Big news this morning in the Wall Street Journal: Edge builder Douglaston Development intends to construct a 500-unit rental on the Williamsburg waterfront parcel where Three Northside Piers was supposed to rise. According to the story, Douglaston plans to break ground in March for the 40-story building. Toll Brothers is walking away from plans to develop a third Northside Piers building on the site because, according to senior VP David Von Spreckelsen, the “Williamsburg market is strong, but for most of us developers, it’s not a place where we were making a lot of money.” Douglaston’s plans for a third Edge condo—on the land where Smorgasburg and the Brooklyn Flea are held—are currently on ice, but the firm’s principal Jeff Levine says there’s a great deal of demand for rentals in the neighborhood and he expects to rent apartments in the building for $55 to $60 a foot, or around $3,000 for a one-bedroom. The Journal notes that the $300 million development could be “Brooklyn’s most ambitious new residential project since the recession.” Douglaston still needs to work out nitty-gritty financing details before the tower is a go. The tower, rendered above at right, will be 10 floors taller than the Two Northside Piers, which goes to 30 stories.
Williamsburg Slated For New Rental Tower [WSJ]
Scaffolding went up on the Montauk Club at 25 8th Avenue in Park Slope earlier this month. Looks like they might be repointing the brick in the front. Anyone know what they’re doing? Incidentally, when there was scaffolding on the landmark building in 2011, six brides threatened to sue to get their deposits back.
A mixed-use row house that looks like it will fit in well with the neighbors is going up at 202 Grand Street in Williamsburg, in what was previously an empty lot. We’re happy to see the heights of the stories are in keeping with the context. This has potential, depending on what finishes are chosen. […]
Winter has finally packed its bags, and it’s a perfect time to plant all manner of trees, perennials and annuals. It is also a great time to weed and reseed your lawn, before the weather gets so warm Bermuda grass takes over. Warmer days and frequent rains give everything a good start. In preparation for […]
Seven homes out of nine have sold at the Townhouses of Cobble Hill development, according to a PR rep. The Landmarks-approved modern-yet-contextual houses at 110-126 Congress Street went on the market in May for $3,650,000 to $4,200,000, and only 110 and 114 are still available. The four-bedroom, five-bath house at 110 Congress has 3,318 square feet […]
Average rents rose 77 percent in Brooklyn while city wide real median income fell 4.8 percent from 2000 to 2012, according to a report out from the city comptroller described in The New York Post. The increases were the largest in any borough. A story in the Times implied that meeting Mayor de Blasio’s stated […]