NEW YORK | Citypoint (Phase 2) | FT | 19 & 30 FLOORS

[yankeesfan1000]

Dekalb Market Told to Make Way for City Point Construction
Thursday, June 21, 2012, by Sara Polsky



"For a little while there we thought all the goings on at Dekalb Market would cause us to forget about Downtown Brooklyn megaproject City Point, but it might actually be the other way around. Our friends at Eater report that the market is being forced out of its spot this fall so that City Point construction can proceed. This isn't a totally unexpected development, but the market—which is now looking for a new location in the area—expected to have five years in its current spot. According to the market organizers' message to operators: "Our landlord has given us notice that they will begin construction this fall and therefore, we will be moving Delalb Market [sic] to a new location. While we have not received official notice, we understand the Landlord’s construction may begin as early as October."

[NYRebel]

Originally Posted by yankeesfan1000

Dekalb Market Told to Make Way for City Point Construction
Thursday, June 21, 2012, by Sara Polsky



"For a little while there we thought all the goings on at Dekalb Market would cause us to forget about Downtown Brooklyn megaproject City Point, but it might actually be the other way around. Our friends at Eater report that the market is being forced out of its spot this fall so that City Point construction can proceed. This isn't a totally unexpected development, but the market—which is now looking for a new location in the area—expected to have five years in its current spot. According to the market organizers' message to operators: "Our landlord has given us notice that they will begin construction this fall and therefore, we will be moving Delalb Market [sic] to a new location. While we have not received official notice, we understand the Landlord’s construction may begin as early as October."

I knew City Point was going to take off, but this is a real indication that this is true. While Dekalb Market was a nice hangout spot I am more excited about the City Point Development.

Hopefully they can find a spot that's unique and maintain it's customer base. Lastly, it was inevitable that this was going to happen sooner rather than later. 5 Years in Downtown Brooklyn? I could have told you that would not have happened especially since Downtown is growing at a astronomical pace.

[NYguy]

It's only good news if the second phase of this project moves forward sooner rather than later.

[NYguy]

An idea of what the completed development would look like (renderings aren't final).


Taken from a few renderings from...http://www.nycedc.com/press-image/city-point


1



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12



What's completed so far

[SkyscrapersOfNewYork]

This needs to be taller. at lest 700 feet.

[Fardeb]

Those renderings seem to be just of the two phase 2 towers and not the tallest phase 3 tower, or am I wrong?

[NYguy]

^ Now that I look at the vagueness of it, that is correct.

Originally Posted by NYguy

Phase 1



Phase 2



Phase 3

__


The other rendering of the full project...




Comparison...

[blueskylover]

Originally Posted by NYguy

^ Now that I look at the vagueness of it, that is correct.





__


The other rendering of the full project...




Comparison...

I love their touch of green... Hopefully, they would complete as they're planning now... Do they have a concrete timeline for this project?

[NYguy]

Originally Posted by blueskylover

Do they have a concrete timeline for this project?

It was recently moved up a bit, but its all market driven.


http://www.brownstoner.com/blog/2012...-office-space/

Inside the New City Point Office Space



By Emily | 09/14/2012

City Point opened up its fourth floor yesterday, where construction recently wrapped. Brokers have begun to market it as a single-tenant office space. It’s a huge space (10,900 square feet to be exact) with an open layout and 21-foot ceilings. One highlight was the rooftop terrace looking out onto Downtown Brooklyn and the giant City Point sign. Brokers said they’d be willing to divide up the space but, at this point, are looking for a single tenant. They are hoping to pull a creative company from somewhere like Dumbo. Elsewhere at the City Point project, site work has begun for Phase Two. Century 21 claimed a lot of the retail space on the lower floors, but won’t move in until fall of 2015.

[The Jerk]

Quite a transformation for what has basically been Brooklyn's version of 125th St./Fordham Rd. It will still have plenty of non-corporate retail, but this changes the game.

[NYguy]

Originally Posted by The Jerk

Quite a transformation for what has basically been Brooklyn's version of 125th St./Fordham Rd. It will still have plenty of non-corporate retail, but this changes the game.

Fordham Road is another of the City's top retail districts, top in the Bronx as I recall. Similarly, Fulton Street has been one of the best - if not the best - retail districts in town. It's always been a successful shopping district. I used to work there and at nearby Metrotech, it was always full of life, one of those classic only-in-New York places, or at least that was the feel of it. A lot of people are watching to make sure this doesn't just turn into another 34th Street, and I hope it doesn't. But I'm glad that Brooklyn is getting all of this development.

