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March 13, 2009
Nets' Move to Brooklyn Still a Possibility?
RotoSynthesis
by Charleie Zegers
By the looks of that headline, "done deal" is certainly no longer the Atlantic Yards meme.
A real estate report buried in the business section of yesterday's New York Daily News has some interesting implications for several NBA teams.
The report, which seems not to be published in their online edition, says that the developer behind the proposed "Atlantic Yards" project in Brooklyn has put 15 potentially-lucrative properties in the market, in the hopes of raising cash that would go towards the new development.
If it gets built, Atlantic Yards will be a massive commercial/residential development, centered largely around a new basketball palace that would become the new home for the New Jersey Nets. But the downturn in the economy has put the future of the project in doubt.
NoLandGrab: Nothing in any reports we've seen has indicated that money raised via the sale of these Forest City assets "would go towards" Atlantic Yards.
Posted by eric at March 13, 2009 3:34 PM