Posted Apr 21, 2014, 9:46 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,914
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Potential partner if the sites are consolidated...
http://therealdeal.com/blog/2014/04/...-closed-store/
J&R finds partner to redevelop sites next to closed store
L+M to work on Park Row buildings that electronics seller uses for storage
April 21, 2014
By Mark Maurer
Quote:
L+M Development Partners is pairing up with the owners of J&R Music and Computer World to redevelop the retail properties on the same block as the iconic but now-closed electronics store, The Real Deal has learned.
The Ron Moelis-led L+M committed to a joint venture that will put together a proposal for the future development of 31 Park Row, and likely 23 Park Row, in Lower Manhattan. The store at 1-15 Park Row was shuttered last week after 43 years in business. J&R founders Joe and Rachelle Friedman plan to seek retail partners to redevelop that site. At this time, L+M’s role will not extend to the main site of the flagship store.
Plans for the store call for “an unprecedented retailing concept and social mecca,” the owners said in a memo. “In order to facilitate this exciting new initiative, the buildings that J&R occupies have to be totally reimagined and redeveloped.” The owner have not yet decided if an iteration of J&R Music and Computer World will be part of the new complex. Its electronics will continue to be sold online via Amazon.com and the J&R website.
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