Category Archives: Real Estate

Construction Pit at 647-649 Washington Ave.

construction-pit-at-647-9-Washington Ave-tn.jpgThis is a panoramic night shot of the construction pit at 647-649 Washington Ave.(click to enlarge) where a “rag assorting” facility once stood.

It is my homage to Cornershots.com, which documents the travels of Jimmie, a Brooklynite and photo urbanologist, and his quest for the perfect image of cities after dark (though he does more than night shots, of course).

Somehow my pit panorama got lost in the queue, so the picture is a bit dated. What’s the latest behind that fence?

As previously reported here, this is likely to become a 7 story, 70-foot-high building, with 8 apartments and 12,200 total square feet.

Link: 647-649 Washington Ave.: from Rag Assortery to Object of Condo Lust [DAILY HEIGHTS]

Guess What? Temple Tower Could Be 30 Stories After All

(NOTE: All of the ‘air rights’ business below could be out of date. Still searching for updates but have not found any.)

Interesting. You know that tall luxury condo that will be built on the Union Temple parking lot facing Grand Army Plaza? Now, a member of the Prospect Heights Parents List (Yahoo! Groups) say the developer is in trying to buying air rights from a few neighboring buildings. Successfully buying air rights would permit him build up to 30 stories. The plan would have to survive community approval and review, of course, but it could be done.

So… the New York Times article may be “incorrect” for now, but that “30 stories” figure came from somewhere.

ALSO:We found out that the Eastern Parkway block association has discussed the condo development with Council Person Letitia James. Summary:

-Glass, white, curved to fit the street shape
-Eastern Athletic’s pool will lose (some of?) its grand view! (but will still receive light)
-Meier building will be 150 feet, or slightly higher than Union Temple)

804 Bergen St.: New and Ultra-Modern

804 bergen st-tn.jpg
The hyper-prolific Guest writes in the Daily Heights message boards: “There’s a new development going up on Bergen st. There are drawings here: www.scaranoarchitects.com.click on the multi-family section and it’s the first one listed. It’s a very modern looking building, not sure how well it will fit in.”

To get a larger view, click on the image at left. Feel free to leave comments below, but the real action on this one is in this thread.

Union Temple Condo Update: Shifting Story? Stories? (Ha, Ha. Get it?)

[UPDATED]
Will the Union Temple Condo be 16-18 stories? 30 stories? 15? Both Curbed and Brownstoner picked up on Quig’s coffee-spitting moment yesterday when a New York Times reporter blithely alluded to a (ho, hum) 30-story condo to be developed on the Union Temple’s parking lot on Grand Army Plaza. Reliable sources had led us to believe that the project was going to be only 16-18 stories.

Is it possible the NYT simply got it wrong? If so, it will be another great excuse to haughtily smirk and wryly refer to that paper, with a nudge-and-a-wink, as “The Gray Lady”–which, if you’re an editorialist at a competing paper, is shorthand for “I’m intensely jealous that THEY get all the readers and that they rejected all my freelance queries.”

Now, our favorite ProHo reporter DEBORAH KOLBEN–who is always right there on the stories we care about (and who has never publicly referred to the Times in a pejorative, ageist manner), has done her own piece on the Temple Tower, which pegs its height at a more reasonable 15 stories.

Catering to the Rich: Did we call it? We called it. Developers originally and laughably sold this condo project to us as “not luxury.” However, Deb’s conversation yesterday with a “boasting” spokesperson for Richard Meier revealed that “It will be the most luxurious building in Brooklyn.” Local agents speculate a 2-bedroom unit will go for about $1 million.

So what’s the real story? 15 stories? 30? The real story is that a developer has been planning for years to put a very large, very exclusive condo in your neighborhood, and you probably didn’t find out about it until very recently.

[UPDATE TO UPDATE] Thank you, dear guest: “The NYTimes has confirmed that (the condo) is NOT in fact 30 stories. They were working from old info and will run a correction shortly. The building will be 150 feet tall, and roughly 16-18 stories.”

Say Goodbye to Sunlight? Plaza Condo May Loom at 30 Stories

From the “Affordable Housing for The People” dept.:
parking for temple members only-tn.jpgThat Grand Army Plaza condo development tentatively known as 1 Prospect Park: exactly how massive will it be? Nearly double the size we thought? Assiduous reader Quig writes in: “From today’s NYT. I almost spit coffee on my laptop.”

Today’s NYT: “Mr. Meier has taken a similar hands-on approach to a residential building he is designing in Brooklyn on Grand Army Plaza overlooking Prospect Park. The 30-story condominium includes 120 units, most of which have balconies with park views.”

