Full Makeover for Wood Frame House at 162 Hall Street

There’s a wonderful row of a dozen or so wood frame houses on Hall Street between Myrtle and Willoughby Avenues that feels largely untouched by time — or by the money that’s flowed into the neighborhood over the past decade. One of these houses, No. 162, is in the process of being gut renovated. In recent weeks, it’s gotten an entirely new exterior, wood cladding that will presumably be painted. Given that the house was boarded up before the renovation began, we’re assuming everything’s being redone from scratch on the inside. Even if it was a complete wreck, though, the price this place changed hands for last year seems suspiciously low: $250,000. The house had been in foreclosure so maybe someone just got lucky. GMAP
Foreclosure for Giant Lot on Flatbush Ave Extension

Now this is interesting: One month after the DOB renewed permits at 85 Flatbush Avenue Extension, the DoBro lot once slated to be a 21-story residential tower, the entire site’s gone up for foreclosure. Property Shark shows a lien of $17,291,822. The Real Deal reported this January that the site was up for sale — with the massive lien attached. Apparently no takers, probably because it’ll be up for auction on Nov. 29 — check out the details after the jump. But why would anyone go through the trouble of renewing the building plans and switching the architect from Ismael Leyva to Gene Kaufman if foreclosure was so close? Anybody have more intel on this site? We’re dying to know!
Permits Renewed for Tower at Flatbush Extension [Brownstoner] GMAP P*Shark DOB (more…)
Foreclosure for 23 Caton Place Development

Another chapter for the 23 Caton Place saga: This would-be condo building has been stalled for about four years and now it looks like the whole site is under foreclosure. This summer, the Windsor Terrace-Kensington Patch reported that the site sold and was back under construction. Public records show no sale, but the DOB approved this application for new building plans just this month. The real doozie is the foreclosure notice up on PropertyShark — check it out after the jump. The building’s still under ownership of “Caton on the Park LLC” and they’ve got a lien for $23,741,928. The auction will take place Nov. 9 at Kings County Supreme Court.
Development Watch: Work Resuming at 23 Caton? [Brownstoner]
At Last, Cleaning up 23 Caton Avenue [Brownstoner]
Trying to Make Lemonade of Lemons at 23 Caton [Brownstoner]
The Decline and Fall of 23 Caton Place [Brownstoner]
Little Progress on 23 Caton Place [Brownstoner] GMAP
Bank Sues Caton Place Developer [Brownstoner] DOB
Work Stops at Caton Place Condos [Brownstoner]
At 23 Caton Place, Laborers Labor on Labor Day [Brownstoner] (more…)
Nonprofit Turns to Kickstarter to Buy Slave Theater

A nonprofit called New Brooklyn Theater is trying to raise $200,000 on Kickstarter by Oct. 4. The group intends to use the money as a down payment to purchase the Slave Theater, the historic Afrocentric cultural institution whose building at 1215 Fulton Street in Bed Stuy is scheduled to be auctioned off today at 2:30 pm. New Brooklyn Theater was created by two theater professionals with no apparent existing ties to the Slave Theater. They pledge to restore the building and maintain it as a performing arts center featuring Brooklyn artists, foster original work from students in public and charter schools in the neighborhood, and offer tickets at affordable prices. The group’s multi-million-dollar four-phase plan includes fundraising from corporate and development partners. Artistic Director Jonathan Solari is a theater, opera and film director. Executive producer Sarah Wolff previously produced public programming at the Museum of Jewish Heritage. So far, 46 backers have pledged nearly $14,000.
Foreclosure Auction Set for Slave Theater [Brownstoner]
Slave Theater Vacated, but Questions of Ownership Linger [Brownstoner]
Bed Stuy’s Slave Theater Still Looking for Buyer [Brownstoner] GMAP
Photo by Andreas Burgess
Foreclosure Auction Set for Slave Theater

Mired in legal infighting and with a tax lien of $190,106 hanging over its head, the historic Slave Theater at 1215 Fulton Street in Bed Stuy has gone into foreclosure and is set to be auctioned off at Aug. 9 at 2:30 pm, according to PropertyShark. The putative owner is Rev. Samuel Boykin of Ohio, nephew of Judge John L. Phillips Jr., who bought the theater in 1984 and named it to remind Black people of their history. Filled with African-American political art, the theater hosted speakers and showed films of, by, and about Black people. Phillips died without a will, and ownership of the theater has been contested by two former associates of the judge, Clarence Hardy and Rev. Paul Lewis. At one point, Boykin said he hoped to sell the building for $3 million. Any bets what it’ll fetch if the auction goes through?
Slave Theater Vacated, but Questions of Ownership Linger [Brownstoner]
Bed Stuy’s Slave Theater Still Looking for Buyer [Brownstoner] GMAP
Photo by Hobo Matt
Eviction Coming for Broken Angel’s Arthur Wood
We may be nearing the end of the long, sad history of the Broken Angel building in Clinton Hill. Today The Local reports that building lender Madison Realty Capital now owns Broken Angel, once envisioned as an artist community, and the vacant side lot. Owner Arthur Wood first filed a lawsuit against Madison Realty in 2009 after Wood and his development partner defaulted on a $4 million mortgage and Madison Realty initiated foreclosure proceedings. There were no other bidders at the auction, which was briefly delayed after efforts by Wood. The bank has not yet moved to evict Wood but he believes it’s imminent. He’s also tried to appeal to the US Supreme Court and his case was denied. Wood owned the building since the early 70s, but his wife’s death, a fire, the subsequent costly building repairs, and a failed development plan led to this endpoint.
Arthur Wood Awaits Sheriff to Evict Him from Broken Angel [The Local]
Broken Angel Foreclosure Case Delayed [Brownstoner]
Broken Angel is Officially Broke [Brownstoner]
Huge DoBro Lot Under Foreclosure Pressure
A huge parking lot at in Downtown Brooklyn—75 Schermerhorn Street to be exact—is scheduled to head to auction this month. The parking lot is about 17,000 square feet and stretches through Schermerhorn to Livingston Street. The lot is currently zoned for commercial purposes, with a maximum usable floor area of 103,707 square feet, according to Property Shark. The location is likely to appeal to developers, but the massive lien of $25,814,150 may be a slight turn-off. We’re keeping an eye on this one. GMAP P*Shark
Occupiers Booted From East New York Foreclosure
Back in January, there was news about how the Occupy Wall Street-related takeover of a vacant house in foreclosure in East New York was just a publicity gimmick, and that the homeowner, Wise Ahadzi, who abandoned the house a couple years ago after foreclosure proceedings began, wanted his property back. The OWS group living in the house said they didn’t know that Ahadzi wanted his property back, and said that they were working with him. The latest news, then, is that the Post says the police came to the house and arrested the Occupy-related folks living in it: “Police arrested six Occupy Wall Street members squatting inside a Brooklyn home five months after the movement seized the property amid grand promises to ‘renovate’ it and move in ‘a homeless family.’ Instead, the group moved itself in, wrecked the place, and made a hard situation even worse for a single father who actually owned the East New York home and was trying to save it from foreclosure. Cops cuffed the occupiers after they allegedly smashed a window to get into 702 Vermont St. on April 1.” Ahadzi said he is extremely pleases that the occupiers have been removed from the premises. According to the article, the “bill to fix the damage is at least $12,000, a source said.”
Occupy Squatters Finally Flushed From B’klyn Home [NY Post]
Organizers Defend Occupation of ENY Foreclosure [Brownstoner]
Photo by Brennan Cavanaugh
Brooklyn’s Long Foreclosure Process: Help or Hindrance?
Via Bloomberg News:
New York’s Kings County, also known as Brooklyn, wears the crown as the U.S. community where it takes longest to foreclose on a delinquent homeowner. Lenders took an average of 1,187 days — more than three years — to repossess a home in Kings County during the last three months of 2011, according to data compiled by Bloomberg. The protracted process led to just 32 fourth-quarter foreclosure completions in a borough where more than 27,000 homes got delinquency notices last year, New York Department of Financial Services data show. The 10 U.S. counties with the longest foreclosure timelines were all in New York and New Jersey. While delays give some struggling homeowners time to renegotiate loan terms and limit supply on the market, they eventually depress housing values by postponing the inevitable for borrowers who can’t pay their mortgages or maintain their properties, said Jonathan Miller, president of New York appraiser Miller Samuel Inc. “You aren’t doing anybody any favors in the long run,” he said in a telephone interview. “In markets where it takes longer for the foreclosure process, it takes longer to recover.”
As we have been tracking regularly, New York City has seemed relatively immune to the foreclosure morass that has plagued the rest of the country. This article begs many questions. First: Will we not actually have a clear view of “the market” until foreclosures jump through all the necessary hoops? Second: To what extent does the protracted foreclosure process in Brooklyn actually lead to homeowners keeping their homes? Third: Does New York’s foreclosure system need to be reformed? We don’t know the answers to any of these questions. And this doesn’t even touch commercial properties, as far as we know.
Brooklyn Shelters Homeowners With Longest Foreclosures [Bloomberg]
PropertyShark: Decline in Foreclosures Continues [Brownstoner]
Photo by dominic bartolini
Reporter Rides in Pouch of Brooklyn Foreclosure Court
As we reported last fall, protesters have been showing up to Brooklyn foreclosure auctions, singing during the proceedings, and then getting arrested. A Wall Street Journal reporter, Anne Kadet, who was covering the auction shown in the video above on Thursday, ended up being detained for three hours and charged with disorderly conduct even though she claims was observing the proceedings as a journalist. To the block quote:
When court officers moved to arrest the protesters and clear the courtroom, Ms. Kadet said in an interview Friday that she was handcuffed and detained. She said she was taking notes at the time but didn’t otherwise identify herself as a journalist. “They started arresting everyone who was singing, so I moved up close to the front of the courtroom,” Ms. Kadet said. “I was just standing there taking notes. I wasn’t singing.” Ms. Kadet said court officers removed her from the courtroom and held her for about three hours in a nearby room with the protesters. She said her hands were bound tightly in plastic restraints. She was eventually issued a summons for disorderly conduct and released.
The court spokesman says Kadet hadn’t identified herself as a journalist. Here’s the Journal’s response: “‘Anne’s arrest, while reporting on a matter of public interest, is an outrage and a clear violation of the First Amendment,’ said Ashley Huston, vice president of corporate communications for the Journal and Dow Jones, in a statement. ‘The officers’ actions were completely unjustified, and we will insist that the charge for disorderly conduct be withdrawn immediately.’”
Journal Reporter Arrested at Brooklyn Courthouse [WSJ]
Foreclosure Auction Foreclosed on in Brooklyn [Youtube]
BREAKING VIDEO: Occupy Wall Street Protesters Arrested For Disturbing Foreclosure Auction at Downtown Brooklyn Court House [Brownstoner]
Foreclosures: Still Down, but Slight Rise in Lis Pendens
PropertyShark just released a quarterly report covering first-time residential foreclosures in the city, and while the downward trend of first-time foreclosures continues, there may be a slight sign of worry on the horizon: Pre-foreclosures, or lis pendens, were up 13 percent, to 2,355, in the first quarter of this year, as compared to 2,090 in the fourth quarter of last year. Let’s talk Brooklyn, though: The borough was the only one in NYC in which newly scheduled foreclosures rose slightly (5 percent, 40 in total) compared to last quarter but, of course, that number is still super low, and it also represents a whopping 26 percent decrease compared to the first quarter of 2011. Meanwhile, Brooklyn also saw a 6 percent rise (724 total) in lis pendens compared to last quarter but, again, that’s still a 27 percent decrease from Q1 2011. What we’re taking away: New York is still looking much better than many other parts of the country in terms of the foreclosure morass, and the slight quarterly increases in Brooklyn do not seem alarming. The report can be seen on an interactive map here.
Closing Bell: Following Up on BK Foreclosures
Last week we covered an installment by the Village Voice reporting on four foreclosure auctions in Brooklyn. Of the four properties, the Voice spoke with one owner, who has been struggling to hold onto her Bed Stuy home at 876 Greene Avenue. Today they reported on what happened at the auction. 876 Greene didn’t sell, but the owner told the Voice: “I’m still going to have to sell it and figure out where I’m going to live. So it’s not like it’s a happy ending and all that. But it’s better than being sold off last week.” Three properties, at 1172 Putnam Avenue, 619 Hancock Street, and 1658 52nd Street, sold anywhere from $300,000 to $450,000. The group of buyers was mostly made up of investors and one couple who wanted to buy a home under market value but was outbid. The Voice plans to continue covering NYC foreclosure proceedings weekly.
What Went Down at Last Week’s Foreclosure Auctions [Runnin' Scared]
The Faces Behind Foreclosure [Brownstoner]
From left to right: 876 Greene Avenue, 1172 Putnam, 508 Waverly, three properties that hit the auction block. Photos by Ben Sin via Village Voice.
Stalled Clinton Hill Development Has a New Owner
The Real Deal reports that 525 Clinton Avenue’s third time on the auction block was the charm, as the building now has a new, unidentified owner. The 30-unit development, which is supposedly 80 percent finished, had an outstanding lien of $25.5 million, which the buyer ponied up in full. There’s gossip that the new owner is a private equity firm, and now the big question is when work will resume on the project, which has been stalled for a few years. As the Real Deal notes, when the building was being marketed as a condo, prices were running between $650,000 and $950,000. We’ll see whether it’s turned into a rental when it finally comes back to life.
Mystery Buyer to Complete Ill-Fated Clinton Hill Condo? [TRD]
525 Clinton Avenue: The Song That Never Ends [Brownstoner]
Another Foreclosure Auction Set for 525 Clinton Avenue [Brownstoner]
Foreclosure Auction Scheduled for 525 Clinton Avenue [Brownstoner]
Stop Work Order at 525 Clinton Avenue [Brownstoner]
525 Clinton Avenue: Something Happening Here? [Brownstoner]
Will 525 Clinton Avenue Really Go Affordable? [Brownstoner]
The Ghosts of 525 Clinton [Brownstoner] GMAP
Broken Angel is Officially Broke
It’s been a long, sad road for the Broken Angel building, and now The Real Deal is reporting a foreclosure auction has been set for “Clinton Hill’s most famous private home.” PropertyShark listed a lien of $2,663,376 for the building itself and the lot next door. The owner, Arthur Wood, continues to live there. A fire destroyed parts of the building in 2006 and it’s been under foreclosure pressure before. Broken Angel went on the market for $4 million in 2009 but there were no offers. The auction is set for March 29th. More details from Property Shark after the jump.
Famed Angel House Could Finally Meet Its End [The Real Deal] (more…)
The Faces Behind Foreclosures
Today the Village Voice blog Runnin’ Scared began a series Who’s Getting Evicted Today, with today’s installment focusing on Brooklyn foreclosures planned for auction this afternoon. The Voice attempted to speak with the actual people facing foreclosure, who sometimes have no idea of their coming eviction. They spoke with the owner of 876 Greene Avenue, who was giving up on a long fight with a predatory lender. She said the home had been in her family for three generations. The other three properties, 1172 Putnam Avenue of Bed Stuy, 508 Waverly Avenue of Clinton Hill, and 619 Hancock Street in Bed Stuy, were abondoned. The Voice plans to attend the auction this afternoon and report back.
Who’s Getting Foreclosed on in Brooklyn Today? A Third Generation Homedweller [Runnin' Scared]
From left to right: 876 Greene Avenue, 1172 Putnam, 508 Waverly. Photos by Ben Sin via Village Voice.
Foreclosure Auctions Set for 2 Big North Brooklyn Lots
Two large lots that at various points were set to be developed in Williamsburg and Bushwick will go up for auction on March 1st, according to Property Shark. The first is the 95,275-square-foot lot taking up the entire block of South 8th between Kent and Wythe avenues, 36-54 South 8th Street (pictured). Developer Issac Hager paid $42.5 million for the site in 2008, and building permits were renewed here as recently as last April. The lien for that one is $29,854,019. The second lot is at 1209 Dekalb Avenue, a 44,950-square-foot lot between Bushwick and Evergreen avenues. The DOB approved plans there in 2007 for a five-story, 126-unit build. There’s a comparatively modest lien of $10,716,077 on it. GMAP
525 Clinton Avenue: The Song That Never Ends
Are people ever going to live inside 525 Clinton Avenue? The troubled Clinton Hill high-rise sat empty for years, and then a foreclosure auction was finally scheduled last September. At that point, the lien was $25 million. Then the auction was pushed back to December. Now, according to Property Shark, it’s scheduled again, for February 23rd. The lien has risen slightly, to $25,121,971. Assemblyman Hakeem Jeffries previously focused on 525 Clinton Avenue in an effort to turn the failed luxury developments into affordable housing, but what the future holds for this building is really anybody’s guess. Thoughts on why other developments have been snapped up recently and re-positioned as rentals, while this one sits on the sidelines?
