nrv lowdown

Greenpoint, Land of Wandering Condos & Conversions

Mon, 04 Feb 2008 08:49:08 EST

Greenpoint is sandwiched between the condo booms of Williamsburg and Long Island City, so it was only a matter of time before this former industrial area got its own infestation. The area is not completely industrial; brick apartments and townhouses are now sharing space with luxury condos. Between teardowns and renovations, the neighborhood is transforming quickly, with or without the help of those pesky 10 alarm fires knocking out old warehouses. Speaking of former industrial zones, we hope we're not the only ones who were a little confused by this Toll Brothers listing for a $508K 1Br, 1Ba 518sqft, one story "condo/townhome." When we looked up a satellite map to pinpoint its location, all we could find was a warehouse parking lot near the water. Maybe the satellite image is old... or maybe the Boxcar Children are thinking of upgrading their digs? Oh wait, it says in the listing that this apartment is part of the Northside Piers community, a gleaming tower of glass. Where did that hunk of high-rise come from?

Williamsburg Condo Buyers, Please Don't Feed the Artists

Wed, 23 Jan 2008 13:19:36 EST

You know your neighborhood is changing when you can no longer tell the difference between vandalized cars and public art projects. Williamsburg, starving artist loft haven, or den of luxury condo thieves? The area originally transitioned from industrial warehouses to a refuge for artists priced out of Soho and other upscale Manhattan areas. The problem (or solution) is that now that the area has been made safe for baby strollers and Prada handbags, the artist population has had to move on to greener pastures (a.k.a. dilapidated warehouses in Queens and outer Brooklyn). At the same time, Williamsburg has not gone completely upscale. Those looking for "artsy-hip" Williamsburg need to watch those addresses - not all that goes by the Williamsburg name is located next to fair trade coffee shops and pretentious clothing stores. Few realtors are as honest as this Ardor listing for a $615K two family townhouse; "Best Bushwick Block" the ad proclaims, also saying that it is located in Bushwick/East Williamsburg. So which is it? Many listings for homes like this one just say Williamsburg.

Downtown Brooklyn, Where Luxury Condos Meet Their Working Class Cousins

Mon, 21 Jan 2008 11:54:04 EST

Downtown Brooklyn is taking a big stretch upwards. It has even acquired its own silly-hip nickname, DoBro. However, in spite of all the hype about booming office construction, there are plenty of places to sleep that don't involve resting your head on a fax machine. Luxury condos are especially in vogue, though the residential stock also includes everything from a surprising amount of co-op listings to townhouses that may have been part of the historic Underground Railroad. There is something for everyone in Downtown Brooklyn. At least, for everyone who is on the market for a condo or co-op. The residential townhouses (some of which contain condo conversions) of Brooklyn Heights, Boerum Hill, Fort Greene, and Vinegar Hill have Downtown Brooklyn hemmed in on all sides. On the waterfront, D.U.M.B.O. tends toward ultra high-end loft-living. Finding a place in Downtown Brooklyn that fits your budget is all about flexibility. Where are you willing to live? How much space do you need?

It's a Pre-War Brownstone! It's a Landmarked Townhouse! No, it's a Condo!

Fri, 18 Jan 2008 09:52:46 EST

Clinton Hill has a reputation for being a beautifully historic neighborhood, but many of the current listings are actually for luxury condos. Clinton Hill grows in popularity as buyers realize that crime rates are close to those of the Upper East Side, with burglaries less than half as common as they are in the upscale Manhattan neighborhood. The century-old brownstones and townhouses are being rediscovered and re-imagined to meet housing demand. Though some of the brand new condos are recently built, and others are conversions of the grand historic buildings that characterize the area. $400K seems to be the magic number for brand new apartments and condo-versions of older buildings. At 555 Washington Ave, just outside the borders of Crown Heights and Prospect Heights, Aguayo & Huebner are listing a new 1Br 600sqft condo for $425K. Apparently this apartment is experiencing some cultural confusion, what with the "SoHo Parisian sophistication" and "California closets". French immigrants who grew up in San Diego will feel right at home here. We're assuming that "SoHo Parisian" is a euphemism for "not tacky" and that "California" means "big".

