Whom You Know: STATEMENT OF MAYOR MICHAEL R. BLOOMBERG ON APPROVAL OF MANHATTAN BOROUGH BOARD FOR SALE OF TWO CIVIC CENTER BUILDINGS Sale of Two-City Owned Buildings for $250 Million Reduces Nearly 600,000 Square Feet of Underutilized Office Space City to Surpass 2010 State of the City Goal of Decreasing Office Space by 1.2 Million Square Feet

Thursday, July 18, 2013

STATEMENT OF MAYOR MICHAEL R. BLOOMBERG ON APPROVAL OF MANHATTAN BOROUGH BOARD FOR SALE OF TWO CIVIC CENTER BUILDINGS Sale of Two-City Owned Buildings for $250 Million Reduces Nearly 600,000 Square Feet of Underutilized Office Space City to Surpass 2010 State of the City Goal of Decreasing Office Space by 1.2 Million Square Feet

“Today’s vote by the Manhattan Borough Board to proceed with the sales of 49-51 Chambers Street and 346 Broadway – the largest real estate transaction the City has ever conducted with a minority-owned business enterprise – is a welcome affirmation of support for the Civic Center project, which will generate more than $200 million for the City in net revenue, operating expense savings and deferred capital costs. The sales will ensure the restoration of two landmarked buildings and create an important digital arts and media space dedicated to the community. In addition, with the approval of these sales, the City has reduced its office footprint by more than 1.17 million square feet since 2010 and now will exceed our overall goal of reducing 1.2 million square feet by 2014. I want to thank Borough President Scott Stringer and Council Member Margaret Chin for their support of this important project that continues the revitalization of Lower Manhattan, one of New York City’s most dynamic neighborhoods.”

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