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Re: Buon Italia at Trump Plaza
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jklm wrote:
... - but won't open for another two years - until the new construction is complete....


They're finally building the 2nd tower?

Posted on: 1/13 16:36
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Re: Buon Italia at Trump Plaza
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sp2xs wrote:
What's the deal with this place? Signs are still up over a year later...


those signs have been up for at least 3-4 years

Posted on: 1/13 16:13
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Re: Buon Italia at Trump Plaza
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The ground floor space is not built for food production. Plumbing and proper ventilation was never installed.
When the new tower (rental) to the east is constructed, the ground floor will be altered to allow a grocery or restaurant to occupy the space. Maybe Buon Italia still has rights to the space? - but won't open for another two years - until the new construction is complete.
Planning Board has heard the new construction proposal (confirming the need to alter existing space for food production) late last year, but I don't know when construction is slated to begin.




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sp2xs wrote:
What's the deal with this place? Signs are still up over a year later...

Posted on: 1/13 15:41
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Re: Buon Italia at Trump Plaza
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What's the deal with this place? Signs are still up over a year later...

Posted on: 1/13 13:40
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Re: Buon Italia at Trump Plaza
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The listing was for 20,000 sf which has to be that whole space but said it could be sub-divided. Having lived there for two years I can tell you that the place is poorly managed by Tom, and poorly maintained. The Grotto Lounge (hot tubs, sauna and and steam baths) was closed half the time and the outdoor pool was extremely windy and cold most of the time.
Happy owners? My ex-landlord recently sold her 1BR at a loss of $150,000 and that was not a short sale. 5 years later and still not sold out, that speaks for itself. CHUMP!!!

Posted on: 2013/1/11 11:18
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Re: Buon Italia at Trump Plaza
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SammyTheT wrote:
Trump Plaza is nearly sold out - 4 of the 443 units are available to buy now and the last 14 will be available in February. I've spoken to residents there and they love it. The amenities floor is great, the pool is beautiful. The original plans had the washer/dryer installed in the kitchen but many of the units were modified with the washer/dryers installed in closets. And, again, as I said earlier this week, the Buon Italia lease is still in place and construction should begin soon. The space is NOT available for lease.


Why has it taken over 2 years for construction to start "soon"? Have they been paying rent all of this time?

Posted on: 2013/1/11 10:34
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Re: Buon Italia at Trump Plaza
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I have no idea what Buon Italia's plans are, but that listing doesn't necessarily mean that the Buon Italia space is now available. There is more retail space in Trump than just where Buon Italia is/was planning to occupy.

But it is a perfect example of one of my real frustrations with Downtown - the interminable existence of Coming Soon signs.
Who's ready to go to City Diner?!

Posted on: 2013/1/11 10:31
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Re: Buon Italia at Trump Plaza
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Actions speak louder than words. I'll wait another year, and when Buon Italia still hasn't occupied this space we can both know who was right.

Posted on: 2013/1/11 10:19
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Re: Buon Italia at Trump Plaza
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Please post a link. I would love nothing more than proof.

Posted on: 2013/1/10 16:52
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Re: Buon Italia at Trump Plaza
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I am not a real estate agent, I have no investment in the building. I am always amazed by people on JCList making absolute statements about things that they know nothing about. You are clearly questioning the very existence of a Buon Italia lease. Yes, there is a signed lease and a certification into the Urban Enterprise Zone (UEZ) program (which can only be accomplished with a signed lease in place).

Posted on: 2013/1/10 16:24
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Re: Buon Italia at Trump Plaza
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It sounds to me like you either live in the building and/or you have an investment that you're trying to protect. Are you by any chance a real estate agent? I find it strange that the listing I posted was modified less than 2 months ago. Maybe there was too much damage to the space from the hurricane, and Buon Italia backed out of the deal (if they ever genuinely intended to occupy this space). I would like to see them actually come here, but after months and months and months of waiting, I find it hard to believe they're about to start construction. I'll believe it when I see it.

Posted on: 2013/1/10 16:08
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Re: Buon Italia at Trump Plaza
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Trump Plaza is nearly sold out - 4 of the 443 units are available to buy now and the last 14 will be available in February. I've spoken to residents there and they love it. The amenities floor is great, the pool is beautiful. The original plans had the washer/dryer installed in the kitchen but many of the units were modified with the washer/dryers installed in closets. And, again, as I said earlier this week, the Buon Italia lease is still in place and construction should begin soon. The space is NOT available for lease.

