The Real Deal New York

Coney Island Shore Theater owner refuses to entertain offers

Interested parties have proposed a cooking school and renovated cinema for Surf Avenue spot
July 16, 2014 06:40PM

Prospective buyers are lining up around the block for the long shuttered Coney Island Shore Theater, but their bids are falling on deaf ears.

The neo-Renaissance Revival building at 1301 Surf Avenue passed to Jasmine Bullard following the death last year of her father, Horace Bullard. Brokers told the Brooklyn Eagle they’ve had no success getting Bullard to entertain offers.

“I have clients who are ready, willing and able to write a check for the Shore today,” broker Joe Vitacco told the paper. Those clients include a “very well known restaurateur” who wants to open a cooking school and restaurant and a “nationally-known athlete” who would like to see movies play at the Shore once again.

Commercial agent Richard DiPietro said he represented investors who would embark on a roughly $35 million renovation in exchange for equity in the building. He told the paper he could not reach Bullard.

The theater is one of the last holdings in a portfolio of Coney Island properties that Horace Bullard bought in the 1970s and 80s, according to the paper. That portfolio last listed for $102 million before Jasmine Bullard took it off the market last summer[Brooklyn Eagle]Tom DiChristopher

  • “one of the last holdings”

    If I were the landlord, I would call shenanigans on the press printing an article like this that implicitly cast aspersions on a private owner for the benefit of brokers and those who would like EQUITY in the building.

    Was Mr Bullard contacted to confirm this before these assertions were made against him? Maybe he keeps a log or evidence of who has contacted him.

    I called shenanigans when an attorney claimed that he had loads of people with offers to rent our space but that he never told us because we were picky. However, all contact via mail and phone to DIFFERENT addresses and numbers over the years were not about renting our store but BUYING our building. If those people had no problem reaching out to the owner then neither should potential renters. Is the building trying to get a commercial tenant and experiencing a boycott by brokers or something? Is that possible? I would think tenants would find the landlord if the rent is affordable.

    Maybe Mr. Bullard has kept records of the context of the calls claimed to have been made expressing interest in RENTING his site?

    • how long was the deadline

      “Jasmine Bullard didn’t respond to our calls by deadline. ”

      If I were the owner, that article would seem to be aggressive and negative.

      She should list the space on costar since as Deal Sheet on realdeal has shown over the years, brokers with tenants have no problem signing leases with brokerless owners. It would at least show her willingness to rent the space because right now, that article hints at a certain designed persona for her by other people and she doesnt want to drawn into that, does she?

      All she wants is a decent offer. Who would go to Coney Island to learn how to cook? It’s not like it’s a trade school that the government is funding?

      If that were a hotel, I would definitely consider the location but that might be a huge hassle.

      • mattr

        you’re not the landlord. stop commenting your own comments.

  • what can Jasmine do?

    It’s nice when the press and developers and brokers are in cahoots – if you can prove it. Or if they prove it for you.

    I bet Jasmine doesnt want to offend them even though what this article indicates they are doing to her IS offensive.

    It’s not smart business or ruthlessness to character assassinate someone because you’ve got the cronies. It may not be racketeering (yet) but it is shameful.

  • Aaron, is that you?

    Was Mr. Bullard related to the Neville Brothers?

  • could be worse

    she could have rent regulated tenants in there looking to acquire Equity by working with developers but that would involve cooperation with city agencies too