An decade-long stint on the market practically destroyed the CPA Building. Now that it has finally sold, should we be hopeful that the CPA has a brighter future ahead? The buyer is Sequoia Property Partners, a real estate investment firm based in NYC. So far, their only comment on the sale is a statement issued to Crain's, asking for "ideas from the community on the best use for this property."
Here's an idea: Board it up.
Feel-goody statements about community input don't hold any water when the property is dragging down said community. Roughly three weeks have passed since Sequoia closed on the CPA, yet it remains a wide-open playground for vandals, drug dealers, and potentially arsonists. Roughly three weeks have passed since it officially sold.
Sequoia's entire statement (at least, what Crain's printed of it) doesn't refer to the CPA Building once. Instead, it calls the entire block a "blank slate."
If Sequoia aspires to demolish the building, that's a conversation worth having later on. But the fact remains: Any large-scale development plan for Corktown will result in press coverage, multiple public hearings, and plenty of opinions. A small investment in security would alter perception of the CPA from a neglected disaster into forward-moving development site. Seems like a smart move.
· Corktown's CPA Building (and More) Just Sold for $900K [Curbed]