Sheepshead Bay

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A huge waterfront site in Sheepshead Bay is on the market for $2,300,000. However, there’s a catch: Not only was Sheepshead Bay in general hard hit during Sandy, but 68 percent, or 53,000 square feet, of this 78,000 square foot property at 2433 Knapp Street sits “below the median high water line,” according to TerraCRG, which is marketing the site. That leaves approximately 25,000 square feet for residential development.

The empty site comes with proposed plans (they have not yet been approved, as far as we can tell from DOB records), including the above rendering, for a three-story building with 18 units. Not only would there be 18 outdoor parking spaces but the property would also come with 36 boat slips!

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The struggling Sheepshead Bay condo complex known as The Breakers has just started renting apartments, after an undisclosed buyer bought up its 49 empty units earlier this year. The wavy-looking, Art Deco-style buildings on the waterfront have 13 one-, two- and three-bedroom rentals being marketed by Aptsandlofts.com. One-bedrooms start at $1,608 a month, two-bedroom units at $2,567, and three-bedrooms at $3,117 a month.

Each apartment in the private gated community features granite countertops, Jacuzzi bathtubs, central air and washer/dryers. Some units also have balconies or private roof decks. Amenities include an outdoor pool, gym, 43 underground parking spaces, bike storage, and a private fishing pier with outdoor seating.

Although the 75-unit development was finished in 2009, developer Jacob Pinson defaulted on a construction loan and filed for bankruptcy. Madison Realty Capital acquired it for an estimated $19,000,000 in December 2012, and the 49 unsold condos changed hands again in January for $24,500,000, The Real Deal reported at the time.

3144 Emmons Avenue [Aptsandlofts.com] GMAP

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The second phase of a rental development at 2750 East 12th Street and 1125 Banner Avenue, on the border of Sheepshead Bay and Brighton Beach, just launched. The new development has 45 studio, one-, two-, and three-bedroom units. Monthly rents range from $1,350 to $4,200. The first phase, at 2750 East 12th Street, launched in January. Back then, the leasing agent told us that “South Brooklyn is exploding, too… We are achieving an average of over $30 per square foot.” She tells us that they have already received a bunch of offers in the first week for the second phase, at 1125 Banner Avenue. The two buildings are connected by a sun deck on the second floor. The buildings share the sun deck, a gym, parking lot and resident super.
Rentals Moving Quickly in Southern Brooklyn Too [Brownstoner] GMAP

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This Sheepshead Bay Victorian needs a little redecorating to take it out of grandma land, but underneath the ruffles and frills we spy the bones of a good house. There is a sprawling porch, original moldings, the Victorian staircase, two stained glass windows and a clawfoot tub in the bathroom, and a fairly recently renovated kitchen. It’s not too far from the beach, either. Does $1,200,000 seem reasonable for the location and size?
2629 East 24th Street [Fillmore] GMAP P*Shark

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It’s no surprise that the market is moving at lightning speed in brownstone Brooklyn. But a Corcoran broker filled us in on a new rental development on the border of Brighton Beach and Sheepshead Bay at 2750 East 12th Street that is pulling in high numbers too. Since launching this past summer the development reached the 75 percent leased mark. Prices on the available one, two, and three bedrooms range from $1,750 to $4,250 a month. 2750 East 12th Street has 56 units over 7 stories, and it’s attached to 1125 Banner Avenue, which is a 45 unit building over 12 stories. Leasing at 1125 Banner will launch this spring. The two buildings are connected by a sun deck on the second floor — the buildings share the sundeck, a gym, parking lot and resident super. As the leasing agent says: “South Brooklyn is exploding, too… We are achieving an average of over $30 per square foot.” You can see floorplans for 2750 East 12th Street at the building website. This post has been updated to reflect that 2750 East 12th Street and 1125 Banner will launch leasing at different times. GMAP

