AND WHAT THEY’RE ALL ABOUT …
Just NINE companies, most big players in real estate, provided
ALL the Seed Money to fund the SoHo BID.
Meet some of the syndicate that will bring a new TAX to SoHo:
Newmark Knight Frank Global Real Estate Advisors
Newmark Knight Frank is one of the largest independent real estate service firms in the world. NKF operates from over 165 offices in established and emerging property markets on six continents. Recent annual transactions were valued at more than $47.6 billion with annual revenues of over $872 million.
Thor Equities is a recent entry into the established SoHo neighborhood; in the past
4 years 7 years Thor Equities has purchased four SEVEN Broadway properties, for an investment of over $300,000,000 nearly $450,000,000 along this short stretch of SoHo.
See what Thor says about the success of SoHo and then ask:
“Why can’t Thor pay their own way?”
“Manhattan’s premier SOHO Shopping District” … “Pedestrians galore” … “Retail locations in this area are in very high demand and rarely become available” … “SOHO is home to some of the top performing stores in the nation for national chains “
Invesco Real Estate
Invesco, a Dallas based company and one of the country’s largest managers of real estate, bought a commercial condo at 512 Broadway for $55,000,000 in January 2011 and declared:
“We are really pushing to grow our presence in the city … This is a long-term play. We think there is incredible upside.”
Aurora Capital, the crew behind SoHo’s new Hollister at the corner of Broadway and Houston Street (where they wiped out the iconic DKNY wall painting) and the Victoria’s Secret & Forever 21 mega-stores, recently acquired a single commercial lease at 483 Broadway valued at $150,000,000 …
“This particular section of Broadway is one of the strongest in New York retail. For example, the conversion rates on this block are among the best in the world, and many retailers have sales volumes at or above $2,000 per square foot.”
TELL the NY CITY COUNCIL to REJECT the SoHo BID
Contact The SoHo NO BID Committee: SohoNoBID@nyc.rr.com