting bid up, even as everything else Wall Street seems to be going down. All that and more in our daily roundup of finance, real-estate, media, and law news.
Posted 06/23/08 in Daily Intel : Company Town
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They're Crazy From the Heat!
Harlem residents suspect gentrifiers are the cause of a raccoon outbreak, a miffed man burns down his neighbor's house on Staten Island, and government workers from separate departments deliberately, sneakily sabotage one another in the East Village. All this and more in our daily boroughs report.
Posted 06/09/08 in Daily Intel : Neighborhood Watch
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New Port Authority Chief Not So Sure About This Atlantic Yards
Chris Ward, due to take over the Port Authority this month, suggests to us that he thinks Bruce Ratner should consider recruiting architects other than Frank Gehry.
Posted 05/08/08 in Daily Intel : Developing
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The ‘Post’ and ‘Daily News’ Have Contrary Takes on the Future of the Atlantic Yards
Jennifer Connelly ditches the Slope, Travolta hits Dumbo, and Warhol's former porn house in the East Village. Those are all the celeb items in today's boroughs report, we promise!
Posted 05/05/08 in Daily Intel : Neighborhood Watch
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Gawker Media Spins Off Wonkette, Gridskipper, and Idolator
Sting buys a new place, the West Side is in jeopardy, and Wachovia raises $7 billion in our daily news roundup.
Posted 04/14/08 in Daily Intel : Company Town
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Big Urban-Planning Issues: How Do We Get LeBron?
It’s been a bad week for massive urban-planning projects. First came news that Madison Square Garden would be renovating instead of moving into the Moynihan Station megadevelopment across Eighth Avenue.
Posted 04/08/08 in Daily Intel : The Sports Section
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Frank Gehry: Why Do I Have to Be the One to Lie to the Papers?
Of course his tower is going to be erected as part of the Atlantic Yards project, the architect explained to the Brooklyn Paper last night. Why ever would you think it wouldn't?
Posted 04/04/08 in Daily Intel : Developing
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Showdown at the Brooklyn Museum
Developer Bruce Ratner is slated to receive an award tonight at a fancy gala, and opponents of his Atlantic Yards project will be there to make sure he doesn't enjoy it.
Posted 04/03/08 in Daily Intel : Atlantic Yards Watch
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Clive Campbell Wants Slavery Reparations From Jay-Z, Of All People
Atlantic Yards: Activist Clive Campbell has filed a $5 billion suit against Bruce Ratner, Jay-Z, and Barclay's bank. He's suing for slavery reparations, because of alleged slave trade ties in the history of the bank. [NYO] Bedford-Stuyvesant: Cleaning your dog's poop is all about respect. Respecting yourself, that is. [Newyorkshitty] Dumbo: If you want your short film to play on the big screen at Brooklyn Bridge Park, now's the time to submit it to Movies With a View. No subtitles, please. [Dumbo NYC]
Posted 02/25/08 in Daily Intel : Neighborhood Watch
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Chris Smith: Ratner Showing Fear, At Last?
Here's the argument Bruce Ratner's lawyers won't be making in court: "Please hurry up and make a decision on the lawsuits challenging Atlantic Yards, judges, because the delay is cutting into our profits." But while the sentiment goes unvoiced, that's what Ratner's current posturing is really all about. Last week Ratner's representatives filed papers with a state appellate panel seeking to expedite a ruling because "the credit markets are in turmoil at this time … There is a serious question as to whether, given the current state of the debt market, the underwriters will be able to proceed with the financing for the arena while the appeal is pending."
