MaryAnne Gilmartin, executive vice president of Forest City Ratner Cos., provided details of Forest City's current and upcoming area projects before a sell-out crowd at the quarterly Brooklyn Real Estate Roundtable Luncheon held May 6 at the Brooklyn Historical Society. Douglas Steiner, chairman of Steiner Studios, Ari Milstein, executive director of Automotion Parking Systems, and Ron Soskolne, of Industry City Associates, also made presentations.
Gilmartin reported that after winning 20 court victories, the $4 billion, 22-acre, mixed-use Atlantic Yards project is moving forward. She outlined the project's benefits for the borough including that 44.5% of the contracts to date have been awarded to minority and women-owned business enterprises; the first residential building will set aside 30% of the units for middle-income families and 20% for low-income families, with the remainder offered at market rate; and the creation of thousands of jobs.
The project is a collaboration between Forest City and master planner and architect Frank Gehry, and will include a 34-story, 650,000 s/f office building. The firm will also break ground later this year on the project's 850,000 s/f sports arena. Gilmartin also noted that the firm is currently constructing a 34-story residential building at 80 DeKalb Ave.
Steiner introduced 80 Metropolitan, a 6-story, 50-unit, condominium project in Williamsburg. Sales have been steady since the sales office opened in November, with the exception of March, which was a slow month, according to Steiner.
Steiner also updated the guests on Steiner Studios, a full-service, "production factory," built on 15 acres at the Brooklyn Navy Yard. Steiner said his firm is seeking to develop the entire 50-acre area and create the equivalent of a full-service lot in Los Angeles.
Soskolne reported on developments at the Bush Terminal, the industrial district between the Gowanus Expy., the waterfront, 50th St., and 25th St., and the Industry City buildings, 17 major buildings between the Gowanus Expy., Brooklyn Marine Terminal, 32nd St., and 41st St.
Milstein discussed Automotion Parking Systems, which has designed fully automated parking garages in three projects in the area.
The May program was sponsored by Herman Miller and, as with all the quarterly luncheons, the proceeds were donated to the Brooklyn Historical Society. Additional luncheons in 2008 are scheduled for August 5, and November 4 and will address timely issues affecting the real estate industry in the borough.
Members of the Roundtable Steering Committee include: Eric Brody, The Brody Group; Louis Greco, Jr., Second Development Services, Inc.; Christopher Havens, CRES; Michael Kaye, Douglaston Development; Timothy King, a licensed real estate broker; David Kramer, principal of Hudson Cos., Inc.; Albert Laboz, United American Land; Sara Mirski, Boymelgreen Developers, Inc.; Jason Muss, Muss Development; William Ross, Halstead Property; Jay Schippers, Jay M. Schippers Realty; Joseph Sitt, Thor Equities; David Von Spreckelsen, Toll Brothers; and Douglas Steiner, Steiner Equities. MaryAnne Gilmartin, executive vice president of Forest City Ratner Cos.; Douglas Steiner, chairman of Steiner Studios; and Deborah Schwartz, president of the Brooklyn Historical Society. Tags: