RIOC Issues RFP For Assistance In Negotiating Ground Lease Extensions For Several Roosevelt Island Buildings - Who's Interested?
Reported previously on Mitchell Lama privatization/affordability plan and ground lease extension issues for Roosevelt Island Rivercross, Island House and Westview buildings.
Last April 25, the Roosevelt Island Operating Corp (RIOC) Real Estate Committee met in Executive Session to discuss Island House issues as well as ground lease modification for the yet to be built Southtown Buildings 7-9 by Hudson Related.
On May 8, RIOC issued a Request For Proposals (RFP) seeking a real estate consultant to assist in negotiating ground lease agreements for several building. According to the RFP:
The Roosevelt Island Operating Corporation (“RIOC”), a NYS Public Benefit Corporation, was established to develop and maintain the 147 acre Roosevelt Island located between Manhattan and Queens along the East River. The Island was leased from the City of New York by RIOC under a 99 year lease terminating in 2068. RIOC seeks to engage a real estate consultant to assist in the negotiation of ground lease extensions for several island buildings....The due date for submissions to the RFP for interested real estate firms is May 29. Full RFP is here.
... The contract will be for a one year with an option for RIOC to renew for an additional two years...
In December 2009, the RIOC Board had previously approved the hiring of Jones Lang LaSalle to advise RIOC on Rivercross, Island House and Westview negotiations. Who will be next, Jones Lang again or someone else?
27 comments :
Just remeber what the eastwood building committee did to eastwood. They should be put in jail
What does this mean- Westview, my building complex was just applied by the principal owner, David Hirschhorn to be taken out of the Mitchell Lama system on 5/10/12. There may be ongoing negotiations between the WTI- "Westview Task Force" and the owner for Privitization. There is also Major Illegal Warehousing still going on.. Current tenants are not being allowed to transfer after being on the internal transfer list for years.. This is illegal under the Mitchell Lama Program. Westview still remains in the M/L Program. Many tenants are complaining to the WTI and RY Management on this issue.
Very concerned resident.
Again. Remember eastwood.there are a few people now living in westview who were forced to move out of eastwood.because of the under handed deal done by those sellouts on the ebc.so keep your eyes open. Something I wish I would have done.I though that the ebc would get all tenants a fair deal. But they made sure they got a fair and good deal for themselves
Having not read the leases and whether they require renewal (or the underlying financing and whether it would stick to the building if the current lease were terminated), one wonders if it would be cheaper for the occupants of these buildings to band together and offer RIOC a better price for the lease.
You are so right about the eastwood building comm. As I was forced to move after living in eastwood for over 20 years.my apatment was put into market rent while I am not on a fixed income like most of the tenants who were put.
into sec 8 .so these people did not care about having a market rent apartment. Because their in come is not changing.so as my income went up so did my rent. Then I. Was at the market rent and that's when I had to move.go. to hell. All of you who were in the ebc
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