In the News: The Shinola Building Is for Sale

••• Bedrock, which owns Shinola and 177 Franklin, has put the building on the market for $23 million: “The building is currently used in its entirety as retail and office space but can be easily converted into condominiums or a single-family house. Owner Shinola will also consider other options, including a lease-back transaction to a future ownership or vacating the property upon its sale.” Shinola poured a lot of money into that store, but subsequent stores—such as the one on Prince Street—have been in areas with much higher foot traffic; many are in shopping malls. —Citybizlist

••• “Addressing a business group in Lower Manhattan on Thursday, Gov. Andrew Cuomo crowed that the new state budget not only obligates the city to cough up $400 million to fix the subways—which he called ‘a beautiful idea’—but also $50 million for Hudson River Park, an unfinished joint venture between the state and city. […] ‘The gift we are going to give you, Mr. Mayor [Dinkins], is we are going to finish it,’ the governor said to applause, as he noted the park’s original planned completion date was in 2003. ‘We have a final plan, it requires an additional $100 million. The state budget passed has $50 million from the state and mandates that the city pays $50 million.’ […] The state budget bill gives the city no choice, but the mayor’s spokeswoman said the administration was ‘fully engaged’ in negotiations on the matter. […] Maintenance-of-effort clauses dating back to the creation of the park require the state’s contributions to be matched by the city, an insider said.” Note: None of this should affect Pier 26, where the Hudson River Park Trust has said that funding is already in place. —Crain’s

••• “The cradle of Methodism in America, the John Street Methodist Church was the scene of unholy, violent infighting among its congregants in 1856.” —Daytonian in Manhattan

••• A CityRealty post says that there will be 10 apartments at 287 Broadway. It’s otherwise news-free, but it does have some nice old photos of the building, taken from the Landmarks Preservation Commission.

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