Development Watch: Prepping for Demo at Avalon Myrtle
The Catsimatidis/Red Apple site wasn’t the only one on Myrtle to get a construction fence last week—Avalon Bay started to get ready to demo the group of two- and three-story buildings between Flatbush and Prince Streets by erecting the slightly more stylish blue plywood fence. (Red Apple had gone au naturel.) What’s to come? 42…
The Catsimatidis/Red Apple site wasn’t the only one on Myrtle to get a construction fence last week—Avalon Bay started to get ready to demo the group of two- and three-story buildings between Flatbush and Prince Streets by erecting the slightly more stylish blue plywood fence. (Red Apple had gone au naturel.) What’s to come? 42 stories housing 650 rentals. Target date: 2009.
So That’s What Avalon Myrtle Will Look Like! [Brownstoner] GMAP
Development Watch: BFC and Avalon Straddle Myrtle [Brownstoner]
i definitely feel like these guys are too late to this particular real estate party. this party is ending quickly.
In today’s “Real Estate Round-Up,” the Eagle notes that The Real Deal reports that “Developers filed 31 percent fewer new condominium offering plans citywide, and 24 percent fewer in Brooklyn, during the first three quarters of this year versus three quarters of last year.”
Continuing, “Filings did increase between the second and third quarter in Brooklyn, Manhattan and the Bronx, which The Real Deal linked to the passage of the new 421-a legislation.
Elaborating (all numbers are first three quarters of 2007 and then all of 2006):
Brooklyn — 5,508 and 10,310
Williamsburg — 819 and 1,674
Downtown — 257 and 574
“Crown Heights (with 403 units this year), Greenwood Heights (22) and Greenpoint (335) were the only neighborhoods where filings this year have already topped those in 2005 and 2006….”
The Why
Some day this rain is going to end….
“The What” take it easy your scaring the kids
12:23: These are not condos. These are rentals.
Still stop building!!!!!!!
The What
Someday this war is gonna end….
12:23: These are not condos. These are rentals.
Still stop building!!!!!!!
The What
Someday this war is gonna end….
12:23: These are not condos. These are rentals.
great news.
LM aka Doctoroff: If there is such a shortage why is it so hard to find tenants for Metrotech? There is always empty space there — and FDNY takes up a lot already (our tax dollars bailing out Ratner per usual).
I believe we need more office buildings downtown. Companies are moving to NJ in part because there is a scarcity of large floor, class A space in Brooklyn.