greenpoint real estate

N. 4 Street Retail Prices Soar Ahead of L Train Shutdown

N. 4th Street at Bedford Avenue looking West Google Maps)

N. 4th St. between Driggs Avenue and Kent Avenue had the largest increase in retail rental prices over the last year, where prices increased by 34 percent according to a REBNY study that looked at 16 of Brooklyn’s “prime retail corridors,” The Real Deal reports. Williamsburg’s N. 4th Street has seen a proliferation of corporate chains set up shop over the past couple of years including Whole Foods, Levis, Scotch & Soda, and Chipotle.

Bedford Avenue at N. 7 Street Google Maps)

Still, on nearby Bedford Avenue between Grand Street and N. 8th St. prices decreased by 11 percent to $351 per square foot. Rents in Williamsburg may drop further after the L train shuts down between Manhattan and Brooklyn for 15 months beginning in April 2019.

In Greenpoint, Franklin Street between Meserole Avenue and Commercial Street saw no change in the $74 per square foot price for groundfloor retail since last year, according to the study.

Continue reading

Category: News | Tags: , , , , , , | 0 Comments

Will This Greenpoint Landmarked Church Become A Trophy Home?

 

St. Elias Church in Greenpoint is for sale

The Former St. Elias Church, the iconic 1870 landmark brick building at 145 Kent Street, is going to be a monster single-family home if developers have their way. The church has been sitting vacant for more than a decade. In 2007, Hirsch Enterprises, a company specializing in church conversions, purchased the property for $3.5 million, hoping to cash in on the red-hot local property market, but it has yet to see a return on its investment.

The former Russian-Catholic Rite church offers a huge interior covering 13, 800 square feet, but the property has proven difficult to develop and sell for a number of reasons. The church is landmarked and any development that alters the gorgeous façade must be approved by the landmarks commission. Did we also mention the $7.1 million price tag, which might inhibit all but wealthy buyers? Continue reading

Category: Culture, News | Tags: , , , , , , | 3 Comments

Building (and Exploding) on the River — The Hook-up (8/17)

1056 Manhattan Avenue, via Yimby

It’s been an explosive week here in Greenpoint. While real gunfire rang out on Noble St. on Tuesday, stunt explosions detonated over the Greenpoint Avenue Bridge the very same day.

In Real Estate news, a new behemoth is going up on Manhattan Avenue. The first renderings have been revealed for 1056 Manhattan Avenue, clocking in at 56,746 sqft. of retail and residential space.

One Blue Slip, the first of Greenpoint Landing’s market rate buildings is open for leasing. One-Bedrooms begin at $3,225, and according to the New York Times, 90% of units have water views.

If you want to get River Views without paying an arm and a leg, you can tour the new phase two of Hunters Point South Park in Long Island City.

 

Category: News, The Hook-Up | Tags: , , , , , , , , | 0 Comments

325 Apartments to be Built on Nuhart Site

Rendering of 22 Clay St. Via the Real Deal

Nothing says toxic development quite like a state-level superfund site. But, Yoel Goldman, of All Year Management, a firm that toped Stabilizing NYC’s list of the city’s worst landlords, is moving forward with a plan to demolish the former Nuhart Plastics factory and build two new six-story apartment buildings at 22 and 26 Clay Street.

Together, the two buildings will bring 325 new apartments to Greenpoint. Additionally, 6,000 square feet at 22 Clay Street will be set aside for commercial space.

This is not the first time that major developers have tried to build on land near the Nuhart site that is considered highly-contaminated. In June, the neighborhood organization Neighbors Allied for Good Growth lodged a petition against Greenpoint Landing’s proposed K-8 school, which is slated to be built across from the factory space.

 

Category: Environmental, News | Tags: , , , , , , , | 3 Comments

Docking, Driving, Building and Borrowing — The Hook-up (6/8)

Williamsburg car-share sites dedicated to the DOT’s new pilot program. Via Greenpoint Post

Happy Friday, Greenpoint! Now you’re really living — because the Newtown Creek Alliance has announced plans for the construction and installation of a second Living Dock within Newtown Creek.

And if that doesn’t quicken your pulse, maybe the unveiling of a new staircase at the Bedford Avenue L station will. They opened on Saturday as a first taste of the MTA larger L-pocalypse repair work.

But, with more stairs comes fewer parking spaces. The city has reserved dozens of spots in Williamsburg as part of its car-sharing pilot program.

