New Yorkers building bridges while revitalizing Polish site

Real Estate Weekly, Jan 5, 2005

Four young men from New York City, including two brothers, have teamed up with two men of Polish descent and are pumping vitality into Gorzow, Poland by revitalizing and renaming a 12-story commercial building, a project started by the Communists in 1986 but abandoned when the government crumbled.

Adam Kushner, an architect; his brother, Marc, an attorney; their American partner, Michael Tsoumpas; Jan Matusiewicz, a Polish-American, and Richard Watrel, a Gorzow native are renovating the building American-style and giving it an American name: Atlantic.

Located on a 50-acre land parcel near the Polish/German border, the 180,000 square-foot office building rests on a commercial strip spaced a welcome distance from the area's government center. Atlantic features American amenities not often found in Europe, including a health club that will offer monthly memberships, instead of charging by the hour. Underground parking also is available.

The Atlantic was sold to the partnership in December 2003, but a partnership has been involved in redesigning the building since 1999.

"It's fitting to call the building Atlantic, because with this building, we're really seeking to build a bridge between Poland and the United States," Kushner said. "In addition to being a solid investment, this building also enables me, as an architect, to give a part of America to the exciting city of Gorzow."

Part of giving back also involves gestures to the public such as a highly visible clock and the 12-story viewing platform, which is the highest point in town. The ground floor features an elegant marble lobby and the first two stories are dedicated to an indoor retail mall. Retail tenants include a bakery, a furniture store, a baby products store, a stereo outlet and a computer retailer.

Office tenants include a TV station, a bank and the city's municipal court system. As other offices in the building near completion, a flood of leasing inquiries has already started. This isn't surprising, when you consider Gorzow's excellent communications network, with ready access to media, strong civic support for investment projects and an excellent program of tax incentives for local investors.

Construction on Atlantic, a heavy flat-plate concrete building started in 1986 under Poland's Communist authorities, but as the government crumbled, the project was abandoned. The previous owners purchased the building in 1995 and completed its first major renovation in 1998.

The city of Gorzow maintains a population of about 130,000, of which about 82 percent are employed. As of early 2003, the average monthly income in the enterprise sector was PLN 1,810.22, a little more than $500 a month.