Yesterday the State Attorney General Eric Schneiderman and State Comptroller Thomas DiNapoli signed off on SUNY’s plan to sell Cobble Hill’s Long Island College Hospital to developer Fortis Property Group, Brooklyn Heights Blog reported. The approval came two days after a march during which local politicians and community groups called on the attorney general and the comptroller to investigate the deal, which they said appeared to be rigged.
“What happened to the Othmer Endowment money? Was the bidding process legal and appropriate? At so many points it appeared rigged, there’s no other word for it,” Brooklyn Eagle quoted City Council Member Brad Lander as saying. “Officials have written to Attorney General Schneiderman and Comptroller DiNapoli. We’re asking the Attorney General and the Comptroller to thoroughly investigate these questions.”
Many questions about the deal remain, said the Eagle.
Incredibly, more than 50 percent of the apartments at ultra-luxury Red Hook condo building 160 Imlay are in contract less than a month after sales launched. Construction on the conversion of the warehouse started in June, and is expected to wrap in 2016. On the first of this month, listings went up for 10 units, and now there are 49 units listed on StreetEasy, all of which are in contract. The building has 70 units altogether but no available units are listed online. BuzzBuzzHome was the first to report on the sales.
Prices range from $862,875 for an 885-square-foot one-bedroom to $5,397,840 for an 3,831 square foot one-bedroom. (There are also studios, two-bedrooms and three-bedroom units.) Est4te Four is the developer and Aldo Andreoli of AA Studio is the designer. The interiors preserve some of the industrial details of the warehouse, which was one of the first cast-in-place concrete buildings, such as concrete beams and high ceilings. The units feature extra-large triple-paned windows to take advantage of the views. There are wide plank oak floors, white matte lacquer Italian kitchens, and appliances by Miele. Douglas Elliman is handling the sales. The building is in the flood zone.
The Lefferts Community Food Co-op is getting close to opening and held an open house this past Sunday, October 26. The event offered a “sneak peak” at the store’s progress, food samples, refreshments, and a chance to meet and mingle with members. They also gave away some fun refrigerator magnets. The co-op is is aiming to open by mid-November, according to its Facebook page. It is located at 324 Empire Boulevard in Prospect Lefferts Gardens. GMAP
This Williamsburg house is 26 feet wide and has a very old looking chimney visible in one room. But if it is, say, a mid-19th century Italianate or Greek Revival, or even older, the traces have been mostly lost over the years. It’s currently set up as three units. The ask is $2,179,000. Do you think it has potential?
A sign at 855 Dekalb Avenue in Bed Stuy says a three-story building there is being turned into a five-story building and converted from commercial to residential, but a peek behind the construction fence seems to show very little or nothing left of the original building.
A stop work order was issued and the complaint was “work does not conform to approved construction documents,” suggesting that perhaps a new building permit rather than Alt-1 might be in order, but the complaint has been resolved, according to the document.
In any case, the current permit calls for 15 apartments over 15,000 square feet. A rendering on the construction fence shows a neoclassical-style facade with juliet balconies and peaked-roof style cornices flanking each side.
The property, located between Marcus Garvey and Throop, is 50 feet wide and housed a three-story factory. Click through for a look at the construction site. (more…)
A rendering for a medical complex planned for 5515 8th Avenue in Sunset Park reveals a boxy, glassy building with stepped bands of gray and white stripes. With its alternating swathes of clear and opaque glass, it reminds us of a layered gelatin dessert — one that been digitally sliced and offset with computer graphics. But at least it’s not boring. The architect is Raymond Chan, who is prolific in Queens, especially Flushing.
The developer is Andy Wong of Golden 8th Avenue Realty Corp., according to New York YIMBY, which first published the rendering. Permits call for six stories with 13,000 square feet of retail and 42,500 square feet of medical office condos, There will also be an underground parking garage going down three levels with parking for 150 cars.
The building will replace a one-story commercial building and is slated to open in fall 2017, according to YIMBY. It is located six blocks down the avenue from the planned Sunset Park mega mall with four towers at 6208 8th Avenue. What do you think of the design?
