![]() |
Charles Wang Sells Long Island Marriott For 66 million |
New York Islander Fan Central | 9/27/2014 06:12:00 PM |
Charles Wang
|
Marriott Hotel
|
Scott Rechler
Long Island Business News Reported 9/25/14 that the hotel was sold for 66.2 million.
Interesting how the foreclosure made big headlines, not the sale? Either way Charles Wang is out of the hotel business at a loss from the 90 million purchase price in 2005. The hockey business is part of this article and the hotel was operating at a profit the last three years under Wang according to the documentation. The value of the property itself declined for the lack of a development.
Note-Scott Malkin's name is in some articles where Starwood is mentioned, but not with any stake or affiliation with the company. Bruce Ratner & Current Msg CEO Tad Smith also have past fringe associations with this company.
NYIFC Comments: Part of owning the hotel included the walk of champions abatement. The hotel remaining open during Ratner's possible renovations could be an issue for them. Who's to say how this effects how the Islanders/Sound Tigers do business with the hotel or if using it was part of the purchase price. An AHL home team would likely make heavy use of the facility.Rechler sold his half-interest in the property to Wang at the end of 2009 after the pair’s Lighthouse mega-plan to redevelop the Coliseum’s 77-acre parking lot fizzled. RXR still gets $566,000 a year for the hotel’s ground lease, one of 18 ground leases the company bought from Nassau County for $37.5 million in 2011.Wang’s firm, CBW Hotel, had been making interest-only loan payments on the Marriott’s mortgage until February 2013, when the payments stopped. The loan’s special servicer, C-III Asset Management, started the foreclosure process July 29, according to documents from Trepp, a Manhattan-based commercial mortgage analyst, which also confirmed the sale price to Starwood.Earlier this month, the hotel’s new owner assumed the tax breaks that the Town of Hempstead Industrial Development Agency had given to Wang and Rechler that expire in 2016. In exchange, Starwood pledged to retain the hotel’s 260 full-time and 72 part-time employees for the next two years, according to IDA documents.
Interesting how the foreclosure made big headlines, not the sale? Either way Charles Wang is out of the hotel business at a loss from the 90 million purchase price in 2005. The hockey business is part of this article and the hotel was operating at a profit the last three years under Wang according to the documentation. The value of the property itself declined for the lack of a development.
Note-Scott Malkin's name is in some articles where Starwood is mentioned, but not with any stake or affiliation with the company. Bruce Ratner & Current Msg CEO Tad Smith also have past fringe associations with this company.
![]() |
New York's First Goal/Win In New York City |
New York Islander Fan Central | 9/27/2014 08:44:00 AM |
Sorry folks, I know 3-1 record, but aside from some individual performances (Nelson, Johnson) I'm not seeing anyone step up here and force management to give them a spot. (credit to Pulock on his goal/Reinhart
shot that led to a goal Wednesday)
They were dramatically outplayed against a team full of mediocre tryout players the final two periods on Friday, with a lot of defensive turnovers and some of our top offensive players skating in their third games in five days. Our team also had it's best defender Hamonic dressed.
The NYC media made it's cameo to take their obligatory shots at the Barclay's Center. Mr Yormark was honest about seating.
Thirteen days. A lot of time to find answers. If Garth Snow gave Grabovski thirty million dollars to change positions something is very wrong here in teams management. He's played every game of his career at center but nine of them, that's where he should play.
They were dramatically outplayed against a team full of mediocre tryout players the final two periods on Friday, with a lot of defensive turnovers and some of our top offensive players skating in their third games in five days. Our team also had it's best defender Hamonic dressed.
#isles Our team had most of it's top players dressed and barely generated a chance the final two periods against Gomez, Fedotenko, Tootoo.
— NYI Fan Central (@nyifancentral) September 27, 2014
The NYC media made it's cameo to take their obligatory shots at the Barclay's Center. Mr Yormark was honest about seating.
Thirteen days. A lot of time to find answers. If Garth Snow gave Grabovski thirty million dollars to change positions something is very wrong here in teams management. He's played every game of his career at center but nine of them, that's where he should play.
![]() |
New York Notables |
New York Islander Fan Central | 9/23/2014 08:11:00 AM |
Andrew Barroway
|
Barclay's Center
|
Blake Comeau
|
Bruce Ratner
|
Jack Skille
|
John Tavares
|
Josh Bailey
|
Matt Martin
|
Peter Karmanos
Not much to write about hockey, double-header preseason games with a team getting on a plane that same morning are almost unheard of much less playing one of those games that afternoon.
