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Seen & Heard: Taste of Tribeca Is May 19
••• This year’s Taste of Tribeca is on May 19. Calendar it!
••• Italian cosmetics brand Kiko Milano closed its store at the Westfield World Trade Center mall. There’s a lot of competition on that lower concourse: MAC, Caudalie, Sephora, Aesop, and Philosophy.
••• The Noodle Bar at Brushstroke is now open for lunch on Fridays and Saturdays.
••• The TV show “Quantico” will be in the N. Moore/W. Broadway area on Sunday. Here’s legislation I’d like to see Margaret Chin get behind: No shoots on Sundays.
••• The Jackie Robinson Moneypit put up new signage that says it’s opening in 2019.
••• The retail space at 371 Broadway (in the 5 Franklin Place building) is being used by Common Trde [sic], a private showroom that pops up during fashion weeks.
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Shame so many stores have already closed shop at the Trade Center. Luckily some have been quickly replaced by more typical retailer and others (Market Lane for example) are almost 2 years delayed already. Wonder what the vacancy rate at the mall is at. Still seems like its always bustling regardless.
Re: Jackie Robinson – I wonder how much they have squandered in rent waiting for this (alleged) open. I recall it was “coming soon” way back in 2004? when they first leased the space.
I hope this year is really happening
They have probably squandered $4-5 million in rent on the empty museum space.
As of February 2013:
“The museum was first slated to open on the ground floor of One Hudson Square in lower Manhattan in 2010.
“Instead, its founders are paying $500,000 a year to rent a shell where the 11,000-square-foot exhibition is supposed to be. […]
” roughly $6.9 million […] has gone to rent since 2007, when the nonprofit signed a 20-year lease with Trinity Real Estate.
“Tax documents reveal the nonprofit spends about $1.3 million annually to rent the vacant first floor and a second-floor space housing the foundation offices. That’s more than the $1.2 million it gave out in scholarships in 2011.
“More than a third of that rent expense — $546,000 per year in 2011 and 2012 — goes just to pay for the empty museum space. All told, the group has spent at least $2.1 million since 2007 on space it has never utilized.”
https://nypost.com/2013/02/17/tribeca-jackie-robinson-museum-is-long-overdue-and-may-never-open-due-to-rent-costs/amp/
“In fiscal 2014, the total tab was $588,280. (Some of the costs are offset by occasionally renting out the space. For instance, Nike used it during NBA All-Star Weekend.)”
http://nymag.com/daily/intelligencer/2015/04/jackie-robinson-museum-now-5-years-late-to-open.html
Apparently Fiscal Year 2013 (7/1/12-6/30/13) museum rent (what the audited financial report calls “the Foundation’s occupancy costs […] related to museum development costs”) was $586,264; FY ’15 was $635,586; FY ’16 was $667,882; and FY ’17 was $694,905.
From the FY’15 audited financial report available at jackierobinson.org:
“Lease
On February 20, 2007, the Foundation entered into a non-cancellable lease agreement for its administrative offices and to provide space for a museum and education center. The lease contains provisions for future rent increases and rent-free
periods, during which times rent payments are abated. The period of this lease is from May 1, 2007 through April 30, 2027 […]
“At June 30, 2015, minimum lease rental payments under the non-cancellable operating lease for the rental of office and museum space are as follows:
Year Amount
2016 $ 1,187,637
2017 1,201,177
2018 1,268,879
2019 1,268,879
2020 1,268,879
Thereafter 9,184,589 […]
“During fiscal years 2015 and 2014, the Foundation’s occupancy costs were $1,590,017 and $1,509,853, respectively, of which $635,586 and $588,280, respectively, were related to museum development costs.”
“Common Trde” = ?
Common Tirade?
What’s with all the missing vowels?
Have they gone up in price?