Bed-Stuy

We hear so frequently about the players behind Manhattan’s billion-dollar real estate projects and how foreign investors are pouring a global vault's worth of currency into New York City property, often shielded by LLCs. It's illuminating to get a closer look at the city’s larger real estate landscape–one that has changed so much in recent decades–and learn who's behind the soaring property values, skyrocketing rents, frenzied flipping and veritable horse-trading that has driven the unprecedented and transformative gentrification beyond Manhattan’s rarified development scene. A recent story by The Real Deal titled “Learning and earning: Hasidic Brooklyn’s real estate machers” reveals that a huge slice of the borough’s real estate pie is owned by the Hasidic community. The ultra-orthodox sect reportedly includes some of Brooklyn’s wealthiest property owners, to the tune of $2.5 billion.
Find out more

Real Estate Trends

August 23, 2016

Housing lotto kicks off today for 27 Bed-Stuy/Ocean Hill apartments, from $834/month

As a subsection of Bed-Stuy—and with a location adjacent to rapidly gentrifying Bushwick—Ocean Hill has seen renewed interest from developers in the last few years. The approved rezoning of East New York in February has also given the neighborhood a big boost and brokers have started calling the area Brooklyn's "last frontier." As such, although the area median income remains very low ($35,000), home prices are quickly moving skyward and flipping is already in full effect. But not all is lost for those with lesser means. Starting today, qualifying NYC residents can apply for 27 newly constructed apartments at 1676 Broadway and 8 Rockaway Avenue. Apartments ranging from one- to three-bedrooms have been priced between $834 and $1,163 a month and are being offered to households earning between $30,000 and $63,000.
See more on if you qualify here

Affordable Housing

August 18, 2016

Robert A.M. Stern’s 220 Central Park South now two-thirds erected

Robert A.M. Stern's latest Billionaires' Row blockbuster continues its rapid ascent into the sky. As CityRealty.com reports, 220 Central Park South (220 CPS) is now two-thirds of the way up, construction having knocked out about 600 feet of the tower's eventual 950-foot height. Application of the limestone cladding started in April and has thus far been installed across over one-third of the building. When finished in 2017, the two-winged skyscraper with its rare and direct Central Park South frontage will host 118 luxurious homes across 66 stories—and it will be one of the city's most expensive residences. Jump ahead to see more photos of all the work that's been completed.
More photos of the tower under construction here

My 700sqft: Tour Two Photographers’ Bed-Stuy Brownstone Home, Complete With Shower in Kitchen

Our ongoing series “My sqft” checks out the homes of 6sqft’s friends, family and fellow New Yorkers across all the boroughs. Our latest interior adventure brings us to two photographers’ Bedford-Stuyvesant brownstone apartment. Want to see your home featured here? Get in touch!

August 8, 2016

My 700sqft: Tour Two Photographers’ Bed-Stuy Brownstone Home, Complete With Shower in Kitchen

As photographers, Michael DePasquale and Martina Maffini have traveled the world, shooting everything from India’s middle class to the last remaining Jewish cowboys in Argentina to the polished interiors of artists and designers across Europe. While this pair's subjects are wide-ranging, their personal style is far more restrained. In their Bed-Stuy brownstone they let the building's historic details define their space, complementing these features with the artwork of friends and personal relics. Have a look inside their home ahead, and be sure to pay special attention to one defining attribute: the shower in the kitchen.
Go inside their apartment here

Friday 5: Find Free Rent in Lovely Brooklyn Heights and Bed-Stuy

Every Friday 6sqft is rounding up five of the best rental deals showcased on CityRealty.com’s newly launched no-fee rentals page, a space where house hunters can find the best concessions being offered by landlords across the city.

