Chapter 489: Chapter 489: Atlantic Yards
In New York, Long Island, East Hampton, at Charles' beach house, the TV in the living room showed the recently concluded UEFA Champions League final. Arsenal had lost 0:1 to Barcelona at the Stadio Olimpico in Rome, Italy.
Sitting on the sofa, Charles sighed and pouted, clearly discontented. "Damn, La Masia really is something else!"
Due to the time difference, it was night in Italy, but still afternoon in the U.S.
At least, Arsenal had secured the Premier League title in the penultimate match on the 16th, defending their championship, which was a consolation.
"Charles, you watched the game and you look unhappy. Arsenal lost, didn't they?" Ivanka Trump walked over with a file, sitting next to Charles on the sofa.
"This is the Atlantic Yards project documentation. It was initiated by Bruce Ratner in 2004 to develop a large mixed-use complex in Brooklyn, combining commercial and residential areas," Ivanka explained.
Charles took the document and flipped through it. The Atlantic Yards plan included building a multifunctional large sports arena near the site of the former rail yard on Atlantic Avenue in Brooklyn for the New Jersey Nets to move into. Around the arena, 16 buildings would be constructed, including apartments, commercial offices, and luxury hotels.
"The New York government is very supportive and even promised Bruce Ratner's Forest City Ratner Companies a subsidy between 300-400 million dollars," Ivanka explained. "However, the total investment involved in the Atlantic Yards project exceeds 400 million dollars."
"Opponents protest that this project will affect the architectural style of Brooklyn, leading to an inconsistent surrounding environment," Charles was only concerned if Forest City Group could proceed with the construction of the new sports arena quickly.
"Supporters include the New York government and young people in the surrounding area!"
"What do you think?" Charles asked Ivanka.
"The New York State Public Affairs Committee indeed wants to approve the Atlantic Yards project, but it can't ignore the protesters. Forest City can't start construction without approval," Ivanka shook her head.
"The Nets' relocation is the most crucial part of this project. I'm not sure what will happen, but I asked my father. Bruce Ratner has two major lawsuits to resolve.
One lawsuit is against local opposition to the municipal authorities using eminent domain to acquire their land.
The other lawsuit claims that rent-stabilized tenants in the area argue they can't lose their leases without approval from the New York State Division of Housing and Community Renewal."
Charles chuckled, "It's just about money. The first issue is dissatisfaction with land compensation, and the second is fear of rent hikes post-development."
"Is Forest City Group really short on funds right now?"
Ivanka nodded, "Absolutely. My father said Bruce Ratner has even started talking to Russian capital!"
"Russian capital - it's Mikhail Prokhorov, the Russian billionaire this year," Charles said, pulling Ivanka closer.
"This guy took over Russia's largest nickel company, Norilsk Nickel, during the collapse of the Soviet Union, becoming a billionaire. He cashed out 15 billion dollars by selling all his shares in Norilsk Nickel in 2007 and created his private investment fund, Onexim Group."
He was lucky to escape before the financial crisis hit. Just look at how much Roman Abramovich's assets have shrunk!
Since Bruce Ratner is already talking to Russian capital, he must be really desperate. Investing in the NBA by Russian capital isn't simple!
"You've done your homework," Ivanka smiled, kissing Charles on the face. "Mikhail Prokhorov owns the CSKA Moscow basketball club in Russia. It's natural for him to want to buy the Nets! However, if you get involved now, he won't have any advantage. You are the embodiment of the American Dream and an idol for young people."
Charles got up, poured himself a small glass of whiskey, drank it in one gulp, and said, "I need to meet Bruce Ratner to have a good talk."
Knowing that moving the Nets from New Jersey to Brooklyn was just a matter of two or three years, Charles didn't want to miss it!
"Do you believe in Brooklyn's development?" Ivanka asked.
"The sports arena at the intersection of Flatbush Avenue and Atlantic Avenue is well-connected. After the Nets move, it will boost the local economy. Although Manhattanites won't admit a Brooklyn team represents New York, Brooklyn is still New York City, and the fan base isn't as small as New Jersey's!"
"When do you want to meet? Bruce Ratner has been eager to meet you since Dona last contacted him," Ivanka said, resting her chin on Charles' shoulder.
"Let him wait a few more days," Charles checked his watch. It was only the 27th, and he planned to meet Bruce Ratner on the last day of the month.
"Ivanka, you're getting more beautiful," Charles said, embracing the woman and kissing her, then pressing her down on the sofa.
"Sweetheart, there's a charity event in New York tomorrow night. Many politicians will attend, and you need to come with me," Ivanka reminded Charles, holding his face.
"No problem. It seems you've indeed made some contacts with legislators recently," Charles smiled, unbuttoning the woman's shirt.
Then, he fondled her 32D breasts while passionately kissing her.
"By the way, Charles, how's the competition with Comcast Group for GE's NBC Universal coming along?" Ivanka asked, eyes closed, feeling the man's touch like an electric current.
"Still in talks with the GE board and negotiating the value of NBC Universal," Charles responded, savoring the woman's 32D breasts.
"Confident?"
"Of course. I've already commissioned BNP Paribas to acquire the 20% stake in NBC Universal from Vivendi for me!"
Additionally, Charles had meetings with Bank of America, BlackRock, Vanguard, Berkshire Hathaway, and Wells Fargo. Their interest in Capet far exceeded Charles' expectations.
"Hmm," Ivanka, unable to wait any longer, quickly stripped off Charles' clothes.
*****
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