[mrnyc]

yeah i work next to it now on some days. its off fulton mall, not on it. well the new albee sq mall part is on it, but thats all. so it wont directly affect fulton mall immediately. of course the people it brings will in time.

even tho we are a few years off from the buildout, its strange to see how much fulton mall is changing already. not sure exactly what is behind that? seems like some behind the scenes collusion between the city, shop bldg owners and citypoint. or to put it in a more positive light, synergy.

[The Jerk]

Originally Posted by NYguy

Fordham Road is another of the City's top retail districts, top in the Bronx as I recall. Similarly, Fulton Street has been one of the best - if not the best - retail districts in town. It's always been a successful shopping district. I used to work there and at nearby Metrotech, it was always full of life, one of those classic only-in-New York places, or at least that was the feel of it. A lot of people are watching to make sure this doesn't just turn into another 34th Street, and I hope it doesn't. But I'm glad that Brooklyn is getting all of this development.

It won't be transformed so easily. This is the epicenter of the courts, immigration and welfare and mental health etc. I think these are good things that define the area for Brooklyn. there will always be small stalls selling goods-little business men making their way on the fringes.

[NYguy]

Originally Posted by mrnyc

even tho we are a few years off from the buildout, its strange to see how much fulton mall is changing already. not sure exactly what is behind that? seems like some behind the scenes collusion between the city, shop bldg owners and citypoint. or to put it in a more positive light, synergy.

Well, the City has specifically set out to change the Fulton Mall. I won't say gentrification, but that's exactly what was implied - the City wants to bring in a different shopper, or people from some of the surrounding neighborhoods - not to mention the new residential towers - that don't shop there now. It's not surprising that every other week I'm reading about a new chain opening there, as if now the place has arrived. Fulton Street never really needed the change, its just the City's efforts to bring in more shoppers than are already there. I don't even want to see another story about a Shake Shack Shack opening anywhere, but you know Fulton is changing. I liked the old Fulton Street, but the Albee Sq Mall I don't miss so much. It was sacrificed so this development could rise, and I think this will be so much better.

[NYguy]

http://online.wsj.com/article/SB1000...LEFTTopStories

Armani Comes to City Point



A rendering of the new Armani Exchange store to open at City Point.


October 7, 2012
Laura Kusisto

Armani Exchange will be the first retailer to open in the recently completed first phase of the massive City Point project in downtown Brooklyn. The affordable, youth-focused stepchild of the famous fashion label has signed a lease for 6,500 square feet on the corner of Fulton and Gold streets and will open in November, in time for the Christmas shopping season.

Armani Exchange, created by Italian designer Giorgio Armani, opened its first store in SoHo in 1991. The brand now has 13 stores in the New York area, including one other location in Brooklyn at Kings Plaza. "Brooklyn is an energetic and vibrant place with fashion-minded young people, perfect for the Armani Exchange brand and lifestyle," said Harlan Bratcher, president and chief executive of Armani Exchange, in a written statement.

The City Point project is one of the largest developments under way in Brooklyn. Its plan calls for 1.6 million square feet of retail, office and residential space to be built by 2018.

This spring, Century 21, the popular discount designer retailer, signed a 125,000-square-foot deal to anchor City Point, which is being developed by a partnership led by Acadia Realty Trust. That store isn't set to open until the fall of 2015.

Armani Exchange's new location will face onto Fulton Street, a strip that has seen a dramatic transformation from a collection of cheap cellphone outlets and fast-food joints into Brooklyn's main answer to Manhattan's popular shopping districts. Gap, Aldo, H&M and Shake Shack have opened or signed deals on the Fulton Mall in recent months.

"City Point is the perfect project to reflect the diversity of downtown Brooklyn today and is a centerpiece in the area's resurgence," said Downtown Brooklyn Partnership President Tucker Reed, in a statement.

[NYguy]

http://brooklyn.ny1.com/content/top_...ntown-brooklyn

City Point Project To Reshape Downtown Brooklyn

10/08/12
By: Jeanine Ramirez

The Albee Square Mall is gone, replaced by City Point, a 50,000-square-foot building with retail giants Century 21 and Armani Exchange moving in. Armani just signed a 10-year lease to take up much of the ground floor. "We were very excited that Armani Exchange shared our vision of what was happening on Fulton Street and we think their brand and lifestyle, which is urban and chic, what they call accessible Armani, fits perfectly on this street," said Paul Travis of Washington Square Partners.

The street known as the Fulton Mall is undergoing a transformation. New tenants like Express and Aeropostale opened on the strip following a Downtown Brooklyn rezoning in 2004 that made way for more commercial and residential developments.

Construction is well underway for phase two. It will be 1 million square feet of space in three buildings between 20 and 35 stories high. They'll offer affordable housing and market rate rentals above the retail floors. The building is expected to open in three years.

