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July 20, 2007
Baruch Singer Buys Himself Some Dumbo
While we were out of the country last week, CoStar reported that 37-45 Bridge Street in Dumbo had been sold to Baruch Singer, one of the less popular figures in New York real estate. As you may recall, Singer (a google search for whom turns up numerous references to the word "slumlord") was wrangling with another pillar of the community, Joshua Guttman, in the wake of the Greenpoint fire last year, arguing that Guttman had illegaly voided his agreement to sell the massive waterfront property to Singer and had seized his $42 million deposit. (Anyone know if this case has been resolved yet?) Anyway, in May Singer paid $13.3 million for the 64,000-square-foot industrial building near the waterfront in Dumbo. According to the CoStar article, Singer already has approved plans to convert the building into 53 apartments. However, there's no record of this on the DOB website. Things may be getting a little close for comfort on Bridge Street, though, given that Guttman is still plugging away at this problem-plagued conversion just down the block at 53 Bridge. (There's still a partial Stop Work Order in place because Guttman has failed to pay his outstanding fines.) Ugh. Poor Dumbo.
Brooklyn Building Sells for $13M [CoStar via Brooklyn Enthusiast]
GMAP P*Shark DOB
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Comments
I have always dug the plans for the conversion of this building, which has these funky cylindrical spaces in most of the apartments because the concrete soap-making vats were too expensive to remove.
Posted by: Anonymous at July 20, 2007 12:58 PM
where can one see those plans?
Posted by: Brownstoner at July 20, 2007 2:08 PM
Great News everyone.....now we'll have 2 arsonists in the hood!!!!!!!!!!
Posted by: Liberty at July 20, 2007 2:40 PM
the plans were part of the BSA application to get a variance for use
Posted by: Anonymous at July 20, 2007 3:09 PM
i know baruch personally and he is not a slumlord also the greenpoint deal is not resolved but it will be shortly
Posted by: broker at July 20, 2007 7:14 PM
Please refer to the recent article which rebuts all articles about Singers poor real estate management. He is actually very involved with his properties and has a very good reputation with normal and legal tenants. Guttman is settling with Singer. Singer and company will develop the site. All Scarano sites have S.W.O. pending new permits.
Posted by: Anonymous at July 20, 2007 10:36 PM
Anybody who knows anything about real estate would Be able to decipher through the jack neufeld articles and realice that those articles were a personal attack rather than an accurate article. The soap building (37 bridge) will be a unique building in the sense that it keeps the old dumbo charm with an infusion of modernity. I would like the author of this blog to comment on singer after he sees the plans and the quality of work that will be done
Posted by: anonymous at July 22, 2007 10:22 PM
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