Monday, April 14, 2014

Real Estate Monday

A cool $24,500,000 price tag for a development lot at 635 Fourth Avenue (19th Street) - home to a branch of the Seafarers International Union of North America - with approved plans in place for an 89,500 buildable sq. ft. site.  This translates into a 12 storey building of up to 91 units, with parking, commercial & a small community space & 6 - 12 units of affordable housing.

Ideally situated just south of Park Slope, Greenwood Heights shares many of the same amenities while representing its own unique character and sense of community. The R subway line is 2 blocks away at Prospect Avenue with direct access to the Barclays Center, Downtown Brooklyn in 10 minutes. In the immediate area, you will find Industry City, with their creative work space and big box retail and 5th Avenue, with its cafĂ©’s, restaurants and boutique stores. With rents exceeding $50/SF this offering represents a significant and clear point of entry into the ever-growing Brooklyn market. (Massey Knakal)

And talking of the Barclays Center, here are the dismal remains of Bergen Tile on Flatbush, glimpsed through construction fencing. The arena looms over the site, and the old yellow house to the rear appear in an optical illusion to be perched on a pile of rubble.  Not an illusion really.

Next door to the wooden house, a couple are up on the roof, legs dangling, enjoying the spring sun.

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