Islanders, Sterling Equities in talks to build Queens arena: report

Hockey team moved to Brooklyn just last year

TRD New York /
Jul.July 22, 2016 02:00 PM

Barely a year after moving from Nassau County to Brooklyn, the New York Islanders are already considering a move to the next borough. The NHL franchise is in talks with Sterling Equities to build a new hockey arena next to the Citi Field baseball stadium in Willets Point, Queens.

The deal would only happen if the Islanders and the Barclay’s Center – their current home – fail to agree on certain improvements, Bloomberg reports. Fans have complained about obstructed views and players about poor ice quality during the team’s first season at the arena, which is owned by Russian billionaire Mikhail Prokhorov. The Barclay’s Center is also small by NHL standards, seating 15,700.

Sterling Equities TRData LogoTINY, a real estate development firm headed by the Wilpon family, owns the baseball team New York Mets, which plays at Citi Field. The Islanders’ owners are Value Retail founder Scott Malkin and Jonathan Ledecky, who bought the team for $485 million last year and took control on July 1.

In December, Sterling Equities and partner Related Companies won City Council approval to build a mall in Willets Point. Earlier this year, Deadspin reported that a Sterling investment fund had lost $300 million, which the company denied. [Bloomberg]Konrad Putzier

Related Articles


Massive Willets Point development site hits the market

The Mets are selling shares again following grim report on Citi Field revenues

New plans for Willets Point could cost taxpayers more

Two Willets Point industrial properties are now up for sale

Here’s what the $10M-$20M NYC investment sales market looked like last week

To move forward, Willets Point developers might have to create 47 acres of parkland

Willets Point mall project needs state approval to move forward, court rules

De Blasio administration reverses course and supports Willets Point mall project