The project will feature a specialty foods marketplace andeducation center, a boutique hotel, and roof top restaurant andbar. Under the terms of the agreement, the developer will lease theproperty for 49 years, with five 10-year renewals. The project willcreate approximately 560 construction jobs and more than 150permanent jobs and result in over $75 million in revenue for theCity over 30 years, according to a statement by the NYCEDC.
"The proposal by The Dermot Co. and Poulakakos family providesan excellent project for this unique building," says NYCEDCpresident Robert Lieber. "It will preserve the historic features ofthe building, bring the grandeur of the second floor Great Hallback into the public domain and create a wonderful waterfrontdestination for all New Yorkers and visitors to enjoy."
The restored Great Hall Lieber mentioned will be open to thepublic and is envisioned to become one of New York City's greatpublic spaces, according to the NYCEDC. During the day, it will beenlivened by a specialty foods marketplace and education center,which will be dedicated to furthering the development oflocally-based specialty foods businesses. At night, the Great Hallwill be available on a limited basis as an event space.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
