Stadium Discussion

[Kjbert]

FredMertz yiu can't say this is a bad deal for the city and then not provide an alternative.

Fact is that this is a shitty plot of land in an otherwise uninhabited part of the city. The city doesn't own the land and currently reaps no benefit from it.

The state will seemingly request proposals on development. At that point, anyone can come forward and propose a land use. New York City could feasibly make a bid.

So the NIMBYs can't complain this is a "corporate handout" to use your term while also not providing a reasonable alternative.

 

[Kjbert]

Another thing. NYCFC is paying$500k per year for rent if you believe the article. They are going to pay for capital improvements that increase the value of the land. They will not be paid back.

I have no clue what the value of that land is but let's say it's $100 million. $500k Worth of rent plus $700 million of spending plus a new medical facility plus affordable housing plus a new park plus an entertainment hub is an incredible return for that neighborhood.

 

[FredMertz]

FredMertz yiu can't say this is a bad deal for the city and then not provide an alternative.

Fact is that this is a shitty plot of land in an otherwise uninhabited part of the city. The city doesn't own the land and currently reaps no benefit from it.

The state will seemingly request proposals on development. At that point, anyone can come forward and propose a land use. New York City could feasibly make a bid.

So the NIMBYs can't complain this is a "corporate handout" to use your term while also not providing a reasonable alternative.

My apologies for not having an alternate proposal prepared to accompany my off-the-cuff forum postings.

In order to live to your ideals, I assume you will send us a video of your first touch and ball skills before criticizing the play of any players?

 

[NYCFC_Dan]

Can we please get off this page ASAP. K thanks.

 

[Seth]

Every party would need to build that unless you’re ok with freight trains running through your lobby.

Are you kidding? That would be *awesome*!

https://www.cafepress.com/+csx-freight-train+t-shirts

 

[SanBartG]

But that does not mean they are not impacted by the decision!

My apologies for not having an alternate proposal prepared to accompany my off-the-cuff forum postings.

In order to live to your ideals, I assume you will send us a video of your first touch and ball skills before criticizing the play of any players?

I don’t think he meant you personally.

In any case, don’t let the perfect be the economy of the good especially when your perfect preference seems nonexistent.

 

[dummyrun]

http://www.crainsnewyork.com/articl...lestate&utm_campaign=cnyb-realestate-20180418

the other proposal for the site a lot more boring than the NYCFC Stadium.

Why's this coming out today? Did L+M think the stadium publicity posed a threat or did a Crain's reporter get the bright idea to ask ESD to just hand over everything they've got? Either way, seems like whoever planted the YIMBY article accomplished their goal of stirring up shit.

 

[franchise646]

Can we please get off this page ASAP. K thanks.

Working on it.

Are you kidding? That would be *awesome*!

https://www.cafepress.com/+csx-freight-train+t-shirts

would give a new meaning behind our Goal Horn.

 

[Ulrich]

Our traffic from google has increased 60% for the period of April 14th-17th over previous week. 45% of those users are new to the forums. People are searching for the team that haven’t before.

You should start paying a bunch of us some serious Dan Bucks for providing expert analysis. Also maybe include a way to redeem them for something semi tangible.

 

[franchise646]

Why's this coming out today? Did L+M think the stadium publicity posed a threat or did a Crain's reporter get the bright idea to ask ESD to just hand over everything they've got? Either way, seems like whoever planted the YIMBY article accomplished their goal of stirring up shit.

That is part of the reason I think they really want this site.

 

[dannd23]

Also maybe include a way to redeem them for something semi tangible.

Yeah, like a Mix or Poku emblem under our user name

 

[Ulrich]

Yeah, like a Mix or Poku emblem under our user name

I’ll take a Lewis emblem. I have a soft spot for unwanted strays.

 

[FredMertz]

Another thing. NYCFC is paying$500k per year for rent if you believe the article. They are going to pay for capital improvements that increase the value of the land. They will not be paid back.

I have no clue what the value of that land is but let's say it's $100 million. $500k Worth of rent plus $700 million of spending plus a new medical facility plus affordable housing plus a new park plus an entertainment hub is an incredible return for that neighborhood.

