The New York City Planning Commission is looking into developing a 2.4 million-square-foot urban living complex close to the East New York, Brooklyn waterfront. The plan was conceived by architect PAU and developer Innovative Urban Living.
The project proposal includes 13 new buildings ranging in height from 2 stories to 17. The area encompasses 5 lots together along Flatlands, Pennsylvania, and Louisiana Avenues. Due to the location zoning will need to be changed so that a unified, mixed-use development of this size will be compliant with Brooklyn and city regulations.
The residential component of the development includes 2,118 apartments totaling 1.98 million square feet. A majority will be affordable housing so that the project complies with New York’s Mandatory Inclusionary Housing (MIH) program. Some of the 1,825 affordable residences will also be set aside for senior residents.
The second-largest chunk of the development will be parking facilities measuring about 170,000 square feet, or about 1,100 total parking spaces. Shopping makes up about 82,000 square feet, including a new grocery store. Other amenities will include a daycare center, performing arts center, elementary school, a trade school, and 81,000 square feet of outdoor recreational space. There will also be a shuttle service for residents which will take people to and from the L train on East 105th Street and the 3 train at Pennsylvania Avenue.
A public meeting to discuss the project is scheduled for Tuesday, March 3, 2020, at the Christian Cultural Center at 12020 Flatlands Avenue, Brooklyn. If the project wins approval construction will begin soon and is expected to last about ten years until completion in 2031.
Over the past several years there is a trend in various New York City neighborhoods that has had the eye of many developers and those who appreciate bringing back New York homes to their original glory. They are referred to as “townhouse flippers” and they are gut-renovating townhouses across the city to single-family dwellings. One real estate broker, who has sold many of these types of homes and has worked with developers to plan their renovations, is Gregory Williamson, of The Williamson Team at Douglas Elliman Real Estate. Williamson is here to discuss this process and trend:
New York City Townhouse, typical of those being renovated by Greg Williamson
Gowanus Lounge: Can you explain to us exactly what ‘townhouse flipping’ means and what you are doing?
Gregory Williamson: First, thank you for having me. I’d be happy to explain this type of development. Throughout New York City, particularly in Manhattan and Brooklyn, there are many multifamily townhouses and townhouses that need a lot of work. Due to the high demand over the past several years for luxury townhome living, developers are purchasing these properties and working with experienced brokers to design them and sell them as high-end single-family assets.
GL: Can you tell us about the process?
Gregory Williamson: Sure. Generally, the developer identifies the asset, goes into contract to purchase the property and then approaches a broker to work in partnership to design the home and make sure, once it is completed and staged, that it is priced correctly for the market. This is a risky business as the margins are small, especially since the real estate market has gotten weaker, but if you can find the right property and design and price it well, it can be a home run.
GL: Can you give us an example of a project you have been involved with recently?
Gregory Williamson: Yes. On the Upper West Side, I was involved with 55 West 90th Street, 58 West 75th Street, and 113 West 95th Street. All three buildings were purchased by a developer and then we worked with the architect, developer, and designer to plan them as single-family residences. While the absolute dollars were on the high side, due to such an extraordinary amount of space, the prices per square foot were very competitive, especially when compared to what is being offered in the luxury condo and new development market. These renovations, when done correctly and tastefully, not only provide an enormous amount of living space that is quite rare in New York City, but they also bring authentic and charming homes back to New York. It is a great opportunity for an end-user who needs the room and terrific business for the right developer.
GL: What has inspired you to get involved with this kind of work?
Gregory Williamson: Well, for one thing, I work with developers across New York City so this is right in my wheelhouse. If you dig a bit deeper I guess, in large part, having grown up in Brooklyn Heights, which is filled with gorgeous townhouses and brownstones, this type of work really appeals to me because I appreciate the charm and magic of an authentic and beautifully refurbished townhouse. They are no doubt very special pieces of real estate.
Renovated townhouses offer maximal living space and luxurious home design, Greg Williamson says
GL: What background and experience do you bring to this kind of work?
