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March 22, 2006
Near the Bridges, Huge Towers For Flatbush
We missed this Crain's article last month about the condo boom along downtown Flatbush. Three of the biggest projects to emerge from last Summer's rezoning efforts include:
1. 167 Johnson Place: 40-story and 35-story towers.
2. Flatbush and Tillary: Isaac Hager's 400-foot-tall tower.
3. Myrtle East of Flatbush: Several 30-ish-story towers.
Not surprisingly, in the last three years, prices for a buildable square foot in this vicinity have gone from $75 to $150, according to Massey Knakal. Update: Turns Out Brooklyn Papers also covered the story recently. Check it out below.
Condo Builders on Flatbush [Crain's via WiredNY]
Downtown Glitz Jumps Flatbush [Brooklyn Papers]
Comments
As much as I would love to see all of this development succeed, I have doubts about these buildings. They will all be in the shadow of the projects, and, really, where will all of these new renters coming from? Are that many people fleeing Manhattan?
Posted by: Anonymous at March 22, 2006 9:14 AM
This link doesn't work
Posted by: Anonymous at March 22, 2006 9:20 AM
Yes, this is interesting indeed. I think the first market to feel the effects of a shrinking housing market are going to be these towers, if they get built. University Towers, nearer downtown and the bridges off Myrtle, are some of the cheapest studios in all nearside Brooklyn, which tells volumes about the location. I'm just hoping that means I can afford one!
Posted by: Dave at March 22, 2006 9:22 AM
Both links are working for us...
Posted by: Brownstoner at March 22, 2006 9:30 AM
"Are that many people fleeing Manhattan?"
Maybe not, but the city's population is exploding, and the deamand for housing will be strong.
From today's NY Times:
". . .the city believes its population has grown by 125,000 since 2001 and is expected to increase by 200,000 more in the next five years. That would be the equivalent of "adding the entire city of Pittsburgh to the five boroughs," the mayor said."
Posted by: ECO at March 22, 2006 9:41 AM
While I am sure the new housing will be utilized the part I am sort of upset about is that this upzoning was originally touted to allow for more office development in downtown brooklyn - still havent heard about any of that type of development
Posted by: David at March 22, 2006 10:07 AM
don't forget about the bridgeview tower condos a block away from the manhattan bridge entrance.
Posted by: ltjbukem at March 22, 2006 10:08 AM
The city's population is increasing for several reasons. But I think one of the strongest is the fact that a lot of young kids are fleeing the smaller cities/towns in hopes of a more exciting, fulfilling life. This is nothing new, it's been happening for decades. The only difference is that it is occuring on a larger scale. I spoke to some long-time residents in south slope (actually greenwood cemetery vicinity) and they told me that there is a huge influx of kids from maine, vermont, mass, etc. They touch down in Brooklyn first, get acclimatized to the city, and then make the move to Manhattan. Don't worry, the renters will come.
Posted by: Anonymous at March 22, 2006 10:12 AM
I wonder if this Issac Hager is the same one who filed fraudalent financial statements with the SEC - I suspect it is
Posted by: David at March 22, 2006 10:18 AM
Interesting. Anyone know anything about Hager? The SEC doc says he's 72. Is that consistent with what people know about the developer Hager?
Posted by: Brownstoner at March 22, 2006 10:25 AM
Why are you look for 'fleeing Manhattan' to be new occupants. Boro of Manhattan's population is signif. smaller than boro of Brooklyn and boro Queens but bit larger than Bronx?
Reading the NYTimes too much?
Posted by: Anonymous at March 22, 2006 10:26 AM
Isaac Hager is in his early 30's at most, if not in his late 20's, I know him well, and he has developed some big things lately.
He is the developer of The Aurora, a new building on Bayard S. in Williamsburg, currently being marketed by the developers group, and he has a lot more coming to the market soon.
Posted by: mentch at March 22, 2006 10:45 AM
I just hope that they are interesting looking as this is the new Brooklyn skyline.
NO MORE BORING BUILDINGS!
Posted by: Anonymous at March 22, 2006 12:36 PM
Anon 12:36 PM,
I would imagine that the architectural specs are already set in stone. But, just suppose that it isn't, what buildings would qualify, in your opinion, as being 'interesting'. Please give specific addresses or links to online photos. I don't think most developers/architects would care what you think. But for arguments sake, let's say that they did and were browsing the comments on this site. Can you provide some examples. Constructive criticism is always welcome.
Posted by: Anonymous at March 22, 2006 12:52 PM
I am curious to see how that one on Myrtle will be. that is a really desolate stretch of the street, and it'd be great to see something decent there. Maybe I'm a pollyanna, but it seems like.. even if it's not the nicest buidling, it might be nicer than a boarded up check-cashing-place.
Posted by: Anonymous at March 22, 2006 1:15 PM
Hope when they build all of this new housing, they price it so that it sells/rents at prices that don't rule out everyone except Wall Street brokers, or 6 recent college graduates rooming in a 2 bedroom apartment. If I see one more building touting "luxury lofts/apartments/condos/apartments". Argh!! No one has ever been able to explain to me where all of these rich people are supposed to come from. Will everyone be spending 75% of their earnings on rent/mortgage? This city is in desperate need of affordable housing. All of the articles predicting population growth are not talking about hordes of Wharton grads descending on the city by the thousands, they are talking about immigrants, other Americans, as well as all of the middle to lower end of the economic spectrum people who flock to this city from all over the world. Where are they supposed to live?
Posted by: CrownHeightsProud at March 22, 2006 1:15 PM
Phew, it's really hard for me to imagine that people will rush to spend money here. It's not Fort Greene, it's not Brooklyn Heights or even DUMBO -- it's just crummy, ugly old downtown Brooklyn with the bullet-proof liquor store on Myrtle, the Metro Tech ghost town across the street, and the traffic, noise and pollution of Flatbush Ave. Yuck!
Posted by: Anon at March 22, 2006 2:05 PM
I have mixed feelings about the redevelopment. I live in University Towers and I have an awful feeling my skyline view will be gone very, very soon.
Posted by: Sarah at March 22, 2006 2:47 PM
Sarah, you're on the money. Take lots of photos and videos because that's all that you'll have left after those skyscrapers go up. The upside is that university towers won't be as isolated as it now appears to be. You'll be in the center of the mix (willoughby square); surrounded by luxury condominiums, additional park settings, etc. You'll be able to roll out of bed and walk to the upscale fulton mall, plaza, etc. You'll have your own downtown community, distinct from fort greene and clinton hills.
Posted by: Anonymous at March 22, 2006 3:00 PM
I actually like the design of metrotech. It's a great space to walk around. Many of the metrotech bashers on this post probably would feel differently if they took the time to explore it. It's really cool during christmastime. Plus, you have free entertainment in the summertime (concert series).
Posted by: Anonymous at March 22, 2006 3:01 PM
I, for one, am jealous of Isaac Hager. The biggest thing I've built is forty feet (four stories) tall. What does a developer aspire to if he's building gargantuan buildings so young. Times Square 110? (It could be like Taipei 101, but be nine stories taller and look like a giant stilletto heel)
Developers shouldn't be in such a hurry as young men. There is plenty of time for plowing through neighborhoods in the future. Just look at Bruce Ratner!
Posted by: Shahn Andersen at March 22, 2006 3:20 PM
East of Flatbush, on the north side of Myrtle, there's one narrow retail block, then four solid blocks of housing projects stretching to the east. How will the development on Myrtle east of Flatbush fit in (both literally and figuratively) with the Ingersoll and Whitman housing projects?
And does anyone have any idea what's going up in front of the ingersol houses, across myrtle from the duane reade?
