Forest City Enterprises is selling its 55 percent majority stake in Barclays Center, according to Street & Smith’s Sports Business Journal. Possible candidates include Nets owner Mikhail Prokhorov, who already owns 45 percent of the arena, or the new owners of the Islanders. No price has been named, but investment banking sources quoted by SBJ speculated $750,000,000 would be the top valuation, based on an estimated $30,000,000 in annual cash flow.
Atlantic Yards Report called the sale “curious,” considering the center cost more than $845,000,000 to build, according to various estimates. What do you make of it?
The parlor and entry of this renovated Clinton Hill townhouse look amazing, as does the bathroom. We love the tile floor, green claw foot tub, sink, lighting — everything, really. The backyard has also been beautifully and creatively landscaped.
Before taking off for Christmas in 2004, we asked readers which neighborhoods they thought would appreciate the most and the least in 2005. To our surprise and delight, there were more than 100 comments waiting for us when we returned (some of them appear to have been lost).
A few choice reader comments:
there are some who still have not caught on to brooklyn yet- either they don’t have the mindset of the early adopters, but are mere followers, etc. (one good friend said to me once: i can’t live in brooklyn– what would the partners think? that’s where the secretaries live!!)
I would short Bed-Stuy and go long Park Slope. I think the spectacular run-up in Bed-Stuy prices is at risk of retreating. I say that because speculative frenzies are often accompanied by pauses or retreats. From everything I am reading and hearing, things have gone insane in that nabe.
The walls are rising fast at 785 Dekalb Avenue, where SSJ Development is planning a 70-unit apartment building.
The mad, mod building design looks to us like a space age City Hall for sea monkeys with its slanted porthole in the front and gold dome on the top. When it’s complete, it will be one of Bed Stuy’s most architecturally distinctive buildings – and the bar is high in Bed Stuy, which has some of the borough’s best 19th century architecture.
Julien Flander is the architect of record. Click through to see a new photo of the rendering on the construction site.
The John C. Kelley House, site of a Sharon Stone film shoot and a visit from President Cleveland, is now officially on the market for $6,000,000 and photos went up on the listing Friday afternoon.
As we reported in July, the longtime owner, a retired advertising executive, bought it when it was an illegal SRO and meticulously restored it. The double-wide house at 247 Hancock Street is 41 feet wide by 60 feet deep, according to the listing, and sits on an even bigger 81-by-100 square foot lot. The Neo-Renaissance house with Romanesque Revival features was designed in the 1880s by architect Montrose Morris, who lived across the street. The block, between Marcy and Tompkins, is one of the most architecturally distinguished in Bed Stuy, but is not yet landmarked.
It’s set up as a rental apartment over a grand owner’s triplex, complete with bar and ballroom in the basement. It also has an extensive landscaped garden with koi pond and roses. It is Bed Stuy’s most expensive listing and will set a record when it sells.
Click through for more photos and a floor plan. What do you think of the price?
You can’t celebrate Brooklyn or 10 years of Brownstoner without the Williamsburgh Bank building, one of Brooklyn’s greatest structures.
Brooklyn, one building at a time.
Name: Former Williamsburgh Savings Bank Building Address: 1 Hanson Place, corner of Ashland Place Neighborhood: Fort Greene Year Built: 1927-29 Architectural Style: Art Deco, with Byzantine and Romanesque influences Architect: Halsey, McCormack & Helmer Other buildings by architects: Central Methodist Church, next door, redo of Former Dime SB at Fulton Mall, Former Kings County SB at Nostrand and Eastern Parkway, former Brevoort SB on Fulton Street, Bed Stuy. Landmarked: Yes. Brooklyn Academy of Music HD,1977. Bank interior, lobby, landmarked in 1996.
The story: Like thousands of Brooklynites who worked or walked in the area, I used this building hundreds of times to check the time. My mother’s dentist was in this building. For many people, this building IS Brooklyn, almost as much as the Brooklyn Bridge is. For many years, Brooklyn’s tallest building, (second now, thanks to the Brooklyner) the Williamsburgh Bank Building is an icon of our borough, as well as one of New York City’s most beautiful skyscrapers.
The firm of Halsey, McCormack and Helmer produced some great bank buildings, not only in Brooklyn, but also the Dollar Savings Bank in the Bronx, and the Greenwich Savings Bank on 57th Street in Manhattan. The firm organized in 1920, with Hayward Halsey, a developer, former banker George H. McCormack, and architect Robert Helmer, who took charge of the design office, and is responsible for actually designing all of their buildings. If you think about it, this partnership was perfect. Banker McCormick was well-connected to the industry, and could get their foot in the door. He also knew intimately what was needed in the design of a proper bank. Helmer designed, and Halsey got it built. (more…)
A cafe called Simple Pleasures Cafe opened Monday at 833 Dekalb Avenue in Bed Stuy. They are serving coffee and had a few pastries when we stopped by. It’s on the corner of Throop about six blocks from the JMZ stop at Kosciuszko Street. Has anyone checked it out? GMAP
Remember the Carroll Gardens Atrocity? Here’s our first post on the subject, titled “CG Atrocity: There Goes the Neighborhood,” in April 2006. Back then we didn’t mince words:
Carroll Gardens better get off its ass and create some historic districts pronto. Here’s the poster child for the cause: The addition to this house at 3rd Place and Clinton Street, made all the worse by its corner location, has to be one of the greatest bastardizations of a beautiful old brownstone we’ve ever seen. May their condos languish on the market indefinitely. Do you think it would be possible to organize a buying strike against this place? Picket the open houses?
The actual addition turned out to be even worse than the rendering. Here’s what eventually happened to it, from our final post, in October 2012: (more…)
Work is progressing slowly at 472 Marcus Garvey near Fulton in Bed Stuy, where a four-story mixed-use building has been in the works since 2011. The building will have 10 apartments and one store, according to a new building permit. The site has received a number of stop work orders over the years, mostly for construction impact on neighboring properties. Click through to see a rendering of the finished design. (more…)
A new small building at 51 Troutman Street in Bushwick officially launched leasing yesterday, starting at $2,076 for a 526-square-foot one bedroom, rental agent Modern Spaces announced. There are eight units in the four story building, which is located near Silent Barn and the Myrtle Broadway JMZ stop. The most expensive unit in the building is a three-bedroom duplex, renting for $3,323 a month. One month of rent is free.
Finishes include hardwood floors, oversize windows, and Ceasarstone counters. There are hookups for washers and dryers but no actual appliances. BuzzBuzzHome was the first to spot the listings.
Two years ago the site was an empty lot. The property changed hands for $450,000 in 2013, and the owner uses a mail drop on Lee Avenue in South Williamsburg.
Click through for more photos. What do you think of the design, location and pricing?