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July 22, 2008

Development Watch: 314 12th Street

314-12th-Street-0708.jpg
Originally in foreclosure back in 2006, the property at 314 12th Street in the South Slope was purchased for $1,350,000 in late 2007, several months after someone filed a permit to demolish the existing three-story house and replace it with a new five-story structure. It took more than a year, but DOB finally approved that application last month and the work is already well underway. At this point, our expectations for new construction in this part of town are pretty darn low. The architect on this project, Truisisuk Design Group, however, appears to have done some attractive lofts in Manhattan, so maybe this won't be so bad after all. GMAP P*Shark DOB




Posted by Brownstoner at 2:00 PM | Comments (6)
Categories: Development, South Slope

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Why do you say, "our expectations for new construction in this part of town are pretty darn low"? I live in a new construction building (condo) "in this part of town" and I think that the work is great. Not everyone can afford to buy a condo and then spend an extra $50,000 on renovations....

Posted by: slopedoglover at July 22, 2008 2:17 PM

I'd say expectations are low because most of the new condos in South Slope appear to be shoddy, unattractive and overpriced.

Congrats on buying into a good building though. Which one did you opt for?

Posted by: SnarkSlope at July 22, 2008 2:49 PM

Unbelievable! Look that the back right portion of the excavation pit. No shoring or underpinning ... Complete undermine. That person that owns that white house on the right should be pissed. How do these developers get away with this stuff?!

Posted by: Mr Joist at July 22, 2008 2:56 PM

I had the same though as Mr. Joist. This looks like a really poor excavation team. Where is the sheeting and shoring?

Posted by: Boerum Hill at July 22, 2008 3:24 PM

Wow, unless they already backfilled the site, there sure doesn't look like there is any shoring along the rear lot line. You can see the limestone colored building in the rear is not that far from the excavation. Dangerous for both adjoining properties and persons working in the hole. I think a surprise visit by the DOB's tactical excavation squad is in order. Does Timothy Lynch, PE read Brownstoner?

I think the development history goes as follows:

Neglected wood frame wreck on nice 25' wide lot bought by upper manhattan couple who have architect file plans and get approval for demo and new construction of 5 story building. Put property back on the market. NJ developer buys property with approved plans in place, "saving time", hence the 1.3 million price tag.
check out this link, it has a drawing of the new building.
http://nyrej.com/20130

Posted by: IMBY at July 22, 2008 4:46 PM


I'm going into contract for an apartment in the "limestone colored building" in the rear: the windows face out onto the lot, and thus, will face out onto the new building. It is unclear to me from the drawing or the plans to what extent this new building will affect the light the apartment gets (or whether I'll be looking out directly onto a wall, for that matter). Does anyone know any more about this?

Posted by: nervous at January 29, 2009 10:18 AM

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