{"id":521291,"date":"2022-12-05T05:45:59","date_gmt":"2022-12-05T02:45:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jay-z-joins-times-square-team-bidding-for-prized-nyc-casino\/"},"modified":"2022-12-05T05:45:59","modified_gmt":"2022-12-05T02:45:59","slug":"jay-z-joins-times-square-team-bidding-for-prized-nyc-casino","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jay-z-joins-times-square-team-bidding-for-prized-nyc-casino\/","title":{"rendered":"#Jay-Z joins Times Square team bidding for prized NYC casino"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a242e4424142\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a242e4424142\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/jay-z-joins-times-square-team-bidding-for-prized-nyc-casino\/#%E2%80%9CJay-Z_joins_Times_Square_team_bidding_for_prized_NYC_casino%E2%80%9D\" >&#8220;Jay-Z joins Times Square team bidding for prized NYC casino&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CJay-Z_joins_Times_Square_team_bidding_for_prized_NYC_casino%E2%80%9D\"><\/span>&#8220;Jay-Z joins Times Square team bidding for prized NYC casino&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--columnist inline-module--author\">\n<div class=\"inline-module--author__img\">\n            <img decoding=\"async\" width=\"76\" height=\"69\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png?w=76&amp;h=69&amp;crop=1\" class=\"attachment-nyp_columnist size-nyp_columnist\" alt=\"Steve Cuozzo\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png 76w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png?w=38 38w\" sizes=\"auto, (max-width: 76px) 100vw, 76px\"\/><\/div>\n<\/div>\n<\/aside>\n<p>SL Green and Caesars Entertainment have a glam new partner in their hoped-for Times Square casino \u2014 Brooklyn-born billionaire\u00a0r<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>er and entertainment impresario Jay-Z and his Roc Nation, Realty Check has learned.<\/p>\n<p>The three-way partnership, to be announced at SL Green\u2019s annual investor conference on Monday, marks a dramatic twist in the developer\u2019s and Caesars\u2019 quest\u00a0to launch a casino at SL Green\u2019s 1515 Broadway office tower. (They\u2019re among a half-dozen teams that are also expected to submit proposals to the state for a first full-scale casino in the Big Apple.)<\/p>\n<p>Although details have yet to be spelled out,\u00a0Jay-Z and his team are expected to oversee entertainment programming at 1515 Broadway and at other SL Green properties at the\u00a0\u201cCrossroads of the World.\u201d The city\u2019s largest commercial landlord, SLG has interests in six Times Square properties with a total of more than four million square feet.<\/p>\n<p>In a statement, Jay-Z said, \u201cNew York is the epicenter of culture. We have the opportunity to create a destination at the heart of the true crossroads of the word. My partnership with SL Green and Caesars has all the promise and commitment to economic opportunity, growth and enrichment for the community and everyone that visits the Empire State.\u201d\u00a0<\/p>\n<p>SLG chief executive officer Marc Holliday also shared more specifics about his company\u2019s casino proposal than have ever been disclosed.<\/p>\n<p>Contrary to claims that Caesars Palace Times Square, as it\u2019s to\u00a0be called, would be a mammoth\u00a0gaming mecca that might overwhelm everything around it, the casino would occupy only eight floors in the 54-story tower between West 43d and 44th streets.<\/p>\n<p>None would be the ground floor, which is earmarked\u00a0for non-gaming\u00a0uses including an entrance to the Minskoff Theater, home of \u201cThe Lion King.\u201d<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>\u201cWe are putting theater at ground level,\u201d Holliday emphasized.<\/p>\n<p>The casino\u00a0floors would also house restaurants and\u00a0entertainment uses. Holliday estimated that the\u00a0\u201cboutique\u201d-size casino\u00a0might occupy as little as 250,000 square feet of floor space, a postage stamp compared with typical, sprawling\u00a0gaming floors in Atlantic City or Las Vegas.<\/p>\n<p>A new, approximately 800-room, five-star hotel would be created in the building above them. Holliday said he was \u201cnot yet prepared\u201d to address how the tower\u2019s office tenants, including\u00a0Paramount Global\u2019s headquarters, would be affected.<\/p>\n<p>He\u00a0rebutted claims by the Broadway League, which represents theater owners and producers, that a casino would\u00a0be \u201cdangerous\u201d to\u00a0Broadway theaters. On the contrary, he said,\u00a0SL Green\u2019s proposal is designed to bolster all the businesses around it. Although the League is adamantly opposed to having a casino in its midst, the plan is enthusiastically backed by owners of\u00a0restaurants such as Carmine\u2019s, Bond 45 and Junior\u2019s and by Actors Equity and hotel and construction unions.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1350336602.jpg?w=1024\" alt=\"Jay-Z\" class=\"wp-image-24894165\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1350336602.