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Brooklyn Issue

Brooklyn Issue

South Brooklyn’s Time to Shine

The sun sets over the Coney Island Boardwalk. (Credit: New York Habitat)

South Brooklyn’s waterfront neighborhoods have long fostered considerable charm and affluence despite being overshadowed by the explosion of “brownstone Brooklyn,” Williamsburg and Bushwick.

A few isolated incidents—take the 2011 Brighton Beach boardwalk shooting—and Superstorm Sandy didn’t help with image improvement, but recent developments point to South Brooklyn’s waterfront communities as the next Kings County neighborhoods to catch fire.

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Brooklyn Issue

Batting 1000: Jonathan Butler on his Crown Heights Development

1000 Dean Street. (Credit: Michael Nagle)

In July 2010, Jonathan Butler, Brooklyn’s “Brownstoner” blogger and Brooklyn Flea co-founder, published a post about 1000 Dean Street, a 140,000-square-foot abandoned commercial building and former Studebaker service station in Crown Heights. The building, then listed for $14 million, sat in what Brownstoner called “the most interesting, untapped area of Brownstone Brooklyn.”

“If only we had the $5 million or so that will be required for a down payment,” Mr. Butler wrote. Read More

Brooklyn Issue

City Point of No Return

CityPoint

Though controversy has surrounded the City Point development in Brooklyn since its inception, the development’s first residential tower is rising under the radar as the tussles subside, at least temporarily, and the commercial real estate industry readies for a major boost for the Downtown Brooklyn area. 

The residential portion of the project’s second phase has risen Read More

Brooklyn Issue

A Spec Office Building Signals W’burg’s Transformation Into a 24-7 Destination

Williamsburg's still-evolving waterfront. (Credit: Mark Stinson)

Williamsburg’s real estate success story has mostly centered on its residential boom—until now. With a new speculative office tower planned for the Brooklyn neighborhood and high-profile retailers preparing to set up shop, the former industrial area and hipster haven is becoming a hotbed of major league commercial activity.

The neighborhood has been abuzz over, and not always happy about, its residential development, which, with many more projects on the horizon, continues to overshadow the commercial market. There are more than 6,100 residential units in the pipeline, according to data compiled by MNS in January.  Read More

Brooklyn Issue

Terra Firma: Adam Hess of TerraCRG

Adam Hess of TerraCRG. (Credit: Celeste Sloman)

Last summer, the Brooklyn-based real estate investors at RedSky Capital were pursuing an acquisition in the vicinity of the Barclays Center when their search brought them to 76-82 St. Mark’s Avenue, located two blocks from the arena.

The 23,900-square-foot property was being marketed by Adam Hess of TerraCRG and boasted 24,000 square feet of air rights, as well as 15 apartment units and three commercial spaces, all fully occupied. It was the perfect fit. Read More

Brooklyn Issue

Councilman Antonio Reynoso Vows to Stamp Out Irresponsible Development [Updated]

Councilman Antonio Reynoso (credit: Lea Rubin)

As the new councilman for District 34, which includes Williamsburg and portions of Bushwick in Brooklyn and South Ridgewood in Queens, Councilman Antonio Reynoso personally understands the issues of his constituents.

He was born, bred and still lives in Williamsburg, a neighborhood he hopes never to leave. Plus, Mr. Reynoso spent seven years under the tutelage of his predecessor, Councilwoman Diana Reyna, working as her budget director, legislative director and, eventually, chief of staff until he quit to campaign for her seat. Read More