Greenpoint Fire Smokes Chase Lease in Dumbo

Friday, May 12, 2006, by Robert

Not to beat the Dumbo drum too loudly today, but Chase Bank has bolted from a deal to lease space at 68 Jay Street, one of the many buildings in the neighborhood belonging to flambéed Greenpoint Terminal Market owner Josh Guttman. Coincidence? Not according to the Brooklyn Paper, which says Chase pulled out of lease negotiations after reports of suspicious fires at four Guttman properties. (Small, but amusing, irony of the day: part of 68 Jay used to be used for smoking tea.) With the Greenpoint warehouse itself smoked, Chase apparently decided to hose down the pending lease. Says the broker: "Let's just say [other spaces] are more desirable right now."

Not desirable? 68 Jay is the neighbor of the 33-story J Condo. A large second-floor space on the Front Street side is being turned into The Retreat with a cafe and performance space slated to open this month, and a Mediterranean restaurant and food tasting market that will go live during the summer. Various fire gods willing.
· After big fire, Chase backs out [Bklyn Paper]
· Builder's Smoky Trail: 4 Strange Blazes in His Past [NY Post]
· J Condo: Selling on Time? [Curbed]

Filed under Brooklyn, Brooklyn: Dumbo, Neighborhood Reports,

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Comments (10 extant)

Good for Chase. Let's just say it's their business to understand risk.

By wb at May 12, 2006 2:10 PM

Perhaps it was the widely-reported stories of Guttman's men allegedly dumping concrete on a resident's bed or removing the walls of a commercial tenant's unit that clued them into the bad idea of renting from Guttman. I hear that kind of stuff can really put a crimp in conducting one's banking.

By thfs at May 12, 2006 2:42 PM

Bolted Dumbo? Chase is signed a lease for the ground floor commercial space at J Condo at 100 Jay Street.

By Anonymous at May 13, 2006 8:58 PM

Chase at Jay Condo? Imagine that.

Living in the East Village I can attest to Chase moving in to new construction where we would all like to see something else (monstrosity at ASTOR place with a huge CHASE installation -- I suppose we have all of the head-shops and tatto parlors that are necessary but I was hoping for a Whole-Foods or something good). Of course a new bank in DUMBO may be nice, but does a CHASE really contribute to an area? In this age of internet banking and no need for tellers -- personally I haven't spoken to one in ten years -- do we really need a bank taking up space? I suppose it makes sense for them somehow or else they wouldn't do it but wouldn't it be better to have a drugstore or a bistro or a -- anything?

Banks to me equal wasted space. DUMBO should be working on something more unique, not trying to meet the status-quo of most ATMs in NYC.

Just my 2c.

By A few good mice at May 14, 2006 12:26 AM

There are no water towers on the roof of 68 Jay St. So if an arsonist was going to light that place up it would be vunerable to the destruction demonstrated by the other Gutterman Buildings. Why can't the city stop this monster from lighting up buildings then profiting from it. It's another example of being caught in the "claws of the Jew".

By Borat at May 14, 2006 10:43 AM

If Chase takes space in J Condo, I really hope it's on the the Jay st side. The space on Front st will be a prime spot that will sort of help define the building's character (i.e. like the Astor building).

Also... there'a a new dry cleaners in 68 Jay st next to the Retreat cafe. I think this is another waste of prime space (there's another dry cleaning place just two blocks up). Not really complaining... I'm just sayin'...

By Anonymous at May 14, 2006 11:20 AM

Waste of "prime" space? Har har har. It's not like dry cleaner #2 has outbid dozens of bistros and drugstores to set up shop there. Newsflash: DUMBO is still a scary place for business. Most of the "amenities" you keep boasting about are heavily subsidized by your de-facto mayor, David Walentas. Otherwise, they wouldn't be there.

By Anonymous at May 15, 2006 12:35 AM

The neighborhood needs more businesses with some money behind them that will be in for the long haul. Chase can help provide some stability in the neighborhood.

By Anonymous at May 15, 2006 10:05 AM

i think chase bank took the space on the front street side. not the corner, but the space closer to super fine

By Anonymous at May 15, 2006 10:43 AM

10.

> It's another example of being caught in
> the "claws of the Jew".

Good to know we can find a bigot around when we need one.

Good think the "Claws of Christ" are busy molesting boys that they don't have time to start Inquisitions or Crusades and burn a few Jews at the stake.

By Eddie Wilson at October 6, 2006 4:02 PM