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Originally Posted by pmacdaddy
I would have to disagree with the claim that the Aqueduct land is not valuable.
I have the dubious honor of coming to Jamaica/Ozone Park every day.... POS office buildings are going for $20 Mil in Jamaica on no property. If a developer had restrictions lifted I see no reason why that land is not worth $500 Mil.
Companies like Target, Wall Mart, etc would give their eye teeth to have a sprawling complex set up smack dab between Brooklyn and Queens with lots of parking.
I agree that the location does not scream luxury, but as a 190 acres mixed Retail / Office / Residential that land is worth a fortune in my opinion.
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Coorectamundo baby...look at what they did near Pennsylvania Ave area off the Belt. New stores, steak houses, BJ's (the store, not the other), Costco, Best Buy.