PROPOSED APPROACH IN RELATION TO THE EMPIRE STATION REDEVELOPMENT, RFP, AND RFEI
Our financial models show that The Halo outperforms conventional real estate concepts that would solely explore typical retail and office space in terms of the economic value in excess that the Complex will generate to help fund the renovation of the station. However, the construction of The Halo does not preclude the advancement of a conventional redevelopment plan of the Complex. In other words, our concept can be combined with any plan for the upper and lower levels of the proposed Empire Station Complex.
Thus, at the discretion of the Project Sponsors, The Halo can be implemented either (i) in association with the winning team or (ii) as a separate development, in either case to be built in parallel, before, or after redevelopment of the Empire Station complex.
The Halo can be built (a) over the Farley building, (b) over the original Penn Station site, or (c) over public right-of-way (e.g. 33rd Street) and, following Project Sponsors’ decision on (i) or (ii) above, The Halo project shall be integrated and customized to the winning RFP and/or RFEI proposal.
Brooklyn Capital Partners has already identified strong interest in The Halo from other expected respondents and large corporate and financial interests in the U.S. and internationally, but we deliberately decided to respond
independently to this RFEI/RFQ so as to give Project Sponsors maximum flexibility (A) to locate this facility in either site and (B) to promote the combination of this unique concept with the winning respondent for the balance of the Empire Station Complex.
Likewise, we purposefully did not select a contractor for our team because we want to give Project Sponsors the maximum flexibility to choose the one(s) that will be most qualified and best suited to rebuild the train station, the core interest of this solicitation.
Should Project Sponsors want us to complete it independently, we will immediately provide supplemental information on how we would expand our team with lead players of the capital markets and the development
& construction industry that are currently awaiting the Project Sponsor’s reaction to this unprecedented and unique concept.
The revenue stream of our proposal is significant, probably greater than any other new revenue stream currently conceived for the station complex. And given the originality of the proposed concept and the need to secure intellectual property rights to this independent offer, BCP has patents pending related to our approach.