Williamsburg
February 8, 2010
Push and Pull Over Burg Affordable Build
The Post brings an update about an affordable housing development that's been in the works in Williamsburg for several years. The project, which has been in the pipeline since '07, is being built via a partnership between a firm called Yuco Real Estate and HPD; plans recently unveiled to the Community Board 1 call for about 90 rental units on a few lots, most on Ten Eyck Street (one of them is pictured above). CB1's land-use committee is critical of several aspects of the plans, particularly that the overwhelming majority of the apartments are supposed to be studios and one-bedrooms, and that most would be made available to people who make 60 percent of the area's median income. "Our initial concern in HPD awarding the sites to a private developer was how affordable the apartments would be to those most in need in our neighborhood,” said CB 1 member Esteban Duran. "Yuco should provide a lower AMI range to bring it in line with what local community based housing organizations would offer." The board has asked the developer and HPD to present plans to the board again in a few months.
Yucon't Always Get What You Want [NY Post] GMAP
Photo from Property Shark.
February 2, 2010
385 Union Avenue 25% Rented
Either we have an over-inflated sense of self-importance or the marketing folks at 385 Union Avenue are hopelessly out of touch. When we called to check up on the 47-unit project, the broker at the rental office had never heard of your friendly neighborhood real estate blog. Regardless, they were nice enough to cough up some basic stats. Evidently, it's been a rental "for some months now" and "about a quarter" of the units are rented. None of the prices are on the website, but this one bedroom popped up on Streeteasy last week for $2,320 a month and we were told that a two-bedroom on the third floor is going for $2,970 after you factor in a month of free rent. Seem pricey to you?
Development Watch: 385 Union Avenue [Brownstoner] GMAP
February 1, 2010
Warehouse 11 Sales: Do or Die For Condo's Developer
Turns out that fire sale at Williamsburg's Warehouse 11—which reportedly involved a whole mess of units going into contract for less than $600 a foot—was primarily stoked by lender pressure, according to an article in the Real Deal. The magazine reports that while "a spokesperson for Aptsandlofts.com said the price slashing is due to market conditions, but a source with knowledge of the situation said the fire sale marks an effort to ratchet up cash before a lender-imposed March 31 cut off date. Developer McCaren Park Mews LLC initially faced a Dec. 21, 2009 deadline to buy back the debt, according to bankruptcy filings. But, the developer had been 'able to renegotiate terms with the bank,' the spokesperson said, and extend the closing deadline to March." The story says the building's developer needs to come up with around $30 million to buy back the debt, which was originally around $50 million.
Warehouse 11 races against clock [The Real Deal]
Price Cuts Lead to Feeding Frenzy at Warehouse 11 [Brownstoner] GMAP
January 27, 2010
Brooklyn Food & Drink Round-Up
Now Open: Dewey's and No Plates
The Brooklyn Paper reports that Dewey’s candy shop is now open at 41 Front St. between Pearl and Jay streets in Dumbo. "The new confectionery caters more to candy-loving grown-ups than kids, stocking an armory of nostalgic treats like Wax Lips and Fun Dip in addition to standard fare like Snickers bars," writes Kristen V. Brown... And according to Gothamist, No Plates is now open at 280 Bedford Avenue, a space formerly occupied by Khim's Millennium Market: "Menu options include sandwiches such as Pork Duo (tender braised pulled pork and pork belly with pickled daikon, greens, and spicy mayo. Served with fries for $13.) There is a soup of the day, Fried Calamari with Wasabi Mayo, Popcorn Shrimp, and entrees including Classic Steak Tartar ($13) and Pan Seared Tilapia."
Coming Soon: St. Anselm and Dry Dock
Off The Presses says that Joe Carroll, of Fette Sau and Spuyten Duyvil, is getting set to open St. Anselm at 355 Metropolitan Avenue. Carroll says, "We're doing burgers and dogs and also doing old school diner, blue-plate special things. A lot of offal, a lot of organ meat dishes, and a pretty sizable wine list. We're trying to do something simliar in wine to what we do at Spuyten Duyvil with beer." Off The Presses also reports that "work has been stepped up" at the new wine shop, Dry Dock, on the corner of Van Brunt and Van Dyke in Red Hook.
Behind the Bar with Freddy's Donald O'Finn
485 Dean Street, Prospect Heights
Freddy's, located in the Atlantic Yards footprint, has two years left in their lease and all intentions of sticking it out. Metromix chats with bartender Donald O'Finn and asks if the bar might relocate to "a rumored Third Avenue location in the Gowanus" in the future. His reply: "I’ve thought about it. What I would like to do is get one block down into the industrial area. To be really close to the residential areas, but you don’t have to worry about neighbors."
After the jump: GQ checks out Brooklyn Kitchen, Chowhounds gripe about Mile End, and Edible Schoolyard is coming to Brooklyn...