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1350336602.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1350336602.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1350336602.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Jay-Z and his team are expected to oversee entertainment programming at 1515 Broadway and at other SL Green properties at the\u00a0\u201cCrossroads of the World.\u201d<\/figcaption><figcaption><span class=\"credit\">Getty Images for The Rock and Roll Hall of Fame<\/span><\/figcaption><\/figure>\n<p>According to Holliday, consulting firm AKRF projects that casino visitors will buy\u00a0400,000 net new Broadway tickets annually. Additionally, SLG\/Caesars\/Roc Nation will purchase thousands of tickets directly that will be provided both to casino patrons and to underserved communities.<\/p>\n<p>The casino company\u2019s loyalty program known as Caesars Rewards, which boasts 60 million members worldwide, provides so-called bankable rewards that can be used at hotels, restaurants, theaters and stores beyond 1515 Broadway.<\/p>\n<p>As part of a \u201chalo effect,\u201d Holliday expects the casino will generate seven million more annual visitors to Times Square, generate seven million restaurant meals outside the casino and $166 million in retail purchases outside the casino building.<\/p>\n<p>In SL Green\u2019s view,\u00a0the 1515 Broadway project is needed to\u00a0help arrest a slow, gradual decline in the district\u2019s fortunes.<\/p>\n<p>The slide, Holliday said, doesn\u2019t yet mark a return to the lawless days of the 1970s-early 1990s \u2014 although crime is noticeably up \u2014 \u00a0but rather a slow-but-steady unraveling\u00a0of the commercial energy and sense of security that Times Square had only 10 years ago.<\/p>\n<p>Some major companies such as Skadden and\u00a0EY\u00a0have moved away. Times Square-district office vacancy has soared from 5% in 2012 to nearly 25% today, according to CBRE.<\/p>\n<p>Since Toys \u2018R\u2019 Us left in 2015, more national retailers \u2014 possibly\u00a0including Forever 21 and American Eagle Outfitters \u2014 are also looking to exit, citing a\u00a0decline in the quality of the street environment. Meanwhile,\u00a0more\u00a0taco, doughnut and other types of fast-food joints are moving in.<\/p>\n<p>The state\u00a0will issue a formal request for proposal (RFP) for casino applicants next month. The selection panel will then move some responses to a state siting committee, which is expected to choose one location in the five boroughs before the end of the year.<\/p>\n<p>In addition to SLG\/Caesars\/Roc Nation, wannabe operators are expected to include Related Companies and Wynn Resorts at Hudson Yards, Mets owner Steve Cohen and a casino partner near Citi Field in Queens, and Soloviev Building Company and a casino partner for a complex called Freedom Plaza on First Avenue in the East 30s.<\/p>\n<p>***<br \/>At least one company is moving to Times Square: accounting advisory firm Anchin, Block &amp; Anchin signed a lease for 45,673 at Rudin\u2019s Three Times Square, which\u00a0is undergoing a major, $25 million upgrade program.<\/p>\n<p>Anchin will move from 1375 Broadway in fall of 2023.<\/p>\n<p>Landlord executive vice-president Michael Rudin said that Anchin was \u201cexactly the sort of firm we had in mind\u201d when his company set out to reposition the tower, where Touro College and University System signed for 243,000 square feet earlier this year. About 450,000 square feet remain available.<\/p>\n<p>Anchin was repped by teams from Colliers and Cushman &amp; Wakefield. Rudin was repped in-house.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/04\/jay-z-joins-times-square-team-bidding-for-prized-nyc-casino\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Jay-Z joins Times Square team bidding for prized NYC casino&#8221; SL Green and Caesars Entertainment have a glam new partner in their hoped-for Times Square casino \u2014 Brooklyn-born billionaire\u00a0rapper and entertainment impresario Jay-Z and his Roc Nation, Realty Check has learned. The three-way partnership, to be announced at SL Green\u2019s annual investor conference on Monday,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":521292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/newspress-collage-24879668-1670207749687.jpg?quality=75&strip=all&1670190023&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[28288,136693,40962,75389,80282,70756],"class_list":["post-521291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-casino","tag-12-4-22","tag-jay-z","tag-realty-check","tag-sl-green-realty-corp","tag-times-square"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/521291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=521291"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/521291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/521292"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=521291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=521291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=521291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}