From the Times Ledger:
A lawyer for a Manhattan firm announced that the Shops at Atlas Park will be sold at a foreclosure auction sometime in early October. But despite the problems renting out the stores in the Glendale shopping center, Paul Millus of Snitow, Kanfer, Holtzer & Millus LLP said he is confident the property can have a successful rebirth.
“There is an expressed interest from various companies in the premises,” Millus said.
Millus is the court-appointed receiver for Atlas Park, which is a 21-acre mall at 80-00 Cooper Ave. in Glendale, and filed for Chapter 11 bankruptcy protection from creditors in January 2009. He was appointed receiver in March 2009. As the receiver, he is overseeing the mall’s operations.
“I essentially sit in as the CEO,” he said.
This means that even though Atlas Park is in foreclosure, the stores will remain open during the proceedings. More than half the retail spots in the park are open, Millus said.
Atlas Park’s website listed more than 50 stores as open or opening.
Millus said Atlas Park has debt of about $125 million. He could not estimate what price the property would bring at auction and would not say which potential bidders were interested, but he contended the location made it an ideal purchase.
“What we have here is a new beginning for Atlas Park that will take place in short order,” he said.
Saturday, September 18, 2010
October auction for Atlas Park
Posted by Queens Crapper at 1:58 AM
Labels: Atlas Park, auctions, Glendale, lawyers
"He (Millus) contended the location made it an ideal purchase."
has something changed in Glendale? It was "Location" (And poor planning) that sunk Atlas in the first place. Why would any one think any different?
Put a Walmart there. People will come from miles around. If these people want to see a profit, Walmart is the way to go. They have cheap medical prescriptions for Seniors.
Here comes the housing and community facilities to serve them.
The only things that hamper success in Atlas Park is paid parking and lousy stores. If you think it's a bad location, you should explain yourself - it's within walking distance for large portions of Glendale & Middle Village and short ride from Maspeth, Woodhaven, and Ridgewood, near Metropolitan Ave, the Jackie Robinson, and Woodhaven Blvd which connects it even more. Put a J Crew, an Old Navy, and a sporting apparel store and they'd be swimming in loot.
I drive to atlas park from flushing to go to the movies. The theater is nicer there. Nothing else there draws me though.
The Theaters and the Restaurants are a big draw for the public. The Borders is also A-1. Add a supermarket, like Stop and Shop or a Super Walmart (with food) and it would be very profitable. The location is accessable from all points in Queens. Give us something we don't already have. Walmart would be very desirable.
no wal-marts. I dont want the types of people it would draw to the area.
The Walmart type people would be an improvementto the neighborhood. Stop being such a snob. Shoppers would come from all over Queens and Brooklyn. Nothing wrong with Walmart shoppers.
"The Walmart type people would be an improvementto (Sic) the neighborhood. Stop being such a snob. Shoppers would come from all over Queens and Brooklyn. Nothing wrong with Walmart shoppers."
Actual photos of Wal-mart shoppers in NY State
"The Wal-mart type people would be an improvement to the neighborhood. Stop being such a snob. Shoppers would come from all over Queens and Brooklyn. Nothing wrong with Wal-mart shoppers."
and don't forget this from wal-mart shoppers:
Wal-Mart would devastate the mom & pop stores in the adjacent area and traffic would be horrendous. Let’s skip the Wal-Mart and keep our neighborhood.
"If you think it's a bad location, you should explain yourself - it's within walking distance for large portions of Glendale & Middle Village and short ride from Maspeth, Woodhaven, and Ridgewood, near Metropolitan Ave, the Jackie Robinson, and Woodhaven Blvd"
First of all I don't have to explain myself to anyone. The Failure of Atlas speaks for itself.
The target customers for atlas were never the immediate surrounding areas. Damon's customer base was to be Forest Hills and Manhattan, yes Manhattan. It was Damon's belief that people from the city would jump at a chance to shop in his white elephant. He did a demographic survey and the hired company reported that "High End" shops would do well with his target customers. An idiot could see that Forest Hills And Manhattan residents would never come to Glendale to take a crap let alone shop.Even Hemmerdinger's radio spots advertised the location as "Just outside Forest Hills" He's a dope. Wal-mart won't buy the property because it doesn't fit their business model. So Glendale is stuck with this tumor of a "Mall"
Rumor is Atco is planning to repurchase it, we'll see...
Let's proceed cautiously on this regarding any concessions, perks, extras, variances, or amenities from the city--that is, the taxpayers.
Investors will buy this if they could make up the money out of our pockets. They will be looking for residential/condo approval.
Why do some pols seem so eager to help with this? $$$$$$.
No wal mart. This neighborhood is trashy enough. Go to metro mall if you want a wall mart. Idiots.
The place does not need a wal mart. It need middle of the road stores like a Gap, petco, victoria secret, maybe even a restoration hardware. You put in a wal mart and it will turn the neighborhood into a ghetto.
Turn it into a roller derby arena.
"Let's proceed cautiously on this regarding any concessions, perks, extras, variances, or amenities from the city--that is, the taxpayers."
Why "Cautiously" Let's proceed aggressively and stop this BEFORE it happens
A Walmart there will the put the nail in the coffin to any small business that's actually left and solvent in that neighborhood.
Walmart = Unemployment + Poverty for the middle class small business owner.
I hope the Mall survives, it's in our areas best interest vs other potential it has to remain as a small mall.
If not I hope Walmart considers this as a viable site.
Outlets, Outlets, Outlets..that's the only thing that will draw people to Glendale!
"Outlets, outlets, outlets"
The thing that drew folks to Glendale to live, originally was a quiet almost suburban feel to the area, until the leech Hemmerdinger family "Created" the Mall.
The bottom line is that there is too much new retail space in the area and no one has $$$$$. Oh yeah,real upscale when you bring the Q45 bus in.
If you ran a retail chain, why would you put an outlet store in Queens?
I guess an education wasnt a priority in your life.
Atlas Park is one of the only worthwhile places to shop in Queens. The stores are lovely and it's a nice place to spend the day, and it's nice to have someplace other than Forest Hills to shop. What's the other shopping option -- Queens Center? That place is truly revolting. I understand that, from a business standpoint, Atlas Park has been a disaster, but it's been a relief to have someplace to shop in Queens that (a) isn't on Queens Blvd (one of the ugliest thoroughfares I've ever seen) and (b) has stores that aren't junk stores. As for parking, it's pretty reasonable -- but you don't have to drive there; more than one bus route goes directly there. And the stores are hardly "upscale" -- but they don't sell garbage, either. But if Queens residents prefer cheap (and I mean that in every sense of the word), that's what they should get. Still, it would be gratifying if they'd be willing to lift themselves up out of the gutter just a little bit...
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