August 5, 2016

Friday 5: Find Free Rent in Lovely Brooklyn Heights and Bed-Stuy

By 6sqft

If you're an urban dweller that appreciates the opportunity to disconnect from the craze of the city, Bed-Stuy or Brooklyn Heights are two of the best places to find respite. While these neighborhoods don't boast the same trendsetter vibes as other borough favorites like Williamsburg or DUMBO, they do offer an unparalleled beauty highlighted by leafy streets and rows and rows of historic brownstones and brick townhouses. Below we've rounded up five buildings in these two lovely locales offering free rent and more.
check them out here

Uncategorized

July 28, 2016

Time Lapse Video Shows How Midtown’s Tall Towers Will Cast Dark Shadows on the Park

A dozen supertalls (1,000 feet or higher) in the construction or planning stages in Manhattan include a significant number on the rise along the Billionaires’ Row strip just south of Central Park. This trend has been causing concern due to the shadows the looming towers will cast on the park. Now, a slightly ominous time-lapse video from Cube Cities shows how Billionaires' Row will have a sundial effect on the park (h/t Gothamist). The length and duration of the shadows will vary as the sun's angle changes with the seasons; fall and winter days are looking dark, with the tall towers' long shadows reaching as much as a mile into the park.
Watch the tall towers darken the park on a fall day in the future

New Developments

July 12, 2016

Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?

Gary Barnett's Extell Development has become synonymous with sky-high towers, especially those along Billionaires' Row -- the 1,005-foot-tall One57 and the 1,550-foot-tall Central Park Tower -- where it appeared that they were readying to construct a third behemoth that would rise more than 700 feet. However, Crain's reports that Extell has filed plans for the site at 134 West 58th Street (the same block as One57), and they call for a stubby, 18-story, 41-unit condo building that's less than 200 feet tall.
What's the deal?

July 8, 2016

$995K Bed-Stuy Loft Boasts Custom Closet and Reclaimed Wood Staircase

By Emily Nonko

689 Myrtle Avenue in Bed-Stuy is known as the Chocolate Factory Lofts as this warehouse building was formerly home to the Chocoline Chocolate Factory. Today there are 45 loft apartments in the building, and this one stands out from the rest--at least according to the listing. The one-bedroom pad is decked out with custom, one-of-a-kind details, like a curved, iron and reclaimed wood staircase and a hand-built five section "disappearing" closet. (In that it's storage space that blends right in with the apartment.) This quirky loft has just hit the market for a hair under $1 million.
Take a look around

Distinctive Homes

June 26, 2016

Boaz Gilad’s Bed-Stuy Rental Marcí Begins Leasing With $1,846/Month Studios

Another one of Boaz Gilad's reported 40+ Brooklyn projects has met the finish line with leasing kicking off at the Marcí in Bedford-Stuyvestant. Rising eight floors from the corner of Marcy Avenue and Kosciusko Street, the 35,000-square-foot project presents an inoffensive Rubik's Cube design hashed up by Franklyn Estrella Architects. Inside are 41 studio, one- and two-bedroom no-fee apartments. Pricing of the building's seven active units are rather affordable for new construction, with available units ranging from $1,846/month studios, $2,862/month one-bedrooms, and $2,723/month two-bedrooms.
More on the building

June 16, 2016

New Renderings of Extell’s Central Park Tower Emphasize Design and Record Height

By Annie Doge

A new set of images of the world's upcoming tallest residential tower have been uncovered, these better revealing the cantilevering silhouette of the 1,550-foot supertall and how it will relate to the skyline of Central Park South. The images of the Central Park Tower (née Nordstrom Tower) were first spotted by NY Yimby and are part of official EB-5 Immigrant Investor program materials posted online and provided by developer Extell. As such, they confirm that the supertall will indeed no longer have the spire, a feature which would have brought the tower to 1,775 feet and just a foot shy of One World Trade. The materials also reveal that the tower is being marketed with a height of 133 floors (the actual count is just 95, though some units like the 17,000-square-foot three-story penthouse have ceilings that stretch well beyond the standard) and 179 luxury residential units.
more here