Madewell will open its first Brooklyn store at 127 North 6th Street in Williamsburg Wednesday, a sales associate told us when we called. The grand opening party is set for that evening, according to the brand’s Facebook page and an email we received.
When we stopped by yesterday, scaffolding was up and the exterior was under construction. We don’t know what that silvery shiny stuff is on the top (strips of aluminum? insulation?) or why it’s made up of such skinny, short pieces, but perhaps it’s some kind of under layer and not the final topping. (Click through for a closeup.)
The store is centrally located near Bedford Avenue on the same street as Urban Outfitters and American Apparel. J.Crew opened a few blocks away last month. Williamsburg is now feeling a lot like Soho 25 years ago. GMAP(more…)
This one-family Romanesque-slash-Renaissance Revival sandstone and brownstone in east Bed Stuy has been updated, though it still retains plenty of original details. Located on a block of Macon Street near Saratoga Park that won “Greenest Block” in Brooklyn this year, 741 Macon Street was designed by architect Henry Vollweiler in 1889 for developer-builder James J. McCoy, according to the listing.
It has original slate and elaborate wood mantels with Minton-style tile, wainscoting, decorative plaster work, two bedrooms, two bathrooms, a laundry room and an eat-in kitchen. The roof, facade and mechanicals have all been updated. What do you think of it and the ask of $1,500,000?
As anyone strolling the streets of Brooklyn might guess from the frenzied pace of building in the borough, commercial real estate in Brooklyn has reached new heights. Institutional investors, big players previously interested only in Manhattan, are now buying and selling in the borough, and the dollar volume of commercial sales in the first six months of this year is nearing the numbers for the entire year of 2013, according to a story in The Real Deal. It’s the “Manhattanization of the investment sales market,” according to a Massey Knakal executive quoted by the paper.
The number of deals increased dramatically in the first six months, with the dollar volume of deals completed equal to $3,400,000,000 — vs. $3,800,000,000 for all of 2013, according to numbers from Massey Knakal quoted in the story. There were 1,086 commercial sales in Brooklyn in the first six months of this year, an increase of 14 percent over the same period in 2013.
Not surprisingly, most of the activity was in Williamsburg, where 31 development sites traded hands in the first six months. But, surprisingly, Bed Stuy was hot on its heels, with 27 sites changing hands. Greenpoint hit third place, and Crown Heights was fourth, with 18 deals.
The average price of a deal was $3,000,000, according to TerraCRG. But there were some big sales above $30,000,000 — TerraCRG estimates 25 or 30 such deals will have closed during the first six months of the year. (In 2011, there were only three deals above $30,000,000.)
The sale of a stake in Atlantic Yards to Greenland and Fort Greene’s 470 Vanderbilt topped the list of the borough’s biggest deals — click through to the story to see the 10 biggest. Sales are still booming, according to sources, but running out of property or new restrictions concerning tax abatements or inclusionary housing could put a damper on the market, said The Real Deal.
One thing developers are not worried about is rising interest rates. “There is still so much money out there. The market will continue. I don’t think there are any clouds on the horizon,” investor Stephen Steiner of Stratus Capital Advisors told the paper.
A rendering has been revealed for the mixed-use development planned for what is now a gas station on the corner of Atlantic Avenue and Henry Street in Cobble Hill — but Community Board 6 has already rejected it. The look of the building for 112 Atlantic Avenue is “too glassy” and it “destroys the gateway entrance into the Cobble Hill Historic District,” DNAinfo reported members of the board said.
We have to admit we’re a little surprised – the design looks mostly brick to us and vaguely reminiscent of an early 20th century factory. It doesn’t look particularly offensive, nor does it look like a modern office building, as new developments so often do. (Although one board member said he thinks it does look like a modern office building.) Landmarks will take a look November 18.
Developers are Avery Hall Investments and On the Level Enterprises; the architect is BKSK Architects. Click through for a recent shot of the site. What do you think would work on this corner?