Skip to main content

How many suites does the Barclays Center have? "more than 90," after The Vault was converted

So, how many suites does the Barclays Center have? The number is actually a bit fuzzy, but the history is this:
  • 170: a significantly overoptimistic number in December 2006 (before arena was named)
  • 130: a reduction in May 2008, while it was still a Frank Gehry arena
  • 100: a reduction in September 2009, after the arena was redesigned and downsized
  • 105: a slight increase in December 2009, as arena bonds were sold
  • 104: a tweak down in March 2010 upon arena groundbreaking
  • 101: a tweak down in September 2012 for arena ribbon-cutting
  • 90 or 94(?): a decrease after The Vault was converted to the Billboard Lounge
  • 90: number reported in an August 2016 report to potential bond buyers upon refinancing
  • 96: number reported in a separate part of document presented to bond buyers
  • "more than 90": current number presented
So what's the discrepancy? Apparently, the new Billboard Lounge "studios" are also referred to as suites.

Then again, the 11 suites once in The Vault arguably didn't qualify as suites, which are supposed to be private spaces including seats. Associating lower bowl tickets with a "suite," as with both The Vault and the Billboard Lounge "studios" is stretching it. So the arena operators--no surprise--have been a bit slippery.

December 2006, from KPMG report: 170


Was this number realistic?

Note that KPMG suggested that, "[g]iven the competitiveness of the market, both the total number of suites and the average price per suite... appear to be on the high end." Perhaps that was the numbers was cut within two years.

May 2008, from Forest City Ratner press release: 130

The press release did not acknowledge that this was a decrease in number of suites from previous estimates.

But this wasn't the only change: the arena would be downsized in November 2008, with a new architect, Ellerbe Becket, and later a new "skin" designed by SHoP.

September 2009, from Barclays Center press release announcing new architects: 100

December 2009, Official Statement to potential bond buyers: 105

February 2010, Barclays Center press release announcing sale of suites: 104


March 2010, Forest City press release on arena groundbreaking: 104


February 2012, Barclays Center press release announces 11 "exclusive ultra-luxurious suites inspired by cultural icon JAY Z"

September 2012, Forest City press release on arena ribbon-cutting: 101


August 2015, Barclays Center press release on Billboard Lounge

The press release mentions private hospitality studios" but doesn't call them suites. Nor did it say that the Billboard Lounge would replace The Valut, but NetsDaily confirmed that, adding:
There was no mention in the release of what will happen to the 11 suites that surrounded the bar at "The Vault" but a Barclays official said some will remain and be updated to become "private hospitality studios." Others will be incorporated into the "Billboard Lounge" space, which will be larger than "The Vault's" lounge. Billboard in its story on the lounge noted the presence of "private suites nestled in the back" of the lounge.
"The Vault," located next to the Calvin Klein Courtside Club. It had no access to the court, but those who leased the suites received courtside seats as part of their arrangement.
One of "The Vault suites was reserved for use by the arena's two owners, Mikhail Prokhorov and Bruce Ratner, while others went for $550,000 each per year with a three year guarantee. Jay-Z leased one of the 11 but it's been reported that the arena never sold out the suites.
Jay-Z might have "leased" a suite, but it was free.

August 2016, Official Statement to bond buyers: 96


August 2016, consultant's report within Official Statement: 90


August 2016, consultant's report within Official Statement: loss of The Vault

Current Barclays Center page on premium seating: 90+ suites



Current Barclays Center page describes "Billboard Lounge Studios" with 8 tickets 


Current Barclays Center page describes "Billboard Suite" though 8 tickets in Lower Bowl



Comments

Popular posts from this blog

Barclays Center/Levy Restaurants hit with suit charging discrimination on disability, race; supervisors said to use vicious slurs, pursue retaliation

The Daily News has an article today, Barclays Center hit with $5M suit claiming discrimination against disabled, while the New York Post headlined its article Barclays Center sued over taunting disabled employees.

While that's part of the lawsuit, more prominent are claims of racial discrimination and retaliation, with black employees claiming repeated abuse by white supervisors, preferential treatment toward Hispanic colleagues, and retaliation in response to complaints.

Two individual supervisors, for example, are charged with  referring to black employees as “black motherfucker,” “dumb black bitch,” “black monkey,” “piece of shit” and “nigger.”

Two have referred to an employee blind in one eye as “cyclops,” and “the one-eyed guy,” and an employee with a nose disorder as “the nose guy.”

There's been no official response yet though arena spokesman Barry Baum told the Daily News they, but take “allegations of this kind very seriously” and have "a zero tolerance policy for…

Behind the "empty railyards": 40 years of ATURA, Baruch's plan, and the city's diffidence

To supporters of Forest City Ratner's Atlantic Yards project, it's a long-awaited plan for long-overlooked land. "The Atlantic Yards area has been available for any developer in America for over 100 years,” declared Borough President Marty Markowitz at a 5/26/05 City Council hearing.

