View Full Version : (Charles) WANG'S WORLD

March 8th, 2007, 01:46 AM
Wang changes direction of building plans

March 7, 2007

The day after Charles Wang stunned the Plainview-Old Bethpage community by abandoning a massive mixed-use project because of intense opposition, the developer insisted he is now only interested in building two office buildings and single-family homes allowed by existing zoning.

Asked in an interview at his office on the Plainview site whether he'd he might try to reach a compromise with the Town of Oyster Bay and community for a smaller version of his Old Plainview development, Wang said "No, we're done.

"We've had seven years of talking about it," he said. "It's obvious what they want, and we're going to go ahead and build it."

Wang also said he wasn't interested in selling the 166- acre site to the town, county or state for open space, as civic groups have suggested.

At the beginning of an evening hearing Tuesday on the largest project on the drawing board in Nassau County, the developer told about 400 residents who opposed the project that they had made their point and he was withdrawing his application with partner Scott Rechler for housing, a hotel, retail space, office space; a cultural center and clubhouses.

Instead, he said he would push for immediate construction of two office buildings totaling 650,000 square feet and about 45 single-family homes on one-acre lots. At least 40 acres would be used for recreation and open space.

Carol Meschkow, president of the Concerned Citizens of the Plainview-Old Bethpage Community, who led the coalition fighting the project, said she'd like to see all or some of the property preserved and any building done within the existing zoning.

"This is the largest and last major remaining tract of nearly pristine land in Nassau County," she said Wednesday. Because of the lower density of development, she said following the existing zoning is "far more favorable" in terms of traffic and impact on the schools.

Town Supervisor John Venditto said, "If there was a lesson for the developer -- and other developers -- it was that community input is a very significant component in any zoning application."

Wang responded that he had worked with the town and community for years.

Venditto said the town was open to alternatives if Wang wanted to reach a consensus with the community on a smaller mixed-use project, or to build what the zoning allows. As for acquiring most or all of the property for open space, Venditto said "it's a tall order, but it's worth pursuing."

Judy Jacobs, presiding officer of the Nassau Legislature who represents the area, said she was "a little disappointed to think they are going to drop that idea of smart growth. I think there is a meeting ground."

Wang, however, said Wednesday that he wasn't interested in prolonging a situation where he would "be splitting apart neighbor against neighbor."

Wang said he and Rechler began to rethink the wisdom of proceeding after the morning session of the hearing Tuesday, where almost all of the comments were negative. He added that "it was pretty obvious" that the town board also did not support the project. Venditto, however, said "It's a mistake trying to read the mind of town board members by reading their facial expressions."

"I said 'What we don't need is another Cerro Wire circus in town," referring to a protracted battle over plans for a shopping mall at that Syosset site.

Wang said the final decision was made just before the beginning of the evening hearing at the suggestion of Rechler, who has developed a lot of office space. "He said, 'Economically, it's fine [to scrap the original project].' Scott had said earlier, 'Why are we fighting this thing?' And I agreed with him absolutely."

As for the revised project, Wang said, "We have done some drawings and other things already," so plans could be presented to the town "very quickly, probably in just two months."

Rechler said that while changing plans for the southern part of the property, the partners would continue to pursue the original proposals for the 21 acres on the north side of Old Country Road, which includes luxury rental apartments and a shopping center.

Elizabeth Moore contributed to this story.


March 8th, 2007, 06:20 AM
Be careful what you wish for...

March 8th, 2007, 08:06 AM
Be careful what you wish for...

:confused: To which players are you refering? There are the Concerned Citizens of the Plainview-Old Bethpage Community who are against it, the minority of locals who are for it, Wang, Rechler, Town Supervisor John Venditto, Judy "Troublemaker" Jacobs, so many more...

March 8th, 2007, 08:10 AM
Wang's World

Despite pulling back from the Old Plainview development, Charles Wang remains involved in a number of development projects and professional sports endeavors:

NASSAU HUB: Wang and RexCorp Realty chief executive Scott Rechler, also Wang's partner in the Old Plainview project, propose to redevelop the 77-acre Nassau Coliseum site in Uniondale.

OYSTER BAY: Wang owns 87 properties in the hamlet, including apartment buildings, Buckingham's Variety Store, the Commander Oil terminal, the building where Teddy Roosevelt became a Mason and the marina where Cablevision chairman Charles Dolan keeps his yacht.

MARINER'S WALK: Twenty-eight luxury town houses under construction in Oyster Bay.

