While overall Brooklyn rents dipped slightly in the last year, average Bushwick rents jumped from $1,853 to $2,005 since December 2012, the largest change of any Brooklyn neighborhood and an indication of high prices in Williamsburg pushing up rents nearby, according to a December report from MNS. In the same vein, Greenpoint saw the most new development sales in Brooklyn, with median price-per-foot jumping 20 percent to $814 in the last month. Average Greenpoint rents also rose 1.5 percent to $2,809 in the last year. And Bed Stuy and Crown Heights rents saw big rent increases of 6.5 percent and 10.8 percent, respectively, in the last year.
Meanwhile, 1,388 commercial properties changed hands last year for a total dollar volume of $4,050,000,000, which was a 31 pecent increase in the number of transactions, Ariel Property Advisors noted in their year-end report. Last year’s most expensive commercial sales included the Jehovah’s Witnesses iconic Watchtower buildings in Dumbo, which sold for $240,000,000, an apartment building at 110 Green Street in Greenpoint ($72,000,000), a 690,000-square-foot industrial site in Sunset Park ($91,500,000), and a massive commercial site and garage at 49 Bond Street in downtown Brooklyn ($70,000,000).
On the plus side, this three-family in Sunset Park has high ceilings, lots of nice old details such as plaster moldings, and a gorgeous brownstone exterior with carved relief work and the original front doors. There are also recently updated kitchens and baths.
On the not-so-plus side, it’s divided into three tiny floorthrough units, each with only one bedroom. And then what’s with the ask of $1,687,000? The last time we looked at Sunset Park listings, row houses were still trading for under $1,000,000. Have prices really doubled in the last six months?
A six-story hotel will rise at 833 39th Street in Sunset Park, according to a new building application filed last Friday. The 65-foot building between 8th and 9th avenues will have 88 units spread across 30,021 square feet. Four of the hotel rooms will be duplex suites. Flushing-based Michael Kang Architect will design the hotel. Amenities will include 20 parking spaces, an exercise room, laundry room, bicycle parking, a business center, restaurant and a “kitchen and accessory store,” according to the plan exam application.
The property had been a granite supply business with a storefront and large parking lot. Public records show it sold to an LLC for $3,700,000 in August. Another six-story hotel — with an unusual space-age look – is under construction down the street at 457 39th Street between 4th and 5th avenues. GMAP
A tipster sent us these photos and informed us that work had recently begun on a six-story hotel at 457 39th Street between 4th and 5th avenues in Sunset Park. The space-age-style building will have 70 units spread across 19,928 square feet of commercial space, an exercise room, breakfast area and eight outdoor parking spaces, according to new building permits issued earlier this month.
Michael Kang Architect is designing the building. An LLC bought the property for $565,000 last year and demolished a two-story brick house and a one-story garage.
We’ve included a photo of the building site after the jump. What do you think of the design of the hotel and the parking lot?
Learn about the history and architecture of Sunset Park during a walking tour of the neighborhood’s most interesting historic buildings this Saturday. The Sunset Parks Landmarks Committee is leading the tour, which will begin at the landmarked courthouse at 43rd Street and 4th Avenue and conclude in Brooklyn’s Chinatown at 60th Street and 8th Avenue. Guides will explore the nabe’s history, architecture, development, ethnic diversity, and the potential to become a landmarked historic district. The tour will take place Saturday at 10 am. A donation of $10 is suggested. You can register for a spot here.
The newly revamped Industry City complex in Sunset Park will host a pop-up marketplace showcasing New York City-based independent fashion designers beginning this weekend. The marketplace, called Fashion on the Factory Floor, will feature over 50 designers selling handmade clothing for men, women and children, as well as handbags, jewelry, and other accessories. There will also be several local food vendors present for hungry shoppers. The market will be open from 10 am to 6 pm on two weekends from November 23 until December 1. Industry City’s 16-building, 6,000,000-square-foot complex is located at 241 37th Street in Sunset Park.
After the jump, we’ve included a second photo of what the Fashion on the Factory Floor space looks like.
While nothing fancy, this new co-op listing at 856 43rd Street in Sunset Park has a clean, light feel and good prewar bones. With 780 square feet on offer and a monthly maintenance of just $470, the two-bedroom pad is a viable alternative for a small family at a price point — $329,000 — you won’t find in the more established brownstone neighborhoods.