WPCNR MAIN STREET JOURNAL. September 19, 2007: Louis Cappelli, President of Cappelli Enterprises has struck a deal with the Dimitrakakis family, owners of The Corner Nook Cafe, the 25-year diner institution across the street from City Hal . Peter Dimitrakakis will be compensated for his costs of leaving the Nook for 14 months, with Cappelli agreeing to build a brand-new Corner Nook restaurant into the 8-story 42-unit now luxury apartments he will build to satisfy his 24-unit obligation required under his 221 Main Ritz-Carlton development.

Super Developer Louis Cappelli with his new partners, Peter Dimitrakakis, his wife Antoinnette and daughter at City Hall last night. Mr. Cappelli will put Mr. Dimitrakakis in business at The Nook's same old stand in  Cappelli's glamorous affordable housing building shown below. Mr. Cappelli will start the building November 1

The new glass and granite 240 Main Street planned by Mr. Cappelli, new home of The Nook in 14 months --and 24 units of affordable housing to complete Cappelli's obligation on the 221 Main Ritz Carlton project. View is from City Hall, Trump Tower is in the background.

Cappelli and Dimitrakakis arrived at an understanding where the Nook owners could return to their present location after Cappelli's glass and granite building is completed by December 31 of next year. In return the council indicated to Mr. Cappelli they would grant him a 4-month extension tacked on to the August 8, 2008 deadline when his 24 units have to be turned over to the city, in order for him to get a Certificate of Occupancy for the second office/residential tower in the Ritz-Carlton complex. Details of the financial arrangement were not disclosed.

Cappelli and the owners were present as the Super Developer explained to the Common Council that he and Dimitrakakis were thrown into a circumstance where Cappelli's obligation to build the affordables lapsed back to him after Martin Ginsburg's Pinnacle project expired. Ginsburg was to have built the units for Cappelli.

Council PresidentRita Malmud having listened to Mr. Cappelli's announcement of the deal and the shortened 4-month extension request, gave her blessing to the deal that will enable Cappelli 14 months to execute the 8-story building.

The Super Developer has redesigned the exterior into a granite and glass upscale building perhaps the ritzy-est affordable housing building ever.  He said the building would be luxury on the interior,too with granite countertops and upscale kitchens and appointments. Malmud said the exterior was an improvement and she saw no objection to granting the extension. Cappelli had originally wanted a one year extension. No reason was given why he cut the time he had originally said he needed. 

Councilmen Power and Boykin, who were cool to any extension last night, did not comment on the extension. The matter will come before the council in October, and the plans were referred out to the various departments. Cappelli said he'd be demolitioning the present building November 1, and that he already had building permits and demolition permits, and the paper work.

The Super Developer told WPCNR last week  he was moved by a crusading column by Journal News columnist Phil Reisman, pointing out the Dimitrakakis' plight, and decided he would attempt to find a way he could build his affordable housing commitment to the city, and save the Nook and keep it in business. He said he had suffered much bad press lately over the subject and he did not want to be perceived as the bad guy.