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Thread: 34 Leonard Street

  1. #16

    Default Busters

    I heard that Busters closed for good on Sunday. I assume that means they must be getting to work on this project. Two questions: does anyone have an update on what they are building? and more importantly, does anyone have ANY idea if they are relocating Busters (there are rumors ranging from around the corner to down near battery park city)?

  2. #17

    Default

    Buster's Garage finally demolished.


  3. #18

    Default

    The parking lot just south of Busters needs to go also, and something must be done with the horrible yellow and orange power sub-station (or whatever it is) across the street.

  4. #19

    Unhappy

    Quote Originally Posted by ZippyTheChimp View Post
    Buster's Garage finally demolished.

    May it RIP

  5. #20
    Build the Tower Verre antinimby's Avatar
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    I was thinking the same thing, too.

    Buster's looked like they brought a bit of color to an otherwise pretty dreary area retail-wise.

  6. #21

    Default

    Quote Originally Posted by bigkdc View Post
    May it RIP
    Buster's Owner Gets License Nod for Big West B'Way Bar

    By Andrea Appleton
    POSTED FEB. 2, 2007

    It’s been a long time—and several foiled attempts—in coming, but Ross Provenzano may finally get his liquor license. The owner of the former Buster’s Garage, at 180 West Broadway, ignited controversy last fall when he tried to move the sports bar around the corner, onto residential Leonard Street. In its advisory vote, Community Board 1 rejected the transfer, and in November, neighbors took their complaints all the way to the State Liquor Authority, which is still reviewing the application.

    But last month, after vainly seeking CB1 support for other locations in recent months, Provenzano received near unanimous approval for a liquor license for a new 10,000 square foot bar and party space at 21 West Broadway.

    Provenzano’s team (variously known as 180 Restaurant Group LLC and 200 Water Street LLC) had come before the board for at least four separate liquor licenses in recent months, including 90 John St., 375 Broadway, and 85 South St. All were to be new establishments, and all fell by the wayside, either because of landlord difficulties or Community Board resistance, according to Eric Ness, Buster’s former general manager.

    But this time was different. “That area’s perfect for our place, especially since there’s no residential in the building or around it,” said Matthew Miluk, who has replaced Ness as Provenzano’s general manager and advocate before CB1, “so I had a pretty good feeling before the board’s decision.” Miluk said the team had made it a priority to find a non-residential area for their bar after the debacle on Leonard Street.

    Construction on the bar will start in mid-February, according to Miluk, though no name has been chosen and the license must still be approved by the State Liquor Authority. The bar will occupy the first and second floors of an office building. Each floor is 5,000 square feet,withseating for 200 people. The second floor will be rented out for parties. The bar will serve food, and Miluk says it will be affordable.
    “We’re doing something along the lines of Buster’s, another eclectic mix,” Miluk said. “But it’ll be a little more upscale, with a more corporate dynamic.”

    Anticipating controversy at the meeting last month of CB1’s Tribeca Committee, chairwoman Carole Desaram held off consideration of the 21 West Broadway application to the end. But no residents showed up to protest, and the discussion didn’t last long.

    “Who’s the nearest neighbor, do you know?” asked Desaram.
    “Nobody lives there!” a chorus of voices from the committee responded. The application was approved in all of three minutes.

    http://www.tribecatrib.com/index.html

  7. #22

    Default ^^^

    You just made my week! Sounds like they will be open for next football season...awesome!

  8. #23
    Disgruntled Optimist lofter1's Avatar
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    Google MAP shows the site of the new Buster's at 21 W. Broadway ^^^ is near the corner of Barclay.

    From: winick.com


    21 WEST BROADWAY
    Corner of Park Place & Barclay Streets
    New York, NY 10007
    Winick Realty Group LLC– Licensed Real Estate Brokers

    As exclusive agents we are pleased to offer the following retail opportunity:

    SIZE:
    Ground Floor 15,371 SF
    Second Floor 18,500 SF
    ***will consider removing slab to create 20 foot ceilings***
    FRONTAGE:
    160’ on West Broadway, 70’ on Park Place, 70’ on Barclay Street

    POSSESSION:
    Immediate

    ASKING RENTS:
    Upon Request

    COMMENTS:
    A.K.A. 100 Church Street
    ***

    Emptiest office tower draws questions Downtown

    Some think reputation of 100 Church Street owner
    has kept it mostly vacant; awaiting major fixes

    therealdeal.net
    By Alison Gregor
    May 2006


    Some think 100 Church Street
    needs better marketing, plus a
    healthy dose of repairs.