Posted 01/29/08 in Daily Intel : Atlantic Yards Watch
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School Principal Single-handedly Stops Ratner Drillers
Bruce Ratner has plans to build Brooklyn's tallest structure using air rights from CUNY's NYC Technical College. The City Tech tower, to be designed by Renzo Piano, is being built with the collaboration of the school — and in return, they'll get a new class and lab building, built by Ratner. But there's one loser in this deal: George Westinghouse High School, which uses an auditorium and parking lot on the CUNY site where Ratner will be building. School officials only received a fax with the announcement a couple of days before a crew arrived to start work for excavation. "The principal asked the workers to leave the property, and they did," a community activist explained later. The school has rented the space from CUNY for years, and administrators have tried since September to learn what will happen to it. "They had one sit-down with construction people that ended poorly," says the activist. The school's PTA will meet with representatives of both Ratner and the Department of Education on January 19 (which would seem to make them more influential than dozens of celebrity protesters against Ratner's other Brooklyn projects, who can't seem to get a meeting with him). Ratner spokesman Lorin Reigelhaupt promises to restore lost parking spaces on-site or nearby, but neither Reigelhaupt nor the DOE will comment on the future of the auditorium. —Alec Appelbaum
Posted 01/07/08 in Daily Intel : Developing
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Renzo Piano Forgot the Bike Racks
Times Square: If the New York Times building is so green, how come there's nowhere to park a bike? [Streetsblog] Atlantic Yards: Will the Yards eventually feel more like Madison Square Garden, or Newark? This blog captures the debate from the Brian Lehrer Show. [Atlantic Yards Report] Brooklyn Heights: The Wandering Stranger of Schermerhorn Street has disappeared! And has earned himself a poetic blog elegy. [Deep in the Heart of Brooklyn via Brooklyn Heights Blog]
Posted 12/06/07 in Daily Intel : Neighborhood Watch
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Housing Advocate Brad Lander to Run for DeBlasio's Council Spot
Brooklyn City Councilman Bill DeBlasio plans to run for borough president, and the guy who wants to replace him is part of the borough’s urbanist next generation. "I’m running," said Brad Lander, 38, who directs the nonprofit Pratt Center for Community Development. Lander, neighbors might remember, got the Bloomberg administration to include affordable-housing incentives when rezoning the Williamsburg waterfront two years ago. A savvy political operator, Lander is also popular with the brownstone-bourgeois crowd — the Atlantic Yards Report quotes him approvingly. Even Steven Spinola, president of the Real Estate Board of New York, has battled with Lander and admits grudging respect. "He’s a bright individual," Spinola says. Having successfully fought last year to bring those affordable-housing incentives to parts of all five boroughs, Lander now wants to expand them to the entire city and require public amenities in all development. He also wants to save rent stabilization. "What I feel a lot of passion about is, shouldn’t this growth and development bring us new parks and affordable housing and jobs?" he told us. "It seems like all they bring is luxury condos." —Alec Appelbaum
Posted 11/16/07 in Daily Intel : Intel
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Markus Dochantschi to Blend Luxury With Affordable Beside BAM
Back in April, we told you how a city competition had produced attractive, ecohealthy, and affordable housing in the South Bronx. When architect Markus Dochantschi, Zaha Hadid's onetime U.S. point man, finished second in that competition, he vowed to find another spot for his utopian plans. His sights were set on the ritzy city-owned site next to BAM, where another similar competition was running. This time, he won. Dochantschi, working with German architect Stefan Behnisch, will design 187 units, including 30 for-sale apartments and an unspecified number of affordable ones, above a retail and performance space where Fulton Street meets Ashland (near Frank Gehry's modern explosion over the Atlantic Yards). He says the scheme scatters for-sale and low-income units throughout the tower to ensure that no one section becomes less desirable than others. Instead, as the above rendering shows (and another more clearly after the jump), he "twisted the orientation" to make sure the north-south exposure was no less enticing than the east-west. As a result, he says, "hotspots" throughout the building will ensure plenty of nice light and air. He hopes the building opens by 2010. —Alec Appelbaum
Local Planner Gets the Big Job [Brooklyn Papers] Related: Mr. Ratner's Neighborhood [NYM]Posted 11/06/07 in Daily Intel : Developing
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Ratner, Lopez Do Business the Old-Fashioned Way
Major decisions and policy changes often seem to come out of nowhere in Albany, thrown together in the late-night rush to beat the close of a legislative session. But when it comes to Bruce Ratner and Atlantic Yards, the foundation for such maneuvers has been quietly in the works for years. And last night, the savvy stroking paid off for him yet again. It'll cost you, though.