January 26, 2010
A Couple of Short Sales at Schaefer Landing
Yesterday Curbed reported that two short sales at Schaefer Landing, the first of the Williamsburg Waterfront developments to get built post-rezoning, had gone through. The first, Unit #20A, was bought for $1,232,000 in 2006 and ended up going for $715,000; the second, Unit $7A, originally sold for $925,000 in 2007 and was picked up by a bargain hunter recently for $665,000. The two short sales came in at $590 and $523 per square foot, respectively. Low, but, points out Curbed, not as low as this unit that's currently on the market for less than $500 a foot.
Short Sale Success at Schaefer Landing [Curbed]
Photo by themikebot
Appeals Court Removes Hurdle to Bushwick Inlet Park
An Appeals Court decision from two weeks ago (unearthed this past weekend by the blog Brooklyn 11211) has put to rest fears among Williamsburg residents that a large powerplant could be built in their backyard and cleared the way for the realization of a vision for waterfront parkland in North Brooklyn. After denying an application by TrandGas Energy to build an above-ground power plant at North 12th Street and Kent Avenue in 2004, the siting board rejected a follow-up proposal in 2008 for a below-ground plant, a decision upheld by the Appellate Court last year. Now, is what sounds like is the final nail in the coffin, the New York State Court of Appeals has refused to hear TGE's appeal of the appellate ruling. Bottom line: "The City can now move ahead with condemnation proceedings to acquire the property," writes 11211. "In other words, we are one step closer to a park on the Bushwick Inlet."
Fire at 149 South 4th Street
A reader sent in this photo of a big fire shortly after midnight at 149 South 4th Street in Williamsburg. No word on whether anyone was badly hurt or killed, but the tipster noted that FDNY was quick to arrive on the scene. You can see another photo of the scene on the ground if you click through below. Did anyone else witness this? GMAP
January 25, 2010
Development Watch: 29 South 3rd Street
Some day the residents of this new building at 29 South 3rd Street in Williamsburg will look out on the New Domino cluster of buildings, but for now the 24-unit development looks out on the large empty lot across the street. GMAP P*Shark DOB
January 21, 2010
Price Cuts Lead to Feeding Frenzy at Warehouse 11
Evidently if you price condos at $550 a foot in prime Williamsburg they will sell. That's the lesson from last week's open house at Warehouse 11, the 120-unit, Karl Fischer-designed condo that's staging a remarkable turnaround. Earlier this month, aptsandlofts.com relaunched the building's sales process by slashing average asking prices from over $700 a foot to the mid-$500s (with some as low as $450). Last night was the first time buyers could step up, and step up they did. According to a NY Post article today, 34 offers at full asking price were accepted last night (while another 20 or so below asking price were rejected); thirty people were lined up ahead of time to get in the door first. Don't get too excited though—at some unknown milestone, prices are going to be raised again.
Open Fire [NY Post] GMAP
34 Accepted Offers in One Night [Curbed]
20% Off at Warehouse 11 [Brownstoner]
Warehouse 11 Seeking a Savior [Brownstoner]
January 14, 2010
W'burgers Can't Get Enough of New Rental Tower
Remember the new tower that's been going up on South 8th Street in Williamsburg that we featured back in August? Well, it turns out it's quite a hit. According to a post on Curbed yesterday, the opening weekend at the 66-unit rental building prompted a spate of bidding wars. That's right, folks, bidding wars! Granted, the apartments look pretty nice but it's hardly a seller's (or landlord's) market out there. GMAP
January 8, 2010
Foreclosures Migrating Up the Value Chain
184 Kent Open for Business
Curbed broke the news yesterday that 184 Kent, the once-controversial candidate for landmarking, has begun leasing with an eye towards March 1 move-ins. There are currently 22 listings up on StreetEasy ranging in monthly rent from $2,270 for the most modest one-bedroom to $6,425 for the swankiest three-bedroom. As Curbed points out, however, these listing numbers are slightly misleading as they show the adjusted cost after accounting for the owner's throwing two free months of rent into the deal. The finishes look very nice to us and the location's great if you are into the Williamsburg thing and enjoy the waterfront.
Rentals Unveiled at Williamsburg's 184 Kent [Curbed]
Seven Windows To Go at 184 Kent Avenue [Brownstoner]
January 7, 2010
20% Off at Warehouse 11
This one slipped through the cracks earlier this week... Curbed reported that Warehouse 11, a 120-unit Karl Fischer special that looked headed for the junk heap last spring, has staged a remarkable come-back in the form of some serious price cuts. In May, the average price per square foot in the building was $721. There are now 18 listings up on StreetEasy that come in "below even perhaps the most dire Williamsburg predictions" at an average of just $557. Aptsandlofts.com has the listings. GMAP
January 6, 2010
Closing Bell: Bicycle Parking Fail in The Burg
It's hard to say whether this bike owner had the bad luck to park here or good luck that the construction crew was so considerate!
