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?
