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Time Inc. is moving to Brooklyn! Well, some of them are. And their dogs.

According to an internal memo that Keith Kelly of The New York Post got his hands on, Time Inc. CEO Joe Ripp plans to send the company’s technology, production and engineering (TP&E) department to spacious new offices in Industry City, the so-called “SoHo of Sunset Park.”  Also heading there will be a new “editorial innovation” team under former Entertainment Weekly Editor-in-Chief Matt Bean. (more…)

5.22.15 (8:00PM) Enjoy your weekend

A photo posted by @dominosugarfactory on

We’ve been following the Instagram account of Dominosugarfactory, an “eternal time lapse” of the iconic Williamsburg building, now part of the massive Two Trees redevelopment project. Later additions to the 1880s factory, technically three buildings located at 292-314 Kent Avenue, have been stripped away, and it will become office space.

So far, there are 196 photos here, some taken by day, some by night — all from the exact same location. The photos go back to January 2013 and show the complex as it looked before demolition started in October 2013, through demolition, and today.

Domino Sugar Factory Eternal Time Lapse [Dominosugarfactory]
Domino Coverage [Brownstoner]
First rendering by SHoP; second rendering by Beyer Blinder Belle

4.1.15 (7:03AM)

A photo posted by @dominosugarfactory on

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Industry City’s $1 billion plan to rezone and remake the Sunset Park waterfront area into a thriving destination for retail, Brooklyn “makers” and hotels is already encountering deep and powerful opposition. The community board, local elected officials from City Council to the U.S. House of Representatives, and community groups say they want heavy industry with its high-paying jobs, according to stories in Crain’s and The Wall Street Journal. (And just to be clear, no one is asking for housing.) Community group Uprose is planning a rally Sunday.

In Sunset Park, Doubts About Development Plan [WSJ]
Two Pols May Block $1 Billion Hipster Industrial Complex [Crain’s]
Industry City Coverage [Brownstoner]
Rendering from Industry City via Crain’s

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To undertake a $1,000,000,000 redevelopment that is supposed to deliver 20,000 jobs, Sunset Park waterfront industrial complex Industry City will need a rezoning to allow parking and a hotel, as well as $115,000,000 from the city to finance infrastructure improvements, execs said at a press conference Monday. Industry City also released tons of renderings of what the 32-acre area would look like after a remake, published in Crain’s. What do you think of the plan?

$1 Billion Mega-Project Will Be Major Test for de Blasio [Crain’s]
Renderings from Industry City via Crain’s

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Developer Rabsky Group has filed an application to rezone two blocks in Williamsburg’s Broadway Triangle, both part of the former Pfizer campus, to make way for two big mixed-use buildings with nearly 800 apartments, The Real Deal reported. Rabsky paid $12,750,000 in July 2012 for two properties there, which occupy the entirety of both blocks and are currently zoned for manufacturing.

The vacant properties, whose addresses are 249 and 334 Wallabout Street, total about 150,000 square feet. One of them is used for parking, and the Flushing G stop stops on the block.

If the rezoning were to go through, the properties could accommodate 622 market-rate units, 155 affordable ones and 32,000 square feet of retail, according to TRD. Back in 2012, the mammoth former Pfizer plant next door at 630 Flushing Avenue was converted to light industrial space, and the building is now home to a fashion accelerator, small food businesses, furniture makers and Brooklyn Grange.

Rabsky is also building on the next block, at 376-382 Wallabout Street, and is one of the partners developing apartments at the nearby Rheingold brewery complex in Bushwick, among other projects in Brooklyn. The Broadway Triangle has a contentious history, as various groups have clashed over building housing there.

Dushinsky’s Rabsky Group Plans Nearly 800 Units on Former Pfizer Site [TRD]
Pfizer Coverage [Brownstoner]
Broadway Triangle Coverage [Brownstoner]

Photo by Christopher Bride for PropertyShark

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The industrial warehouse at 29 Ryerson across from the Navy Yard in Wallabout has changed hands yet again, nearly doubling in price. Madison Realty Capital paid $45,000,000 for the storage facility, according to The Real Deal. The previous owner, 11-45 Ryerson LLC, now revealed to be headed up by real estate investor Chaim Miller, bought it in 2013 for $26,400,000.

It sounds like plans to redevelop the property into offices focused on tech tenants with retail below have not changed. “We are planning on renovating and bringing it to the level that a tech tenant would demand,” a Madison exec told The Real Deal. At one time, former owners planned to turn it into a hotel with a rooftop bar. Madison is also developing two large mixed-use apartment buildings nearby at 490 and 504 Myrtle Avenue, as the story noted.

Madison Buys Brooklyn Warehouse for $45 Million From Chaim Miller [TRD]
29 Ryerson Coverage [Brownstoner] GMAP

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We were amazed to see the spiffy new look at 156 Broadway when we happened by recently during a snowstorm. Brookland Capital has been remaking the dilapidated 19th century building, at one point a cabinet factory, for about two years.

The first three units, out of a total of eight, went on the market in late December. Then three more listings went up two weeks ago, and now two of the units are in contract.

The units are pricey, but they look good. They are all studios, but with unusual double-height ceilings and lofted bedrooms. The four units on the second floor have two levels and the four units on the top floor have three levels.

The firm does not typically develop in Williamsburg, where prices are among the highest in the borough. Brookland Capital purchased the building in 2012 for $2,650,000. The asks for the units range in price from $750,000 to $985,000.