Posted on: 2013/1/10 15:55
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Re: Buon Italia at Trump Plaza
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trump is a horrible condo for many reasons other than there being no restaurant on the first floor. For one thing, it bears the name of a crazy person. It is also now outdated and the layout is horrible. Laundry machines in kitchens? wtf

SH is horrible cause of the most important concept in real estate - location, location, location.

Posted on: 2013/1/9 23:48
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Re: Buon Italia at Trump Plaza
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And that's why we call it Chump Plaza.

Posted on: 2013/1/9 20:47
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Re: Buon Italia at Trump Plaza
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neverleft wrote:
.
Sorry but it sounds like BS to me. Below is the NYT’s piece from January 2010 about the financial woes of the Trump building. What better way to “relaunch” then to say a NYC specialty food store popular with the yuppies signed a lease. And to put signs up to boot. (no italian pun intended) I mean are you telling me that someone was stupid enough to sign a lease in September of 2010 and leave the space empty for 2 and a half years. Or if the deal was that they didn’t need to start paying rent until construction started that would also be a stupid move on the landlord’s part.

Sort of reminds me of JC’s Society Hill. Ten’s of thousands of people entered a lottery for a chance to buy in phase one down there. They had the drawing down at the Liberty Park Train Terminal. (some dopes actually thought it was a lottery to win free condo’s) That was when the real estate market was hot in the late 80’s. When people would sleep outside of sales offices for a crack at a house/condo. (sort of like the Nike drops of today) Then the great real estate bust of early 90’s hit. People were backing out of deals and it didn’t look like phase one would be finished or phase two or three would be built. What did HOV do? They turned up the advertizing on how SH was going to have it’s own day care, marina (the old Roosevelt Marina would be reincarnated), 5 star water front restaurant (where the old airport / Captains Table was, and a light rail stop near by (seems that is again being talked about in the Bay Front (fantasy) development. Well of course after phase two and three sold out those things never materialized. But I bet it sure lured people into buying.

** *

“Today the lone Trump building stands about half full, with 239 of its 443 units sold. Only a handful of sales have occurred in the year since the housing market and Wall Street meltdowns. And in August, after Metro Homes defaulted on payment of its construction loans, iStar Financial took over ownership of the building. It has since hired the real estate company Coalco to devise plans for a “relaunch.” “

January 2010 NYT’s piece…

http://www.nytimes.com/2010/01/24/realestate/24njzo.html?_r=0


You might be right.... Here is a quote I found from the owner... “We’ve wanted to cross the Hudson River and debut in New Jersey for a long time; we just had to find the perfect place for our store,” Buon Italia owner Mimmo Magliulo says in a statement. “There is no better place for us to be than Trump Plaza. The Trump name alone exudes luxury, elegance and authenticity. It’s what Trump expects, it’s what the residents expect and it is what we are prepared to offer in abundance.”

Posted on: 2013/1/9 18:02
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Re: Buon Italia at Trump Plaza
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.
Sorry but it sounds like BS to me. Below is the NYT’s piece from January 2010 about the financial woes of the Trump building. What better way to “relaunch” then to say a NYC specialty food store popular with the yuppies signed a lease. And to put signs up to boot. (no italian pun intended) I mean are you telling me that someone was stupid enough to sign a lease in September of 2010 and leave the space empty for 2 and a half years. Or if the deal was that they didn’t need to start paying rent until construction started that would also be a stupid move on the landlord’s part.

Sort of reminds me of JC’s Society Hill. Ten’s of thousands of people entered a lottery for a chance to buy in phase one down there. They had the drawing down at the Liberty Park Train Terminal. (some dopes actually thought it was a lottery to win free condo’s) That was when the real estate market was hot in the late 80’s. When people would sleep outside of sales offices for a crack at a house/condo. (sort of like the Nike drops of today) Then the great real estate bust of early 90’s hit. People were backing out of deals and it didn’t look like phase one would be finished or phase two or three would be built. What did HOV do? They turned up the advertizing on how SH was going to have it’s own day care, marina (the old Roosevelt Marina would be reincarnated), 5 star water front restaurant (where the old airport / Captains Table was, and a light rail stop near by (seems that is again being talked about in the Bay Front (fantasy) development. Well of course after phase two and three sold out those things never materialized. But I bet it sure lured people into buying.