NEW YORK ISLANDERS (National Hockey League), owner

NEW YORK DRAGONS (Arena Football League), owner

Compiled by Carl MacGowan, Newsday
March 8, 2007


March 27th, 2007, 03:12 PM
Wang still having tough times in real estate


March 26, 2007, 10:11 PM EDT

Charles Wang may have had a golden touch as a software developer, but his subsequent career as a real estate developer has been more problematic.

The founder of Computer Associates had to revamp his Nassau Coliseum redevelopment to remove a controversial "lighthouse" tower and this month he abandoned his Old Plainview project because of opposition.

Now he's had some trouble with his Mariner's Walk complex in Oyster Bay.

The 28 town houses under construction have been for sale for more than a year, but only two buyers have signed contracts. And after protracted wrangling with the first buyer over changes to the project, Wang's real estate company agreed last week to refund his $86,000 deposit after Newsday inquired about the dispute.

Accountant Andrew Brint, 40, signed an $869,030 contract last March for a two-bedroom unit because he works in Hicksville and was tired of commuting from a Manhattan condo.

"I liked that there was a very restrictive leasing policy; you won't have someone purchasing five units and renting them all out."

But before he closed, Wang's company, Renaissance Property Associates, amended the regulations. Brint opposes two of the changes: eliminating most of the renting restrictions and reducing the allowable size of dogs.

Brint said he was never formally notified of the amendment, though he and his father, Roland, who served as his attorney, said state law requires it. Because of the changes, Brint asked for his deposit back -- which he and his father contend is allowed by law.

Brint said Wang's staff contended they were not required to notify him because the changes were not "material" -- even though the language of the amendment categorizes them that way.

Renaissance contended Britt wanted out because the price of the units had dropped as a result of slow sales after he made his deal. The company offered to refund $75,000 of the purchase price, which would have more than made up for the lower value of Brint's investment. But he said, "I told them 'It's not about the money. It's not where I want to live anymore because of the amendments.' Someone could just rent forever." Brint is dating a woman who has a collie over the size limit.

A Renaissance lawyer wrote Brint in January that he would be in default and would lose his deposit if he did not complete the sale. Then last week the company, to end the acrimony, agreed to refund the money. "We felt that in the long run it was not to the benefit of our organization or Andrew to go forward," Renaissance CEO Michael Picker said.

Brint said an official in the attorney general's office told him he had the right to rescind his purchase. But Benjamin Weinstock, an attorney with Ruskin, Moscou, Faltischekis in Uniondale who teaches real estate law at Hofstra University, said the agency has ruled in the past that the purchase can be voided only when there is a change that affects the buyer financially.

Weinstock noted, however, that Renaissance's failure to notify him of the amendments would probably have spurred the state to order a refund, had Brint filed a complaint.

Copyright 2007 Newsday Inc.


March 27th, 2007, 03:16 PM

Besides owning the New York Islanders and the New York Dragons, Charles Wang is an active real estate developer.

OYSTER BAY: In addition to the 28-unit Mariner's Walk luxury town house complex under construction in Oyster Bay hamlet, where two units are under contract but one sale is being voided, Wang owns 87 properties in the hamlet.

PLAINVIEW: Wang earlier this month cancelled his proposed mixed-use Old Plainview project because of community opposition. He said he and partner Scott Rechler, the RexCorp Realty chief executive, will build the two office buildings and about 45 single-family homes permitted by zoning.

NASSAU HUB: Wang and Rechler have been selected to redevelop the 77-acre Nassau Coliseum site after Wang's earlier proposal was withdrawn following widespread criticism.

Copyright 2007 Newsday Inc.

April 23rd, 2007, 05:41 AM
As a POB resident and recent graduate, I must say we more than don't need the traffic and school crowding that would come from Old Plainview as originally planned. Traffic is already nuts, POBCSD recently redistricted the middle schools and elementary schools and opened a 4th elementary school due to overcrowding, and there is not enough room to get around in the recently-expanded high school. Single-family homes and office buildings as well as the planned open land and recereation space is much more in the best interests of the current residents of the POB community. We DON'T in any way need "clubhouses" (whatever that may be), "cultural centers," and shopping centers, and we already have at least 4 hotels that I can think of.

Plus, could it get any more confusing?? Old Plainview would be in Plainview, which is the same community as Old Bethpage, all of which is next to Bethpage. Seriously, they should've thought up a better name for the development.

Also...didn't this thread start because someone was looking for townhouse listings? How did it turn into a Charles Wang discussion??