June 15, 2016

Historic Home Upgraded by High-End Furniture Designer Asks $2.995M in Bed-Stuy

By Emily Nonko

588 Madison Street is a French Neo-Grec brownstone built in 1889 by the architect William Godfrey. While the single-family, Bed-Stuy home is steeped in history, a recent owner has brought it stylishly into modern day. The owner/developer, a principle at the design firm KGBL, specializes in designing high-end furniture. Here, they played off the existing historic details to add some unique, modern touches. And the mashup of historic and modern is asking nearly $3 million.
Take a look

Distinctive Homes

June 14, 2016

Check Out the Manhattan Skyline in 2020! New Development Sales to Hit $8.4B This Year

As part of their Manhattan New Development Report, CityRealty has released a trio of skyline renderings that show how the city will appear in 2020 -- looking south from the Lower East Side, north from the tip of the island, and of course, down on Central Park South's Billionaires' Row. The eye-popping images underscore the fact that new developments have been "markedly above the average price of all other Manhattan condos since 2013." The average sales price in new developments is expected to hit $4.4 million this year and $5.7 million by 2018. By comparison, the expected average price of a non-new development condo for 2016 is $2.65 million. Moreover, new development sales totaled $5.4 billion last year, up from 2014's $4.1 billion. This figure is expected to reach $8.4 billion this year and more than $10 billion by 2018.
See all the renderings and find out which buildings are leading the pack

June 7, 2016

Another Luxury Development May Rise on Billionaires’ Row

Crain's reports that another prime piece of property will soon be changing hands, putting 126,000 square feet of development rights in play. The Steinberg family last month made an agreement with commercial developers Thor Equities and General Growth Properties to sell neighborhood fixture Lee's Art Shop's four-story structure at 220 West 57th Street for $85 million, a deal that is expected to close this month. It is not yet clear what the developers plan to do with the landmarked building, but what is known is that the property comes with the right to build atop the historic structure—itself boasting 21,837 square feet on a sizable 8,400-square-foot lot.
find out more here

New Developments

May 20, 2016

Bed-Stuy’s The MYNT Offering One Month Free on New Leases

In the thriving Bedford-Stuyvesant section of Brooklyn, the recently finished rental building named The MYNT is offering one month free on 12-month leases for select apartments. Currently, two no-fee units are complying with the offer: Unit 4J is a three-bed, two-bath spanning 1,200 square feet is available for a net effective rent of $3,484/month, and two floors above, unit 6J is a two-bed/two-bath available for a net effective rent of $3,117/month.
find out more about the deal here

May 12, 2016

Preserved Stuyvesant Heights Brownstone Was Jackie Robinson’s First Home in Brooklyn

Besides being a newly-hot neighborhood, Brooklyn's Bedford-Stuyvesant holds one of the city's finest collections of historic brownstones. Though many beautiful homes didn't survive the neglect of the late 20th century, many that did have been remarkably preserved or painstakingly restored to their original splendor. One of the highest concentrations of those impressive townhouses can be found in the Stuyvesant Heights Historic District in the south-central part of the neighborhood. It's here that you'll find this landmarked four-story home at 407 Stuyvesant Avenue, just arrived on the market for $2.875 million. According to the listing, baseball icon and civil rights pioneer Jackie Robinson lived here, and the brokers tell 6sqft that this was his first residence in Brooklyn. They add that when the current owners moved in, they found a treasure trove of memorabilia. So let's just say this 20-foot-wide Romanesque Revival-style brownstone hits it out of the park when it comes to intact historic detail and unspoiled 19th century architecture.
Explore this central Brooklyn treasure

May 12, 2016

Interview: RAMSA’s Paul Whalen Reflects on the Unique Design of 15 Central Park West

For good reason, hundreds if not thousands of articles and books have been published on 15 Central Park West, the “Limestone Jesus” designed by famed architect Robert A.M. Stern. This modern icon is credited with not only elevating the New York City luxury market to a level no one before dreamed it could reach, but […]

