In a setback for the developer Gary Barnett, the Diamond Dealers Club, a mainstay of the diamond district, has renewed its lease at its longtime home, 580 Fifth Avenue, near 47th Street. Mr. Barnett had hoped to lure the club to his planned 35-story tower on 47th Street, which he said would revitalize the city’s diamond and jewelry industry.
In November, the developer got a $49.6 million subsidy package from the city, to the annoyance of the owners of 580 Fifth and other landlords. Jacob Banda, president of the diamond club, said yesterday that in the end he had doubts about whether Mr. Barnett’s tower would materialize. He said his landlord offered him a good deal on a 10-year lease, so he took it. Mr. Barnett insisted yesterday that his project was going forward, and he said the club had made “a major, major mistake.”
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2 Responses
Mr. Barnett said the club made ‘a major mistake’….
please!!!! Like he really cares if the DIAMOND CLUB is gona lose out!!!
If his project is ‘going forward ‘ as he says, then take the loss wiht diginity and dont insist on playing the ‘reverse physchology card’.
im not understanding whats going on over here.? would somebody explain it to me ???