Shulman questions applicant on small business and CVS relocation

Now, the small businesses, you said you've reached out to them or?

Yeah, if I can.

Yeah.

I've got a full brief.

And I actually have a list of all the score footages.

Go for it.

The world divides into CVS and all of what I would call the smaller mom and pops.

And I think you know it better than we know it.

There was extraordinary support for the CVS at the community board subcommittee and in our discussions even with the Fontaine.

So...

You know, this is a business-to-business transaction.

We can't sort of spill their beans.

But for CVS, which I think is primary, we have an ongoing dialogue.

We're now sort of talking to them not only national, but they're focused on the possibility, possibility that they would have a temporary pharmacy nearby during construction.

I mean, let me state a sad fact.

You can't build a building without demolishing what's there.

And that's just reality.

But we are very hopeful that they will come back full swing after that and that during the construction they will at least maintain a pharmaceutical presence.

I don't want to get into trouble with them by sort of telling their story, but that's the approach we've taken.

And in terms of the new building, we don't think that, for example, there'd be an economic barrier for that or, frankly, for the kind of retail that Benenson– you know, everybody came at us to say, well, you know, you're kicking out the–

no, Benenson has worked with all of these tenants, has put them there.

Has made the accommodation mutually beneficial that if they want to stay after their lease expired, stay until we build.

We're not going to build probably for another year-ish, so there's time.

And then in terms of the other, each of the small ones, the question is, do you want to come back?

Let's work on that plan, and we have reached out to them.

If you don't want to come back, can we replicate a similar kind of tenant so that the neighborhood doesn't feel like it lost something?

If they want to come back, are we able to help them find a space during the course of the instruction?

Yeah, and I know that's a particular concern to you.

I will just say this, having done relocations.

The people who decide whether it's residential or commercial, where they want to be, are those people.

And the best we can do is say, stay a little longer.

Maybe here's a little, you know, idea for you.

But we are, I'm happy to say we have a client who really understands.

They've been in the neighborhood.

So, yes.

And, frankly, happy to keep your office informed.

Yeah, my office will help.

And please, if you hear anything to the contrary, we want to know it.

No, absolutely.