The third and final phase will be at the north end. Its use is still to be determined but when built, it will be the tallest tower in downtown Brooklyn, going up 60 stories.

"I think Downtown Brooklyn is the model for the new downtown because it's really about housing and retail and school and entertainment and culture all mixing together in one place," Travis said.

[vandelay]

This project looks far better than the Atlantic Yards proposals, especially Shop's modular apartments.

[NYRebel]

I know this isn't City Point but it's right across the street and since we're talking about the Fulton Mall a bit. . .


Swarovski Wants to Get in on the Fulton Street Mall Action:

A few weeks ago, the Times astutely declared that the Fulton Street Mall is officially happening, you guys. More evidence: Swarovski has just signed a lease there for its first store in Brooklyn. The Post reports that it will move into the ground floor at 490 Fulton Street, right below a Raymour & Flanigan furniture store.

Just think—soon, you'll be able to buy your jewel encrusted animal figurines and your floor lamps all in one place. Other tenants in the building include Express, Seattle's Best Coffee, and later this month, Planet Fitness, making 490 Fulton Street the epitome of a retail smorgasbord.

http://ny.racked.com/archives/2012/0...eet_action.php

So across the street from City Point is Express, Raymour, Swarovski. . . Apple I hope you're listening (watching)! Even though I KNOW Apple wouldn't put a store on the Fulton Mall not yet at least. Too many other locations that would be first lol.

[NYguy]

http://therealdeal.com/blog/2012/11/...s-to-brooklyn/

Brodsky family looks to Brooklyn

November 12, 2012

The Brodsky family has been developing Manhattan real estate for more than 50 years, eventually becoming the city’s largest developers of middle-class housing. But the development group is now turning its attention to a 440-unit rental project at 336 Flushing Avenue Extension in downtown Brooklyn, known as City Point, according to the Wall Street Journal.

Dean Amro, the grandson of Nathan Brodsky, said the firms is focusing now Brooklyn because Manhattan has simply become too expensive for middle-class or affordable housing. ”We couldn’t find locations in Manhattan,” Amro said, noting recent changes in Brooklyn that have made it an increasingly attractive place to live. “We have a lot of excitement about going into Brooklyn and we think in the long term it will be good for us.” The Brodsky Organization is also scouting a second Brooklyn location...

http://online.wsj.com/article/SB1000...192445956.html

Real Estate as a Family Affair

By YAFFI SPODEK
November 11, 2012

Now for the first time, the family is about to begin developing in Brooklyn, according to Dean Amro, the grandson of Nathan Brodsky, who started the family business after serving in the Navy in World War II.

Mr. Amro said in an interview the family will soon announce a site it is buying for a 440-unit rental project in downtown Brooklyn. The Brodsky Organization also is looking at a second Brooklyn location as well, partly because development sites in Manhattan have gotten too expensive for affordable rental housing developments, he said.

[NYguy]

http://fort-greene.thelocal.nytimes....local-protest/

Armani Opening Spurs Local Protest





By CRAIG GIAMMONA
November 20, 2012

Scores of shoppers descended on the former Albee Square Mall on Saturday for the opening of an Armani Exchange store in the first building of the massive City Point development, despite sign-carrying demonstrators protesting that the site’s upscale transformation is a waste of taxpayer dollars.

Members of sheet metal workers Local 361 also rallied at the site, complaining that the developers of City Point, Acadia Realty Trust and Washington Square Partners, had not used union labor on the building that opened Saturday and had no plans to change course for Phase II of the project, scheduled for ground breaking in a few weeks.

Some members of the union spent Saturday morning passing out fliers questioning whether Armani had hired local residents to staff the store. Nevertheless, shoppers came out in droves on the brisk November morning for the grand opening, lured to the new ground-floor retail space in part by the promise of $25 gift cards.

Armani Exchange became the first store to open at the City Point development, which is expected to add nearly 2 million square feet of residential and retail space to downtown Brooklyn over the next few years. The store’s new home, near the intersection of Fulton Street and Flatbush Avenue, is City Point’s first building, a 50,000-square-foot, four-story structure with a terracotta facade across from the Dime Savings Bank building. A Century 21 department store, planned to open by 2015, is expected to occupy most of the space in the newly opened building, City Point spokesman Tom Montvel-Cohen said.

The development of Phase I of the City Point project was spurred by $20 million in tax exempt bonds allocated by the city through the American Recovery and Reinvestment Act, the federal stimulus program signed into law by President Obama in 2009. Phase II of the project, which includes the development of close to 500,000 square feet of retail space and another 500,000 square feet of residential space, is scheduled for completion in December 2015.