The end of Aqueduct?

[pweizer]

The full story is here:

http://www.nydailynews.com/news/2007...last_legs.html

Basically, the main gist is this:

The governor finally addressed rumors about Aqueduct by saying the 192-acre horse-racing complex might be shuttered, leaving Belmont and Saratoga as the state's only Thoroughbred tracks.

"Whether or not you have racing at Aqueduct, you have an enormous piece of land there that can and should be used for some other things," Spitzer told the Daily News Editorial Board. "That's a remarkably valuable piece of land from a public perspective."

Those are magic words to real estate developers, who may soon get a chance to submit fresh proposals for the rundown track, which sits on a parcel of land that could be worth $1 billion.

"This type of square footage hasn't been available in a hog's age," said Peter Von Der Ahe, a director at the real estate investment firm Marcus & Millichap in Manhattan. He predicted every large developer in the city would pursue the property, which is 12 times the size of Ground Zero.

[Left Bank]

How can he say something like that about something he does NOT own?

[philcski]

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

[Rudeboyelvis]

If someone actually was willing to pay a billion dollars for that dump, god bless them. Take the money and run. I'm sure the developers of these "luxury hotels and golf courses" have taken into account that they are basically in the parking lot of the largest international airport in the world, with scheduled flights around the clock. I know there is no sound more comforting in the middle of my back swing than the unexpected roar of jet blast every 3 minutes

Not that it would ever happen, but I'd like to see them go back to 'Toga after the fall Belmont meet up until they shut down for the holidays, then stay dark until Belmont opens again in the Spring. The winter racing at Aqueduct has been laughable, that is when it isn't canceled for weather

[SentToStud]

$1,000,000,000
~ 200 Acres
= $5,000,000 / Acre

If you built 15 homes per acre, what would they go for there? $700,000?

[Cajungator26]

Originally Posted by SentToStud

$1,000,000,000
~ 200 Acres
= $5,000,000 / Acre

If you built 15 homes per acre, what would they go for there? $700,000?

I'm guessing that's cheap in NY?

[philcski]

Originally Posted by Rudeboyelvis

If someone actually was willing to pay a billion dollars for that dump, god bless them. Take the money and run. I'm sure the developers of these "luxury hotels and golf courses" have taken into account that they are basically in the parking lot of the largest international airport in the world, with scheduled flights around the clock. I know there is no sound more comforting in the middle of my back swing than the unexpected roar of jet blast every 3 minutes

Not that it would ever happen, but I'd like to see them go back to 'Toga after the fall Belmont meet up until they shut down for the holidays, then stay dark until Belmont opens again in the Spring. The winter racing at Aqueduct has been laughable, that is when it isn't canceled for weather

I guess you've never been to New York in November/December [however i agree it would be better if they took off some time for the winter]

Additionally, there's a golf course on the other side of JFK right smack in the traditional flightplan (Lido Beach) and while it's a really nice course with some great ocean views the jets significantly detract from the experience.

[Danzig]

Originally Posted by Kimmeastar

How can he say something like that about something he does NOT own?

guess he's from the same school as hillary, who wants to take oil co profits!

[ateamstupid]

Originally Posted by Cajungator26

I'm guessing that's cheap in NY?

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

All of those are in Brooklyn.

[philcski]

Originally Posted by SentToStud

$1,000,000,000
~ 200 Acres
= $5,000,000 / Acre

If you built 15 homes per acre, what would they go for there? $700,000?

Your logic isn't that far off, but I think (a) the number of homes per acre is probably closer to 8 in that neighborhood, and (b) the price would probably be around $400k for your standard 3BR/2BA. There just isn't that much appeal or demand for Ozone Park, it's a long commute to the city and offers very little otherwise.

[MaTH716]

Originally Posted by philcski

I guess you've never been to New York in November/December [however i agree it would be better if they took off some time for the winter]

Additionally, there's a golf course on the other side of JFK right smack in the traditional flightplan (Lido Beach) and while it's a really nice course with some great ocean views the jets significantly detract from the experience.

Inwood Country Club. Been there, it very nice except for the mosquitos and the 747's buzzing around.

[SentToStud]

http://homes.realtor.com/search/list...srcnt=4#Detail

what you get for a half mil near Big A.

[Cajungator26]

Originally Posted by SentToStud

http://homes.realtor.com/search/list...srcnt=4#Detail

what you get for a half mil near Big A.

I'll pass.

[zippyneedsawin]

Originally Posted by pweizer

The full story is here:

http://www.nydailynews.com/news/2007...last_legs.html

Basically, the main gist is this:

The governor finally addressed rumors about Aqueduct by saying the 192-acre horse-racing complex might be shuttered, leaving Belmont and Saratoga as the state's only Thoroughbred tracks.

"Whether or not you have racing at Aqueduct, you have an enormous piece of land there that can and should be used for some other things," Spitzer told the Daily News Editorial Board. "That's a remarkably valuable piece of land from a public perspective."

Those are magic words to real estate developers, who may soon get a chance to submit fresh proposals for the rundown track, which sits on a parcel of land that could be worth $1 billion.

"This type of square footage hasn't been available in a hog's age," said Peter Von Der Ahe, a director at the real estate investment firm Marcus & Millichap in Manhattan. He predicted every large developer in the city would pursue the property, which is 12 times the size of Ground Zero.

How long does a hog live anyway? So the governor's plan is to have racing go dark in NY for nearly 6 months or make 'em run at belmont for 11 months out of the year?

[philcski]

Originally Posted by MaTH716

Inwood Country Club. Been there, it very nice except for the mosquitos and the 747's buzzing around.

Haven't played that one, but that's directly across the bay from JFK, right? I bet it's even worse than Lido with the planes.

Originally Posted by SentToStud

http://homes.realtor.com/search/list...srcnt=4#Detail

what you get for a half mil near Big A.

LOL

What a dump for a half mil.

[Cannon Shell]

Originally Posted by Kimmeastar

How can he say something like that about something he does NOT own?

Eminent Domain

[Bigsmc]

Originally Posted by SentToStud

http://homes.realtor.com/search/list...srcnt=4#Detail

what you get for a half mil near Big A.

Wow. Wonder what the value of the actual structure is vs. the 0.06 acres of land?

[Linny]

How do you fill 9 a day at a winterized Belmont Park without the 600 or so horses usually in residence in Ozone Park? I doubt that they will be staying in highrise condos or hotel suites and shopping the promenade with stranded travelers from JFK.

The developers have ideas of a complex of residences, hotels and an "international" shopping experience playing off the international character of many of the travelers through Kennedy. The property would not be parcelled out like a suburban neighborhood, or even the surrounding neighborhoods.

[Sightseek]

Originally Posted by SentToStud

http://homes.realtor.com/search/list...srcnt=4#Detail

what you get for a half mil near Big A.

I think I'll take this in Saratoga instead!

http://homes.realtor.com/search/list...rcnt=41#Detail

[SentToStud]

Originally Posted by Cajungator26

I'll pass.

I can put you in this little gem for under $400k. "Needs work."