Early this year the news surfaced that the MTA needed to do major repairs on the catastrophic damage the 2012 superstorm Sandy wrought on the Canarsie Tubes that run beneath the East River. On Monday, they announced that they would be shutting down the tube completely for 18 months, with…
East Williamsburg: Between Hotspots, a Haven
Neighborhood Report: East Williamsburg
With neighbors that include the supernova that is North Williamsburg, reigning favorite Greenpoint and burgeoning Bushwick in Brooklyn and understated overachiever Ridgewood in Queens, it’s easy to make the assumption that, like south Brooklyn’s Gowanus, East Williamsburg is the luckier winner-by-proximity than flyover zone. Though, due to architecture and housing stock,…
421a – The Never-ending Wait & a Discussion with David Schwartz
Interview with David Schwartz of Slate Property Group about the state of new development and affordable housing opportunities in Brooklyn neighborhoods since the 421-a tax abatement program expired, given the program’s uncertain future. Despite talk of poor doors and impossible-to-win lotteries for too few spots, from a few lucky renters’…
Neighborhood Report: Bed Stuy
What You Need to Know about Bed Stuy Right Now DEVELOPMENT: Many areas in Bedford Stuyvesant are prime for development. The Gold Coast in the southwest corner of Bed Stuy is home to 800 residential buildings in Italianate, Queen Anne, Romanesque Revival and Renaissance Revival styles. The Landmarks Commission has proposed…
Slaying the Land Cost Dragon
DEVELOPMENT ON A GROUND LEASE By Dennis M. Sughrue Developers in New York now confront a stark, new reality. In established Manhattan and Brooklyn neighborhoods, for the first time in memory, land prices exceed construction costs. This calculus shapes the development landscape in profound ways. In this market, only luxury…
Bed Stuy on the Rise
Deep Pockets Are Finding Homes in this Historic Area Few neighborhoods have seen property values climb as quickly as they have in Bedford Stuyvesant, the brownstone Brooklyn neighborhood bordered by Prospect Heights, Williamsburg, Clinton Hill and Bushwick. Let’s take a closer look: 53 Hancock Street, a 2,916 square foot brownstone sold for…
Neighborhood Report: Red Hook
8 Things You Need to Know about Red Hook
A New Way to Broaden the Investor Base
How to Use General Solicitation and Advertising in Regulation D Equity Offerings The founder of Andrew Abramowitz, PLLC, Andrew Abramowitz specializing in securities offerings, startup matters, mergers and acquisitions, securities law compliance and other general corporate law matters. More information is available at www.aalegalnyc.com….
Developer Round-Up
As the market heats up heading into 2014, the questions on everyone’s minds are “can the market sustain some of the high land and building prices we are witnessing across all asset classes?” and “where are the best neighborhoods to invest?”. So we went to the field, and asked some…
Red Hook on the Rise
O’Connell Organization Looks to Establish Legacy in Brooklyn Over the past 45 years, the O’Connell Organization–started by former NYPD detective Greg O’Connell Sr., and now including his sons, Greg Jr. and Michael who has rehabilitated dozens of residential and commercial properties in the Red Hook, Columbia Street Waterfront, Carroll Gardens…