May 5, 2016

$250M Penthouse at 220 Central Park South Will Officially Be NYC’s Most Expensive Apartment

By Ondel Hylton and Julian Friedman

For over a year, it's been a guessing game with just how expensive 220 Central Park South's penthouse will actually be. Initial murmurings put the price at $175 million, but later reports that claimed hedge fund tycoon Ken Griffin was the buyer upped it to $200 million. The guessing is over, though, as The Real Deal has obtained an amended offering plan filed with the New York Attorney General, which shows that the 23,000-square-foot, four-floor "billionaire's bunker" will cost a mind-boggling $250 million (or $11,000 per square foot), making it by far the city's most expensive apartment.
Check out the insane floorplans

Uncategorized

April 25, 2016

First Look StudiosC’s Bed Stuy Rental Underway at 1875 Atlantic Avenue

Over the next decade, Brooklyn's Atlantic Avenue will likely continue its transformation from high-speed deathtrap to high-density residential boulevard. With more than a dozen projects already taking shape near its western extents, such as the 16-tower Pacific Park project, Cobble Hill's LICH redevelopment, and a pair of towers at Brooklyn Bridge Park, it's not difficult to imagine infill developments progressing eastward, rising from the acres of underutilized land along the ten-mile artery. And in East New York, the City Council just approved a rezoning of the neighborhood that allows for 10- to 14-story apartment blocks to rise along Atlantic Avenue. In Bedford-Stuyvesant, in between the two much-discussed areas, StudiosC Architects has crafted an eight-story apartment block at 1875 Atlantic Avenue, which will contain 118 rental units.
Get all the details on the building

April 18, 2016

Robert A.M. Stern’s 220 Central Park South Gets Stoned; New Renderings and Construction Shots

At the forefront of Midtown's high-rise sierra, a new peak is emerging. Simply addressed 220 Central Park South, the two-winged development is being designed by celebrated historian and poet of the city's skyline Robert A.M. Stern and developed by commercial and retail heavyweights Vornado Realty Trust. The tower portion of the complex has already ascended some 300 feet above street level and is noticeable from many parts of Central Park. Ultimately, it will stand 66 stories, 950 feet high, making it among the tallest residential buildings in the city. The exclusive, Central Park South-fronting wing, dubbed "The Villas" is up to the third of 17 stories and will be topped by a palatial quadplex penthouse. Earlier this month, the tower's warm limestone cladding was being applied to the lower mechanical floors, which will have 18- to 24-foot-high ceilings, boosting the building's height by more than 100 feet and allowing nearly all its residences to possess Central Park views. To coincide with the construction work, Vornado recently published a collection of new renderings in a property portfolio, showing us for the first time several new looks at the project, including three full-scale views from Central Park and close-up looks at the base, porte-cochere, and an upper-level interior.
Check out the renderings and construction shots right here

April 15, 2016

Bed-Stuy Townhouse Beauty With Modern Upgrades Asks $2.75 Million

By Emily Nonko

Bed-Stuy, Brooklyn is known for its stock of townhouses, many of which still retain incredible amounts of historic details. This one, at 17 Madison Street, has been renovated in a way that tastefully retains features like woodwork, parquet floors, marble mantlepieces and wainscoting. And beautiful interior design, on top of that, is the icing on the cake.
Take an interior tour

Distinctive Homes

March 21, 2016

The Sale of This $2.8M Stuyvesant Heights Corner Limestone Beauty Will Benefit Creative Kids

There's so much to love about this 4,100-square-foot, four-story limestone townhouse at 271 Stuyvesant Avenue we hardly know where to start. For lovers of historic homes, this 1890s townhouse has a bounty of intact original details on every floor, from fireplaces to inlaid parquet floors to moldings and wainscoting. It's in a great corner spot in the prized Stuyvesant Heights historic district, the Bed-Stuy neighborhood known for its rows of architecturally notable brownstones and limestones. There's outdoor space and a deck; use the garden-level apartment for extra income (or live in the lower unit, with the yard and finished cellar). But perhaps the most rare blessing of this property is that proceeds from the sale of the $2.795 million home will "enable the launch of a non-profit creative residency for marginalized youth," founded by the current owner, renowned photojournalist and Guggenheim Fellow Brenda Kenneally.
Tour this amazing historic townhouse