Gregory Williamson: I was born and bred in New York City so I know the city like the back of my hand. I’ve seen all kinds of neighborhoods develop and evolve over the years. Plus, real estate is in my blood. My mother, Madeline, was a successful and longtime broker at Douglas Elliman Real Estate. Lastly, I understand what it means to have money in deals, and I can appreciate the skin that a developer has in the game.
Understanding it from both sides, the brokerage and the development side, I think is also very valuable for my clients and puts a level of trust in the relationship that is hard to find.
GL: This has been really helpful, Gregory. Where can our readers follow up with you if they have any questions?
Good news for the housing market in Brooklyn and Manhattan: Fairstead, a real estate firm focused on preserving New York City’s quality affordable housing market, has recently announced a subsidized housing project which includes nine properties (49 buildings) in these two boroughs.
Fairstead is preserving and growing affordable housing in Brooklyn and Manhattan
The properties had originally
been set to become market-rate housing. To maintain the buildings’ affordable
housing status, Fairstead partnered with the neighborhoods’ NYC Council
Members, the Department of Housing Preservation and Development (HPD), and the
Department of Housing and Urban Development (HUD) to ensure the safety and
suitability of the apartments therein. The agreement gives all 905 units the
guarantee of affordability until 2060, at least.
Fairstead is an
industry leader in social responsibility and community building. The company invests,
develops, owns, and operates affordable, mixed-income, and market-rate housing.
Fairstead’s purpose-driven, pioneering strategies have led the firm to acquire,
develop or preserve nearly 15,000 units since its founding.
Will Blodgett,
co-founder and partner at Fairstead, said:
“Affordable
housing continues to be a scarce resource in this country, especially
in New York. Public-private partnerships are key to creating and
maintaining this affordability and Fairstead is proud to work with city council
members and agencies alike who recognize the importance of preserving these
affordable units and Fairstead’s ability to bring about positive change. We are
incredibly proud of the entire team, for without these partnerships, none of
this would have been possible. We thank everyone involved and look forward to
keeping these units as deeply affordable for at least the next 40 years.”
The assets set for
renovation and preservation are:
Sunset Park Rehab (3 Buildings, 28 units, Sunset Park, Brooklyn)
Sixth Avenue Rehab I (2 Buildings, 45 units, Sunset Park, Brooklyn)
Sunset Park NSA Group II (13 Buildings, 148 units, Sunset Park, Brooklyn)
Sunset Park NSA Group I (24 Buildings, 187 units, Sunset Park, Brooklyn)
414 West 48th Street (1 Building, 54 units, Midtown West, Manhattan)
523 West 53rd Street (1 Building, 41 units, Midtown West, Manhattan)
Plaza Apartments (2 Buildings, 76 units, Crown/Prospect Heights, Brooklyn)
St. Nicholas Manor Apartments (1 Building, 112 units, Harlem, Manhattan)
Brooklyn landlord Mario Salerno posted the following notice on all 18 of his residential apartment buildings:
“Due to the recent pandemic of coronavirus COVID-19 affecting all of us, please note I am waiving rent for the month of April 2020. Stay safe, help your neighbors & wash your hands!!!”
New York City has been one of the worst-hit hotspots of the coronavirus pandemic on earth. As a result, with social distancing required to save lives, many businesses have been forced to close, the result of which is unprecedented job loss, leaving people with no source of income.
This sudden and severe economic collapse has left many people panicked not only about staying safe from the deadly virus, but also about how they are going to pay their bills. And for many people in New York, their rent is one of their largest expenses.
A few surveys conducted recently estimated that for at least 40 percent of renters, in the city, April’s rent would need to go unpaid. According to landlords, such a loss of income can have a devastating trickle-down effect, with no way for them to pay their own bills such as water, sewer and tax payments on their buildings.
Yet, Mr. Salerno said he is more interested in relieving the stress his renters are under.
“My concern is everyone’s health,” said Mr. Salerno, 59. “I told them just to look out for your neighbor and make sure that everyone has food on their table.”
In a 12-page decision, Manhattan Supreme Court Judge Arthur Engoron sided with a disabled Brooklyn man over his renting his house through the popular rental app Airbnb.
