South Slope Officially Downsized
South South Slopers are celebrating their victory yesterday, as the City Council (above) voted unanimously to approve the downzoning of South Park Slope and Greenwood Heights. The big question marks now are what happens to the two Isaac Katan 12-story buildings on 15th and 16th streets and the Robert Scarano “Minerva” building. Any guesses? A…
South South Slopers are celebrating their victory yesterday, as the City Council (above) voted unanimously to approve the downzoning of South Park Slope and Greenwood Heights. The big question marks now are what happens to the two Isaac Katan 12-story buildings on 15th and 16th streets and the Robert Scarano “Minerva” building. Any guesses?
A New Era Has Begun [South South Slope]
Ok – Mr. I’ve lost 500K because of downzoning…
explain how. What did you pay for property and when. What’s the shitbox worth today as is according to you (please give us sq ft and condition )
and what is FAR after downzoning and what was it before.
And how are you figuring the 500K reduction?
The problem with all of this new development is that to pay for the high costs of construction, all of the housing has to be market rate condos. Zoning is a part of the problem, Iceberg, but the root of the problem is the lack of a free market for housing in NYC. The market is artificially inflated by the lack of inventory that rent stabilization creates. There is no equitable way to abolish rent stabilization this late in the game other than the phase-out that is happening now with high rent destabilization. Zoning bonuses for affordable housing are the only way to shoehorn subsidized housing into new developments without serious federal or state subsidies. Unfortunately, the only people who seem to get real subsidies are the Ratners of the world. I’ll bet I could build 10,000 units of affordable housing with $1.6 billion in subsidies.
sorry for all the typos.
to 10:27 pm thanks for supporting me. the last poster thinks you are me, the one who complained at my lost oppurtunity and shitty frame house. for the record, i have made over 600,000 on my purchase of my shitty frame house. i have also lost out on another 500,000 on profit due to downzoning. i have lived in the south slope over 5 years and believe or not i like it bettet then center slope. and for the record if you can get 4.2 million dollard for your house and chose to rent out an apartment for a 1000 dollars a month you either love working or are not to smart.
There are 70+ new housing units a block from my house that will not be affected by the down zoning. How is that anti development? There are 30 more planned that will be built within the next year or so. Thats 100 new residences just in one block. How much more housing will be necessary? Why do you want to buy a house in South Slope Brooklyn anyway? I would like to own a house in San Francisco but I can’t. If you had the insight to buy one of those shitty little wood frame houses even 5 years ago you could have sold it last year to a developer and made a great profit.As for affordable living, many of these homes rent apartments to people at very fair rates. Both of my tenants have saved enough money to buy their own places. I don’t need to charge so much because i have a low mortgage. Tear down my house and there goes an affordable apartment, replaced by 6 condos for $700,000. If you can afford to pay that you certainly don’t need anyone’s pity.
To to anonymous 10:42 with the question on what the zoning designation letters and numbers mean, you can go to the City Planning website for this rezoning to see descriptions of each of just the districts for SPS. No need to decipher the entirety of the city’s zoning map or text. The url is http://www.nyc.gov/html/dcp/html/southparkslope/index.shtml
Well said, Anonymous@09:08 PM!!
What’s up with the fact that bldgs that have ALREADY been built got stop work orders after this DCP zoning change was passed? This makes no sense at all. In case people in the south slope aren’t aware there’s a serious housing shortage in this city. and that’s making it hard for people to continue to live here. that means teachers, doctors, nurses, everybody who didn’t buy ages ago and every young person you see on the street is going to end up living where and for what cost exactly? But I digress. Just think developer’s who are operating safely and fairly under the previous and current DCP and DOB guidelines should stop being harrassed by residents in this community. Fair is fair.
The current popping of the real estate bubble will slow development waaaaay more than the downzoning.