The Real Deal New York

Posts Tagged ‘gateway center’

  • 830-fountain

    Ofer Cohen and 830 Fountain Avenue

    Brooklyn-based developer Bawabeh Realty Holdings sold a 428,550-square-foot vacant parcel near the Gateway Center for $40 million after scrapping plans to build a big-box retail complex, The Real Deal has learned. [more]

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  • Related gets $390M in construction funding

    February 14, 2013 05:30PM

    Related’s Jeff Blau

    The Related Companies has nabbed two construction loans totaling $390 million, Crain’s reported. One loan will be used to fund the expansion of the Gateway Center mall in East New York, Brooklyn and the other will fund the construction of a Queens affordable housing development.

    Bank of America, along with PNC Bank and Sovereign Bank, will lend $225 million for the Brooklyn project. The construction will add 600,000 square feet to the existing 900,000-square-foot structure. [more]

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  • Following the groundbreaking deal last month to develop Panasonic’s $190 million
    headquarters
    in Newark, the Brick City Development
    Corporation will roll out a program starting this summer to lure new corporations to six
    specific sites in the city’s downtown area.

    Brick City Development Corporation, the city of Newark’s economic development
    corporation, is currently in talks with local investors to pitch the six shovel-ready sites to
    companies looking to develop new corporate offices. The city is hoping to take advantage
    of below market rents and a new spurt of development that will lure potential employers
    away from New York or other parts of New Jersey. … [more]

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  • Bronx’s Gateway Center goes green

    June 21, 2010 01:15PM


    Related President Jeff Blau and the Gateway Center

    Gateway Center at Bronx Terminal Market, a 1-million-square-foot, $500 million project, has been awarded LEED Silver certification by the U.S. Green Building Council, making it the second largest project to achieve core and shell LEED certification in the Northeast, according to its developer. Related Companies built the market as the first national retail complex in the Bronx. Gateway Center is 95 percent leased, 91 percent occupied and includes a mix of retailers and restaurants, including BJ’s, Home Depot, Target, Bed Bath & Beyond, Marshall’s, Raymour & Flanigan, Staples, Best Buy, Toys “R” Us and Applebee’s. The Gateway Center is expected to generate more than $20 million in annual tax and revenue for the city, and the project will create an estimated 2,100 permanent retail jobs and 2,900 union construction jobs in the South Bronx, Related says. TRD

    [more]

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  • Bronx’s Gateway Center goes green

    June 21, 2010 01:15PM


    Related President Jeff Blau and the Gateway Center

    Gateway Center at Bronx Terminal Market, a 1-million-square-foot, $500 million project, has been awarded LEED Silver certification by the U.S. Green Building Council, making it the second largest project to achieve core and shell LEED certification in the Northeast, according to its developer. Related Companies built the market as the first national retail complex in the Bronx. Gateway Center is 95 percent leased, 91 percent occupied and includes a mix of retailers and restaurants, including BJ’s, Home Depot, Target, Bed Bath & Beyond, Marshall’s, Raymour & Flanigan, Staples, Best Buy, Toys “R” Us and Applebee’s. The Gateway Center is expected to generate more than $20 million in annual tax and revenue for the city, and the project will create an estimated 2,100 permanent retail jobs and 2,900 union construction jobs in the South Bronx, Related says. TRD

    [more]

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  • Q & A with Related President Jeff Blau

    November 06, 2009 01:58PM
    alternate text
    Jeff Blau

    Save for a few short-term dips, the real estate market in New York has run full steam ahead since the recession of the early 1990s, when Jeff Blau joined the Related Companies out of college.

    And what a run it’s been for the 41-year-old president of the privately held real estate juggernaut, which developed One Union Square South, the mixed-use tower that helped revitalize its downtown neighborhood, and Time Warner Center, which played a similar role at Columbus Circle. On the purely commercial side, Related has also developed the Gateway Center, a three-month-old mall by Yankee Stadium that’s brought big-box retailing to a low-income area.

    Blau talked to The Real Deal about the economy, how distressed assets may provide opportunities and the importance of affordable housing.
    [more]

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  • Phillip Morrow is the president and CEO of SoBro, the non-profit South Bronx Overall Economic Development Corporation, whose goals include improving affordable housing in the area, restoring use to vacant properties, and helping small businesses. Morrow has been with the organization since 1996. Prior to joining SoBro, Morrow was responsible for housing and economic development projects for the Harlem Urban Development Corporation, personally supervising the construction or rehabilitation of over 5,000 residential units in Harlem. The Real Deal spoke with Morrow about rezoning and redevelopment efforts that are underway in the South Bronx. … [more]

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  • alternate textRendering of the Gateway Center at Bronx Terminal Market

    New York City-based discount department store Conway Stores has taken
    18,000 square feet at the Related Companies Gateway Center at Bronx
    Terminal Market, located near the new Yankee Stadium, bringing the
    approximately 1 million-square-foot mall to 90 percent occupancy.  Abe
    Cohen, president of Conway, and Adam Goldschmidt, Conway’s in-house
    director of leasing, represented Conway in the deal. Peter Ripka of
    Ripco Real Estate brokered the deal on behalf of Related. So far, two
    stores have opened at the mall — Home Depot, on April 23, and Staples,
    on June 6 — with the next tenant, Target, scheduled to open July 26.
    Restaurant chain Applebee’s projects an opening of its location at the
    mall at the end of August. … [more]

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