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J davidS han&spgsp Inc.serving the display needs of theBusiness World for over 64 years.Meet Us AtBROOKLYNWORKSPier 2, Furman St.September 23, 24, 25 Booths #229, 231We are direct manufacturers and importersno outlet is too small or too large. We look forward to meeting you and helping you to increase your sales through the visual merchandising techniques endorsed by department stores and shopping mall throughout the world. Visit our office and showroom anytime throughout the year%u2014We will captureyour imagination...DAVID HAMBERGER, INC.SHOWROOM %u2022 FACTORY %u2022 OFFICE410 Hicks St. Brooklyn, NY 11201 (718)852-7101a p r o %u00a9 M if W t e jgchose N Y C E ^for M s cellular.car telephone!Here's what this N.Y. Islander, NHL All Star, and L.I. Businessman has to say!f t Efficient use of my time, energy and opportunities is vital to mysuccess in both ice hockey and business. My N.Y. Cellular car%u201dtelephone gives me a great extra edge to manage a tightschedule, and to oversee my skating academy and propertymanagement businesses.NYCELLIs winning combination of proven quality,reliability and technical expertise made them my #1 choice formy N.Y. Cellular connection.See for yourself. . . call NYCELL now, and get a N.Y.Cellular update and demonstrauon. They%u2019re right. . . where it %u25a0 %u25a0counts! r \\ ( wWV latenpYGISUWOServing The Greater New Iforfc Metro and Long Area.I BROOKLYN - S.I. QUEENS LONG ISlAfo Nrhoriwl NX\New Yod( Cdlular %u2122 *75-3043 (718) 361-0601 (516) 997-5577 NYNEXMobile Comm;r.!i4tior.s Westchester Manhattan Mobile CommunicationSpecialist* (914) 328-7580 (1-600) 522-7227 @%u00a91886 NY CELLULAR TELEPHONE CORPBrooklyn,incEmployees of Coastal Dry Dock in the Brooklyn Navy Yard picket there to tell management that they want to keep their jobs. Coastal has filed for bankruptcy and may bebought out. (Phoenix/Koch Photo)Japanese Firm Saves the Day at the Navy YardContinued from Page I$240,000 a year, as compared to rent as yetunpaid by Coastal. That firm , now underBankruptcy Law protection, currently pays$2.2 million for all the space it occupies.%u201cWe would have negotiated with them(Coastal) for the building anyway,%u201d saysLenefsky. %u201cIt was vacant and we saw theopportunity to bring in a company such asthis.%u201dThe rental agreement between the NavyYard and the railrar company calls for$240,000 in rent for each of three years. According to Lenefsky, the company can useits rent money to pay for renovations to thebuilding.%u201cIt%u2019s really in terrible condition,%u201d he says.%u201cSo if they spend $240,000 to renovate it thefirst year, they won%u2019t have to pay any rent.The sam e for the second and third years.%u201dAt the end of three years, the railcar company has the option to renew its lease atroughly double the rent. The lease agreement also includes the right of first refusalon an additional 70,000 square feet of spaceat the Navy Yard.%u201cI don%u2019t think we can lose,%u201d says Lenefsky. %u201cIf they decide after three years thatthey are going to leave, we will have a completely renovated building. If they decide tostay we%u2019ll make a bloody fortune that fourthyear. It%u2019s really a terrific deal foreveryone.%u201dThe tone of optimism is quite differentfrom the gloom that threatened the NavyYard less than three months ago whenCoastal Dry Dock, the Navy Yard%u2019s largesttenant, filed for financial protection inFederal Bankrupty Court. At that time,Lenefsky estim ated that roughly 50 percentof Navy Yard business came from the shiprepair concern. With no income fromCoastal to be expected in the future, andmore than $1.5 million in back rent owedthe Navy Yard Corporation, Navy Yardsecurity and maintenance programs werethreatened.Under bankruptcy laws, the Navy Yardcould not, without permission, rent out property currently leased to Coastal %u2014 much ofit vacant. The decision to allow the NavyYard to lease the property to another company gives Coastal tim e to completenegotiations with Bath Iron Works, a MaineCompany that could eventually buy ormerge with Coastal.Coastal Dry Dock currently operates aship repair business at the Navy Yard buthas no major contracts scheduled until 1987,when three Navy ships will drop anchor inBrooklyn for repair work.Lenefsky says other negotiations betweenthe Navy Yard and Coastal are stopped until an agreement is reached or abandonedwith Bath Iron Works. %u201cWe will just waitand see what happens there,%u201d he says. %u201cIfthey are bought we will continue negotiations with the new company.%u201dThe railcar company is expected to be inoperation by January, 1987 when the MetroNorth contract is expected to begin. Lenefsky is convinced that this will signal thebeginning of a long and lucrative businessagreement between the Japanese andAmericans at the Navy Yard. %u201cWe believethat it will be a success, and that the MTAand other commuter rail services will needtheir services. In total I%u2019d expect that up to250 jobs could be created because of thisagreement,%u201d he says.Coastal Negotiating for Help From Maine FirmCoastal Dry Dock and Repair Corporationis continuing its negotiations with Bath IronWorks of Bath, Maine, and %u201cseveral otherinvestors%u201d in an effort to aid the financiallystrapped ship repair firm.Vincent Montanti, vice president ofCoastal, says he is %u201cvery optimistic%u201d aboutthe negotiations and that an announcementregarding the deal was expected soon. Montanti, speaking on Aug. 12, would notelaborate on the specifics of the negotiations. %u201cAll I can say is that I am very pleased with our negotiations.%u201dMontanti did add, however, that his company would not be in Bankrupcy Court ifthe Navy Yard Development Corporationhad struck a sim ilar deal with Coastal as itdid with the Japanese firms. %u201cWe put $50 or$60 million into the Navy Yard since 1972,and not one cent of it was against our rent,%u201dhe said. %u2014 T.G.JerryfmloWe are open for Lunch Prix Fixe Specials at DinnerALL MAJOR CREDIT CARDS1 FRONT STREETRESERVATIONS REQUESTED(718)852-31371r Joe%u2019s PlaceQ D RISTORANTE264 Waverly Ave.Brooklyn, N.Y.N.Y. Dally News* * * *%u201c Joe's Place is the kindof restaurant to takeManhattan friends whobelieve that Brooklynhas no interestingrestaurants.%u201d n u A ru ivWeVe expandedOur GardenFor YourEnjoymentOpen 4-12 Every Night except Monday end Tuesdey 5 min. from BAM 2 blocks from Pratt 622-9244 Credit CardsPage 6, THE PHOENIX/BROOKLYN.INC SECTION TWO, August 14,1966