Zen Condos and Saintly Co-ops in Carroll Gardens

Thu, 17 Jan 2008 10:38:02 EST

Carroll Gardens has a similar real estate market to nearby grandly historic Brooklyn Heights. Entire brownstones come up for sale infrequently, but co-ops inside them (or other century-old apartment buildings) are readily available. The main difference between Carroll Gardens and the neighboring Cobble Hill historic district is that more development has snuck in, leading to a minor condo boom and a slight diversification of the housing stock. Corcoran lists a set of new 3Br condos in the heart of Carroll Gardens at 116 3rd Place for $1.2M. This building must be classy since we had to look up most of the terms in the description. It turns out that "Duravit Starck wall mounted bowls" are toilets, not fancy sculptures. Just don't get them confused with the "Neptune Zen soaking tub". Mockery aside, these condos sound high-tech and well-made.

The Upper East Side...of Brooklyn?

Wed, 16 Jan 2008 15:54:17 EST

The homes in Brooklyn Heights have the grand chandeliers and ornately framed paintings one would expect in a townhouse off Central Park in Manhattan. The real estate market there mimics the historic, deep-rooted nature of the community. Townhouses are often passed within a family, so homes do not come up for sale frequently. For the same reasons, those that do appear on the market are often well-cared for. Most of the available real estate is co-op apartments in century old buildings. The Brooklyn Heights co-op community is tight-knit and long-standing. All of the buildings are near the beautiful promenade, if not actually on it, so even those without views of the city from their windows can easily appreciate the skyline.

Boerum Hill, Not Just for Oscar Nominees?

Wed, 16 Jan 2008 11:51:33 EST

Heath Ledger and Michelle Williams may have moved out, but it wasn't Boerum Hill's fault. Over the last couple of years, Smith Street and Atlantic Avenue have gone high-end hip, complimenting historic brownstones with an infusion of youth and glamor. At the same time, this neighborhood is becoming inaccessible to all but the rich and famous since 1Br condos are now worth close to $1M. There are, of course, apartments for less, but most of the listings are for at least $600-700K. If you're a starving artist, your best bet is to get into the new affordable housing project/performance center opening up there in the spring.

In Case of a Fire, Stop by Your Local Condo

Mon, 14 Jan 2008 13:38:34 EST

Prospect Heights is known for long-standing cultural institutions and historic houses, but new developments are sneaking in on its borders. This is good news for people who can't afford the $1M plus price tag for the beautiful historic houses in the area. Condos are popping up on the less regulated northeastern edges, and older buildings throughout the area are undergoing condo-versions. Some developers are trying to maintain the century-old aesthetic. For example, the red brick Firehouse735 condominiums at 735 Dean Street between Underhill and Vanderbilt Avenues. The Firehouse735 is what it sounds like, a converted fire station. The pleasant building has been changed so little by the renovation that there's a sign that says "condo" so that people won't get confused. The Firehouse735 condos are on the large side, but but also expensive; listed by Aguayo & Huebener at $719K for a 1454 sqft 1Br.

Investing in Flushing - luxury condos and DIY empty lots

Tue, 08 Jan 2008 14:14:07 EST

Flushing spans a large geographic area and offers a wide array of real estate options. The market is especially good for people looking for coops & condos, as well as single and multi-family homes of all shapes and sizes. Due to increasing foreign investment and wildly successful retail stores, downtown Flushing has become a booming mecca of real estate investment. Apartments are relatively affordable, and many renovated or newly constructed ones are on the market. For example, a recently renovated 1Br co-op is an affordable $209K and within striking distance of the Main St/Flushing 7-train stop. For apartment dwellers who are dedicated car owners, there are often large parking garages built within new construction, so you don't have to go cruising around the block 20 times to find a spot.

Condo Developers take over Crown Heights

Fri, 28 Dec 2007 13:25:09 EST

Along Washington Avenue, the street that marks the border between Crown Heights and Prospect Heights, new condo buildings are growing like weeds. Very expensive and carefully tended weeds. On the Crown Heights side, the condos are much more affordable than the brownstones and brick row houses of the neighborhood's historic district. A large, red brick building that blends with the surrounding neighborhood, the Saint Marks Lofts luxury condos are listed by Corcoran at $643K for a 1BR. The listing claims the building is in Prospect Heights, but it's really right over the border in Crown Heights. Moreover, the industrial character of the area is not very Prospect Heights.

Investment Opportunities in Sunset Park - Brooklyn.

Wed, 26 Dec 2007 12:00:56 EST

Less aggressively protected from development than Park Slope, Sunset Park has been left open to the whims and visions of developers as well as ambitious renovators. More traditional historic brownstones co-exist with those new pink brick condos that are popping up all over the city. There are also many modest townhouses, which demonstrate less historic grandeur, but are more affordably priced. The neighborhood is also being hit hard by the sub-prime mortgage crisis, so real estate values there are changing quickly with the economy.

