NEW YORK CITY-Hunts Point Terminal Market is shunning offers by the Bloomberg Administration and will wait for the next mayor to take office in the hopes of securing a better deal.
The co-op held a 30-year lease that expired in 2011 and a three-year gap lease that ends in May 2014. Despite a seven-year option to stay in the current location at 101 Food Center Drive, negotiations collapsed in part over questions of redevelopment at the property.
“There is no reason to negotiate with the present administration,” Sid Davidoff, the market's attorney, told the New York Post.
The co-op, comprised of 42 business owners, is reportedly considering sites in Westchester County and New Jersey as alternatives. See story in The Real Deal.
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