In the News: Two legacy storefronts could close in BPC

TWO STOREFRONTS TO CLOSE IN BPC?
The Broadsheet reports that two storefronts on South End Avenue might be in danger of closing — they spotted a listing for the spaces on the Newmark Retail real estate website posted by LeFrak, the developer that manages Gateway. “Both Picasso Pizza (listed as 303 South End Avenue) and the Bulls & Bears Winery (309 South End Avenue) are nearly as old as Battery Park City itself, having debuted shortly after Gateway Plaza (the first development to be completed in the neighborhood) opened in the early 1980s. They have each survived for decades, serving successive generations of local families.”

TAXI DEBT RELIEF PROGRAM SIGNED
For those on Broadway who have witnessed the taxi driver protests over the past two years — Crain’s reports that the Adams administration finalized the debt relief program for the city’s largest medallion lender and the New York Taxi Workers Alliance to allow cab drivers to restructure their debt. More than 3,000 taxi-medallion owners buried by debt will see their loan obligations capped at $200,000 starting this month.

TRIBECA GALLERY DISTRICT FLOURISHING
Artsy has an analysis of why the Tribeca Gallery District has taken hold: residential neighbors, smaller spaces and lower rents. “This communal, grassroots atmosphere still permeates the neighborhood and appeals to the galleries that have decided to move here.”

FULTON STREET HOTEL STALLED
Crain’s reports that the hotel project at 140 Fulton is stalled due to a conflict between the lender and the developer. “Lender Bank Hapoalim is accusing developer Hidrock Properties of defaulting on its $33 million mortgage for 140 Fulton St., a 286-room project near Broadway, according to court records. But Hidrock says Hapoalim is the party in the wrong, because it’s reneged on a deal to extend the loan’s maturity date.”

 

1 Comment

  1. Oh no! Picasso has been a wonderful and very reliable resource. Their food is good, and their staff is always friendly.

Comment: