In Billy Joel’s 1980 hit, “You May Be Right,” the singer boasted of his “crazy” antics crashing parties, riding his motorcycle in the rain and even walking “through Bedford-Stuy alone.”
Neighborhoods like Park Slope and Williamsburg have long been the headline-grabbers when it comes to booming Brooklyn neighborhoods. But the Bedford-Stuyvesant neighborhood is quickly losing the rough-and-tumble reputation Mr. Joel alluded to, and is now considered a prime candidate as Brooklyn’s next up-and-coming real estate frontier.
Year in Real Estate
Earlier this year Steinway Musical Instruments announced that its grand pianos would soon play their final notes at the legendary Steinway Hall after years of actively seeking a buyer pulled in a $46 million bid.
JDS Development Group and its partners in the purchase have now paid $131.5 million for the land underneath it, city Read More
Brooklyn malls don’t usually come to mind as the city’s highest-grossing commercial real estate. But this year was different, with 5100 Kings Plaza, a k a the Kings Plaza Mall, taking the top spot among citywide sales when it sold for $751 million earlier this month.
It wasn’t just the biggest sale of the year—it was the biggest outright, single-trade sale in Brooklyn ever, according to data provided by Massey Knakal Realty Services.
A property at 309 West 57th Street in Midtown West that once housed a Victorian Gothic church and later saw the likes of John Lennon and Frank Sinatra pass through its doors has changed hands for $42.5 million.
The 16-story, 75,600-square-foot rental property with 102 apartments and nearly 14,000 square feet of commercial space – currently home to night club Providence NYC – was purchased by New York City-based real estate investment firms Imperium Capital and Bronstein Properties.
The property, site of a former church and later a prominent recording studio, is located near a number of popular amenities and development projects, and it’s the latest in a string of high-profile acquisitions made by Imperium Capital.