New York City – appartment houses with fire escapes. Courtesy Norbert Nagel
In a fun-to-read ruling Judge Engoron ordered the City of New York to pay back Stanley “Skip” Karol a $4,365 fine and any other expenses or payments incurred during his dispute with the Department of Buildings. The trouble began back in July 2018 with an anonymous phone call.
About a week after Karol openly testified at a hearing opposing new legislation that would force Airbnb to supply its data to the city, officers from the Office of Special Enforcement came to Karol’s door, explaining to him they received an anonymous complaint that he leases out his home for illegal short-term rentals.
The judge found that the city “missed the point” when it claimed that a Building Code provision “does not ever permit” rental of a full unit in a two-story residence for less than one month.
“The relevant question is not whether the provision permits anything,” wrote the self-proclaimed activist judge. “The relevant question is whether it prohibits anything. By its plain meaning, it does not. If you define an elephant as a large mammal with gray skin, four legs, and a trunk a giraffe — [it] is not illegal. It is just not an elephant.”
Karol has owned his home since 1963. According to court papers he has a disability that prevents him from working, so he rents space in his home to help him pay his bills.
“Skip Karol is not responsible for causing, or for alleviating, the city’s housing shortage,” the judge wrote. “So, in sum, I say, ‘Leave the poor guy alone.’”
A city Law Department spokesperson said that the judge’s decision “misinterprets the law and we are confident it will be overturned on appeal.”
Karol has another suit pending in Manhattan Federal court against the city alleging that he was singled out after he spoke out against the city in favor of Airbnb.
Tombstone of Lady Deborah Moody. Photo courtesy Jim.henderson
Brooklyn’s history is full of surprises. Did you know that what we call Gravesend in the southern part of Brooklyn is one of oldest planned communities established in North America?
Founded in 1643 by Lady Deborah Moody, Gravesend was created on land granted her by the Dutch colonizer and director-general of New Amsterdam, William Kieft. (Perhaps it is proper to mention the Kieft came into possession of this land through multiple genocides of the native people who had lived on the land for hundreds, if not thousands of years before his arrival.)
Lady Deborah was a wealthy widow of an English baronet. As an Anabaptist living in a Puritan-led colony, which practiced infant baptism, she ran away from Massachusetts due to her unyielding opposition to infant baptism which the Puritans practiced.
She was the first woman in the New World to be awarded a land grant, which was for a huge parcel of land in Brooklyn with access to the Atlantic Ocean. Lady Deborah divided a 16-acre part of her land into four equal quadrants with the center at the intersection of Gravesend Avenue and Gravesend Neck Road. (Gravesend Avenue has since been named McDonald Avenue.)
Thomas Campanella, a planning historian, explained that Gravesend was the second village in the English colonies to be laid out in an orthogonal manner, and the first which included a regular dispersal of public open space within the grid. The original use of that public space was a refuge for animals.
The most easily seen remnant of the early settlement is the cemetery in the southwest quadrant. The earliest record of the cemetery is from 1658. The first map of the area which includes the cemetery is from 1873, which can be seen in the Atlas of Long Island, New York. In 1875 the Prospect Park and Coney Island Railroad opened on Gravesend Avenue. In 1894 Gravesend was incorporated into the City of Brooklyn. New York and Brooklyn soon merged with western Queens and Staten Island, in 1898.
Today it is still possible to go back Gravesend and visit the almost 400-year-old settlement that made history.
Growing up in New York, I never understood the fascination with Penn Station. The name itself had a ring of history and romance, but I couldn’t understand why: All I’d ever seen there was a dingy maze of underground tunnels that were the gateway to Madison Square Garden. It took me many years to realize that the station really did have a storied past as an architectural masterpiece that dominated mid-town Manhattan from 1910 -1963.
By all accounts – meaning the black-and-white photographs and the stories my grandparents told me – the original Penn Station was everything the name evokes: It was romantic, awe-inspiring, majestic. During World War II tens of millions of people a year moved through the station, and the iconic building served as a setting for many movies.