Photo by Chrissie Brodigan
January 5, 2010
City Planning Certifies Domino Sugar Factory for ULURP
Yesterday the New York City Department of City Planning certified the development plan for the former Domino Sugar Factory, kicking off the seven-month ULURP process. Known as New Domino, the project is slated to bring 660 units of affordable housing (breakdown by income category on the jump) and 1,540 units of market-rate housing to the Williamsburg waterfront; there will also be 128,000 square feet of retail, 98,000 square feet of commercial office, and 147,000 square feet of community facility space. The ambitious undertaking, which has been in the planning stages now for almost five years now and includes the preservation of the existing landmarked refinery building and the creation of 11 acres of public space, is being developed by the Community Preservation Corporation and designed by Rafael Vinoly Architects and Beyer Blinder Belle. "This is an important moment for us, the community and the city; acres of parks, views of three bridges and affordable housing for hundreds of families," said Michael Lappin, President and CEO of the Community Preservation Corporation (CPC) and CPC Resources, Inc. "We look forward to full community participation as we enter the formal public review process.” According to the blog Brooklyn 11211, which had an extensive post on the topic yesterday, the presentation to Community Board 1—the first step in the land review process—could happen as early as next week with a full board vote coming by the second week in February.
Big Plans for Old Sugar Refinery Face Review [NY Times]
City Begins Review of $1.2B Domino Project [Brooklyn Paper]
City Planning Certifies Domino Sugar Waterfront Development [Brooklyn Eagle]
City Planning Certifies Waterfront Project [Courier Life]
New Landscape Renderings on 'New Domino' Site [Brownstoner]
Inside the LPC Meeting About Domino: New Plan OK'd [Brownstoner]
LPC Still Not Buying Domino Plan [Brownstoner]
New Domino Plans Falter at LPC Hearing [Brownstoner]
More Domino Plans [Brownstoner]
Domino Sugar Factory Proposed Addition Revealed [Brownstoner]
BREAKING! LPC Approves Historic Designation for Domino [Brownstoner]
CPC Shows and Tells Its Plans for Domino [Brownstoner] GMAP
Plans for 'New Domino' Released by City Planning [Brownstoner]
Continue reading "City Planning Certifies Domino Sugar Factory for ULURP"
January 4, 2010
Development Watch: 236 North 7th Street
This new building going up at 236 North 7th Street in Williamsburg doesn't exactly blend into its surroundings, but then again its neighbors aren't exactly bound for the architecture history books. Still when this seven-unit piece of new construction reaches its ultimate four stories, it'll really stick out. At least it's got large windows and appears symmetrical. Could be worse. GMAP P*Shark DOB
December 30, 2009
Price Cuts at 125 North 10th Street
The new condo building at 125 North 10th Street in Williamsburg got some nice ink in The Times last month when The Hunt column featured a couple opting for a two-bedroom in the building. The press couldn't have hurt, but it wasn't enough to remove the need for a little pre-Christmas price-cutting. According to StreetEasy, two units had their asking prices reduced by more than 10 percent last week. A 1,048-square-foot two-bedroom went from $754,500 to $649,000 and a 1,054-square-foot penthouse went from $1,100,000 to $945,000. The broker's website shows that 24 apartments are still available. Out of 86 total, that's still not too bad a batting average in this market. GMAP
December 22, 2009
Streetlevel: Yogurberry Bearing Fruit No More
It looks like Yogurberry at 209 Bedford Avenue has bitten the dust. Given this recent review, though, its demise should come as no surprise. The real surprise is the fact that more of these frozen yogurt places—like the one on Dekalb in Fort Greene or the slew of them on Court Street—haven't closed yet. GMAP
Less Money, Mo Problems for 20 Bayard Developer
According to a story in the Real Deal, the developer of 20 Bayard—who filed for Chapter 11 last month—is engaged in legal haggling with his lender over the use of rental income. Developer Isaac Hager's lender W Financial Fund is asking a judge to reject Hager's motion to use rental income from the building to cover maintenance expenses until a credit reorganization plan is hammered out. The condo is half sold and half rental. The story also puts the bankruptcy of 20 Bayard into perspective: "The 20 Bayard collapse is one of the few bankruptcy filings of a completed condo project in New York since the September 2008 collapse of Lehman Brothers. Lenders very often include a so-called "bad boy" clause that holds developers personally liable if they file their projects into bankruptcy to avoid a default." Two other examples are an Upper West Side building and Greenpoint's Viridian.
W Financial Fights 20 Bayard Plan [The Real Deal] GMAP
20 Bayard Goes Belly Up [Brownstoner]
Photo by digitalfront.