Charles Gargano, chairman of the Empire State Development Corporation, mused on 11/15/05 to WNYC's Brian Lehrer, “Isn’t it interesting that these railyards have sat for decades and decades and decades, and no one has done a thing about them.” Forest City Ratner spokesman Joe DePlasco, in a 12/19/04 New York Times article ("In a War of Words, One Has the Power to Wound") described the railyards as "an empty scar dividing the community."

But why exactly has the Metropolitan Transportation Authority’s Vanderbilt Yard never been developed? Do public officials have some responsibility?

At a hearing yesterday of the Brooklyn Borough Board Atlantic Yards Committee, Kate Suisma…

Barclays Center event June 11 to protest plans to expand Israeli draft; questions about logistics

At right is a photo of a poster spotted in Hasidic Williamsburg right. Clearly there's an event scheduled at the Barclays Center aimed at the Haredi Jewish community (strict Orthodox Jews who reject secular culture), but the lack of English text makes it cryptic.

The website Matzav.com explains, Protest Against Israeli Draft of Bnei Yeshiva Rescheduled for Barclays Center:
A large asifa to protest the drafting of bnei yeshiva in Eretz Yisroel into the Israeli army that had been set to take place this month will instead be held on Sunday, 17 Sivan/June 11, at the Barclays Center in Downtown Brooklyn, NY. So attendees at a big gathering will protest an apparent change of policy that will make it much more difficult for traditional Orthodox Jewish students--both Hasidic (who follow a rebbe) and non-Hasidic (who don't)--to get deferments from the draft. Comments on the Yeshiva World website explain some of the debate.

The logistical questions

What's unclear is how large the ev…

Atlanta's Atlantic Yards moves ahead

First mentioned in April, the Atlantic Yards project in Atlanta is moving ahead--and has the potential to nudge Atlantic Yards in Brooklyn further down in Google searches.

According to a 5/30/17 press release, Hines and Invesco Real Estate Announce T3 West Midtown and Atlantic Yards:
Hines, the international real estate firm, and Invesco Real Estate, a global real estate investment manager, today announced a joint venture on behalf of one of Invesco Real Estate’s institutional clients to develop two progressive office projects in Atlanta totalling 700,000 square feet. T3 West Midtown will be a 200,000-square-foot heavy timber office development and Atlantic Yards will consist of 500,000 square feet of progressive office space in two buildings. Both projects are located on sites within Atlantic Station in the flourishing Midtown submarket.
Hines will work with Hartshorne Plunkard Architecture (HPA) as the design architect for both T3 West Midtown and Atlantic Yards. DLR Group will be t…

Forest City acknowledges unspecified delays in Pacific Park, cites $300 million "impairment" in project value; what about affordable housing pledge?

Updated Monday Nov. 7 am: Note follow-up coverage of stock price drop and investor conference call and pending questions.

Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.

The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.

While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…

Not quite the pattern: Greenland selling development sites, not completed condos

Real Estate Weekly, reporting on trends in Chinese investment in New York City, on 11/18/15 quoted Jim Costello, a senior vice president at research firm Real Capital Analytics:
“They’re typically building high-end condos, build it and sell it. Capital return is in a few years. That’s something that is ingrained in the companies that have been coming here because that’s how they’ve grown in the last 35 years. It’s always been a development game for them. So they’re just repeating their business model here,” he said. When I read that last November, I didn't think it necessarily applied to Atlantic Yards/Pacific Park, now 70% owned (outside of the Barclays Center and B2 modular apartment tower), by the Greenland Group, owned significantly by the Shanghai government.
A majority of the buildings will be rentals, some 100% market, some 100% affordable, and several--the last several built--are supposed to be 50% market/50% subsidized. (See tentative timetable below.)

Selling development …

For Atlantic Yards Quality of Life meeting Sept. 19, another bare-bones agenda (green wall?)

A message from Empire State Development (ESD) reminds us that the next Atlantic Yards/Pacific Park Quality of Life Meeting--which aims to update community members on construction and other issues--will be held:
Tuesday, September 19, 2017 @ 6 pm
Shirley Chisholm State Office Building
55 Hanson Place
1st Floor Conference Room
Brooklyn, NY 11217 The typically bare-bones, agenda, below, tells us nothing about the content of the presentation. One thing to look for is any hint of plans to start a new building on the southeast block of the project by the end of the year.

If not, ESD is supposed to re-evaluate a longstanding request from project neighbors to move back a giant wall encroaching on part of Dean Street between Carlton and Vanderbilt avenues. It's said to enclose construction activity, but, in recent months, has significantly served to protect worker parking.

Also, by the way, if you search for Atlantic Yards on Google or the ESD website, it leads to this page for the Atlantic Ya…