Successors to Sauerbraten and Strudel on E. 86th
Wednesday, February 1, 2006, by Jeremy
The East 86th Street corridor, which provided some lively fodder (seasoned with a dash of Whole Foods gossip) for our Rumblings column last month, comes up for the Square Feet treatment in the Times. New developments at Lexington Ave. (by Extell Development Co., rendered at left) and 3rd Ave. (by Related Cos.) are spotlighted, along with the requisite owner-family squabbles and suggestions about what retail street-level denizens might get. "A major bookseller" and a handful of clothing stores are in talks. Nary an organic grocery chain in sight. Guess you'll just have to learn to appreciate the "busy doughnut shop" and "Kosher deli" while Extell tries to maneuver them out.
Meanwhile, fewer worries for the height conscious: "Neither building can go higher than 210 feet, or 20 stories." About which the president of Extell, Gary Barnett, quips: "Truth be known, it's not so easy to get magnificent architecture with 210 feet." Still, magnificent or no, starchitect Robert A. M. Stern's name is being tossed around for the Related project.
· Gentrification Arrives at a Crossroads in Yorkville [NYT]
· Rumblings & Bumblings Responses: Whole Foods for UES? [Curbed]
I work in a building owned by Extell on the East Side. They just bought this building about a year ago, and all but two of the tenants have been 'persuaded' to leave. They've already demo'd all the other floors in anticipation of converting this building into luxury condos. I think they're keeping pressure on my company to leave as well, we still have 3 years left on our lease. We'll see what happens.
Stick it out. Make Extell pay. They will rather pay you now to leave than risk missing the market in three years. You have leverage. Use it.
OH believe me, we're having fun with the owners. Without giving out to many details, there IS pending litigation AND our company is fairly knowledgeable with the NYC Building Department due to the line of work we do. "Hello...311? Yes I'd like to report..."
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