BJH advised a joint venture of Red Hook Container Terminal (RHCT) and Industry City (IC) on their proposal and negotiation with the City of New York for lease of the South Brooklyn Marine Terminal (SBMT). BJH worked with the JV to develop a site utilization plan that identified prospective maritime and non-maritime tenants, including estimates of annual income and operating expenses based on the leasing strategy. BJH collaborated with the team to estimate the capital investments necessary to operate the facility for maritime use and a schedule for capital investments reflecting the lease-up/stabilization timeline. Finally, with the proposed program, BJH estimated the direct and indirect jobs that would be generated by the project, an economic analysis that the City used in its decision-making process.
BJH also advised RHCT on several other projects for marine operations in the greater New York metro area.