Posted 06/22/07 in Daily Intel : Atlantic Yards Watch
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Bruce Ratner Wins a Round in Atlantic Yards Legal Battle
A federal judge this afternoon dismissed Goldstein v. Pataki, the key eminent-domain case seeking to block Bruce Ratner's Atlantic Yards megadevelopment. It's a major setback for the Develop Don't Destroy crowd, right? Wrong, says Matthew Brinckerhoff, DDDB's lead lawyer. Indeed, he calls it good news. "There was an initial ruling by the federal magistrate saying we didn't belong in federal court, and now a district court has said we belong in federal court but dismissed the claim," Brinckerhoff told us. Now, he says, his clients can focus their appeal on the merits of the case — that public officials delivered the massive project to Forest City Ratner when it should have gone to multiple bidders in a public process — rather than on jurisdictional technicalities. "Given where we were, we are not worse off," Brinckerhoff said. Of course — and we're not lawyers — one would imagine it would be even better not to have to appeal at all. But Brinckerhoff is standing firm and tossing off sound bites. "This is far from over," he said. —Alec Appelbaum
Posted 06/06/07 in Daily Intel : It Just Happened
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You’re Helping Bruce Ratner Pay His Mortgage
Norman Oder of Atlantic Yards Report does some disturbing math today. Bruce Ratner's Gehry-tastic Brooklyn colossus, sold to the public as a private project with some government funds thrown in, is, in fact, backed by the government more than it is by any private source. Combining the numbers strewn about in various court documents, Oder comes up with a simple and startling detail: More than half of the projected $4 billion funding for Atlantic Yards comes from public sources. The city is in for $205 million, twice the original figure, and the state for $100 million, and just over $2 billion in tax-free bonds will pay for the arena and the affordable housing. Tax-free bonds, as you might point out, are not direct grants. That's true. But they'll allow Ratner to borrow money at very, very low rates. So they're basically a government-issued discount mortgage. Boy, do we feel like chumps, paying all that interest to CitiMortgage. Privately Financed? [Atlantic Yards Report]
Posted 06/06/07 in Daily Intel : In Other News
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Who's Causing Con Ed's Rate Hike? Ratner! Spitzer! Everyone!
New York's electricity bills, already the nation's highest, are about to go up again — probably not by the proposed 17 percent, but definitely enough to be felt. What does that mean? Blame for everyone! Con Ed says it needs the dough to improve infrastructure and maintain its "high level of service reliability," which is a pretty good joke, especially in Queens. But the company is also blaming big, grid-taxing city projects — for instance, Atlantic Yards. Needless to say, anti-Yards activists are thrilled. "Hey New York, Bruce Ratner is going to increase your Con Edison bill," begins the latest Develop Don't Destroy missive. Oh, and it's also Eliot Spitzer's fault, says Con Ed; the governor won't build new power plants. Who else is to blame? You, of course. Can't you turn down the A/C already? Con Ed Planning an Electric $hock [NYP] Ratner Will Increase Your Electric Bill. Shocking. [DDDB]
Posted 05/24/07 in Daily Intel : In Other News
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Marty's Purge: It's About Gowanus, Not Yards, Says a Survivor
Five longtime members of Brooklyn's Community Board 6 were replaced by Borough President Marty Markowitz, as today’s Times reported, and there was a pattern: All were active opponents of Atlantic Yards. It was a purge, it seemed, and even stranger one conducted by a man usually viewed by the press — us included — as a kind of lovable, pizza-eating panda in a captain's hat. The five members' terms were up, and Markowitz certainly has the power to replace them, but it's typically not done, and the move seems surprisingly Machiavellian for a man best known for his boosterish enthusiasm for cheesecake. So we called CB6 member Jeff Strabone, another Yards critic whose own term isn't up until next year — and here the plot thickened. Per Strabone, Atlantic Yards was not the real cause of Marty's house-cleaning. Nope, Markowitz is looking a step ahead.
Posted 05/23/07 in Daily Intel : Intel
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Purge?
• The Times spots an interesting pattern in the turnover pattern at a Brooklyn community board: Each of the five members tossed out this week by Borough President Marty Markowitz was a vocal opponent of Atlantic Yards. [NYT] • A fire broke out at a stable in Chestnut Ridge, about 30 miles north of the city, killing two horses and eight ponies. Yes, eight dead ponies. Good morning to you too. [amNY] • Closing arguments have sounded in the Braunstein case, which went to the jury last night. The defense memorably insisted the hapless kidnapper's "brain broke," and the prosecution, well, didn't really disagree — but still found intent in his actions. [NYDN] • The latest restaurant added to the lawsuit over minimum-wage violations: Jay-Z's 40/40 Club, which joins the allegedly ultrastingy B.B. King Bar and Grill (wait, are they now just targeting musician-owned places?) and others. [Metro NY] • And five young Long Islanders had to be Tasered at Disney World; after getting caught spitting at patrons, the four teenage siblings and a friend had apparently decided on "jumping a cop" as the optimal next-step strategy. [NYP]
Posted 05/23/07 in Daily Intel : The Morning Line
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