February 5, 2006–How hot is Brooklyn these days? So hot that condo developers are seeking building sites even in Prospect Lefferts Gardens — where single-family homes are the only thing that’s allowed in a big section of the neighborhood, because of deed covenants that date back to the 1890s. And other parts of the nabe are included in a city landmark district, which also limits new construction. Builders are heading to this area despite the relatively low supply of available sites because of the continued strong demand for housing in one of the hottest boroughs. “The pattern in Brooklyn is a repeat of a century ago. First people settled in Brooklyn Heights, then the brownstone belt was created, then radiating bands were created outside the brownstone belt,” said Kevin Holmes of Massey Knakal Realty Services. “It’s a reclaiming of the brownstone belt.” (More…)
Building on Condo Boom [NY Daily News]