Affordable Housing for Teachers in NYC

Wed, 12 Dec 2007 16:16:33 EST

NYC has developed various guerilla tactics for keeping teachers in the public school system as the cost of housing in the city strains their salaries. Along with temporary fixes like hiring untrained college grads and professionals through the NYC Teaching Fellows and Teach for America Programs, as well as borrowing international teachers, the Department of Education has taken a look at the city's middle income housing shortage. Though much of the affordable housing in the city was not specifically set aside for teachers, it's become clear that the city needs to provide specific resources for housing its much needed educators.

Spotlight on Crown Heights

Mon, 10 Dec 2007 12:37:43 EST

While Crown Heights offers a stunning glimpse into 19th century architecture, as evidenced by its own designated historic district, its grittier feel and lack of amenities (read: food co-ops and hip cafes) means that current real estate asking prices are out-pacing the desirability of the neighborhood. Following along with the current trend of overpriced sellers and buyer stalemate, homeowners in the neighborhood are asking too much from buyers who would probably prefer to live in Park Slope anyway.

Photos of NYC Community Murals

Wed, 05 Dec 2007 13:11:39 EST

A Crown Heights mural celebrating the potential of minority women. The fascination with street art and tagging in NYC sometimes overshadows the great public art murals around the city. Often designed and painted by community members in cooperation with artists, they decorate the plain facades of buildings and walls and often mirror the city around them. Williamsburg is particularly known for murals, but they can be found in every borough. Last summer a massive and colorful mural was created with the help of local youth in nearby Bushwick.

Update on Congestion Plan for Manhattan

Mon, 03 Dec 2007 10:15:50 EST

From NY1: "The commission looking into Mayor Michael Bloomberg's congestion plan is reportedly considering shrinking the zone in Manhattan that drivers would be forced to pay to enter. Under the mayor's plan, cars would be charged $8 to enter Manhattan below 86th Street on weekdays and $4 to drive within the congestion zone. But now, according to the Daily News, the head of a commission studying the plan told Crain's New York Business that the group is considering some major changes. One of the biggest would be moving the Uptown boundary from 86th Street down to 60th Street. Other changes include separating Midtown and Downtown into smaller zones, charging tolls on the East River bridges and dropping the $4 fee proposed for travel within the congestion zone. The commission is set to have a new draft of the plan by January 10th."

Buyer/Seller Stalemate in Manhattan

Mon, 03 Dec 2007 09:43:18 EST

According to the articles cited below, Manhattan real estate sales may finally be slowing. Hefty downpayment requirements for Manhattan apartments have kept the borough largely protected from sub-prime mortgages in general, as banks and buildings tend to have more stringent financial requirements. Rather, it's not that the Manhattan market is flooding with foreclosures (there are some, but not an avalanche), but that the confusion around the market is causing conflicting behaviors from buyers and sellers. Is the current Manhattan real estate market based on media hype? Well... hmmm...?

Affordable Artist Housing in NYC?

Fri, 30 Nov 2007 11:51:17 EST

NYC has a brilliant reputation for art, but doesn't seem to be too concerned about helping its creative set afford housing. At least not anymore. Famous artist housing developments, such as the Westbeth Artist Community in the West Village, are too popular to be of use to many of the artists who need them. SoHo artist housing mysteriously dropped off the radar after efforts a few years ago to preserve the rule requiring most landlords there to rent to artists. Washington D.C. and other cities are developing their artists housing programs to attract artists who leave NYC due to rising housing costs.

A few lesser known Brooklyn parks.

Thu, 29 Nov 2007 12:30:04 EST

The colorful view of Manhattan from Sunset Park.

High-rise life on Roosevelt Island

Thu, 29 Nov 2007 09:52:00 EST

Once a wellspring of affordable housing, Roosevelt Island's subsidized residences have slowly but surely been going private as wealthier professionals take a growing interest in living there. The island's slightly secluded and well-kept-up feel is appealing those who want to live in a less gritty version of the city. In terms of access, Roosevelt Islanders use the one F train stop located on the island, the infamous tramway, and the pink bridge connecting to Astoria, Queens.

Some shots of Stuy Town

Wed, 28 Nov 2007 11:49:55 EST

Here are some photos of Stuyvesant Town as it looks today. Due to its sale last year, the community may be in for some major changes.