The dominating double-header sweep of Ottawa on 9/29/13 ultimately proved nothing to close the 2013-14 preseason. Nice to win games, and no doubt Jack Skille finding an open net thanks to Cizikas, Colleberg, Nelson, Bailey, and Grabovski getting some goals sure do not hurt their confidence.
I'm warming up to the idea of Josh Bailey (who was the playoff left wing with Tavares/Boyes) becoming the first line left wing but it has to be the final position change, who knows if it's a showcase or a one game thing?
Blake Comeau was a nice kid who kept changing positions for Scott Gordon, he became a perimeter player who could not score. A year ago Bailey said he's fine playing anywhere, and that he could make the switch to the right wing. I wrote back then it's on him.
Bergenheim was asked to change positions he flat out said no.
History says you keep changing someone's position all you end up with is a confused player.
********************************
So where does John Tavares not play the Nassau Coliseum or Barclay's center because the core players making the club will be placed together toward the end of the preseason?
Likely both, but if I'm coaching the Barclay's center ice is not where I want Tavares playing coming off a serious knee injury.
There are about twenty players who did not travel Monday, who no doubt would like to dress for a game. (Matt Martin)
After Friday there are three off days.
Bridgeport has not announced an AHL preseason game.
********************************
Peter Karmanos seems to agree with Charles Wang's way of selling, and is looking into a sale of the Hurricanes. His comments about Forbes not being credible were of course spot-on as to the value of franchises considering a member of their board is part of the group giving Wang substantially more.
I read Wang's legal response to Barroway. So on one hand Barroway writes in his complaint he felt he had an agreement 3/10/14 but in another letter much later he acknowledges Wang does not have to sell him the team?
These are all Mr Barroway's own written words contradicting himself.
********************************
So Bruce Ratner said in January 2014 he was submitting his zoning plan to the TOH shortly, and now he's waiting until the end of the year, knowing he said he needs IDA financing to do this project?
Is he expecting Murray approval in less than seven months for anything?
Knowing Kate Murray's history, will she stall this long enough to force Ratner to walk away from the project which he could do at any time? If Murray wants Dolan's Msg plan, and his Newspaper creates a referendum-like circus to stall things that is exactly what will happen.
And Dolan/Msg did a fantastic job with the Los Angeles Forum.
Ratner a year ago put on a dazzling show for the legislature and got a 19-0 vote. He needed over a year to submit plans for a building permit for a bowling alley, restaurants that are only a small footprint around the Coliseum that should not be an issue in Murray's 2010 zoning?
He must have a clue about Kate Murray's history, why did he not have his plans ready for submission on the first day he could submit them so he could ride that support to easy zoning approval?
This is the man who is somehow going to get the NHL/Dolan in that order approve the New York Islanders having two home NHL facilities for regular season games, and somehow get Wang/successors to break the lease in Bridgeport?
Howard Saffan said his Sound Tigers claims were irresponsible at the time. I have seen these long periods of silence/delays forever and not once has something worked out whether it be the Coliseum or the ownerships. It falls apart.
I don't know. Ratner's on Bloomberg News this week doing his video's talking football, finance. His pre-assembled housing units literally attached to Barclay's center is not only shutdown with lawsuits, but perhaps structurally flawed while it sits ten stories high?
The dominating double-header sweep of Ottawa on 9/29/13 ultimately proved nothing to close the 2013-14 preseason. Nice to win games, and no doubt Jack Skille finding an open net thanks to Cizikas, Colleberg, Nelson, Bailey, and Grabovski getting some goals sure do not hurt their confidence.
I'm warming up to the idea of Josh Bailey (who was the playoff left wing with Tavares/Boyes) becoming the first line left wing but it has to be the final position change, who knows if it's a showcase or a one game thing?
Blake Comeau was a nice kid who kept changing positions for Scott Gordon, he became a perimeter player who could not score. A year ago Bailey said he's fine playing anywhere, and that he could make the switch to the right wing. I wrote back then it's on him.
Bergenheim was asked to change positions he flat out said no.
History says you keep changing someone's position all you end up with is a confused player.
********************************
So where does John Tavares not play the Nassau Coliseum or Barclay's center because the core players making the club will be placed together toward the end of the preseason?
Likely both, but if I'm coaching the Barclay's center ice is not where I want Tavares playing coming off a serious knee injury.
There are about twenty players who did not travel Monday, who no doubt would like to dress for a game. (Matt Martin)
After Friday there are three off days.
Bridgeport has not announced an AHL preseason game.
********************************
Peter Karmanos seems to agree with Charles Wang's way of selling, and is looking into a sale of the Hurricanes. His comments about Forbes not being credible were of course spot-on as to the value of franchises considering a member of their board is part of the group giving Wang substantially more.
