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…

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.

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…

Transportation Drives Development

As real estate investors and developers, one question we should always be circulating is, “How can we create more desirable inventory?” While the city took right action in rezoning Greenpoint to accommodate the residential needs of a growing community, it hasn’t taken off with the…

No End in Sight for Brooklyn

SEASONED investors have been developing in Brooklyn for years, but with development sites in top neighborhoods like Williamsburg and Brooklyn Heights reaching (and exceeding) $200 per buildable square foot, double the average for the rest of Brooklyn, market watchers wonder, how high can it get?…

What Landmarking and My Daughter’s Sock Monkey Have in Common

On January 24, 2012, a City Council subcommittee voted to approve the landmarking of several blocks of buildings in Downtown Brooklyn. On February 1, City Council, as usual, did what its subcommittees recommended. But I’m really of two minds on this issue. REBNY is certainly opposed, and…

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…