City Council Approves Broadway Triangle Rezoning
Two weeks after its Land Use Committee gave its approval, the City Council voted 38-10 in favor of a rezoning plan that would make way for the creation of 1,851 units of housing on a 31-acre tract of land at the intersection of Bed Stuy, Williamsburg and Bushwick known as the Broadway Triangle; the project is supposed to include over 800 units of affordable housing. The ten dissenting votes reflected widespread concerns of a process that lacked transparency and favored certain groups in the neighborhood over others. That favoritism prompted a coalition of 40 neighborhood groups to file suit back in September; The Brooklyn Paper reports that the coalition will be filing an expanded suit this morning in the wake of the council vote.
Housing Plan Approved for Broadway Triangle [NY Times]
Council OK’s Broadway Triangle Rezoning [Brooklyn Paper]
A Step Forward for Broadway Triangle [Brownstoner]
The Fate of the Broadway Triangle [Brownstoner]
Community Groups Sue City over Broadway Triangle [Brownstoner]
December 21, 2009
Development Watch: 203 North 7th Street
This lovely little lady at 203 North 7th Street in Williamsburg is being brought to you courtesy of Scarano Architects. The four-story building is scheduled to have 10 FAR-maximizing residential units at the end of the day. GMAP P*Shark DOB
Checking In On The Rialto
When we checked in back in May, The Rialto was off to a good start, with 10 out of 31 units in the hopper. How's the 31-unit condo at 150 North 5th Street doing now? Well, StreetEasy says that there are seven units left, but the broker we talked to said that three of those are already spoken for, so they're down to four. The location and the FHA financing can't have hurt.
Signs of Life for Williamsburg Condos? [Brownstoner] GMAP
New Burg Condos Come to Market [Brownstoner]
Burg Bikers Protest But Keep it Modest
On Saturday night a group of bicyclists planned a topless ride to protest the DOT's removal of the Bedford Avenue bike lane but, faced with the frigid elements, they ended up keeping their shirts on. As shown in the Daily News' video above, some of the riders wore plastic breasts outside their jackets; riding topless was supposed to protest the Orthodox community's objections to the former lane's scantily clad riders. The quote of the day, though, came from a cop who told Gothamist, "I want to see some boobs!" The Daily News estimates that around 15 people took part in the ride, while the AP called it "dozens." Before the event occurred, Transportation Alternatives issued a statement denouncing it: "A bike lane on Bedford Avenue is about transportation and road safety. Rhetoric or acts that pit neighbors against one another are not just irrelevant to this discussion, they are flat-out offensive."
Topless Bike Protest Called Off [NY Daily News]
"Topless" Bedford Bike Lane Protest Draws Clothed Cyclists [Gothamist]
Bike Lane Protest Rides On [AP via NY Post]
TA Denounces Naked Bike Ride [Voice]
December 17, 2009
Co-op of the Day: 374 South 2nd Street, #38
This one-bedroom at 374 South 2nd Street in Williamsburg isn't going to end up on the pages of Architectural Digest anytime soon but, at $227,000, might be a good starter apartment for some young whippersnapper. The 525-square-foot apartment has a little old-school charm in the form of the living room wall and the bathroom and kitchen look perfectly functional. Waddya think?
374 South 2nd Street, #38 [OLR] GMAP P*Shark
December 16, 2009
Development Watch: 186 Grand Street
When we first laid eyes on the new building going up at 186 Grand Street in Williamsburg we thought it looked like the handiwork of Radusky et al at Bricolage. Then we remembered that we'd covered it back in early 2008 when there was a hole in the ground and a fuzzy rendering to go by. Based on that rendering, one commenter had this to say: "The devil's in the details on this one. Could be good or could be very, very bad." Based on what's been built so far, it's looking more like the latter, we'd say. Those windows lintels are a bummer.
Development Watch: 186 Grand Street [Brownstoner] GMAP P*Shark DOB
Latest Restaurant Additions
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Bridgeview Diner
added February 9, 2010 12:00 PM in Bay Ridge -
222 Franklin Street
added February 8, 2010 12:00 PM in Greenpoint -
La Petite Provence
added February 5, 2010 12:00 PM in Carroll Gardens -
Purple Yam
added February 4, 2010 12:00 PM in Ditmas Park -
Kasia's Restaurant
added February 3, 2010 12:00 PM in Williamsburg -
myThai
added February 2, 2010 12:00 PM in Bay Ridge -
Vinnie's Pizzeria
added February 1, 2010 12:00 PM in Greenpoint, Williamsburg -
Vesuvio
added January 29, 2010 12:00 PM in Bay Ridge -
Sue Perette
added January 28, 2010 12:00 PM in Carroll Gardens -
Radegast Hall & Biergarten
added January 27, 2010 12:00 PM in Williamsburg