Atlantic Yards Financials 'Not Enough'

Sarah Ryley of The Brooklyn Eagle beat the rest of New York's media to the punch with her article concerning reaction to the three pages of financials released on Atlantic Yards. The long-awaited Empire State Development Corporation (ESDC) financial analysis, provided by developer Forest City Ratner Companies, projects $571 million in “total investment cash flows” by the year 2015.

“A handful of three faxed pages of a chart or two is insignificant. And we’re not interested in drips and drabs,” said Assemblyman James Brennan of Park Slope, according to the Eagle article.

The estimate has some conspicuous omissions such as the profits from the planned 180-room hotel that would be housed in the project’s centerpiece building, “Miss Brooklyn.” See the Eagle for details.