But as the 1950s dawned rail travel began to dwindle as automobiles and air travel gained popularity. The building began to lose money and in 1963 it was torn down. As mentioned above, the current-day Madison Square Garden now occupies the space.
Today, however, 8th Avenue has regained at least some of its former glory, in the form of the Daniel Patrick Moynahan Train Hall. In a word, the new terminal is breathtaking. Located in the building that housed the James A. Farley Post Office, the 255,000 square foot space (named after the late U.S. senator from New York, Daniel Patrick Moynihan) could not give a better welcome to visitors and native New Yorkers alike. The main hall, which opened in early January, boasts a massive glass atrium designed to pay homage to the original building.
Paul Goldberger, a noted architecture critic, told CBS News that the new terminal is both an impressive work of art and a salve for the wound the city suffered nearly 60 years ago but never really recovered from.
“Losing Penn Station in 1963 is what woke a much broader section of New York to wake up to the problem (of demolishing historic buildings),” he said.
In many places throughout the United States, the price of homes has gone up significantly over the past year, but rentals are not following the same trends.
Single-family homes are in demand, while supply has remained the same, causing prices to rise. Apartments face different challenges.
For instance, in Brooklyn’s 11201 zip code, the rent for a one-bedroom apartment went up from $2,570 in the fiscal year 2020 to $2,700 in the fiscal year 2021. Four-bedroom apartments experienced a similar increase, from $3,970 to $4,180.
Fair market values leave out luxury and non-market rental housing as well as rentals constructed within the past two years. The rates are used to help government agencies determine amounts for assistance programs such as rental vouchers.
Fair market rents are also used to forecast rates. In New York, there was a 7% vacancy rate during the first quarter of 2021, according to the Census Bureau. That was a bit more than the national figure of 6.8%.
In general, apartment rents have not grown as much as single-family homes. Many cities have only seen small rent increases, while central city luxury apartment rents have gone down. The trends for the future are that as workers go back to working in the office, central city luxury apartment rents will go back up. But if more people maintain working from home, it will be hard to predict what will happen to rent prices. Even a small upward trend in remote work could push up the demand for suburban homes.
Brooklyn Commons is the new name of what was once known as the MetroTech Center. Owned by Brookfield Properties, Brooklyn Commons is a 16-acre campus that combines office space, dining options, cultural venues, and public parks. This rebrand includes a $50 million investment to update and rejuvenate the superblock between Flatbush Avenue Extension and Jay Street.
Map of the Brooklyn Commons campus
Specifically, three of the twelve Brooklyn Commons buildings will be renovated to have new foyers, outdoor porches, and ground-floor retail to attract customers. Brooklyn Commons Park, the central 3.5-acre public outdoor space of the campus, will also be revamped. The ice skating rink is already open. New benches and seating areas, better lighting, and improved mapping are all underway.
Brooklyn Commons offers ice skating at The Rink
Brooklyn Commons is also offering arts and cultural programming for the community. The Arts Brookfield program at Brooklyn Commons includes educational programs, theater performances, movie screenings, musical events, and holiday celebrations.
The skyline in the Gowanus area is changing. Residents can expect residential skyscrapers and greenery to enclose the neighborhood.
In recent weeks, the developer Domain Companies has secured a loan of $176 million to refurbish 420 Carroll Street. Construction plans include a 20-story tower, 15-story tower, and public access to the Gowanus Canal promenade. The waterfront property is set to be designed by FXCollaborative.
One of the driving forces behind the building plan is to achieve mixed-income housing, something that members of the community insist is much needed. Twenty-five percent of the new apartments are set as affordable housing, designated for families earning 40 to 100 percent area median income (AMI). The property will offer retail spaces and a range of amenities, including a lounge, fitness center, playroom, coworking space, bike storage room, and various outdoor spaces.
As part of the 82-block rezoned area surrounding the Gowanus Canal, 420 Carroll Street will be accompanied by much adjacent construction. There are plans for developing over 7.6 million square feet of residential space and 1.5 million square feet of commercial area.
The development of the 420 Carroll Street is expected to be completed in 2024. The property was acquired by Domain Companies in 2018 for a reported $47.5 million.