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The most high-profile of the local Brooklyn primaries last night was too close to call, the Brooklyn Paper reported. In the fight for Williamsburg’s Democratic district leader, Chris Olechowski was leading by 200 votes over one-term incumbent Lincoln Restler (pictured above) at midnight last night. Olechowski was supposedly hand-picked by embattled Assemblyman and former party boss Vito Lopez to take out Restler, seen as a reformer and longtime Lopez critic. Insiders claim Lopez got the Orthodox Jewish community to come out in force to vote for Olechowski, who has said he opposes gentrification. Restler has made a name for himself fighting for parks, community gardens and centers, and access to fresh food for underserved communities, among other things. Restler has been endorsed by Brooklyn Borough President Marty Markowitz, State Senator Daniel Squadron (D–Brooklyn Heights), and Representative Nydia Velazquez (D–Williamsburg). In other races, Walter T. Mosley won the Democratic primary for state Assembly in the 57th Assembly District, making it likely that he would replace Assemblyman Hakeem Jeffries in that role. Assemblyman Steve Cymbrowitz won the Democratic primary in Sheepshead Bay in a close race against challenger Ben Akselrod, according to the Brooklyn Daily. For more information on all the races, check out the Board of Elections Website.
Photo from Lincoln Restler

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1. GRAVESEND $2,728,000
400 Avenue U, #PH6E GMAP P*Shark
There wasn’t an exterior photo for this building on Property Shark and there also isn’t a listing on Streeteasy, but this sale is listed on ACRIS as a “single residential condo unit.” Entered into contract on 12/12/11; closed on 3/07/12; deed recorded on 3/23/2012.

2. PARK SLOPE $2,200,000
117 Lincoln Place GMAP P*Shark
As a HOTD, we thought this home was “in such nice shape that the asking price of $2,200,000 doesn’t seem aggressive given the prime location.” The only drawback noted was that the house is only 17 feet wide, but that obviously didn’t deter this buyer. Entered into contract on 11/14/11; closed on 2/09/12; deed recorded on 3/22/2012.

3. SHEEPSHEAD BAY $2,200,000
1930 East 14th Street GMAP P*Shark
A one/two family house with either a garage or vacant land. Sold at $684 per square foot. Entered into contract on 12/10/11; closed on 3/09/12; deed recorded on 3/21/2012.

4. DUMBO $1,832,850
192 Water Street, #2E GMAP P*Shark
One of the first units that’s closed at the new Dumbo condo building. This particular unit is a three bed/two-and-a-half bath. It’s ask was $1,795,000. Entered into contract on 1/30/12; closed on 3/02/12; deed recorded on 3/19/2012.

5. FORT GREENE $1,775,000
185 Lafayette Avenue GMAP P*Shark
No listing for this two-family home. Sold at $732 per square foot. Entered into contract on 10/31/11; closed on 3/05/12; deed recorded on 3/19/2012.

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1. SHEEPSHEAD BAY $3,500,000
400 Avenue U, #PH5B GMAP P*Shark
We cannot find a Streeteasy listing for this development, not to mention a picture. But, ACRIS lists this as the sale of a condo unit. Entered into contract on 4/8/11; closed on 12/20/11; deed recorded on 2/8/2012.

2. BROOKLYN HEIGHTS $3,327,613.28
9 College Place, #4D GMAP P*Shark
Sales at the Love Lane Mews have really picked up steam. Streeteasy shows four units sold and six in contract. This particular unit had its listing pulled. Entered into contract on 12/2/11; closed on 1/17/12; deed recorded on 2/7/2012.

3. SHEEPSHEAD BAY $2,650,000
400 Avenue U, #402 GMAP P*Shark
Another big condo sale at the mysterious condo building 400 Avenue U. Entered into contract on 10/7/11; closed on 1/17/12; deed recorded on 2/7/2012.

4. CARROLL GARDENS $2,010,000
534 Clinton Street GMAP P*Shark
The listing says: “Completely renovated three story single family townhouse in the heart of Carroll Gardens provides the ideal combination of a modern aesthetic with traditional neighborhood architecture and charm.” Ask: $2.2 million. Entered into contract on 11/16/11; closed on 1/12/12; deed recorded on 2/6/2012.

5. GOWANUS $1,320,000
158 14th Street Street GMAP P*Shark
A cute, circa-1864, four-story home. Here’s the listing. It was asking $1,495,000 then dropped to $1,295,000 before entering contract. Entered into contract on 11/15/11; closed on 1/11/12; deed recorded on 2/6/2012.

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The blog Sheepshead Bites is organizing an event called A Taste of Sheepshead Bay that’s taking place this Thursday. The event, which costs $25 in advance and $35 at the door, will feature samples from 20 neighborhood restaurants. According to the organizers, the point is “to put Sheepshead Bay back on the map as one of the city’s most diverse and delicious culinary hotspots.” A list of participating restaurants is here; it’s taking place at Baron DeKalb Knights of Columbus at 3000 Emmons Avenue.
A Taste of Sheepshead Bay