NEW YORK, June 28, 2005 (PRIMEZONE) -- "I don't know why it took us so long to move to Harlem," said Doug Newton, CEO and founder of Billy Martin's USA (Pink Sheets:BLYM), the upscale "western lifestyle" boutique, which Newton and his former partner, New York Yankee manager Billy Martin, opened on Madison Avenue in midtown New York City 26 years ago.
Today, the tony boutique is still serving customers and going strong at its current location in Manhattan on East 60th Street, just off Third Ave. Its other flagship location is on the Sunset Strip in Hollywood, where it recently celebrated its 10th anniversary.
"Back in the 1970s," Newton said, "we were the first shop in New York to sell upscale western duds to eastern dudes, and a lot of those dudes included African-Americans from all over New York who over the years have supported us religiously with their business and loyalty."
"The developer of a new 34 floor multi-use retail, residential, office and hotel complex, contacted us earlier this summer, with plans to open 'Harlem Park', a dynamic 600,000 square-foot mixed-use development project located at 125th Street and Park Avenue.
Designed by world-renowned architect Enrique Norton of Ten Arquitectos/Design Group International, Harlem Park will feature "Class A" office space, 100 residential condominiums, a Marriott Courtyard Hotel, 1,200-seat meeting/banquet facility, a state-of-the art health club and spa with an outdoor pool facility, and a bi-level underground parking garage
Newton said the negotiations to secure the retail space for Billy Martin's took about five minutes to conclude with the project's leasing agent, Stefany Di Manno, of Plymouth Partners Ltd. "Stefany did a masterful job of explaining in high fidelity the vision of Harlem Park's developer, Michael Caridi."
Newton said "Caridi's vision and resources to develop exceptional real estate properties, as well as his style and professionalism, make Donald Trump look like chump change. I mean no disrespect to Trump; I just want to elevate Caridi."
"At Harlem Park, we hope to open an exciting Billy Martin's boutique filled with the hottest and best fashions and accessories money can buy. And the best news is that this new complex will enhance and draw attention to the beauty, vitality and incredible future of the Harlem community, which has been our neighbor and friend uptown for nearly three decades."
Statements about BLYM's future expectations, including future revenues and earnings, and all other statements in this news release other than historical facts are "forward-looking statements.'' Since these statements involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from the company's plans if its assumptions prove to be incorrect, or, for a variety of other reasons.
Billy Martin's USA, Inc. is not a reporting company registered under the Securities Act of 1934. Shares of its stock trade on the Pink Sheets under the symbol "BLYM."