On July 30, the Roosevelt Island Operating Corp (RIOC) Real Estate Advisory Committee (audio web cast of meeting here) received an update on Main Street leasing progress from Master Retail Leaseholder Hudson Related’s David Kramer.
Image Of July 30 RIOC Real Estate Advisory Committee Meeting (David Kramer On Far Left) Earlier that day, it was reported here that Hudson Related signed a lease with an urgent care medical facility for the space occupied by the St Cabrini Thrift Shop. Mr. Kramer began the retail update with a summary of progress to date including: Here’s Part 1 of Mr. Kramer’s retail update.
Mr. Kramer then spoke about (Part 2) the waterfront concession at Eleanor’s Pier, hoping to make it a more permanent concession for next summer and creating Roosevelt Island way finding signage
followed by questions (Part 3) from RIOC Directors about: Mr. Kramer said that Hudson Related has not lost one deal because of asking for too much money and was willing to do a below market, loss leader deal, for the right tenant.
Mr. Kramer then took questions from residents (Part 4) about:
and (Part 5 ):
And then the meeting was over (Part 6).
Mr. Kramer said that he believes it will take another one or two years for the 4 -6 currently vacant store spaces to be leased.
… We’re going to continue along at a semi-sluggish pace and then something is going to tip…
Mr. Kramer encouraged residents to be ambassadors for Roosevelt Island and to tell favorite retailers that Roosevelt Island was open for business. Mr Kramer emphasized that there will no longer be sweetheart deals for politically favored tenants but that new leases will be based upon “market transactions.”