Huh. There was some “discussion” of this at a community meeting about a year ago, and a few people were fuming about the long shadow this would cast–not to mention the problems a ginormous condo complex could inflict on St. John’s Place (i.e. sanitation issues and traffic from an underground garage).

The funny thing is, until today, we were under the impression that the condo would be only 16-18 stories in height. From The Real Deal, just a few months ago(Sept.-Oct. 2004): Architect Richard Meier, who designed the celebrity magnet towers at 173-176 Perry Street, is working on a new project in Prospect Heights. The building, on Eastern Parkway, is for developer Mario Procida of Seventeen Development LLC and should be ready in two years. It will be 16 to 18 stories tall, and feature one-, two- and three-bedroom units, but will “not be luxury,” Meier told New York magazine.

By the way, “Not Luxury” will be defined as affordable to the top 1% of Brooklyn families, as opposed to the usual cut-off of 0.5%. It’s a development for The People! (CAUTION: This is humor.)

According to Property Shark, the lot is still owned by the Union Temple; the lot is currently being used for parking. We are in touch with sources close to Union Temple, so stay tuned for updates.

Links:
For Act II, Architect Gets More Hands-On [New York Times]
Ownership of 17 Eastern Parkway [PropertyShark]
New Residential Developments [The Real Deal]

How to Buy Prospect Heights Property at Auction

rootsweb.com 1913 auction poster - Larson.jpgIn response to Quig’s post about the mystery Pacific St. lot going up for auction, Tom wrote in with some tips:

*These auctions happen all the time at 360 Adams Street in downtown Brooklyn. You can subscribe to the listings and get a weekly flyer of all the properties.

*This is not the best way of buying real estate. Most properties have leins you must pay off, and they are in very bad condition. Also, it is rare to find one in a good neighborhood. If it is of any value, bidding is fierce. These autions are so crowded they do them on the steps outside the building.

*You must have a check for a down payment if you win the bid. You must then secure financing to buy the property within a couple of months. Banks may be wary of these properties and you will have a hard time getting a loan.

*Each year, the city has yearly auctions for properties left to the state when no heir can claim the property. These houses are usually looted by the city first, and its contents auctioned off.

*VERY ODD: The city also sells each year at auction Odd Lots and Lots. These are empty lots and sometimes partial lots: “I have seen lots 2 feet wide by 100 foot deep. They are lots that exist between buildings that no one owns.”

Brownstoner picked up on Quig’s find and asked, “does anyone know the best way to stay abreast of both private and public auctions? We’d like to be able to keep an eye on them.”

Helpful and anonymous Brownstoner readers responded that, besides the New York Lawyer website where this listing was found, you can also check with JER Revenue Services Of course, you can also pay Property Shark a subscription fee for their listings, which they collate from various legal publications.

Finally, another anonymous Brownstoner reader noted that, if the lien is small in comparison to the property value (lien of $183K for the Pacific Street lot), “the debtor will find some way to stave off foreclosure by the auction date. Unlikely that the property will actually go to auction.”

IMAGE: Various Historical Records of Larson Relatives

Open House in Prospect Heights: $625,000 on Franklin Ave.

596 Franklin.jpgDid anyone go/is anyone planning to go to this? The numbers almost work, and when the numbers almost work, that invariably means there is something wrong with the building, the location or the deal.

Thanks to Brownstoner for calling this to our attention.

Prospect Heights
596 Franklin Ave.
Park Terrace Properties
Sat 3:30-5, Sun 3:30-5pm
$625,000

“Legal two famiy house with 3 rental units. 4 story brownstone with 4 bedroom duplex and 2 one-bedroom rental units. Needs some cosmetic TLC. Priced to sell.”

Mystery Real Estate Auction Date

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QUIG checks in: “The other day, I stumbled upon this listing:

SUPREME COURT — KINGS COUNTY … AL’S REAL ESTATE, INC., plaintiff, against MAURICE GIBSON, et al, Defendants … foreclosure and sale … I will sell, at public auction, to the highest bidder … on April 7, 2005, at 3:00 p.m. … 951 Pacific Street, Brooklyn … Judgment is for $183,526.00 …

“Auction? Real Estate? P_heights? It was a Tom Vu moment. What castle could be picked up for pennies on the Euro? I decided to investigate while walking my dogs, Monster 1 and 2. What I came upon was this vision in galvanized steel and cinderblock: What could be hidden behind those walls?”