Posts tagged ‘food entrepreneurs’
Hunts Point Market Extends Lease with NYC
The Hunts Point Terminal Market, the world’s largest wholesale produce market, is not leaving New York City, at least not yet. It extended its lease with the city for an additional three years.
The three-year extension was signed just as the market’s lease was about to expire on May 31. As part of the lease negotiations, the market vendors agreed to stop talking to officials from New Jersey, who had been trying to persuade the vendors to relocate. The vendors will negotiate exclusively with the city for a term of nine months.
According to Crain’s New York Business, the biggest issue revolves around how the cost of renovating the market – projected at $320 million – will be divided among the vendors, the city and the state. (more…)