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Brodsky rejects DeBlasio’s $100M offer for Bushwick Inlet Park site: rep

Fight for your light: Protesters projected messages on the side of the CitiStorage complex last year, demanding the city buy the property and turn it into a park.
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A Williamsburg property mogul rejected Mayor DeBlasio’s $100-million offer to buy land he owns on the neighborhood’s waterfront, thwarting Hizzoner’s effort to make good on a decade-old promise to turn the site into parkland, according to his broker.

City officials met with developer Norm Brodsky on Thursday to make the offer on his burnt-out CitiStorage warehouses at Kent Avenue and N. 11th Street, but Brodsky turned them down, according to his real-estate rep, who claims they have higher offers on the table and DeBlasio will have to up the ante to compete.

“We’re running a standard broker sales process where we’re having people bid for property and we’re going to accept highest bid,” said Paul Massey of Cushman and Wakefield. “We’re delighted to have city be a part of that.”

DeBlasio’s offer follows years of pressure from local activists and pols, who say the city must fulfil its pledge to expand Bushwick Inlet Park out to 28 acres — a tradeoff it made when rezoning much of the waterfront for luxury high-rises.

The city has since bought up 17 acres of land for the park, but had long claimed it couldn’t afford the skyrocketing value of Brodsky’s 11-acre property, which the tycoon now hopes will net him $325 million.

Massey refused to say what the other offers are, but claimed they are “significan­tly” higher than the city’s, and that they will settle on a buyer within the next few weeks.

But some are skeptical about the value and the mystery buyers.

The land is currently zoned for heavy industrial use — meaning a buyer couldn’t erect a residential building or hotel there — and both DeBlasio and local Council member say they will not rezone it.

A buyer could build offices and some retail there, but one Brooklyn broker said it is difficult to make a profit building commercial properties on very expensive land — especially on the waterfront, where it can be tricky to build you often need city, state, and federal permits.

“It is hard to do commercial projects if you pay a lot for the land,” said the source, who asked to remain anonymous. “It’s really hard to make it work for the price point.”

The broker wouldn’t speculate on the land’s value, but park activists believe it is worth around $77–$92 million, given the restrictive zoning.

“Brodsky’s fantasy about winning the lotto with a residential valuation is not grounded in reality,” said Williamsburg attorney Adam Perlmutter, a member of activist group Friends of Bushwick Inlet Park and chairman of the Open Space Alliance, which advocates for green space in Williamsburg and Greenpoint.

Perlmutter said his valuation comes from local real-estate brokers, but wouldn’t say who.

Regardless, he and the Friends of Bushwick Inlet Park are calling on Brodsky to accept the city’s offer for the good of the community and his own image.

“We think Norman Brodsky and his family should really consider their next steps, because we’re trying to create a public park for all New Yorkers,” he said. “They’re saying $100 million is not enough for them and because of that, the city should not have a public park. That could have an impact on their reputation and legacy.”

Massey declined to say whether Brodsky would consider a do-gooding discount to help the green-space-starved neighborhood finally get its park.

DeBlasio’s offer is good for 60 days, according to the letter he sent Brodsky. A spokesman did not return request for comment on what the city will do after that.

Updated 10:17 pm, July 9, 2018
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Reasonable discourse

Dean from the ——ty part of town says:
Think of the stunning views that property owners will miss out on if they don't get one gigantic park, instead of several nice parks.
I would want to see my yacht at the marina from my condo window too if I could. Come on Norm. Taxpayers won't be willing to foot the bill for this huge expense for long. Take the money and run. Portray the hero.
June 10, 2016, 11:13 pm
Purple Sometimes says:
Brodsky doesn't even know how to spend money. What a nightmare.
June 11, 2016, 2:19 pm
Eminent domain from Change the zoning says:
Eminent domain

Or change the zoning the R-1

Simple.
Change the zoning to R-1 with easement from utility companies and other agencies and the land is with $1
June 11, 2016, 5:18 pm
Charles from Bklyn says:
Eminent domain the land and call it a day.
June 11, 2016, 8:59 pm
Fannie from Williamsburg says:
Offering us money like a prostitute?! I thought he cared about women's issues, but he's nothing but a sexist. This is particularly distressing for women Of color.
June 12, 2016, 7:33 am
Nixie from Kensington says:
All the money in the World couldn't buy us
June 12, 2016, 11:19 am
Simpson from Washington Heights says:
Why isn't a woman in charge of this project?!? Or a handicapped??
June 12, 2016, 12:20 pm
Mike from Williamsburg says:
Even if the city uses eminent domain, it has to pay for the land.
June 13, 2016, 12:27 pm
John Wasserman from Prospect Heights says:
Hello, John Wasserman here. I agree with Mike. Use the eminent domain, then pay less then what your offered. Have it tied up in courts for years and wait for the flood waters to rise and forget about it. John Wasserman
June 13, 2016, 1:38 pm
Gavurin from Williamsburg says:
The cost the city pays should be determined by the property tax market assessment, which is many millions less.
June 14, 2016, 3:41 pm
Bkmanhatman from Nubrucklyn says:
Eminent domain. Seize the land and just pay him for the seizure.
June 14, 2016, 5:56 pm
Mutley from Greenpoint says:
Eminent domain ? Yeah right, that is something you are all crowing for but if it well your property you would think different. Brodsky took the risk when he purchased the property, then he should get the reward. You all want to complain about a lack of parks? Why don't you go after all the developers who built over there who were supposed to include park space and claim that they ran out of money to do so ! Brodsky wants to sell to the city, but he should not feel pressured to give it away !
June 23, 2016, 8:52 pm
Susan from Williamsburg says:
I can tell you Norm Brodsky and his family are crooks! His "Adopted daughter " who never worked a day in her life is in a 5 year battle with her now ex husband. The Brodsky clan are using their money to take their daughters 2nd Ex husband for what little money he has according to court records. They are all about money and can careless about anyone but themselves! The IRS should audit them !
Aug. 8, 2016, 8:24 am

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