Fed Funds Rate Cut to Lowest Level Ever

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The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use “all available tools” to combat a severe financial crisis and prolonged recession. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of zero to 0.25 percent. That is down from the 1 percent target rate in effect since the last meeting in October. Federal Reserve Chairman Ben Bernanke and his colleagues also pledged to use “all available tools” as they struggle to contain a financial crisis that is the worst since the 1930s and a recession that is already the longest in a quarter-century. — CNBC

By Brownstoner | 12/16/2008 2:32 PM

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Energy-Neutral Test House in Carroll Gardens Nears Completion, Park Slope Rental to Follow

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Beasties Park Naming Effort Moves South

Signs of Pre-Construction at Gowanus Whole Foods Site

Over 20 Percent of NYC Metro Area Mortgage Holders Underwater, But Brownstone Brooklyn Largely Spared

Friday Links

Are We There Yet? Thursday Blogwrap

Closing Bell: Heights Montessori Renovated, Expanded

Building of the Day: 1050 Atlantic Avenue

Progress at New Hello Living Development

Hasidic Art Gallery Opens in Crown Heights

House of the Day: 41 Jefferson Avenue

The Insider

The Insider: Attic ‘Cabin’ in Fort Greene

The Insider: Gentle Reno in Prospect Heights

The Insider: Nordic Edge in Park Slope

The Insider: Beautiful Basement in Prospect Lefferts

The Insider: Uber-Stylish Townhouse in Prospect Heights

The Insider: Fresh Take in Park Slope

The Insider: Speedy Reno in Williamsburg

The Insider: Carroll Gardens Mini-House

The Insider: Vertical Loft House in Park Slope

The Insider: Kid Stuff in Boerum Hill

The Insider: Super-Modern Addition in Brooklyn Heights

The Insider: Pretty Parlor Floor in Fort Greene

The Insider: Letting in Light in Prospect Heights

The Insider: Pre-War Gut in Brooklyn Heights

The Insider: Apartment into Loft in Brooklyn Heights

The Outsider

The Outsider: Viewing Garden in Park Slope

The Outsider: Perennial Power in Windsor Terrace

The Outsider: Rooftop Farm in Bed-Stuy

The Outsider: L-Shaped Deck in Park Slope

The Outsider: Gardening on Concrete in Williamsburg

Interview

The Hot Seat: Eric Brelsford

The Hot Seat: Suki Hawley & Michael Galinsky

Manhattanite Marisa Tomei Does Make Pilgrimages To Her Native Flatbush, Mostly For The Pizza

The Hot Seat: Gretchen Maneval

The Hot Seat: Stephanie Corrado

The Hot Seat: Joseph Nocella

The Hot Seat: Mary Kay Gallagher

The Insider: Apartment into Loft in Brooklyn Heights

The Hot Seat: Amy Sananman

The Hot Seat: Regina Myer

The Hot Seat: Jennifer Lantzas

The Hot Seat: Shai Lauros

The Hot Seat: Mary Catherine McGarvey & Anna Robinson

The Hot Seat: David Von Spreckelsen

The Hot Seat: Amy Hughes

Closing Bell

Closing Bell: Heights Montessori Renovated, Expanded

Closing Bell: Bike to School Day Tomorrow

Closing Bell: Inside Loew’s 46th Street Theater

Closing Bell: It’s Record Fair Weekend!

Closing Bell: Slope’s Gorilla Coffee Gets Bike Parking

Closing Bell: The Sky’s the Limit in Coney Island

Closing Bell: Bed Stuy Beautification Over Weekend

Closing Bell: Skies Clear for the Flea

Closing Bell: Is There a World Beyond Manhattan?

Closing Bell: JJ Byrne Park Reopens This Friday

Closing Bell: Free Tree Giveaway at Brooklyn Bridge Park

Closing Bell: The Slope Show

Closing Bell: Starry Eyed at Smorgasburg

Closing Bell: PIP Open Houses This Weekend

Closing Bell: PS 321 Spring Auction Underway

Building of the Day

Building of the Day: 1050 Atlantic Avenue

Building of the Day: 116 Rogers Avenue

Building of the Day: 360 Schermerhorn Street

Building of the Day: 244-254 Gates Avenue

Building of the Day: 645-647 St. Marks Avenue

Building of the Day: 521-529 Third Street

Building of the Day: 2307 Beverley Road

Building of the Day: 24 Fourth Avenue

Building of the Day: 201 Chauncey Street

Building of the Day: 385 Henry Street

Building of the Day: 392 Clinton Avenue

Building of the Day: 86-94 Garfield Place

Building of the Day: 1267 Pacific Street

Building of the Day: 76-104 Bainbridge Street

Building of the Day: 245 Flatbush Avenue

Development Watch

Energy-Neutral Test House in Carroll Gardens Nears Completion, Park Slope Rental to Follow

