Nicholas Preftakes is Doing Something - But What?
The mystery involving Nicholas Preftakes and the properties he has acquired over the past several years continues to bewilder observers. Recall that his holdings include every property between Main, Hudson, Walker and Sheridan with the exception of the city’s 420 W Main building, Coney Island Hot Dogs and Pizza Town (some transactions have occurred with the now closed Pizza Town, but I am not sure who has control of the building).
Just a few months ago, Preftakes sent out emails suggesting to folks the space was for lease – that he had no grand plan to tear down the buildings to make way for a new development. I didn’t believe it then. I still don’t believe it.
Consider what has transpired:
- The block is ripe for leasing if that was Preftakes’ true desire. He now has a couple thousand well paid Devon employees across the street. Project 180 improvements around the block are complete. The Union Bus Station (which he owns) is now emptied out (the last nuisance gone from the area). And yet the buildings remain empty. And this week the windows on the empty buildings were being painted white. This is not an action taken by a man wanting to draw interest from possible tenants.
- Preftakes is emptying out One North Hudson – which was formerly the old Black Hotel. Folks I’ve talked to say its set to be converted into housing. Others swear they’ve heard it’s being converted into a boutique hotel. Nick, as usual, isn’t talking and won’t talk until he’s ready to.
- People ask – could this be the next “mystery tower” site? I will say my sources have told me that discussions have taken place. That’s all I can share at this time.