Development Watch: No Changes at 500 Sterling
Last we checked, in February, nothing was doing at this site. Well, that still seems to be the story at 500 Sterling. Back in 2004, developers filed with the DOB for a five-story, 38-unit building totaling 62,190 square feet. Their last application was filed in 2006 to erect a construction fence. Since then… silence. Not…
Last we checked, in February, nothing was doing at this site. Well, that still seems to be the story at 500 Sterling. Back in 2004, developers filed with the DOB for a five-story, 38-unit building totaling 62,190 square feet. Their last application was filed in 2006 to erect a construction fence. Since then… silence. Not a violation or complaint to explain it. Anybody know the skinny?
Development Watch: 500 Sterling [Brownstoner] GMAP P*Shark DOB
RE: Not a violation or complaint to explain it. Anybody know the skinny?
Why, so that you can give it to your buddies at Corcoran? Right.
Crown Heights North Real Estate & Community News from Winter 2007 and Spring 2008 says the owner is Alex Ezagui. (http://www.corcoran.com/agents/press_view.aspx?region=NYC&userid=GDT&pub_id=402656&article=N)
The Crown Heights North Real Estate & Community News Fall 2008 (I got a copy at the Crown Heights House Tour) says the following:
“Approved Building Department plans show a building of 55 feet with five stories and 38 apartments. The owner has stated that he intends to build condominium apartments but has not returned recent phone calls. There has been no activity on the site for many months.”
The Crown Heights North Real Estate & Community News is published by Greg Todd of Corcoran (nice guy with glasses, white hair who lives near Brower Park). He must have called the owner Alex Ezagui, but gotten radio silence. If Corcoran doesn’t know why this project is stalled, I imagine no one does.
I’m gonna go out on a limb and say it has something to do with financing. Still, that’s a nice fence.
More Ailanthus coming this way.