    Vacant commercial real estate can be a diamond in the rough, or an albatross.

    In Manhattan, nobody's quite sure what description best fits 100 Church Street, which has had more than 500,000 square feet of space vacant for longer than most of the 11 other buildings that share that dubious distinction.

    As of mid-April, the Class B tower near Ground Zero, which in recent years housed offices for Merrill Lynch & Co. and Bank of New York, had the most unoccupied space of any completed office building in Manhattan, according to the CoStar Group.

    The other Manhattan buildings with more square feet of space available than 100 Church Street are all under construction, proposed, or not yet ready for occupancy -- 7 World Trade Center, 400 West 33rd Street, 11 Times Square, One Bryant Park, 1095 Sixth Avenue and the new New York Times Building. The St. John's Center at 550 Washington Street has 810,000 square feet available, but it is occupied by Merrill Lynch until next year.

    But while it sits unoccupied with some 582,000 square feet of space available, some market observers say 100 Church Street may be hitting its stride.

    "As I saw 100 Church Street sitting there for years, I wondered why the building owner didn't make a greater effort to do business, but in hindsight, he's made the right decision," said Barrett Stern, a senior managing director at commercial brokerage Grubb & Ellis. "I don't think the market was there for that building two years ago. Now, I believe it will rent."

    Thomas Arbuckle, a broker with Murray Hill Properties, who was among those representing the Toy Industry Association in its recent and ultimately abortive negotiations for space at 100 Church Street, agreed.

    "I bet that space is gone in six months," he said.

    But others say that the landlord, Russian oil magnate and billionaire Tamir Sapir of Zar Realty, might be advised to do some work on the 48-year-old tower to get the asking rents that, according to CoStar, start at $25 a square foot.

    "The owner has not had a commitment or a plan to really market and lease the building," said Bruce Surry, an executive vice president at CB Richard Ellis. "He seems to have one now. But people have to have proof. They have to see -- not just be told -- that this ugly duckling is going to become a [swan]."

    Stern, who said he competed against other brokers recently to lead the marketing effort at 100 Church Street and lost out to Cushman & Wakefield, said that Sapir could see amplified returns if he refurbished the tower.

    "The building has a lot of great attributes," he said. "Look, it needs work, and I think that any well-thought-out leasing effort will include some substantial upgrades to the building. But the payback for those upgrades today will be far greater than it would have been two years ago."

    After the terrorist attacks, Merrill Lynch, which was leasing 100,000 square feet in the building, moved out, according to CoStar. The building, which is one block north of Ground Zero, was damaged and needed to be repaired and cleaned. Then the Bank of New York was told by the federal government to vacate several hundred thousand square feet of space because of security issues.

    Instead of subleasing the space, the Bank of New York decided to sell the lease at 100 Church Street back to the building's landlord.

    According to court records from the Manhattan state Supreme Court, the landlord, Merrill Lynch, and the Bank of New York, among other parties, also were entangled in litigation over a burst pipe in the building in 2003.

    Thus the 1,032,000-square-foot building went from 4.2 percent vacant in the third quarter of 2004 to 55.9 percent vacant in the final quarter, according to CoStar. That space has since remained vacant.

    According to Mitchell Konsker, an executive vice president at Cushman & Wakefield, the space was never remarketed.

    "The building's been off the market," he said. "The reason it hasn't been re-leased is the landlord was evaluating all its alternatives. They're trying to make a decision as to how to reposition the property."

    In October 2005, the Toy Industry Association announced it was leasing 400,000 square feet at 100 Church Street for use as the future home of the toy industry in North America. A month later, it cancelled its plans, citing concerns with the building's location and quality.

    While Arbuckle said in early April that a deal could still be sealed at 100 Church Street, by late April, Konsker was saying that any potential toy industry deal had been nixed. "The toy industry was looking at the property, and that deal never came to fruition," he said. "That deal is dead at 100 Church."

    While major former and current tenants in the building refused to be interviewed for this article, a handful of their employees, who declined to be identified, said that while there were no major issues, the building was "dirty" and had "crowded elevators."

    Some brokers said one of the difficulties the landlord may be having in leasing the building's space may revolve around a reputation for failing to pay brokers' commissions. Reportedly, both CB Richard Ellis and Newmark Knight Frank sued Zar Realty for nonpayment of commissions at 260-261 Madison Avenue, with CB Richard Ellis working out a settlement in early 2005.

    Newmark reached an agreement later that year involving a payment plan in which Zar would compensate the company's brokers for commissions owed, according to Manhattan state Supreme Court documents.

