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April 8, 2005

$24M arena jackpot

From the Brooklyn Papers:

Shaya Boymelgreen, who had been moving forward recently with plans to develop a hotel that would have potentially thrown a monkey-wrench into Ratner’s plan, abruptly agreed last Thursday to sell his properties at 800 Pacific St. and 546 Vanderbilt Ave. to Ratner for $44 million. Boymelgreen had purchased the property in August for $20 million.
Daniel Goldstein, a spokesman for the anti-Ratner arena group Develop—Don’t Destroy Brooklyn, who lives in a condominium within the footprint of the site, said Boymelgreen’s sale of the property to Ratner would not deter the group’s mission.

“We still intend to show the public that [Ratner’s] got a sweetheart deal from the city and the state,” Goldstein said.

Posted by amy at April 8, 2005 10:51 PM