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…

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…

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,…

Demand for Large Homes in NYC Reaches a Fever Pitch

The New York City property ladder has changed, mainly because New York has changed. The old story had America’s best and brightest move to Manhattan, meet a mate and move to Brooklyn and, with the arrival of children, exit for the suburbs. Today, however, that same family is choosing to stay, resulting in a shortage of the three-bedroom apartments they require.

Small Town (Make Room for thy Neighbors)

“Micro-apartments” is Bloomberg’s ingenious buzz-phrase heard around the world, and like much of this administration’s initiatives, it’s a response to market conditions—and it makes business sense. According to recently published census figures, more people are moving into New York City than are leaving—which reverses a…

Conversion Excursion

All developers understand the need to create inventory that meets today’s market demands. But when your challenge is to convert large apartments for occupants who share space, can you make accommodations that unlock untold amounts of dollars from a building? Sure you can, but only…

Tale of the Tape: Brooklyn vs. Manhattan (Condos vs. Rentals)

The How: We compared the rental prices and sale prices in eight neighborhoods. The Topline:  When it comes to Manhattan and Brooklyn rental prices, in the A-List neighborhood’s high-end buildings, there’s not a dramatic difference in price. However, when we look at condos in these…

Is Smaller Better?

Few issues have sparked as much speculation as Mayor Bloomberg’s announcement last week for a pilot project to develop residential micro-units measuring 275 to 300 square feet. Affordability is the primary driver here, especially for the demographic coming in—young folks who are looking for opportunity…

Topsy-Turvy Multi-Family Buildings

It used to be that the most lucrative exit strategy for a developer was to sell his or her apartments as condominiums. That notion is being flipped on its head – especially in Brooklyn these days. What started as a one-off sale in Williamsburg, Brooklyn of…