    "Brokers don't get paid their commissions, so why go to his buildings?" said a long-time commercial broker active in the Downtown market, who asked not to be identified. "There are a handful of landlords in this town who are radioactive -- this is one of them."

    Sapir, who did not respond to requests for an interview for this article, has been variously drawn in media portraits as a Russian immigrant and former cabbie who, in the late 1970s, invested his earnings in an electronics retail business that served Soviet higher-ups -- and cemented relationships that Sapir then converted into an opportunity to distribute Soviet oil.

    With the returns of that lucrative business, Sapir amassed 6.6 million square feet of office space in Manhattan, and counts on his tenant roster some Fortune 500 tenants. His company's holdings include 11 Madison Avenue, home to Credit Suisse First Boston and the second-priciest Manhattan building sale of 2003 when Sapir made the $675 million purchase. Other properties include 2 Broadway; 260-261 Madison Avenue; 384 Fifth Avenue; a couple of converted residential buildings; and other properties in Lower Manhattan, according to published reports.

    Sapir's ownership of 2 Broadway has generated the most controversy of all his real estate holdings so far. He bought the building from the crumbing Olympia & York empire for $20.5 million in 1995, with the property rising in value to more than $200 million four years later. Problems surrounding renovations followed a 1998 lease agreement with the MTA to move their headquarters there. Renovations were plagued by lawsuits, more than $300 million in cost overruns for what was initially a $135 million project, and criminal convictions, including the conviction of the man who oversaw Sapir's real estate empire, Frederick C. Contini. Only in late 2003 did law enforcement agents conclude both Sapir and the MTA had been "victimized" by outside parties in the ordeal.

    Sapir, with an estimated worth of $1.9 billion, is No. 410 on Forbes magazine's list of the world's billionaires. At the end of 2005, he made headlines when he purchased the Duke Semans mansion at 1009 Fifth Avenue for $40 million, a record price for a Manhattan townhouse.

    Sapir has a penchant for litigation and winds up with many stints as both plaintiff and defendant, particularly with parties in his business negotiations outside of real estate. According to Forbes magazine, he is currently seeking damages of $350 million from Moscow Oil Refinery for wrongfully voiding contracts for oil exports.

    Stern said Sapir may require more delicate handling than other landlords in New York City, but that shouldn't prevent 100 Church Street from leasing.

    "People have found him to be challenging to deal with, but in the current market, there will be those who decide to take that space, and they will get it," he said.

    Joseph Jerome of JEMB Realty, owner of 150 Broadway and 75 Broad Street, both buildings with desirable Class B space located Downtown, said he didn't know Sapir personally and hadn't heard anything about the landlord's reputation, but that he wasn't surprised that 100 Church hasn't found a lessee for its large chunk of space.

    "They had that deal with the toy industry that took the space off the market for a long time," he said. "Then it didn't happen. And as for large chunks of space Downtown, there have been a lot of them on Water Street and a big piece at the World Financial Center, so there were better buildings that have had space available. It's a B building, let's face it."

    Surry agreed, but said 100 Church Street is ripe for opportunity -- if the landlord makes the investment.

    "To achieve a new image for the building, which has a negative image in the marketplace, the owner will need to upgrade its appearance, its lobby, its systems, its elevators -- and that's a lot," he said. "If they do that, they may get a return consistent with the kind of rents they expect to achieve."

    Copyright © 2003-2007 The Real Deal

  9. #24
    Disgruntled Optimist lofter1's Avatar
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    Re: Buster's new home @ 21 West Broadway aka 100 Church St.

    ... last month, after vainly seeking CB1 support for other locations in recent months, Provenzano received near unanimous approval for a liquor license for a new 10,000 square foot bar and party space at 21 West Broadway.

    ... The bar will occupy the first and second floors of an office building. Each floor is 5,000 square feet,withseating for 200 people. The second floor will be rented out for parties.
    http://www.winick.com/2006_Listings/...100_church.htm





  10. #25
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    It has been over a year now since we've last heard about Buster's. Have they reopened at 100 Church yet?

  11. #26
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    By the way, this project's official address is now 34 Leonard St. Their website is now up and running.


  12. #27

    Default Busters

    I found this on eater but it is 5 months old...