#isles Canes owner Karmanos would like to sell his team with same terms and price Wang received: http://t.co/DjknUyfuHH
— NYI Fan Central (@nyifancentral) September 23, 2014
#isles "I think the Islanders sale puts to bed anything people want to say about how Forbes values teams," Karmanos said."
— NYI Fan Central (@nyifancentral) September 23, 2014
****************************** I read Wang's legal response to Barroway. So on one hand Barroway writes in his complaint he felt he had an agreement 3/10/14 but in another letter much later he acknowledges Wang does not have to sell him the team?
These are all Mr Barroway's own written words contradicting himself.
********************************
So Bruce Ratner said in January 2014 he was submitting his zoning plan to the TOH shortly, and now he's waiting until the end of the year, knowing he said he needs IDA financing to do this project?
Is he expecting Murray approval in less than seven months for anything?
Knowing Kate Murray's history, will she stall this long enough to force Ratner to walk away from the project which he could do at any time? If Murray wants Dolan's Msg plan, and his Newspaper creates a referendum-like circus to stall things that is exactly what will happen.
And Dolan/Msg did a fantastic job with the Los Angeles Forum.
Ratner a year ago put on a dazzling show for the legislature and got a 19-0 vote. He needed over a year to submit plans for a building permit for a bowling alley, restaurants that are only a small footprint around the Coliseum that should not be an issue in Murray's 2010 zoning?
He must have a clue about Kate Murray's history, why did he not have his plans ready for submission on the first day he could submit them so he could ride that support to easy zoning approval?
This is the man who is somehow going to get the NHL/Dolan in that order approve the New York Islanders having two home NHL facilities for regular season games, and somehow get Wang/successors to break the lease in Bridgeport?
Howard Saffan said his Sound Tigers claims were irresponsible at the time. I have seen these long periods of silence/delays forever and not once has something worked out whether it be the Coliseum or the ownerships. It falls apart.
I don't know. Ratner's on Bloomberg News this week doing his video's talking football, finance. His pre-assembled housing units literally attached to Barclay's center is not only shutdown with lawsuits, but perhaps structurally flawed while it sits ten stories high?
![]() |
The 2014-15 Season Begins For New York |
New York Islander Fan Central | 9/17/2014 05:14:00 PM |
For better or worse it begins 9/18/14.
The first season since 2011-12 that will run on a normal schedule. There will be fewer exhausted teams playing backup goaltenders against the New York Islanders.
And of course our team will have more rest which means less five games in eight day stretches on the road where this team has been above par overall.
The best interviews are always in small town local papers, John Tavares made his thoughts clear on the team/himself.
Ok, now we start getting answers. My preference is we don't have those minor injuries that final week of camp that linger into January.
The first season since 2011-12 that will run on a normal schedule. There will be fewer exhausted teams playing backup goaltenders against the New York Islanders.
And of course our team will have more rest which means less five games in eight day stretches on the road where this team has been above par overall.
The best interviews are always in small town local papers, John Tavares made his thoughts clear on the team/himself.
#isles Tavares expects Isles to show a winning attitude, beginning with exhibition games at Mile One http://t.co/U2XAiUUEjM
— NYI Fan Central (@nyifancentral) September 17, 2014
It's not rocket science for Jack Capuano/coaches, the team gather's Thursday, by Sunday they get on a plane, then start playing games on Monday (twice) Wednesday, Friday.
#isles TSN Radio broadcasting Monday's Islander game vs Senators, does work in New York/US: http://t.co/7TfsEHZ05w …
— NYI Fan Central (@nyifancentral) September 17, 2014
Some players will stand out, others will not. Decisions will be made quickly. Some changes to accommodate roster limits must happen with players on one-way contracts.
#isles Loic Leduc ticketed for Stockton ECHL.not QMJHL Oceanic not happy with decision could come down to agents: http://t.co/7T5ioGP0FI
— NYI Fan Central (@nyifancentral) September 9, 2014
Feel free to throw it back at me Dolan allowed a live telecast from Barclay's. Of course a partnership that shows one preseason game in about twenty years (and only one) to me is not something anyone should be thankful for.
Of course the television schedule by Msg reflects the truth.
#isles Prime Msg telecasts Devils 13, Islanders 2 (increased by one from last year) Devils 13+2 games, Rags 3 Msg2games, NYI 17+2 games partnership?
— NYI Fan Central (@nyifancentral) September 10, 2014
Let's see how many games Mike Bossy actually does, who replaced Ken Daneyko.Ok, now we start getting answers. My preference is we don't have those minor injuries that final week of camp that linger into January.