The state and the city can have all these things at a fair price for what I guess is many partners.

If everyone's threshold is that you think the state wins as long as the return is something greater than a vacant lot, then we'll agree to disagree and I hope to one day soon across a negotiating table with you to discuss something of yours of value.

 

[Ulrich]

http://www.crainsnewyork.com/articl...lestate&utm_campaign=cnyb-realestate-20180418

the other proposal for the site a lot more boring than the NYCFC Stadium.

That other proposal should be axed on the grounds that they’re not taking the photo-rendering mashup seriously. Their image is a total piece of crap that looks about as advanced as something I did in school nearly 25 years ago. If the final construct typically is a value-engineered version of the best mashup image, then those 7 buildings are gonna end up being vanilla cookie-cutter imitations of each other.

I’m halfway being serious, but I don’t value a proposal that half-asses an important visual aid who’s sole purpose is to wow the beholder. Put me in the camp of Skeptical that the bid is even close to being fleshed-out.

 

[Kjbert]

The state and the city can have all these things at a fair price for what I guess is many partners.

If everyone's threshold is that you think the state wins as long as the return is something greater than a vacant lot, then we'll agree to disagree and I hope to one day soon across a negotiating table with you to discuss something of yours of value.

Timeout. Your argument is that the state or city are getting the shaft. We've asked you to give us an idea of what would be "fair." You've yet to provide an answer to a reasonable question.

Your contention is that this isn't a good deal for the taxpayer. What would be a good deal? What if only two parties bid on the land? The state has owned it since 1982. 36 years.

 

[FredMertz]

Timeout. Your argument is that the state or city are getting the shaft. We've asked you to give us an idea of what would be "fair." You've yet to provide an answer to a reasonable question.

Your contention is that this isn't a good deal for the taxpayer. What would be a good deal? What if only two parties bid on the land? The state has owned it since 1982. 36 years.

My limited knowledge of NY real estate suggests that 12.5 acres of waterfront real estate, adjacent to a parcel being developed with hi-density housing, is likely worth more than a $500,000 annuity.

You again sees to be adding me for a fully developed alternative proposal with revenue projections, which is ridiculous.

How about this: giving the land away and making it subject to full freight (no pun intended) taxation would appear to be a much better deal than the one currently proposed.

Selling it at a market price, maintaining the right of way for the rail Yards and collecting full freight taxes even better.

 

[Kjbert]

My limited knowledge of NY real estate suggests that 12.5 acres of waterfront real estate, adjacent to a parcel being developed with hi-density housing, is likely worth more than a $500,000 annuity.

You again sees to be adding me for a fully developed alternative proposal with revenue projections, which is ridiculous.

How about this: giving the land away and making it subject to full freight (no pun intended) taxation would appear to be a much better deal than the one currently proposed.

Selling it at a market price, maintaining the right of way for the rail Yards and collecting full freight taxes even better.

Your premise is faulty though. The state doesn't want to sell the land.

So let's deal in the reality of the situation. Your dream world doesn't exist. If you don't like it, then call the Governor. They want the land still.

 

[Kjbert]

Edit

I'm trying to figure this out on my financial calculator.$5000,000 a year for 99 years at 2.5% present value is? I think it's about $18.5 million.

So NYCFC would spend $100 million to make their plot of land usable. Then the present value of their rent is $18.5 million.

How big is the plot of land the stadium would be on?

 

[ALBNYfan]

My limited knowledge of NY real estate suggests that 12.5 acres of waterfront real estate, adjacent to a parcel being developed with hi-density housing, is likely worth more than a $500,000 annuity.

The $500,000 annuity is not the only thing the state is getting.. You need to take into account all the capital improvements the developers are doing. If the state paid for all those capital improvements, then yes that annuity would be far from adequate and the state would be getting screwed.

 

[mgarbowski]

Edit

I'm trying to figure this out on my financial calculator.$5000,000 a year for 99 years at 2.5% present value is? I think it's about $18.5 million.

So NYCFC would spend $100 million to make their plot of land usable. Then the present value of their rent is $18.5 million.

How big is the plot of land the stadium would be on?

I think you have an extra 0.
NPV of $500k for 99 years at 2.5% = $18.3 million