    First Word: Buster's Garage Owners Try Again in Tribeca
    Friday, January 4, 2008
    Welcome back to First Word, wherein Eater and its correspondents sit for hours at steamy community board meetings to bring back the first word of new establishments and what they're up to. Your reports from the field always encouraged to tips@eater.com.
    Just when you think the strange saga of Buster's Garage is dead, they suck us back in. Close readers and Tribeca residents may recall that Buster's shuttered its space at 180 West Broadway back in 2006 (right) to make way for a new development, then unsuccessfully tried to reincarnate at 18 Leonard Street, among other Tribeca/FiDi locations. This week, the owners of the rowdy joint roared back from the dead. Per a tipster:
    New Year, same as the old. Apparently Buster's Garage has agreed to enter the empty space on the corner of N. Moore and Varick that used to be occupied by something called Divarty's. Everyone is up in arms including the residents of 25 N. Moore, the building that agreed to lease the space to Tribeca's least favorite sports and cheap beer enthusiasts in the first place. Since there are already 5 (or maybe 6) bars within 500 feet, the Buster's people have a waiver meeting with the liquor commission tomorrow (Thursday). I can't imagine this waiver will go forward as everyone in this neighborhood already has a flat screen wider than anything Buster's could install in addition to all the money and connections the fine upstanding folks of the city's richest zipcode have earned/stolen/inherited/hegded. Also, the Buster's folk tried to do the same thing just two blocks down the street and failed on a much less storied block (JFK Jr. used to live right across the street!).
    Sure enough, the residents did respond, with over 40 of them busing to the SLA hearing yesterday. We spoke with Allen Murabayashi, the board president at 25 N. Moore Street, who clarified some matters.
    The crucial points, per Murabayshi:
    1) 25 N. Moore Street is a condo building, so the residents don't have control over the retail tenants. In fact, the building sponsor sold the retail space in early 2007 after it had long sat vacant. This is the space that Buster's wants to move into.
    2) Following yesterday's SLA waiver meeting, community members have 10 days to submit arguments to the judge, who would then rule on whether a waiver to the 500-foot-rule would be allowed. If it is, the liquor license application will still need the support of the full State Liquor Authority Board, who could presumably hear the application at a February hearing.
    3) Perhaps most mysteriously, what sort of establishment does the Buster's group want to open? It may not be as simple as recreating the old frat boy magic. Before we spoke to him, Murabayshi dropped us an email discussing the residents' position, and what the Buster's ownership group has told the building. His email, in full, below.
    4) As for the Buster's folks? In an interview this week with the Tribeca Trib, manager Rusty Schultz denied that the new place would be rowdy: "Look, I'm 40 years old. I'm done with the frat boy crowd. And I wish we had the money for a 70-inch TV."
    Murabayshi's email to Eater:
    I am the board president at 25 N Moore St. in Tribeca. 200 Water Group LLC, whose ownership formerly owned and operated Buster's Garage has taken a 15 year lease to open a new "family bistro" in the retail space in our lobby.
    Community Board #1 gave unanimous approval to 200 Water at their November meeting to proceed with their State Liquor License application. No residents were informed. We subsequently spent several hours speaking with CB1 and they said that they would consider re-hearing the matter at their first January meeting on or about the 9th.
    We invited their General Manager to our last board meeting to explain the situation to us on December 13. The plans that he brought showed a predominance of bar seating, and despite his claims of running a restaurant where "a family of four could get a nice meal for under $100," there were no 4-top tables depicted in their drawing. They had applied to be open till 4am, which was denied—we obviously have a heavy dose of skepticism that a family restaurant would need to be open till 4am.
    They applied for their liquor permit on or around 12/12 or 12/13.
    We subsequently retained Barry Mallin on 12/20, the lawyer that represented the residents of 18 Leonard in their fight when Buster's tried to re-open at 24 Leonard. He indicated that we would typically have 2 months or so before a hearing was scheduled and urged us to put together petitions, letters of opposition, etc. We started to draft these documents as we moved into the holiday.
    Today, we were notified that the SLA hearing is TOMORROW [yesterday]. We are shocked that they were able to get a hearing in 22 days, and the whole thing reeks of impropriety.
    Any attention that you can bring to the matter would be appreciated.
    Regards,
    Allen Murabayashi

  13. #28
    Build the Tower Verre antinimby's Avatar
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    So it looks like Buster's is still looking for a home.

  14. #29

  15. #30
    Disgruntled Optimist lofter1's Avatar
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    Exclamation Mods: Can this thread title be changed

    Mods: Can this thread title be changed to include the official name / address:

    34 LEONARD (Street)

    The crane here has come down. The bricks are up on almost the entire the facade and the majority the big streel framed windows have been installed.

    *
    Attached Thumbnails Attached Thumbnails Click image for larger version. 

Name:	34 Leonard_22 (2).jpg 
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