Signs of Pre-Construction at Gowanus Whole Foods Site

Progress at New Hello Living Development

Walkabout: Trashing Atlantic Avenue, part 2

75 Columbia Street Development Gaining Height

Associated Supermarket Addition Tops Off

Aerial Shot of 29 Flatbush Construction Site

Walkabout: Trashing Atlantic Avenue, part 1

The Big Reveal: 110 Amity + 314 Hicks

Good News! 538 Washington Avenue Has a New Owner

Green Manufacturing Center to be Built in the Navy Yard

Growth Spurt for 270 St. Marks Avenue

192 Water St. Developers Will Take on 185 Plymouth St.

Municipal Building Heading to Landmarks Soon

Section of Eastern Pkwy Mural Gone at Development Site

Condos

Condo of the Day: 60 Broadway, #8M

Condo of the Day: 1 Main Street, #4A

Slope Conversion, 397 First Street, on the Market Soon

Condo of the Day: 166 Montague Street, #5C

Details on Two Trees’ Reno of 30 Washington

Condo of the Day: 384 Warren Street, #3R

Condos May Replace Bargains-R-Us on Fulton St.

Argentinian Celebs Buy Northside Piers Penthouse

‘Owner/Resident/Landlord’: Trending?

388 Bridge Street is Officially Back in Business

80 Met in Williamsburg is Officially Sold Out

Condo of the Day: 904 Pacific Street, #501

Southern Brooklyn’s ‘Venetian’ Condo is Back in Play!

Condo of the Day: 360 Furman Street, #446

~~$4.9 Million~~ $5.1 Million Buy at OPP Sets Building Record: Updated!

Rentals

Rental of the Day: 1 Grand Army Plaza, #16W

Rental of the Day: 39 Pearl Street

385 Union Avenue Sells for $20 Million

Rental of the Day: 75 Poplar Street

Rental of the Day: 313 Adelphi Street, #2

Rental of the Day: 179 Monroe Street

Rental of the Day: 49 Westminster Road

Rental of the Day: 123 Henry Street

Details on Two Trees’ Reno of 30 Washington

Rental of the Day: 18 Alice Court

Now Renting in Williamsburg: 227 Grand Street

100 Luquer Street Didn’t Sell, Re-Lists Rental Units

ProCreation Rental Building at 801 Bergen Sells

Rental of the Day: 210 Gates Avenue, #2

Avalon Adds Another Piece to the Puzzle

Landmark

Roof Damage at Landmarked Jay St. Firehouse

Open House at Brown Memorial This Weekend

Tomorrow: Calendaring the Bedford Historic District

Bistricer to Buy Bossert Hotel, Kaufman to Renovate

Dumbo’s 185 Plymouth Heading to the LPC

Opening Shots Fired With Bills Involving Landmarks Law

Bills That Could Severely Damage Landmarks Law to be Introduced in Council Tomorrow

Renovations Begin at The Julius Liebman Mansion

Closing Bell: Expanded Slope Historic District is Official!

Vote to Expand Park Slope HD Happening Tuesday

St. Ann’s Warehouse is Heading to the LPC

New Visitors Center Coming to Flatbush’s Wyckoff House

Lot Reduction of Whole Foods Landmark Still Needs OK

Catholic Church Sells Landmark Fort Greene Building

Flatbush Sears Store May Yet be Named a Landmark

Streetlevel

Brooklyn Well-Represented in List of Indie Boutiques

Natty Gardens Opens Bigger Store on Washington

Open and Shut

New Italian Spot Opens in Speakeasy Space

Milk Bar is Expanding to 780 Washington Avenue

Jazz Club Coming to 960 Atlantic Avenue

Open and Shut

Treats Truck Now Open in Carroll Gardens

Kid-Friendly Company Moving to 380 Court St.