March 10, 2016

Property Markets Group Shares New Eye Candy of 111 West 57th Street

Here's a new set of images of Property Markets Group's and JDS Development's 111 West 57th Street. In case you haven't been paying attention, the highly-anticipated tower will be among the tallest residential skyscrapers in the world, climbing some 1,421 feet high to its tip. Designed by SHoP Architects, the feathery spire is sheathed in terra cotta, bronze and a glass curtain wall. The tower will be the most slender skyscraper in the world with a height to width ratio of 24:1.
More renderings ahead

March 10, 2016

Closing Time at 432 Park: A Look at the Numbers at NYC’s Tallest and Most Expensive Building

Closings at Macklowe Properties/CIM Group‘s Billionaires’ Row blockbuster 432 Park Avenue officially commenced just eight days into the new year, and now that enough time has gone by for these sales to be re-listed as rentals, CityRealty has put together an informative infographic that takes a look at the numbers at New York City's tallest and most expensive residential building. There's a lot of fun and fascinating info to be found ahead, but one of the most surprising facts? Of the 141 units available, only 13 have sold to date.
See the full infographic here

City Planning Commission Approves Controversial East New York Rezoning Plan in 12-1 Vote

Map of proposed rezoning via Department of City Planning

February 25, 2016

City Planning Commission Approves Controversial East New York Rezoning Plan in 12-1 Vote

The New York City Planning Commission voted 12-1 in approval of Mayor de Blasio's controversial rezoning plan for East New York, Gothamist reports. It's the first of 15 low-income neighborhoods scheduled for rezoning as part of the Mayor's affordable housing plan, which promises to create or preserve 200,000 units of affordable housing. The City Council is scheduled to vote on the rezoning this spring. As part of what is known as Mandatory Inclusionary Housing (MIH), rezoning plans for East New York's Cypress Hills neighborhood and adjacent Ocean Hill in Bed-Stuy would have 7,000 new apartments built by 2030, 3,447 of which will be designated affordable, in addition to one million square feet of commercial space. Of those affordable units, 80 percent would be reserved for families (defined as a household of three, with any number of earners) making no more than 60 percent of the Area Median Income (AMI), or $46,000; 27 percent would go to families making 40 percent of the AMI or $31,000.
Find out more

February 16, 2016

My 1,640sqft: Inside Chef Devin Gaffney’s Rent-Stabilized Classic Six on Billionaires’ Row

Our ongoing series “My sqft” checks out the homes of 6sqft’s friends, family and fellow New Yorkers across all the boroughs. Our latest interior adventure brings us to chef Devin Gaffney's Central Park South home. Want to see your home featured here? Get in touch! Whenever 57th Street and the few blocks that cluster Central Park South make the news, headlines usually swirl around how there's a brand new multi-billion dollar tower on the rise or how a condo in One57 just broke some city record. But lest we forget, many mere mortals like ourselves still fill out the more elfin edifices surrounding these supertalls. One such resident is Devin Gaffney, a chef (he's whipped up dishes at Brooklyn's beloved Speedy Romeo and No. 7) who not only grew up in the area, but moved away, spent 10 years in Brooklyn, and then moved back to the island into the same apartment he called home during his formative years. Ahead, Devin takes us through his eclectic, art-filled (many works centuries-old) classic six in a 1913 construction built for musicians just a block from Carnegie Hall, a block from Central Park, and right smack in the middle of one of New York City's most coveted and most expensive areas.
Go inside Devin's home here

February 12, 2016

Revealed: Central Park Tower Shows Off Its Retail Base