The Post has a story today examining the impact Atlantic Yards will have on neighboring communities, and most real estate industry people quoted in the article say it’s still unknown whether or not it will boost nearby residential values. Ofer Cohen, president of the commercial brokerage TerraCRG, says that while “no one knows exactly what will change yet,” retail space is in demand. Residential brokers aren’t as bullish, though: Brendan Aguayo, an agent at Aguayo and Huebener, says he hasn’t “seen developers trying to buy close to the stadium.” Aguayo, who has been marketing condos at a couple small buildings near Atlantic Yards, says that the project hasn’t kept anyone from closing on units, but buyers are still “concerned and unsure about what Atlantic Yards will bring.” Meanwhile, the story also touches on sales at Atlantic Terrace, where the developer says prices are going for around $550 a foot. Atlantic Yards Report notes that in a 2009 report by the consulting firm KPMG to the Empire State Development Corporation, the company determined that only a “modest inflation factor” would be needed for Forest City Ratner to achieve its goal of selling units for $1,217 a foot by 2015. That means, as Atlantic Yards Report notes, that “the Atlantic Terrace price of $550/sf would have to more than double across the street” in just a few years.
Court Vision [NY Post]
NY Post on Real Estate Around AY [Atlantic Yards Report]
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Come out to Brooklyn Bridge Park this weekend to enjoy spring temperatures and classical music played on a floating barge off Fulton Ferry slip. Violinist Mara Milkis and pianist Francine Kay will play tunes from Telemann, Prokofiev, Schubert and Schumann Friday evening at 7 pm. Tickets are $35, $30 for seniors and $15 for students, and can […]
Brooklyn, one building at a time. Name: Park Place Station, Franklin Avenue Shuttle Address: 605 Park Place Cross Streets: Franklin and Classon Avenues Neighborhood: Crown Heights North Year Built: Original station-1900, rebuilt 1906. This station-1999 Architectural Style: Vaguely Mission style Architect: Unknown MTA architects; railings and gates by Isha Shabaka Landmarked: No The story: The history […]
Signage has gone up in the windows of 602 Vanderbilt Avenue, where restaurant 606 R&D is preparing to expand with takeout and groceries. The spinoff, to be called R&D Foods, will have a counter with seating, according to the website. Offerings will include prepared foods, vegetables, sandwiches, deli items, breads, pastry, donuts, and coffee. There will […]
The first thing you notice about the red brick and brownstone Queen Anne at 196 Hancock is the exceptional exterior. Designed by architect Gilbert Alphonse Schellenger, the house was built in the early 1880s, according to Save Bedford Stuyvesant. Inside there are plenty of original details, including parquet floors, elaborate fretwork screens, mantels, a pier mirror, shutters […]