Another Foreclosure Auction Set for 525 Clinton Avenue [Brownstoner]
525 Clinton Avenue [PropertyShark]
Foreclosure Auction Scheduled for 525 Clinton Avenue [Brownstoner]
Stop Work Order at 525 Clinton Avenue [Brownstoner]
525 Clinton Avenue: Something Happening Here? [Brownstoner]
Will 525 Clinton Avenue Really Go Affordable? [Brownstoner]
The Ghosts of 525 Clinton [Brownstoner] GMAP
Organizers Defend Occupation of ENY Foreclosure
Over the weekend the Post reported that the attention-grabbing Occupy Wall Street takeover of a vacant house in foreclosure in East New York was little more that a publicity stunt that hadn’t actually succeeded in providing housing to people in need of it, and yesterday the people behind the occupation issued a series of statements responding to the story’s claims in an effort to debunk some of them. OWS organizers say that Wise Ahadzi, the homeowner who abandoned the house a couple years ago after foreclosure proceedings began, hadn’t told them that he was intent on reclaiming his property, as the Post reported: “According to statements Mr. Ahadzi made to the New York Post yesterday, he is apparently now interested in reclaiming his home. Given that, Alfredo Carrasquillo and members of Occupy Wall Street will support Mr. Ahadzi’s efforts, so that neither his family or Alfredo’s is homeless, and so that the house at 702 Vermont does not sit vacant.” Meanwhile, Alfredo Carrasquillo, the community organizer who is supposed to be moving into the East New York house with his family, responded to the story’s allegations that it didn’t appear like he’d moved into the property and it was only being lived in by Occupy Wall Street protesters: “On December 6, I moved into a vacant, Bank of America-foreclosed property with the support of neighbors on Vermont St. because my family — victims of Michael Bloomberg’s housing policies and the big banks’ callous disregard for people — had been homeless for years. The support I received from the community was overwhelming, in part because they have also been victims of those same policies. …I invited members of Occupy Wall Street to inhabit the house with me, until it was safe for my family to move in, as a defense against the mayor’s policy of using the police department to defend property over people.”
Owner of OWS Foreclosure in ENY Wants His House Back [Brownstoner]
Photo by Brennan Cavanaugh
Owner of OWS Foreclosure in ENY Wants His House Back
Last month members of Occupy Wall Street took over a home in East New York, saying they were going to renovate the property, which was empty following a foreclosure, so a homeless family could live in it. According to the Post, though, the family that was supposed to move in has yet to fully do so—it’s unclear from the story if this is because the house has yet to be completely renovated or if there’s simply not enough space for the family—and the person who owns the house but moved out after foreclosure proceedings began in 2009 wants his property back from the occupiers. Wise Ahadzi, the homeowner, says he bought the property for $424,500 in 2007 and stopped being able to make mortgage payments a couple years later, after he’d lost his job and the house’s value had plummeted. Ahadzi claims the Occupy Wall Street organizers aren’t willing to entertain the notion of reinstating Ahadzi and his children in the house: “I’m trying to get my house back, and they’re trying to take it from me.” The article is hardly a nuanced portrait of whatever is actually going on at 702 Vermont Street, so it remains to be seen whether what it suggests is accurate: That occupying the East New York foreclosure was a PR stunt and it hasn’t resulted in anyone who actually needed housing getting a roof over their heads.
Single Dad Trying to Reclaim Home OWS Took Over [NY Post]
Occupiers Fixing Up a Foreclosure in East New York [Brownstoner]
Photo by Brennan Cavanaugh
Bank Must Pay for Repairs at Slope Building in Foreclosure
Back in May there was news about how a group of longtime tenants at 294 Fifth Avenue in Park Slope said they were living in “slum-like conditions” following a receiver being appointed to take care of the building. Now the Daily News reports that a judge has ordered the National Bank of New York City to pay the receiver to make repairs that aren’t covered by rent. The building went into foreclosure a couple years ago, after the landlord defaulted on a $1.85 million mortgage. Tenants say they’ve had to deal with things like the boiler not working for three weeks last winter and the front door lock being broken. Shira Galinsky, a senior Staff attorney at South Brooklyn Legal Services, said the ruling was important because it makes banks accountable “for bad lending.” The six tenants in the building who filed a motion against the lender are elderly and disabled.
Christine Quinn Touts Case Which Could Lead to Banks Being ‘Held Responsible for Bad Lending’ [NY Daily News]
‘Slumlike Conditions’ in Foreclosed Slope Building [Brownstoner]





Jun 12, 2013 | 09:09 AM