« Price Cuts at Das Haus Co-op of the Day: 101 8th Avenue »
October 9, 2007
Development Watch: 126 4th Avenue
The large development at Baltic Street and 4th Avenue, now almost complete, currently acts as the northern bookend to 4th’s construction boom. Like some of the other newbies farther down the avenue, the building is maybe not the most exciting structure in the world, design-wise. Unlike the Crest and Novo, though, word on the street is that this one’s going to be a rental rather than a condo (and that it was originally slated to be a hotel). The 50-some-odd-unit building recently lost its ground-floor scaffolding, which would seem to indicate that it’ll soon be marketable if not habitable, but we haven’t come across any listings yet. We’re betting a reasonably priced rental this close to the Atlantic-Pacific hub will have no problem doing brisk business.
Fantastic 4th? Eh, We'll See [Brownstoner] GMAP
Ugly Ass Functional & Simple Fourth Avenue Building Revealed [Gowanus Lounge]
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Comments
Jeez, wasn't there a time when buildings like this in the Soviet Union were held up by Western society as examples of how soulless communist ideology and its economic principles were?
Posted by: johnife at October 9, 2007 11:47 AM
This building has a big blank side wall with no windows facing Baltic Street! I find it shocking and unbelievable that anyone would build a building on a NYC street corner, and put windows facing the avenue but none facing the street. Don't light, air, views and cross ventilation mean anything?
Posted by: guest at October 9, 2007 11:55 AM
If the price is right, and the schools are decent, it will move like my bowels after eating beans.
While I thought "The What" was funny, I now think he's annoying because he posts the same stuff all the time. Just my $0.02
Posted by: guest at October 9, 2007 12:02 PM
Agreed with 12:02. Ban this sad little attention whore.
Or at least delete his massively off-topic repasted posts.
Posted by: guest at October 9, 2007 12:12 PM
Oh no, I can't post comments? Where the love??
Well it's a vehicle for open class warfare. But the crash is coming....
I hope you stay in the hood during this time of depression. It's going to be fun. I can watch the value of your homes go up in smoke.
I'm The What and I will be here for ever, do you understand that?!!
FOR EVER
The What
Posted by: guest at October 9, 2007 12:56 PM
Beaten badly by the Ugly Stick. Again and again.
Posted by: guest at October 9, 2007 1:01 PM
Seems that to design such thing in NY in 21st century means either to have lot of sense of humor or lot of cynics.
Posted by: guest at October 9, 2007 1:35 PM
Wow, you have to work really hard to achieve such an ugliness.
Posted by: guest at October 9, 2007 1:37 PM
Wait, are we completely sure this isn't a housing project?
Posted by: Jeremy at October 9, 2007 2:09 PM
how muh do you think rents will be in this building, in this section of park slope/gowanus?
Posted by: guest at October 9, 2007 2:17 PM
I think rents will be consistent, or slighlty less, with the new(ish) building on president and 4th - maybe around $2000 - $2300 for a 2 BR.
Posted by: guest at October 9, 2007 2:20 PM
Please post more buildings like this. They make me feel better about owning a house that all the chicken littles say is going to be worthless. In 15 years my mortgage will be paid off while rents at this building will have doubled or tripled. to $4K-6K per month.
Posted by: guest at October 9, 2007 2:36 PM
I didn't know NYU was building a new residence hall on fourth avenue
Posted by: pfa at October 9, 2007 3:21 PM
typical rents in this area are $2000 for a 1 bedroom.
not for a 2 bedroom.
Posted by: guest at October 9, 2007 3:26 PM
The developers are wisely converting to rentals. The condo market is busted since 'jumbo' mortgages are no more. This is a 'jumbo' class building, albeit ugly, and there is no way it would generate income in the present busted condo climate.
But the rental bubble has got to pop as well. Rents in NYC are way above sustainability and it's only a matter of time until the glut of over priced rentals forces prices downwards.
Posted by: guest at October 9, 2007 3:48 PM
"typical rents in this area are $2000 for a 1 bedroom."
Not on Fourth.
Posted by: guest at October 9, 2007 3:54 PM
BTW, this thing looks like the prison on Atlantic, LOL!! Could be the sister building..
Posted by: guest at October 9, 2007 4:13 PM
i know some people in a 3 bed on st.marks and 4th thats 2800.
Posted by: guest at October 9, 2007 4:19 PM
I think this is a product of the upzoning on fourth when things were booming...Throw any old thing up with four walls and some windows and they will surely move.
Now - Not so much.
Posted by: guest at October 9, 2007 4:24 PM
Another reason to leave NYC. I can see this crap from my front stoop. Goodbye NY it was fun for a while.Now it sucks.
Posted by: guest at October 9, 2007 4:43 PM
Goodbye 4:43, Dont let the door hit you on the way out.
Posted by: guest at October 9, 2007 4:45 PM
3:48: "Rental bubble." Wishful thinking. The only way this is going to happen is if you and The What round up some automatic weapons and gun down the rich people of NYC in the streets.
Bring extra ammo, because they is a lot of 'ems!
Posted by: guest at October 9, 2007 5:04 PM
Oh no, I can't post comments? Where is the love??
Well it's a vehicle for open class warfare. But the crash is coming....
I hope you stay in the neighborhood during this time of depression. It's going to be fun. I will watch the value of your homes go up in smoke.
I'm "The Twat" and I will be here for ever, do you understand that?!!
FOR EVER
The Twat
Posted by: guest at October 9, 2007 5:31 PM
If there was a rental bust, do you have any idea how many people would move to New York?
Rental rates keep a ton of people out of New York who would otherwise like to be here. If there was a bust, I think we'd see 2 million...instead of the already projected 1 million people to come here in the next 20 years.
Posted by: guest at October 9, 2007 5:45 PM
now I want to call for De Blasio to protect me from this sort of shit
Posted by: guest at October 9, 2007 6:36 PM
I bet DeBlasio is The What
Posted by: guest at October 9, 2007 10:11 PM
The architect for this piece of crap is Walter Maffei of Brooklyn.
Let him know.
Posted by: guest at October 10, 2007 1:30 PM
Just walked by this building this weekend and was marvelling at its ugliness. hard to believe some of the crap that's getting built on 4th ave.
Posted by: guest at October 10, 2007 4:12 PM
Walter Maffei is an ass clown with no talent or class.
Posted by: guest at October 10, 2007 10:43 PM
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