** *

“Today the lone Trump building stands about half full, with 239 of its 443 units sold. Only a handful of sales have occurred in the year since the housing market and Wall Street meltdowns. And in August, after Metro Homes defaulted on payment of its construction loans, iStar Financial took over ownership of the building. It has since hired the real estate company Coalco to devise plans for a “relaunch.” “

January 2010 NYT’s piece…

http://www.nytimes.com/2010/01/24/realestate/24njzo.html?_r=0

Posted on: 2013/1/9 17:25
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Re: Buon Italia at Trump Plaza
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Unless it's Whole Foods!

Posted on: 2013/1/9 12:48
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Re: Buon Italia at Trump Plaza
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Quote:

Renegade14 wrote:
agreed, no foot traffic. I use to work across the street and during the day there was a little but a complete ghost town at night. Maybe when the new buildings go up there will be more.

This is a terrible area to open any business, no foot traffic during the day or night and limited parking. Any business that opens in this location will be gone in 6 months.

Posted on: 2013/1/9 9:07
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Re: Buon Italia at Trump Plaza
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SammyTheT wrote:
The deal for Buon Italia is still in place. I don't know why construction is still delayed. The space is not back on the market.


That is good news - look thru the windows if you can, I was told there was serious hurricane damage - the floor is "con ondo" with as much as two foot high heaves. To repeat, hear-say, can anyone verify damage?

Posted on: 2013/1/8 18:20
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Re: Buon Italia at Trump Plaza
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I wish this joint would open, can never have too much Italian around here.

Posted on: 2013/1/8 18:14
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Re: Buon Italia at Trump Plaza
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Do you have inside knowledge that the deal is still in place? That listing was updated less than two months ago.

Posted on: 2013/1/8 16:17
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Re: Buon Italia at Trump Plaza
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The deal for Buon Italia is still in place. I don't know why construction is still delayed. The space is not back on the market.

Posted on: 2013/1/8 16:10
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Re: Buon Italia at Trump Plaza
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agreed, no foot traffic. I use to work across the street and during the day there was a little but a complete ghost town at night. Maybe when the new buildings go up there will be more.




Posted on: 2013/1/7 19:15
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Re: Buon Italia at Trump Plaza
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Like Trader Joes?

Posted on: 2013/1/7 15:49
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Re: Buon Italia at Trump Plaza
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True, there is really almost no foot traffic over there right now. It would have to be a destination type of place that would draw people from the Grove Street area, Paulus Hook, etc and even beyond.

Posted on: 2013/1/7 15:22
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Re: Buon Italia at Trump Plaza
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I think that is the total available space for retail and will be divided up among multiple retailers. I don't think they are looking for just one tenant. It says "1 Space Available",but they will divide with a minimum of 2,100 sf. Making a profit after paying $50k a month in rent in an area with no foot traffic and little parking would be quite a feat.

Maybe Whole Foods could do it.


Posted on: 2013/1/7 14:47
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Re: Buon Italia at Trump Plaza
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$600,000 a year for rent. I guess whatever ends up there won't be complete crap. However, I've been surprised before.

Posted on: 2013/1/7 14:10
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Re: Buon Italia at Trump Plaza
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Quote:

Seagull wrote:
I found this link:

http://www.loopnet.com/Listing/17668257/88-Morgan-Jersey-City-NJ/

It looks like Buon Italia is officially NOT going to occupy this space. I guess they should take that "Buon Italia COMING SOON!" sign down!

This would have been a great addition to the area food shopping mix. Maybe Eataly took a bite out of the Chelsea store's profits.

Posted on: 2013/1/7 7:57
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Re: Buon Italia at Trump Plaza
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I found this link:

http://www.loopnet.com/Listing/17668257/88-Morgan-Jersey-City-NJ/

It looks like Buon Italia is officially NOT going to occupy this space. I guess they should take that "Buon Italia COMING SOON!" sign down!

Posted on: 2013/1/6 23:17
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Re: Buon Italia at Trump Plaza
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fruitsnack wrote:
Has anyone in the Trump building seen any progress on this?

I call up the store in Manhattan and was told it would be a year from now.

Posted on: 2012/5/16 13:32
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