Following a 16-month ban from selling condos after allegedly filing false paperwork for a condominium project in Harlem, developer Shiraz Sanjana, of the Sanjana real estate family, has purchased a corner property at 695-705 6th Avenue in Greenwood Heights for $9,900,000 from Yeshiva Machzikei Hadas, which currently owns a one-story school on the lot.
Sanjana plans to develop a multistory, 34,8000-square-foot condo on the site, according to the Daily News (who’d have you believe the address, on 21st Street, one block from Green Wood Cemetery, is still South Slope).
Photo by Nicholas Strini for PropertyShark
Downtown Brooklyn will soon get a thoroughly modern Macy’s. The department store and commercial real estate firm Tishman Speyer announced a $270,000,000 deal Wednesday that will let Macy’s downsize, remodel and take cash out of its antiquated real estate holdings downtown.
Thankfully, the historic building at 422 Fulton Street will not be sporting a giant condo tower on its roof anytime soon. And Macy’s will continue to own and operate the first four floors and the lower level as a store.
Brooklyn’s tallest tower has some serious competition in the works. Ava DoBro topped out earlier this year at 595 feet, but a tower nearly twice its size may be brewing for a lot just a block from the residential high rise, Crain’s reports.
Developer Michael Stern — he of the 1,400-foot-tall (and we mean tall) tower rising at 111 West 57th Street on Manhattan’s Billionaires’ Row — just made a $90,000,000 deal with developer pal Joe Chetrit of Chetrit Group to purchase the former Dime Savings Bank of New York at 9 Dekalb Avenue. The building is lovely. But no one thinks that Stern and Chetrit are in it for the classical architecture.
Buying the building comes with 300,000 square feet of air rights which would enable the duo to build a 600,000 square foot tower on an adjacent site they co-own at 340 Flatbush Avenue Extension, according to Crain’s. The building could be the city’s first to rise taller than 1,000 feet outside of Manhattan.
Brownstoner took the above photo just this morning, and added CityRealty‘s rendering of the possible new construction to show how very towering the tower may be.
Brick veneer and window glass are marching up the sides of the Oosten, the international luxury development surrounded on three sides by Hasidic apartment buildings on the waterfront in South Williamsburg. Designed by rising Dutch superstar Piet Boon, developed by Beijing-based Xinyuan Real Estate Co.’s U.S. subsidiary XIN Development, and marketed to overseas Chinese, the building at 429 Kent Avenue occupies the entire block, with a total of 216 units, including 15 townhouses.
Since launching sales 10 months ago, in September, exactly half of the units — 108 — are now in contract or closed, a spokesman for the Oosten let us know when we inquired. Four are townhouses.
The in-land units — the ones with no water views — are furthest along, construction wise, and cluster along South 8th Street and Wythe Avenue. Their views are of neighboring massive brick apartments with the tell-tale stepped balconies for celebrating the harvest festival of Sukkot characteristic of this area.
A Hasidic development under construction next door to The Oosten last year
Most likely setting a record for the neighborhood, this detached frame house at 154 Lenox Road recently sold for $3,550,000. The sale hit public records earlier this month. The two-and-half-story house is large for Brooklyn at a hair over 3,000 square feet. And it has a garage in the back.
But we’re willing to bet it’s not the spacious wraparound front porch or whatever period details remain inside that helped this seller get such a high price.
A group of seven 19th century buildings on Atlantic Avenue close to the water, including the home of the last of the longshoreman’s bars, Montero’s, is for sale for $56,000,000. However, despite a wave of development on this gritty stretch by the BQE on-ramp, the chances of the row being razed and turned into condos — or even selling at all, at this price — are slim, because they are all landmarked.
Just across the street is the former Long Island College Hospital campus, where two 40-story condo towers are brewing, and a block away near the water Brooklyn Bridge Park is preparing for two more towers on Pier 6.
If you’ve lived in Brooklyn for a while and spent enough time in Park Slope and Cobble Hill, you probably noticed the two very different places called the Community Bookstore. The one on 7th Avenue in Park Slope is orderly and cozy, with warm lighting and an impeccably curated selection of books.
Then there’s the one at 212 Court Street in Cobble Hill, which looks as if the books were pushed in with a bulldozer. You never know what you’ll find in this other Community Bookstore, though the owner, John Scioli, might be able to lead you through the precarious piles to find your buried treasure.
For years, this charming eyesore has been a staple of Cobble Hill life, but if you didnt know Scioli’s story, you couldn’t help but wonder how long it would be before Scioli was forced to close — if not by the health department, then certainly by a rent hike.
According to today’s story in the New York Times, your prediction would have been half right. After 30 years, the Community Bookstore will soon be closing, because Scioli sold the brownstone for $5,500,000.
LED skyscraper: It sounds like an electronica group from the ’00s. But it’s actually a shorthand description of a 28-story tower with an unusual nighttime lighting scheme planned for a Downtown Brooklyn development site at 16 Nevins Street.
As we told you last year, Williamsburg-based developer Bushburg Properties was planning to put up 149 rentals here, along with some ground-level stores. Now subsequent investor-owners are flipping the property to Adam America Real Estate and Slate Property Group, who plan condos instead of rentals, according to a story in The Real Deal. They’re in contract for more than $50,000,000.
The buildings on the site were demolished in April, as we reported at the time, and plans for the skyscraper were approved the same month. However, a full permit has not yet been issued, slightly increasing the possibility the new owners might commission a new design. The applicant of record on the new-building application is the Stephen Jacobs Group, a large and award winning firm best known in Brooklyn for designing The Edge on the Williamsburg waterfront.
Photo at left by Gage Skidmore for Wikipedia Commons; photo at right by Kate Leonova for PropertyShark
Golden Globe-winning actress Michelle Williams is the buyer of Prospect Park South’s most prominent house — a move we would not have predicted for such a famous actress. The gigantic Colonial Revival mansion at 1440 Albemarle Road has been on the market for about a year, most recently asking $2,450,000.
It’s a surprising choice of neighborhoods for a celebrity, but clearly Williams loves Brooklyn and has an independent streak when it comes to real estate. Brooklyn was largely unexplored territory for celebrities when Williams moved to Boerum Hill with then-partner Heath Ledger a decade ago.
She helped draw other boldface names to the borough, and recently sold that row house for $8,800,000, as we reported at the time.
Developers are moving to transform a lowly Fort Greene lot. Just as their first Brooklyn building begins to rise at 250 Ashland Place, the father-son duo running Gotham Organization snapped up a coveted parking lot a mere two blocks away. For $5,500,000.
Located at 130 St Felix Street, the lot is steps from Atlantic Terminal, wedged between a BAM theater and the iconic Williamsburgh Savings Bank Tower. Naturally, we’re predicting condos.
The seller was the sponsor of the condo building next door at 1 Hanson Place, Canyon Johnson Urban Funds. The sponsor and the condo association of 1 Hanson Place negotiated an easement on the lot, used for parking, more than a year ago, according to public records.
A building with 75,114 square feet is permitted, according to PropertyShark. However, there may be trouble in developer paradise.