Category: Linked

Bagels and Health Food Give Way to Chain

You’re not going to see a Starbucks there,” said Backer. “It’s too expensive for them.

Going on record here that whatever goes there will probably suck more than a Starbucks (unless, of course, it’s an Apple Store…).

Advancing the Starbucks Rumor

Speaking of baseless retail rumors, Millenium Health moved out of their space at Bedford and North 3rd this weekend (like their former neighbor The Bagel Store, Millenium is reopening on the Southside). Combined with the Bagel space, this makes for an even bigger potential retail (and rumor) space.

Domino Falls Down

Molly Heintz, in A|N:

[New CPC head] Cestero will be responsible for addressing Domino’s future as well as the bigger question of whether, given its mission, CPC-CPCR should have been involved with such a project in the first place.

Stores Go to the Edge

The Wall Street Journal has details on the new retail that is coming to the Edge. These include a name for the grocery store we learned about last month (“Brooklyn Harvest Market, which will focus on organic produce” – seriously, who doesn’t focus on organic produce in Brooklyn?), a bike store and a “contemporary Italian restaurant, espresso bar and bakery called Fabbrica, run by Alberto Baudo, owner of the Acqua restaurant and wine bar” in the Seaport district.

Domino Fight Turns Sour

Eliot Brown, in the Wall Street Journal fills in a few important blanks on the Domino saga:

[After defaulting a $125 million loan] CPC cut a tentative deal with [lender] Pacific Coast Capital, in which CPC agreed to give the company an 84% stake in the property in exchange for forgiving the debt… Under the deal, CPC would have day-to-day control over the project for now. But Pacific Coast Capital would have final say over major decisions such as sales and new partnerships…

And then there’s this:

The financial troubles of the Domino project also raise questions about some of the pledges CPC made when it won city approval for the project. According to city officials and [CPC CEO Rafael Cestero], the developer’s commitment to fulfill its pledge with regard to affordable housing isn’t binding… Mr. Cestero said CPC is still committed to developing the project as pledged. But he also acknowledged that the owners would be open to selling the project if the price were high enough. He said he doesn’t expect this to happen.

Reading between the lines, it sure sounds like Pacific Coast is in control of which entitlements will be taken (and which promises are fulfilled).

Domino is Not For Sale

CPC Resources tells the Brooklyn Paper that they are not selling out, just looking for a “reputable developer” experienced in waterfront development and affordable housing to partner with on the project. Which is to say, they want to sell part of the project. CPCR also acknowledged that they are working to renegotiate a $120 million loan – the same loan they apparently defaulted on in late 2011.

Meanwhile, the developer has officially pushed back the start date for phase one of the project to a very squishy “end of 2013”. That puts it a full two years behind the original schedule, and a year and half behind the most recent party line.

Sweet Movie

Aaron Short interviews the makers of the Domino Effect, a (still) topical documentary about the New Domino approval process. I’ve seen the picture in preview, and it is very well done and quite powerful.

Heart the G

Public Advocate Bill de Blasio is joining the effort to continue the G train extension. Unless the MTA decides otherwise, the extra stops on the Crosstown Local into south Brooklyn are scheduled to go away very soon.

Now that the construction is nearing completion, the M.T.A. is considering discontinuing the G-train extension that enabled riders in Greenpoint to go all the way to Kensington without switching trains.

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[Via Brownstoner]