Gothamist: Bruce Ratner And The NYC Real Estate Bubble

Ruse Batner

Fri, 14 May 2004 13:54:16 -0500

Hillarious! Does any of this really shock anyone? I think the idea of buyouts has enetered everyone's mind from day one. But I personally find it hillarious that the immensely overrated Atlantic Arts Building is the first one to fall under the spell of buyouts. They have been one of the more vocal voices against the Ratner plan--which is much more than an arena--and the building is really basically a "gut rehab" taken to the extreme. It barely resembles what it once was pre-gentrification. And now it's an overpriced condo building that is really not that architeturally special in any way. Go too any NYC neighborhood with pre-war buildings that are maintained and you can find nicer buildings. The arena plan is still a bad idea. But the people taking the buyouts. Man, are they one big first domino to fall in a chain. I hope others in the neighborhood are treated as well. Especially the poorer non condo families who rent.

JenW

Fri, 14 May 2004 12:42:54 -0500

Are they buying out any other buildings in the area? My ex lives down the block from the Atlantic Arts building. If he gets bought out for 2x the purchase price of his apartment, I will frigging plotz. There will also be rending of garments and gnashing of teeth at his windfall, lucky bastard.

james

Fri, 14 May 2004 12:20:40 -0500

Haha - this is hilarious. Ratner will basically turn all of these people against each other. The majority will cut the deal, the others will be pressured to cut a deal. Even if they don't, he'll get such a large majority of the 160 out of the 'hood that displacing the others won't seem so bad. And in the end, there will be an arena on Atlantic Avenue. Money talks, nostalgia walks.

moegolden@yahoo.com

Fri, 14 May 2004 12:03:08 -0500

This is probably a huge turning point in most of whatever public opinion was against this project.

Rudayday

Fri, 14 May 2004 12:00:28 -0500

Better than having it taken through fraudulent Eminent Domain proceedings. Take a look at the building and see a TGI Friday's in its place. Thank God for progress.

Mike

Fri, 14 May 2004 11:25:30 -0500

That's the Atlantic Arts building, one of my favorites in the area. Photos and discussion here.