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

Hockey team moved to Brooklyn just last year

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

arrow_forward_ios
Mets Owner Steve Cohen (Illustration by Kevin Cifuentes for The Real Deal with Getty Images)
Mets owner airs development plans for space around Citi Field
Mets owner airs development plans for space around Citi Field
Mayor Eric Adams, Related Companies' Stephen Ross and Sterling Equities' Fred Wilpon with a rendering of the soccer stadium (The Related Companies, Sterling Equities, Getty)
Related, Sterling to develop Queens soccer stadium, hotel, 2,500 apartments
Related, Sterling to develop Queens soccer stadium, hotel, 2,500 apartments
From left: Related Companies’ Stephen Ross, Sterling Equities’ Fred Wilpon, and Willets Point in Queens (Getty, Jim.henderson/Public domain - via Wikimedia Commons)
Related, Sterling file first plans for Willets Points housing
Related, Sterling file first plans for Willets Points housing
From left: Sterling Equities' Fred Wilpon, Mayor of New York City Eric Adams, Related Companies' Stephen Ross, NYCFC's star Maxi Moralez (Getty Images)
Queens soccer stadium headed for Sterling Equities, Related land: report
Queens soccer stadium headed for Sterling Equities, Related land: report
Steven Cohen, owner of the New York Mets, in front of Citi Field (Getty Images, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Mets owner pursuing NYC pols for Citi Field casino
Mets owner pursuing NYC pols for Citi Field casino
Queens Borough President Donovan Richards in front of Willets Point. (Office of Queens Borough President, WikiMedia / Jim.henderson)
Willets Point redevelopment finally moves ahead
Willets Point redevelopment finally moves ahead
Jeff Wilpon and Citi Field (Credit: Getty Images and iStock)
New York Mets owner offering his real estate expertise to other sports franchises
New York Mets owner offering his real estate expertise to other sports franchises
Massive Willets Point development site hits the market
Massive Willets Point development site hits the market
Massive Willets Point development site hits the market
arrow_forward_ios

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

Loading...