Bloomberg should keep grabbing from the state

New York State recently gave up control of Governors Island, a 172-acre site just off the Manhattan and Brooklyn shores. Under Bloomberg’s control people are more optimistic than ever that the former military base will be converted into incredible park land, commercial developments and a possible satellite campus for New York University.

Should more State-controlled enterprises like the MTA, the City University of New York, and Battery Park City be under the control of Bloomberg and New York City? The answer is that in selective cases and under the right conditions the City is better suited to runs these entities than the State. New York Magazine’s recent article titled Mike’s Empire does a good job presenting the question.

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Another great piece by Thomas Friedman on the need to promote new/small businesses

In order for our economy, and New York City’s commercial real estate market to fully rebound there needs to be an increase in jobs. The New York Times columnist Thomas Friedman explains the interesting statistic that over the past 35 years any job growth was created by businesses that have existed for five years or less. Long established companies do not add new jobs to the economy, therefore the government’s recovery efforts should be spent on promoting startup businesses. I recommend that the government provides even greater incentives for small businesses and startups to purchase their own office space. 

http://www.nytimes.com/2010/04/04/opinion/04friedman.html

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LeBron in NYC – Think of the implications

I believe that there would be a tremendous impact on real estate values in the Penn Plaza area if LeBron James were to play for the New York Knicks. According to this recent article on ESPN.com it seems like this dream is inching closer to becoming a reality. Each of the 55 home games (assuming the Knicks make it to the post season) will be a frenzy for New York fans. I imagine that the area’s retail, which was once dominated with low-end stores, will be filled with exciting new restaurants and bars and will bring a thriving new economy to the area. MSG will probably get a long overdue facelift as well.

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