Friday, November 19, 2010

Hudson/Related Companies One Of The Two Master Leaseholder Bidders To Take Over Roosevelt Island Main Street Retail Stores - Is Capitalism Finally Finding It's Way To Roosevelt Island

 RIOC President LeslieTorres (left) & RIOC Director Jonathan Kalkin (center) at Real Estate Committee Meeting (public in background)

Updating earlier post on Roosevelt Island Operating Corp (RIOC) Real Estate Committee Meeting held last Wednesday regarding Main Street Master Leaseholder RFP, I have confirmed that Hudson/Related Companies, developers of the Southtown Riverwalk buildings, are one of the two bidders. David Kramer of the Hudson Companies informed me that the Hudson/Related team has made a bid but declined to reveal specific details, leaving that up to RIOC to decide how and when to make the information public.

It is impossible to make any judgements about the proposed Main Street Master leaseholder without knowing the specific details of any of the bids and who the second bidder is (some members of the public attending the meeting speculated that the second bidder was the Rivercross Co-op, though not confirmed), but it is great news that an experienced and well qualified private sector real estate organization such as Hudson/Related has decided to participate in the process and may eventually take over the Main Street retail corridor from RIOC (a NY State Public Benefit Corporation) which does not have the expertise to be in the retail management business.

The Hudson/Related team did a great job in bringing quality retail services to Roosevelt Island's Riverwalk Commons area with national chain brands Starbucks and Duane Reade as well as local stores such as the Riverwalk Bar & Grill, Nonno's Focacceria and Fuji East Japanese Restaurant.

View Larger Map

It is exciting to think that Hudson/Related, or some other private sector developer might be able to similarly revitalize Roosevelt Island's current Soviet era looking Main Street. Stay tuned - slowly, but surely, Capitalism and the 21st Century are finding their way to Roosevelt Island.

Main Street Image Of Roosevelt Island Is The Village From Glark


Anonymous said...

Yeah... we'll see how this shakes out. I personally think it'll be such a waste of money to hire a middle man just to get the store fronts rented out.

Anonymous said...

I think it's exciting. Related/Hudson did a good job with the commons. I think they would be good to bring business to main street.
We could use another bank, dinner, clothing store, home good store, etc.
I'm sure Related is also very interesting in the south hospital location as well. I would love to see a theater venue there that would bring city people over here to spend their money.

Anonymous said...

Waste of money how? RIOC isn't paying anyone to take over ... they're leasing the space to someone who will in turn sublease it to businesses. The winner of the RFP makes money by marking up the subleases.

It's a BRILLIANT idea. Hopefully the new tenants are allowed to "personalize" the windows along the east side of Main Street, to break up the drab brutalist monotony.

Anonymous said...

Liquor store!??!?!

Anonymous said...

Liquor store,
Flower Shop,
Meat / Fish Store &

Anonymous said...

2. Liquor store
3. Trader Joe's to replace Gristedes

Anonymous said...

TJ's is a bad idea for replacing Gristedes. It would be a great addition to some more general grocery store that offers generic and brand items. But stand-alone it will not be able to cover all your grocery and household needs.

Anonymous said...

I agree that Trader Joe's won't work here, but a similar smaller store that sells Gluten-Free and Organic products would be a pleasant and healthy addition to the Island.

Anonymous said...

Bakery (like Hot & Crusty)

ANYTHING to replace Gristedes (Associated, for example)

Flower shop

Fish store

Korean Deli

Anonymous said...

Spanish restaurant or even take out would be nice to have here as well. Why not all of the suggestions posted here. Lord knows, there are enough vacant storefronts to house them all.

Anonymous said...

"may eventually take over the Main Street retail corridor from RIOC (a NY State Public Benefit Corporation) which does not have the expertise to be in the retail management business."

In the eleven years I've lived on the Island, with few, very few, exceptions, I haven't seen RIOC demonstrate expertise in anything except making lots of money (salary) for so little.

Anonymous said...

Oh that's right, beautification projects like a new Turf Soccer Field with lights don't cost anything.

A new tram was given to RIOC for Free.

New Z-bricks throughout the island are donated.

Fixing the AVAC system is done by volunteers.

The new parks were are being built by Santa's Elves.

Stuff costs money people. Fools like the poster above that think RIOC doesn't do anything should move to another neighborhood. Then you'll see what kind of Services you get.

Thanksgiving is a time to be thankful. Be thankful your spoiled behinds live in a low crime neighborhood that gets more and more beautiful every day.

Anonymous said...

I'm the "poster above" and being a retired proctologist certainly has it's advantages; being able to recognize one, and you, sir or madam, is certainly one if you think RI is "more beautiful."

Anonymous said...

Very exciting news!! we definitely need a bakery, something like whole food will great. Fish and meat store. You have to understand that people spend more money on foods than anything else and we don't have any of that on RI. Gristedes has no competition.
We need a liquor store, flower shop. I drive every weekend to do my food shopping in Queens and Manhattan but what about people who don't have a car. The deli, the newspaper place, the clothing store, the Chinese and Trelis restaurants and the tax office must go for being so filthy.

Unknown said...

How does one contact this company to get info on renting a storefront?

Anonymous said...

James, probably a truck full of money. They will market the rent like manhattan for sure.

Anonymous said...

I think RI retail will be a goldmine for the lucky ones getting space on Main Street. The rents will reflect that and since most of those monies will go back to the RIOC it's a very good thing.