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Barclays Center Wire

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Here's a head-scratcher: Forest City Ratner filed a petition fighting the city's appraisal of the Barclays Center, saying the city overestimated its worth by more than $600M. The Dept. of Finance appraised the new arena at $741M, but Forest City says the place is only worth $111M. The developer doesn't pay property taxes on the arena. Forest City declined to explain their reasoning, and we don't really understand this, so if anyone can explain it to us, please hit up the tipline or leave a comment. [DNAinfo]

Barclays Center

Atlantic Avenue at Flatbush Avenue, Brooklyn, NY