Brookfield pitted against popular yacht school owner in marina battle

Developer wants to bring in high-end operator to run Battery Park City facility

TRD New York /
Dec.December 16, 2014 12:00 PM

A Battery Park resident who has been running popular sailing school Manhattan Sailing Club at the North Cove Marina for 20 years is in danger of losing his operation to Brookfield Property Partners.

Michael Fortenbaugh holds the license to run the yacht club in the Battery Park City marina. The Battery Park City Authority, however, has informed him he can only keep his boats at the marina for another 60 days before he will have to relinquish control, the New York Times reported.

Brookfield Property Partners, which owns the five-building complex surrounding the marina, is bidding against Fortenbaugh for the contract to run the boat yard. The developer plans to bring in operator Island Global Yachting to run the facility. Island Global runs luxury marinas in St. Thomas in Virgin Islands; the Turks and Caicos islands; Montauk, N.Y.; and Newport, R.I., according to the newspaper.

In addition to the yacht club, Fortenbaugh also operates an adult sailing school at the marina, as well as a non-profit boating camp for children.

The Battery Park Authority will vote on the contract in January. [NYT]Tess Hofmann


Related Articles

arrow_forward_ios

Lower Manhattan is tale of two markets: Rental demand is up as sales slow

Brookfield Property Group CEO Brian Kingston and 652 11th Avenue (Credit: Google Maps)

Brookfield drops $83M on Hell’s Kitchen hotel

M&T CEO René Jones and Brookfield managing partner Ben Brown with 5 Manhattan West (Credit: M&T, Brookfield, and Wikipedia)

Brookfield lands $184M refinancing for Manhattan West retail

Fearless Girl and Charging Bull statues, and an aerial view of Battery Park (Credit: Getty Images)

Resi sales are slow in Battery Park City, while FiDi sees uptick

Two Manhattan West and Brookfield Managing Partner Ben Brown

Brookfield seeks nearly $80M in tax breaks for 2 Manhattan West

Brookfield Property Partners CEO Brian Kingston 

Brookfield is getting into the Opp Zone game

Brokerages sue former owners of Battery Park Ritz-Carlton for unpaid commission

FiDi sales are still falling as homes sell at
a discount

arrow_forward_ios