Curbed wrote about the building when sales launched in December. Bel Air Design Group is the architect.

Click through to see what the building looked like before. What do you think about the transformation of the exterior?

156 Broadway, #3C [Aptsandlofts.com] GMAP
Condo Conversion of Long-Derelict South Williamsburg Building Almost Done [Brownstoner]

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The city has evicted residents of 10 apartments in a factory at 249 Norman Avenue in Greenpoint, citing safety concerns because the building has only one exit and no fire escape. Although the building is technically a factory with no legal residential units, a building department spokesman said the tenants can move in as soon as the owner, United Realty Corporation, corrects the problem, reported the Brooklyn Paper.

The landlord appears disinclined to do that, according to the story. Some of the tenants are immigrants and at least one couple is expecting a baby. The eviction came after years of inaction from the city, and it happened on the same day the D.A. announced arrests in widespread building department and HPD bribery schemes.

City Evicts Tenants From Greenpoint Lofts It Long Ignored [BK Paper]
Photo by Christopher Bride for PropertyShark

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The Brooklyn Army Terminal has announced plans to renovate another building in its massive, formerly abandoned complex in Sunset Park, the Times reported. The NYC Economic Development Corporation, which runs the terminal, is going to rehabilitate 500,000 square feet on seven floors in Building A, which stretches between 58th and 63rd streets along the waterfront.

Revamping the building, which has been abandoned since the ’60s, is expected to cost $100,000,000. The EDC plans to remove asbestos and install new freight and passenger elevators, electric service, life-safety systems, plumbing, heating and windows.

The terminal is also in the middle of renovating its former administration building, a 55,000 square-foot structure located just north of Building A along 58th Street. The military officially closed the terminal in 1966, transferring 3,200 civilian and military jobs to Bayonne, N.J., according to the Times.

Next Phase of Renovation to Begin at a Vast Military Remnant in Brooklyn [NYT]
Brooklyn Army Terminal Coverage [Brownstoner]
Photo by Nicholas Lemery Nantel

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TerraCRG is marketing 283 Greene Avenue, a two-story red brick factory that appears to be 19th century, as a residential conversion. The ask is $6,000,000, and the 13,279-square-foot Clinton Hill building has an additional 2,779 square feet of air rights. Currently home to Kilroy Architectural Windows, which has made windows for the Empire State Building and Statue of Liberty, the building is not landmarked.

The setup, which is not yet available online, notes that “condo pricing in the area is expected to reach the $1,200 per square foot level and the rental market for is exceeding $56 per square foot. Townhouses in the neighborhood have been achieving prices well over $2,000,000.”

A buyer could tear the whole thing down and build a new 16,085-square-foot apartment building. We are hopeful, though, that whoever buys it will keep the existing building and put an addition on top, with a setback. It is quite an attractive building as is, and of course old factory buildings can be quite desirable as residences. Inside, the building has exposed brick walls, an elevator shaft that has been converted into a closet, and tin ceilings in some areas‎.

“Developers are looking at this both ways, however we usually see conversions and loft buildings being more desirable considering the original details and unique attributes for building‎,” Melissa Warren, TerraCRG partner and senior vice president, told us. GMAP

Photo by TerraCRG

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A new report says the Port Authority should sell off two of its Brooklyn ports to developers to build housing and help generate some cash, Bloomberg reported. Selling the two money-losing shipping terminals would help the bloated agency make up the $80,000,000 in revenue it lost last year while operating New York City’s ports.

The two ports are the Brooklyn-Port Authority Marine Terminal, just south of Brooklyn Bridge Park, and the Red Hook Container Terminal next door, according to the report by nonprofit watchdog group Citizens Budget Commission. Both are located in the Columbia Street Waterfront District, west of Cobble Hill, and the Red Hook Container Terminal also extends south into Red Hook. They lost $205,718 and $184,788 per acre last year, respectively, but only support 9 percent of New York’s cargo volume.

Obviously any housing built right on the water would go for megabucks and raises the possibility of a variance for extremely tall luxury towers, a la Williamsburg and Greenpoint. No doubt affordable housing will be part of the mix — somewhere. There’s also the question of flooding.

The CBC also suggested the Port Authority could convert some of its existing buildings to a “modern industrial park” with space for light manufacturing, like the Brooklyn Navy Yard.

What do you think?

Port Authority Should Sell Brooklyn Marine Terminals, Group Says [Bloomberg]
Photo by Manuel Ascano

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The city’s long-delayed plan to reactivate the South Brooklyn Marine Terminal in Sunset Park as a shipping hub hit another roadblock last month. Sunset Park City Councilman Carlos Menchaca didn’t OK the handoff of the 11-acre site to the city’s Economic Development Corp. so leasing can begin, reported The New York Daily News.

Menchaca said he wants the city to put together a special development corporation for the property, similar to the one at the Navy Yard, that will give more control of the project to the local community. He also wants a jobs-training program for immigrants in Sunset Park and funds to rehabilitate abandoned green space on the waterfront.

The award-winning Sims Municipal Recycling Facility, designed by architect Annabelle Selldorf, also part of the revitalization plan for the pier, opened in 2013.

Sunset Park Councilman Sinks City’s Plan to Create Shipping Hub [NY Daily News]
South Brooklyn Marine Terminal Coverage [Brownstoner]
Photo by NYC EDC