The end of Aqueduct?

[Left Bank]

Originally Posted by Cannon Shell

Eminent Domain

I don't think he could get away with the eminent domain deal on this.It would be 5- 10 years before it all was settled by the courts also,IMO

[Cannon Shell]

Originally Posted by Kimmeastar

I don't think he could get away with the eminent domain deal on this.It would be 5- 10 years before it all was settled by the courts also,IMO

Dont be so sure of that
http://www.cbsnews.com/stories/2003/...in575343.shtml


Of course the state would say that they own the land so the money will go to them or they will force NYRA to cede the land to the state in order to remain at Belmont and Saratoga or about a million other scenarios

[Sightseek]

Originally Posted by Cannon Shell

Dont be so sure of that
http://www.cbsnews.com/stories/2003/...in575343.shtml


Of course the state would say that they own the land so the money will go to them or they will force NYRA to cede the land to the state in order to remain at Belmont and Saratoga or about a million other scenarios

The bankruptcy could complicate this.

[the_fat_man]

Originally Posted by philcski

How they think a plot of land in South Ozone Park is that valuable to developers is beyond me.

That's the $10,000 question. Why is this land so valuable?

1) because it's right by the highway (BELT and Van WYCK) and thus suffers from traffic noise and constant congestion

2) it's under a JFK airport fly zone ---so when the cars aren't zooming by the planes are zooming overhead

3) it's not near a body a water

4) it's not in a particularly good or coveted neighborhood ---Howard Beach is on the east side of the Belt

Why would anybody want to live there as opposed to any other area that's in a fly zone and by major highways?

Splitzer is following Bloomberg here and assuming that EVERYBODY is an IDIOT


I just realized why: cause you can get some good ETHNIC food (West Indian, Indian, Arab, etc) in the area. That must be it.

[philcski]

Originally Posted by the_fat_man

That's the $10,000 question. Why is this land so valuable?

1) because it's right by the highway (BELT and Van WYCK) and thus suffers from traffic noise and constant congestion

2) it's under a JFK airport fly zone ---so when the cars aren't zooming by the planes are zooming overhead

3) it's not near a body a water

4) it's not in a particularly good or coveted neighborhood ---Howard Beach is on the east side of the Belt

Why would anybody want to live there as opposed to any other area that's in a fly zone and by major highways?

Splitzer is following Bloomberg here and assuming that EVERYBODY is an IDIOT


I just realized why: cause you can get some good ETHNIC food (West Indian, Indian, Arab, etc) in the area. That must be it.

100% correct...

I might be the only person on this board who's actually lived in Ozone Park, and I can tell you for the reasons above it isn't a real nice place to live especially when compared to other locations in Queens (of which there are many lovely places to live.)

[trifecta124]

Originally Posted by ateamstupid

I guess, but Ozone Park isn't exactly one of NYC's hottest neighborhoods.

All of those are in Brooklyn.

I grew up in Ozone Park about 1 mile from Aqueduct....Needless to say I don't live in Ozone Park anymore. I never liked the neighborhood and it gets worse all the time. However, you cannot say that Brooklyn is fantastic either. Everywhere you go in NYC you are paying a lot of money for very little property. That's just the way it goes.

[kenny p]

Originally Posted by philcski

How they think a plot of land in South Ozone Park is that valuable to developers is beyond me.

Have you checked home prices in that area lately? Even next door in East New York they are rising real quick. New 3 families on Fountain Ave go for 600,000. And they are right near the Pink Houses. I really wish they would just keep The Big A. KP

[Storm Cadet]

Originally Posted by philcski

How they think a plot of land in South Ozone Park is that valuable to developers is beyond me.

Additional and much needed hotel space across the street from JFK??? Are you kidding...the hotels near JFK are average at best and always sold out. Hotels for the most part, especially large chain hotels across the street from a major INTERNATIONAL airport are hugely profitable.

[Left Bank]

Originally Posted by Cannon Shell

Dont be so sure of that
http://www.cbsnews.com/stories/2003/...in575343.shtml


Of course the state would say that they own the land so the money will go to them or they will force NYRA to cede the land to the state in order to remain at Belmont and Saratoga or about a million other scenarios

I would think that if the state claimed eminent domain,it would be an admission that NYRA owns the land,thereby screwing themselves.If Spitzer thinks the state owns the land,why claim eminent domain?I think Spitzer is digging himself into a BIG hole here.

[trifecta124]

Originally Posted by the_fat_man

That's the $10,000 question. Why is this land so valuable?

1) because it's right by the highway (BELT and Van WYCK) and thus suffers from traffic noise and constant congestion

2) it's under a JFK airport fly zone ---so when the cars aren't zooming by the planes are zooming overhead

3) it's not near a body a water

4) it's not in a particularly good or coveted neighborhood ---Howard Beach is on the east side of the Belt

Why would anybody want to live there as opposed to any other area that's in a fly zone and by major highways?

Splitzer is following Bloomberg here and assuming that EVERYBODY is an IDIOT


I just realized why: cause you can get some good ETHNIC food (West Indian, Indian, Arab, etc) in the area. That must be it.

Howard Beach is worse than Ozone Park....

The Land is built on a swamp
The people have no regard for parking regulations (Triple parking and blocking lanes on Cross Bay Blvd.)
The Planes actually hit peoples rooftops as they land @ JFK.

[Cannon Shell]

Originally Posted by Kimmeastar

I would think that if the state claimed eminent domain,it would be an admission that NYRA owns the land,thereby screwing themselves.If Spitzer thinks the state owns the land,why claim eminent domain?I think Spitzer is digging himself into a BIG hole here.

You would assume this but the whole deal and the laws are murky.

[Danzig]

you can't fight city hall.


if new york decides they want to close it, it'll happen. whether they claim eminent domain, ownership, whatever....

[Storm Cadet]

Originally Posted by trifecta124

I grew up in Ozone Park about 1 mile from Aqueduct....Needless to say I don't live in Ozone Park anymore. I never liked the neighborhood and it gets worse all the time. However, you cannot say that Brooklyn is fantastic either. Everywhere you go in NYC you are paying a lot of money for very little property. That's just the way it goes.

Thats why most of us move to the Island...where $600,000 gets you 4 br 3 bth on a 3/4 acre and kids actually get great educations!

[trifecta124]

Originally Posted by Storm Cadet

Thats why most of us move to the Island...where $600,000 gets you 4 br 3 bth on a 3/4 acre and kids actually get great educations!

Unfortunately, you also have to pay $10,000 a year or more in property taxes.
A lot of my family lives in Long Island It has good points and setbacks as well.

[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.

[Storm Cadet]

Originally Posted by trifecta124

Unfortunately, you also have to pay $10,000 a year or more in property taxes.
A lot of my family lives in Long Island It has good points and setbacks as well.

Yes taxes are high, mine are not that high (6,000) but living in the west, south and midwest...I've learned you get what you pay for in community, parks and educational services.

[Storm Cadet]

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.

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.

[trifecta124]

Originally Posted by Storm Cadet

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.

People who are not from the area don't understand.

[Storm Cadet]

We should put a before and after arial shot of the Belt area we are talking about!

Imagine swamp in Orlando before Mickey Mouse and now!

[Merlinsky]

Am I the only one concerned about the historic implications? I guess though that if they (you know, "them") can screw Hialeah, why stop there. I just didn't look far enough down the list, it's my fault...Hialeah, renaming Candlestick Park, giving Donald Trump a star on the Hollywood Walk of Fame...should've read the writing on the wall for Aqueduct. I was thinking next we could have them chisel the Donald onto Mount Rushmore.