On the Market: Prokhorov to Buy Out FCR’s Barclays Stake; Related’s EB-5 Lobbying

Adiran Kinloch/flickr.

Adiran Kinloch/flickr.

Russian billionaire Mikhail Prokhorov has reached a deal with Forest City Ratner to buy the developer out of its share of the Brooklyn Nets and Barclays Center, which will allow him to take sole ownership of the team and the arena, according to BloombergMr. Prokhorov currently owns 80 percent of the team and 45 percent of the arena. Bloomberg points out that earlier this year, both had attempted to sell minority stakes, but the NBA makes it difficult to do so if one does not have sole ownership of a team.

Related, which raised some $600 million in EB-5 funding for Hudson Yards—the program that grants green cards to foreign nationals who invest in U.S. developments—spent $730,000 last year lobbying for the program’s right to exist, The Real Deal reports.

A plan to expand a square in East Flushing, Queens has divided the neighborhood along ethnic lines, pitting Koreans, who favor the expansion, against whites and Hispanics, who argue that the area can ill afford to lose the parking that would be sacrificed from the expansion, according to Crain’s. A particular sticking point was a suggestion in Korea Times that the park be called Korea Town Square Plaza.

The city seems to be reneging on a decades-old promise to provide parks at three large construction sites in Greenwich Village and Soho that cover shafts to the city’s underground drinking tunnel project, DNAInfo reports. There is, furthermore, scant information as to why not: “DEP did not respond to inquiries from DNAinfo New York for more than three months, but after City Hall officials intervened, a spokesman, who refused to be named, said, ‘DEP is involved in ongoing discussions with the community board and the council members regarding the future use of the three water tunnel shaft sites.’ ”

Meanwhile, Jimmy van Bramer discusses LIC’s impending rezoning with Crain’s, underscores their desire not to see 40- and 50-foot  towers rise over the Sunnyside rail yards (without which, he notes, the rail’s redevelopment would likely be economically unfeasible).

Authentiques Past and Present, a Chelsea vintage shop that specializes in Christmas ornaments, really hits its stride in December, according to The New York Times.

Home spas that rival professional ones are making their way into more and more high-end house, The Wall Street Journal reports, describing the home of a woman with a steam shower for 10 and a chromotherapy tub with equipment for oxygen facials who threw a high school graduation party for her two sons with 5 massage tables. Odd.

Finally, a painted bunting, a type of cardinal which DNAInfo reports is nearly as rare as unicorn in the Northeast, has been spotted in Prospect Park.

On the Market: Prokhorov to Buy Out FCR’s Barclays Stake; Related’s EB-5 Lobbying