Posted by: anon at March 22, 2006 4:18 PM
There are rumors floating around that the Ingersoll and Whitman housing projects will be converted to coops. I called hpd almost 3 years ago to inquire if this was true. The person that I spoke to said yes. However, I spoke to a friend recently and he said that it's all rumors. So, I'm not sure what's what.
The building that's going up across from duane reade is supposed to be a community center. I wish they would just get it over with. They've been building this community center for the last 3 years.
Incidentally, the housing projects are slated to get a make-over by Scarano Architects. They're supposed to get what looks like new copper dome roofs (green tinted). Looks really cool.
To see what it will looks like:
go to http://www.scaranoarchitects.com/
click on 'projects', then roll your mouse over 'affordable housing'.
I'm excited by this new look.
This might sound a bit naive to you design gurus out there but I actually like the work that Scarano is doing in Brooklyn. I'm not up on all the politics (e.g., maybe the firm is partially responsible for unsafe work sites) but it seems to me like he's bringing a lot of cool looking buildings to brooklyn.
Posted by: Anonymous at March 22, 2006 4:53 PM
Well, unless someone plans on training and then hiring a sizable population of the people in those projects, and I mean training them for real, viable-in-today's-marketplace-jobs, putting copper sheathing on the projects is the equivilent of gilding the birdcage. Looks pretty, but doesn't do a damn thing for the bird.
Posted by: CrownHeightsProud at March 22, 2006 8:07 PM
Oh, the malls! That's what I'm scared of. All the friggin malls. It's gonna be like Penn Station times 100.
Posted by: Anonymous at March 22, 2006 11:10 PM
Crown heights proud, those people in the projects should have some DESIRE to go out and get an education or training on their own. No one needs to go out and train them. Individuals need to take responsibilty for their lives.
Posted by: Ron-04 at March 22, 2006 11:16 PM
I'm not going to get into this same argument, yet again.
In a fair and equal world, you are right. That's not the world we live in.
Some people do persevere and make it out of there, most don't. Some don't want to, but most would leap at an opportunity to move on up and out.
My comments were more to point out the absurdity of spiffing up the projects so they will look good on the outside, while little or nothing changes on the inside. As I said before, a gilded cage is still a cage.
Posted by: CrownHeightsProud at March 22, 2006 11:37 PM
I've heard the project->coops conversion rumors for years. Exactly what I've heard is that the buildings are not city owned, have already been individually wired for utilities, people are being relocated to other locales (EastNY, Bronx) whenever busted for anything, and that large numbers of the units are empty. I Don't know the veracity of any claims.
That sports complex/community center.. not finished? Call me cynical, but I think it's the neighborhood that's not finished, in someones view.
Posted by: downtowner at April 4, 2006 10:29 AM
Who will buy there? Well, the new bldgs will be a block away from fully-sold Toy Factory Lofts, luxury condo bldg. Everything on the block is being knocked down to create new condos etc. Plus the strip on Myrtle is being completely redeveloped. Whole Foods rumored to go in on Willoughby, a short walk away. Ch ch ch changes ...
Posted by: TFL at April 5, 2006 11:33 PM
Ive dealt with isaac Hager for years. Hes a kind hearted soft spoken enjoyable individual. Hes true to his word and proud of his promises. I'm actualy looking forward in seeing his tower standing nice and tall!!!
Posted by: Eddie S. at February 20, 2007 12:50 AM
Isaac Hager that works for Sam Popack is as good as Sam Popack his boss
Posted by: guest at September 23, 2007 12:13 AM
Isaac Hager that works for Sam Popack is as good as Sam Popack his boss
Posted by: guest at September 23, 2007 12:15 AM
Isaac Hager is working for Sam and joe Popack.In case you do not know,Sam Popack is the convicted slum-landlord who was tried by Elizabeth Holtzman together with Spodak (the Drakula land lord).Isaac is his chief hanchman.
Posted by: guest at November 22, 2007 10:54 AM
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