Sisters Hardware No More on Fulton Street

“A Demure Hunter Green” in Carroll Gardens

Area Yoga Opens Tomorrow on Montague Street

Brooklyn-Stocked Boutique Opens at 679 Classon Ave

Open and Shut

Middle Eastern Restaurant Opens at 316 Court Street

Quality of Life

‘Parks Working Out as Smoke-Free Zones, City Says’

Lefferts Hotel Forced to Remove Illegal Signage

CB6 OKs Barclays Booze License, Denies Kemistry Lounge

Park Slope Parents Want You to Know Nanny Pay, TYVM!

First Shot Fired in War Over Al Fresco Burg Brunches

Barclays Center Booze License Meeting: Questions, Resignation

From the Forum: Skateboarding Violation on Putnam?

East Flatbush Residents Fear Hot-Sheets Hotel

Upping Security in Flatbush, Fixing Bathrooms in the Slope

A Franklin Avenue PSA

Vid: ‘Will Whole Foods Destroy Brooklyn?’

How Sweet it Isn’t? Calls for Prospect Park Ice Cream Ban

Slope Residents Worry About Another Arena-Area Club

Closing Bell: Bridge Rehab Slightly Behind Schedule

Dumbo Residents Outraged by ‘Dangerous’ B25 Bus Route

Food and Drink

Coffee and Beeeer in Carroll Gardens

Info on a New Restaurant for Franklin Ave, ‘Mayfield’

Open and Shut

Juliana’s: Still Coming to Dumbo, but When?

Brooklyn Crab Making Progress in Red Hook

New Italian Spot Opens in Speakeasy Space

‘Crispy Mr. Chicken’ Announces Itself on 4th Avenue

Slope Beer Garden, Die Koelner Bierhalle, May Open Soon!

Open and Shut

Open and Shut

Middle Eastern Restaurant Opens at 316 Court Street

There is no ‘War on Brunch’ in Williamsburg

Reshuffle on Fulton for Habana Outpost Expansion

Kimchi Grill Finally Opens on Washington Ave. Today

Gowanus Dance Parties Get Legit

Commercial

Greenpoint’s Sweater Factory Lofts on Banker St Sells

Open and Shut

385 Union Avenue Sells for $20 Million

Good News! 538 Washington Avenue Has a New Owner

Municipal Building Heading to Landmarks Soon

Commercial Klutch: May Edition

Open and Shut

Price Tag for 30 Henry Street? $3.5 Mil

The Upstater: Commercial Properties for Sale

Steiner Goes Big in Carroll Gardens

Century 21 is Opening at City Point on the Fulton Mall!

Open and Shut

MetroTech Gets Its First Actual Tech Company

What Sort of Retail Will 470 Vanderbilt Get?

Open and Shut

Market

Gen Y’ers Will Keep Brooklyn Real Estate Going Strong

MNS: New Development Prices Up in 2011

Mortgage Rates Hit Record Lows

Is the Housing Bottom Here?

‘Fragile Stability’ Seen in Fourth Quarter Market

Buying a Better Deal Than Renting in Most Cities

New Townhouse Listings Slow to a Crawl

New York Still Faring Better Than Most Cities

Elliman: Prices Up, Sales Down in 4th Quarter

Corcoran’s 4Q Data Sending Mixed Messages

Halstead: Second Half Prices Show Big Uptick

Drowning In Data: Market Report Season

TerraCRG: Commercial Real Estate Stabilizing

Lots of Brooklyn in The Sunday Times

Corco: More Listings, More Absorption

Walkabout

Walkabout: Trashing Atlantic Avenue, part 2

Walkabout: Trashing Atlantic Avenue, part 1

Walkabout: America’s Best Bad Actor, Corse Payton, 2

Walkabout: America’s Best Bad Actor, Corse Payton

Walkabout: The Lords of Owl’s Head, part 3

Walkabout: The Lords of Owl’s Head, part 2

Walkabout: The Lords of Owl’s Head, part 1

Walkabout: Brooklyn’s St. George Hotel, part 7

Walkabout: Brooklyn’s Hotel St. George, part 6

Walkabout: Brooklyn’s Hotel St. George, part 5

Walkabout: You’d have to be a saint…Part 2

Walkabout: You’d have to be a saint to put up with this

Walkabout: Murder in the Cathedral

Walkabout: Brooklyn’s Hotel St. George, part 4

Walkabout: Brooklyn’s Hotel St. George, part 3

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