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DO WNTO WN BROOKL YN REAL ESTA TESUNDAY* JUNE 1,1986HOUSEA N D G A R D E NRain or Shine 15P.M. Ticket: $8.00Last bus leaves at 4:30 %u2022 Tour lasts about 2 hoursAt the historic Flatbush Tompkins ChurchEast 19th Street and Dorchester RoadRefreshments %u2022 Music by BACAExhibition and Sale o f workby Flatbush artists and craftspeopleSelf-guided tour of Antique Row(Coney Island Avenue between Church Avenueand Avenue H.)Sponsored byc a Flatbush Development CorporationEorfiirther information, please call 718/469-8990FLATBUSHComing in June inO u r A n n u a lDowntown BrooklynProgress ReportEditionThis year, m ore lh a n ever before, there's a strong message o f action and a ctivity to b ring the business co m m un ity about the m ultitu d e o f exciting developm ents in D o w nto w n B ro o k ly n that are fast tra n sfo rm in g o u r already strong central business section in to New Y o rk C ity %u2019 s T h ird M a jo r Business D is tric t. Y o u %u2019 ll get a ll the details in our June edition o f B R O O K L Y N ,IN C .It is a Publishing Event You WillWant To Be Sure Your Advertising Is Part OfDeadline f o r E ditorial C opy: Tuesday, June 10Deadline f o r A dvertising: W ednesday, June 11Call 718-643-1400 For Advertising Information%u2014 P u blished by S erif Press, In c o rp o ra te dm m m iServing Do*mo-%u00bbn Brooklyn and Its Neighborhoods Serving Greenwich Village and I ower ManhattanBrooklyn,Serving Brooklyn%u2019s Business( (immunity meBreak GroundBY LIZ KOCHThe sun was shining, balloons were sailing, protestors were shouting and Mayor Ed Koch arrived at the construction site of the new Pierrepont Office Building in Downtown Brooklyn with two hard bound copies of his book in hand.The occasion was the official groundbreaking for the new home of the Morgan, Stanley investment banking firm on May 21. Albert Ratner, president of Forest City, the developers, proudly pointed to the extraspecial nature of the occasion when he said that it was %u201cthe first new office building in Downtown Brooklyn in 25 years and it won%u2019t take 25 years for the next one to come.%u201dKoch, who arrived at the site with boos accompanying his steps, addressed his first remarks at the ceremony to the 20 protestors outside the fence. %u201cHow do people believe the essential services of this town are delivered? Do they think we have a checking account with God? Or are those services paid for with taxes. I think the latter,%u201d he remarked.Turning to the building project at hand he predicted a Brooklyn success story to the 100 people present, many wearing the honorary groundbreaking hard hats.%u201cGrowth will continue until the maps of the city look different. It will be a city of three great business districts not just Midtown and Wall Street,%u201d he said. %u201cThe ice has been broken, the back-office boom is on. This project has proven positive that our economic incentives are working.%u201dBorough President Howard Golden called the project %u201ca testimony to the vitality of Downtown Brooklyn%u201d and Alfonse D%u2019Amato%u2019s mother, Ann D%u2019Amato, speaking on behalf of her son, said: %u201cIt makes me feel so good that they are revitalizing Brooklyn.%u201dThe $154 million project on the comer of Montague Street and Cadman Plaza West will house as its major tenant the operations department and data center of Morgan Stanley, the New York-based international investment banking firm which will lease approximately 300,000 square feet of the 19-story building. Officials for the Public Development Corporation %u2014 its retiring President, Steve Spinola, and VicePresident Jim Stuckey, who together with developers Forest City-Pierrepont Associates, negotiated the lease with Morgan Stanley %u2014 were on hand for the ceremony as well as Morgan Stanley President Richard Fisher and Deputy Mayor Alair Townsend.Fisher stressed the importance of the back-office operations for his firm. %u201cThis is our data center and our major computer center. It is one facility of ours that absolutely cannot go down,%u201d he said. %u201cThe process did work,%u201d he added. The project is benefitting from a 22-year as-of-right property tax exemption and has also received a $5 million Urban Development Action Grant (UDAG).This is the first new officebuilding in 25 years inDowntown Brooklyn and itwon V take 25 years for thenext one to come.As part of the ceremony, Koch, Golden,D%u2019Amato, Fisher and Ratner each contributed an item to a time capsule to be buried on the site and opened in 50 years. Koch handed over signed copies of his two published books saying: %u201cThis is the only state in the union where the Governor wrote two good books and the mayor wrote two good books, and one of mine was a best seller.%u201dGolden gave a poster of Brooklyn,D%u2019Amato, a taped legislative session and Fisher a pen and ink drawing of his home on Remsen Street. Ratner contributed a photo of his grandchild.During the ceremony, protestors chanted on and off, and as the congregation departed for lunch at the River Cafe, they began to shout %u201cHow much Howie?%u201d%u201cThis project is being built more for the profit of the developers than for the city,%u201d Pam Miller a member of the Committee to Save Montague Street said. Her group has tried unsuccessfully to block construction of the project in court claiming that an environmental statement was incomplete. %u201cThe developers are paying enormous sums of money to the politicians and that is part of the reason we%u2019re getting this building we don%u2019t want,%u201d Miller charged.%u2022 %u2022 M . %u2022 %u2022 %u2022 %u2022 %u2022%u2022 %u2022 %u2022 3%u00ae %u2022w - - %u00ab%u2022 %u2022 %u2022 %u2022 %u2022 #%u00ae %u2022 %u2022 %u2022 %u2022 %u2022%u2022 %u00ae %u2022%u2022 %u2022 %u2022e a c s t t *26 C ourt Street, BiH U E Sooklyn, N.Y. 11242m(718)875-8287 * (718) 834-9723P ag e 16, T H E P H O E N IX , M a y 29, 1986