Navy Yard dumps Blumenfeld as Admiral’s Row developer

New York /
Dec.December 26, 2013 05:31 PM

About a year after signing a deal to develop Admiral’s Row in the Brooklyn Navy Yard, Long Island real estate firm Blumenfeld Development Group has been removed from the project.

The Brooklyn Navy Yard Development, a nonprofit that runs the city-owned site, said Blumenfeld did not fulfill its end of the contract, Crain’s reported, though CEO David Ehrenberg declined to elaborate. Under the deal, Blumenfeld was set to grant a long-term lease after it picked a supermarket to move into a 74,000-square-foot space. Construction was expected to start this year.

The six-acre, $100 million project would create a grocery store, an extra 79,000 square feet of retail, about 127,000 square feet of industrial space and the rehabilitation of two long-neglected historic buildings along Admiral’s Row, north of Downtown Brooklyn.

Blumenfield signed a memorandum of understanding with the Navy Yard last December, as The Real Deal reported.

“I’m hoping to get this project back on track,” City Council member Letitia James (D-Brooklyn) told Crain’s, adding that she was disappointed by the dismissal. [Crain’s]Mark Maurer


Related Articles

arrow_forward_ios
New York City Council member Brad Lander (Getty)
Brad Lander calls for city to use land banks
Brad Lander calls for city to use land banks
205 Park Avenue (Credit: Google Maps)
Developer files plans for mixed-use project facing BQE
Developer files plans for mixed-use project facing BQE
Renderings and the currrent site at 1080 Leggett Avenue in the Bronx
Goldman, Blumenfeld team up to buy Bronx warehouse for $40M
Goldman, Blumenfeld team up to buy Bronx warehouse for $40M
East River Plaza and Blumenfeld Development Group principal David Blumenfeld (Credit: Wikipedia and Blumenfeld Development Group)
Blumenfeld Development Group lands $235M refi for East Harlem retail center
Blumenfeld Development Group lands $235M refi for East Harlem retail center
HK Org, Brickman look to sell Clinton Hill apartment building near the Navy Yard
HK Org, Brickman look to sell Clinton Hill apartment building near the Navy Yard
HK Org, Brickman look to sell Clinton Hill apartment building near the Navy Yard
Day in the life of: David Ehrenberg
Day in the life of: David Ehrenberg
Day in the life of: David Ehrenberg
Steiner secures $228M in financing for Admiral’s Row
Steiner secures $228M in financing for Admiral’s Row
Steiner secures $228M in financing for Admiral’s Row
Brooklyn Navy Yard Development Corp. takes over building after tenant falls through, lands new financing
Brooklyn Navy Yard Development Corp. takes over building after tenant falls through, lands new financing
Brooklyn Navy Yard Development Corp. takes over building after tenant falls through, lands new financing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...