Karma Is a Bitch: 185 Ocean Developer Sucking Wind
One of the galling chapters in the now-waning development boom of this decade was when a developer paid 33% over asking price for the turn-of-the-century brick house (above left) at 185 Ocean Avenue and proceeded to waste little time in tearing it down in order to put up an eight-story apartment building. (Dollar signs in…
One of the galling chapters in the now-waning development boom of this decade was when a developer paid 33% over asking price for the turn-of-the-century brick house (above left) at 185 Ocean Avenue and proceeded to waste little time in tearing it down in order to put up an eight-story apartment building. (Dollar signs in their eyes, the greedy neighbors tried to cash in but were too late to the party.) After paying $1,200,000 for a 30-by-150-foot property with a beautiful house on it, the developer now is trying to get $2,500,000 for the same piece of land with a big hole in the ground (above right). Where do we sign up! While the developer may lose some money on this deal, the real losers are the community and appreciators of Brooklyn’s architectural history.
185 Ocean Avenue [Corcoran] GMAP
PLG House Razed, 8-Story Building Planned [Brownstoner]
Ocean’s 13: Landmarking Against a Ticking Time Bomb [Brownstoner]
PLG Shocker! 185 Ocean Closes 33% Above Ask [Brownstoner]
Brenda:
Since when is it greedy to give the people want they want and get a profit for doing so? Is the grocer greedy because he wants to sell you food?
Were the developers who built the 30+ other apartment buildings on this area greedy? What makes this guy so special? Are you really trying to tell us that building multifamily housing, in and of itself, is greedy?
That is crazy talk.
Hey What how do you like that?
“Actually, this is turning out to be one of the highest traffic weeks on record…”. We think Mr B is a winner and you ought to learn a thing or two from him. We’ve agreed with you plenty of times but common dude get a clue.
“Slowing traffic”? Do you really think before you type? Why are you so obsessed with this blog if it is so bad? Remember you were actually banned! Can’t help coming back right?
Merde! We are just sick of your incessant moronic comments…
Benson…it’s not friday, yet. You and I usually have a design blow out on fridays. Let’s leave this for tomorrow, when I have more time.
Great post Benson. Let’s not forget the social utility. The guy wasn’t risking his money on some kind of dubious financial instruments. He was going to make a profit by bringing more housing to the most crowded county in the United States.
I am reminded of the fable about the puppy with a bone in his mouth, who looks down at his reflection from a bridge, sees another puppy with another bone, and tries to grab that one, too. Moral: “Greedy, greedy, makes a hungry puppy.”
Maybe we need a new Schadenfreude blog to track the smoking ruins of the crap-development boomstakes: “GreedyPuppies.com”?
PS I am half-German and therefore allowed to throw around “Schadenfreude”…excuse me, I’ve got Weltschmertz on my other line…
Brownstoner;
I would like to know what the point is in posting your “schadenfreude” about this developer’s misfortunes. What did he do wrong, that he deserves this treatment? As far as we know, he put up his own money to undertake this project, and did everything according to the law. Other than feeding red meat to the crowd to keep the clicks up (I actually agree with The What on that point) I wonder what contribution you are making here. I find it absurd to laugh at the misfortune of someone who made a bet on the development of the city you claim to support.
If you are pissed off about the fact that the previous house was torn down, I suggest that you take a look in the mirror. If you and others believed that this house should have been preserved, then it was your responsibility, as a leading voice in the preservation community, to take the case to the LPC.
If you want to preserve the quality of your blog, I suggest that you don’t aim for applause from the cheap seats.
Folks, this is right across the street from Prospect Park in an area that has been mostly multifamily for nearly a century. This house is one a few on a street that consists almost entirely of medium-density multifamily housing. It is right by an express subway station. Had the depression never hit, this house would have been demolished a long time ago.
The only thing that is outrageous here is the FAR is 3.44. There isn’t a single apartment building near this site constructed to such a low density. It is incredibly unfair that once again we have people trying to help the few at the expense of the many. This could be the spot of a great apartment building that could make the lives of dozens of families better than they otherwise would be.
More extremist, reactionary nonsense on this site.
watch this space – ailanthus soon to come
Unfortunately, we’re probably going to see alot of empty lots in NYC for a couple of years, while developers scramble to sell off their bad investments or try to secure financing that’s not so readily available.