24 Hour Local Real Estate News

Rechler Criticizes Rival's Coliseum Proposal

UNIONDALE, NY-Scott Rechler of RXR Realty says that rival Bruce Ratner‘s proposal to redevelop the Nassau Coliseum here is “smoke and mirrors” and lacks substance.

Rechler of RXR Realty has agreed to join on as a minority partner in Madison Square Garden‘s $250-million bid for the Nassau Coliseum project, which includes building a 150,000 square-foot, mixed-use entertainment hub, according to the New York Post.

The executive of Long Island’s largest real estate company took a swipe at Forest City Ratner’s Atlantic Yards project in Brooklyn. “I’m not looking to make war with these people,” Rechler tells the newspaper, “but they built an arena in Brooklyn that was supposed to be one part of a much bigger development — and they haven’t gotten that development done, at the end of the day.”

Forest City Ratner and the Madison Square Garden proposals are considered frontrunners for the project. Nassau County Executive Edward Mangano is expected to pick a winning proposal in July. See story in the New York Post.

Copyright 2018. ALM Media Properties, LLC. All rights reserved.