In the News: Politicians Push Back on P.S. 150 Move

••• “City Council member Margaret Chin and Manhattan Borough President Gale Brewer are pushing back against a plan to close P.S. 150, a highly regarded local school also known as the Tribeca Learning Center.” —Broadsheet

••• There was a groundbreaking ceremony for Pier 26; construction is slated to take two years. —Tribeca Trib

••• “The Chinese owners of 28 Liberty are putting it on the block for an expected $1.6 billion. […] Fosun bought the former One Chase Manhattan Plaza from JPMorgan Chase in 2013 for $725 million [….] It has since brought in Danny Meyer’s restaurants for the top and numerous other tenants to fill the offices being vacated by the bank. It also obtained Landmarks approvals to rework the formerly barren public plaza and bring in an Alamo Drafthouse. However, there are still 200,000 square feet to lease.” I haven’t been following the transformation of 28 Liberty especially closely, but I believe most of the LPC approvals were for changes to the street level, to create more retail; calling the plaza seems a stretch. UPDATE: The article “actually says they only re-valued the property at $1.6 so that they can take on a financial partner while still holding majority control,” notes Lowphat. —New York Post

••• From a Wall Street Journal about how newsstands don’t carry newspapers anymore: “JCDecaux Group […] currently pays the city $56 million a year for the right to sell ads on nearly every newsstand, along with the city’s 3,500 bus stops and six pay toilets. Under the terms of a 20-year deal, which JCDecaux inherited after acquiring a smaller advertising outfit in 2014, the company is also responsible for building and maintaining all the street furniture. Any profits are split 50/50 with the city. Alas, the company says it’s losing money on the deal. While it’s responsible for street furniture in all five boroughs, it’s hard to sell advertising outside of Manhattan below 96th Street—an area that generates 70% of the revenue. In an effort to at least break even, JCDecaux says it may ask the city for permission to install cellphone service boosters in the newsstands, which would add an additional revenue stream.”



  1. here we go with Stella Management again. There selfishness is unprecedented! The big landlord will win again and buy all the politicians! You watch!

  2. re: the article about 28 Liberty. It actually says they only re-valued the property at $1.6 so that they can take on a financial partner while still holding majority control.