CitiStorage Site for Sale

Assessing the City’s $100,000,000 Offer by Valuing the CitiStorage Property Based on Recent Industrial Property Sales in Brooklyn & Queens

Friends of Bushwick Inlet Park and the Open Space Alliance for North Brooklyn have taken a close look at the recent heavy industrial real estate market in Brooklyn and Queens to see how the City’s $100,000,000 offer for the CitiStorage property stacks up. The analysis below reveals that the City’s offer is close to the […]

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Where's Our Park - Norm Brodsky - CitiStorage Site

About the “Value” of the CitiStorage Property

Adam D. Perlmutter Open Space Alliance for North Brooklyn June 18, 2016 There has been a lot of discussion both here and elsewhere about the “value” of the CitiStorage property. Most think that Brodsky should be happy with realizing an almost 2100% return and take the City’s offer. A few think that he should get […]

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Jens Rasmussen

What the CitiStorage Property is Worth and Why No One In Their Right Mind Will Overpay for It

Press Release from Friends of Bushwick Inlet Park June 9, 2016 Download A recent press report noted that the “leading” estimate of the value of the CitiStorage property is $77-92 million dollars. The City just offered the owner Norman Brosdky $100,000,000 to turn it into parkland. Brodsky has not publicly indicated that he will accept […]

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