Speaking of sharing, Brooklyn Public Library cardholders can now borrow musical instruments for up to two months at a time!  Continue reading

Category: News, The Hook-Up | Tags: , , , , , , , , , , , , , , | 0 Comments

Banking on New Development — The Hook-up (6/1)

There were some major Real Estate stories in the news this week. First, Greenpoint Savings Bank (807 Manhattan Avenue) has been sold to investor Jack Terzi for $10 Million. While still under-long term lease to Capital One, the building may become retail space in the coming years.  Continue reading

Category: News, The Hook-Up | Tags: , , , , , , , , , | 0 Comments

Live in a One-Bedroom on Manhattan Avenue for $1020/month

977 Manhattan Avenue
977 Manhattan Avenue via 6sqft

While many Greenpointers find it difficult to cheer constant “luxury” real estate development in the neighborhood, the situation may yield one perk: the housing lottery. The newest spot with apts on offer is 977 Manhattan Avenue, between India and Huron. The entire 14-unit building is going for a cool $14.25 Million, but New Yorkers earning 60% of the area median income can apply for 3 1-bedroom apartments, each asking $1,020/month, including utilities.

The environmentally conscious among us might be excited to know that the building is Green Certified, and sports energy-efficient elements, including solar panels. Other perks include a bike room, central air, and in-ceiling speakers.  Continue reading

Category: News | Tags: , , , , , , , | 0 Comments

Pricey Condos, Pretty Parkland and How to Buy Your Apartment for $100 — The Hook-up 12/22

Mini new York at the holiday
A merry, mini, holiday at the Queens Museum via Artsy.net. Photo by Max Touhey

Happy Holidays, Greenpoint! Greenpoint’s festive lights, abundance of holiday markets, and glorious array of bakeries has us all set for merry making. While we have some great ideas for last minute gifts, the news this week points to one big ticket item: if all you want for Christmas is a condo… you’re in luck. Two more properties in the area have been acquired by development firms.

Mortar Arch + Dev is planning a 5-story 14,000 square-foot project at 167 Eagle Street that will include 14 condos.

Grand Street Development has updated its design for 848 Lorimer Street, a six story building with over 36,000 square feet and 52 apartments.

Meanwhile, the waterfront esplanade promised in front of The Greenpoint, a 40 story development still in progress, is beginning to take shape. Private developers are required to create public park land, and to cede that land to the city, as part of the 2005 rezoning agreement. The esplanade should be complete by the spring.

If all this redevelopment is getting you down, here’s something that might bring a little cheer: the Queens Museum has a stunningly accurate 1:1200 scale model of New York City. The model was first commissioned by Robert Moses for the 1964 World’s Fair, and has been updated over the years. In order to maintain the model, the Queens museum is “selling” the miniature properties. For $100, you can buy any apartment you like, and even get a deed in the mail.

Category: News | Tags: , , , , , | 0 Comments

Everything You Need to Know As Development Prepares to Go Full-Throttle in Greenpoint

A rendering of a high-rise coming to Greenpoint Landing (via Brookfield Property Partners and Park Tower Group)
A rendering of a high-rise coming to Greenpoint Landing (via Brookfield Property Partners and Park Tower Group)

If the trucks, dust, and noise of recent months haven’t been self-evident enough, the Northwest corner of Greenpoint is now bracing itself for more of the above.

In a meeting held Tuesday between developers, city officials, and community representatives, Council Member Stephen Levin attested to the notion that we’re more or less exiting the warmup phase of the current development cycle and heading for the main event.

“The reality is that the pace of development has sped up over the last six months to a year,” he said. “Even since we first start meeting, the pace of development has really accelerated. That’s because the economy’s doing well, banks are lending, developers are getting in the ground, and things are moving.”

Organized by Neighbors Allied for Good Growth (NAG), the meeting gave residents an opportunity to ask some tough questions and hear a slightly more unscripted perspective from developers.

Hot topics included Greenpoint Landing, the West Street project (what’s the deal with all those missing trees?), environmental remediation at NuHart, and the not-so-promising future of Greenpoint’s parking situation. The aftermath of the infamous Halloween rave also received some airtime (for those curious, fines will be levied, but the amount is still undetermined).

nuhartThat construction is inevitable (and that it’s inevitably a nuisance) is hardly breaking news, but it seems as though residents still have a window of opportunity to air their concerns and perhaps influence the direction some of this taking. The public comment period for the Nuhart State Superfund remediation, for example, is still coming up.

In the meantime, here are a few of the latest updates from the land of jackhammers drilling into toxic soil. Continue reading

Category: Community, News | Tags: , , , , , , , | 0 Comments