950 Hart Street, Brooklyn NY - Massey Knakal Realty Services
950 Hart Street, Brooklyn NY - Massey Knakal Realty Services
950 Hart Street, Brooklyn NY - Massey Knakal Realty Services
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<strong>950</strong> <strong>Hart</strong> <strong>Street</strong>, <strong>Brooklyn</strong> <strong>NY</strong>
As Exclusive Sales Agents<br />
We are Pleased to Present the Following:<br />
For Sale<br />
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong><br />
<strong>Brooklyn</strong>, <strong>NY</strong> 11237<br />
$5,500,000<br />
For Further Information or to Arrange<br />
An Inspection Tour of the Property,<br />
Please Contact:<br />
Edward T. McLaughlin<br />
Director of Sales<br />
205 Montague <strong>Street</strong>, 3rd Fl<br />
<strong>Brooklyn</strong>, <strong>NY</strong> 11201<br />
(718) 307-6547
Best Inventory<br />
On average, <strong>Massey</strong> <strong>Knakal</strong> exclusively lists<br />
600+ properties at any given time – the largest<br />
inventory of properties in the New York City<br />
metropolitan area. More buyers and sellers choose<br />
to work with <strong>Massey</strong> <strong>Knakal</strong> than any other firm<br />
for any size or type of property transaction.<br />
The MK Advantage for Buyers<br />
65 Hope <strong>Street</strong><br />
Best Territory Knowledge<br />
The <strong>Massey</strong> <strong>Knakal</strong> Territory System assigns<br />
only one sales agent to represent property in a<br />
given area, making these agents superior real estate<br />
experts for their territory. The benefit to you is that<br />
our agents can assist you with making a more<br />
profitable buying decision. You can be confident<br />
that a purchase made through <strong>Massey</strong> <strong>Knakal</strong> will<br />
be the right decision for your needs.<br />
Best Opportunity<br />
<strong>Massey</strong> <strong>Knakal</strong> treats all buyers fairly, which means that you will always have an equal opportunity to purchase a property. Since <strong>Massey</strong><br />
<strong>Knakal</strong> only handles exclusive listings, you will be able to get accurate property information and up-to-the-minute status reports on the<br />
availability of all our properties. The benefit to you is that you will not waste valuable time tracking properties that have already been<br />
sold. Additionally, throughout the purchasing process, you will always be treated with respect and professionalism by our sales agents.<br />
<strong>Massey</strong> <strong>Knakal</strong>: We Know New York City. Know Us.
Table of Contents<br />
Introduction<br />
I. Maps and Photographs<br />
• Neighborhood and City Map<br />
• Transportation Map<br />
• Tax Map<br />
• Exterior and Interior Pictures<br />
• Surrounding Neighborhood<br />
II. Floor Plans and Zoning<br />
• Surrounding neighborhood<br />
III. Building Information<br />
• Income<br />
• Expenses<br />
• Violations<br />
IV. Comparable Developments and Sales<br />
• Condominium sales<br />
• Rental rates<br />
V. Local News<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Table of Contents
• Maps<br />
Section 1
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong><br />
In Bushwick, <strong>Brooklyn</strong><br />
Two west avenues off the Bushwick neighborhood – Broadway and Bushwick Avenue –<br />
reach Manhattan through the Williamsburg Bridge. At the rear end of Bushwick, a highway<br />
(Jackie Robinson) connects Bushwick to the Queens borough.<br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
New York City Map
WILLIAMSBURG<br />
RIDGEWOOD<br />
(QUEENS)<br />
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong><br />
In Bushwick, <strong>Brooklyn</strong><br />
BEDFORD<br />
STUYVESANT<br />
The Bushwick neighborhood is situated east of Williamsburg, north of Bedford Stuyvescent,<br />
and south of Ridgewood (in Queens).<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Bushwick Neighborhood
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong><br />
In Bushwick, <strong>Brooklyn</strong><br />
15 minutes on the “L” train will get you from the Dekalb Avenue station, located a block from<br />
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong>, to Union Square. The “L” subway train has gained in popularity as the most<br />
up to date system in <strong>NY</strong>C.<br />
56 West 126th <strong>Street</strong><br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Subway “L” Train<br />
to New York City Map
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong><br />
The bus line from <strong>950</strong> <strong>Hart</strong> Steet can lead to connections that reach downtown <strong>Brooklyn</strong> and<br />
Queens.<br />
56 West 126th <strong>Street</strong><br />
Edward 1236 T. McLaughlin, Ocean Parkway Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Bus Lines
Tax Lot Map<br />
Land Map<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Tax Maps
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Condominiums and Rental Lofts Around <strong>950</strong> <strong>Hart</strong>
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Exterior Photo
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Exterior Photos
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Roof Photo
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Boiler Photo
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Hallway Photos
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Interior Photos
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Interior Photos
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Neighborhood Photos
<strong>950</strong> <strong>Hart</strong> St<br />
1610 Dekalb Ave<br />
(Condo-conversion)<br />
1615 Dekalb Ave<br />
(Rental Lofts)<br />
“L” Subway gate<br />
101 Wyckoff Ave<br />
(Condo-conversion)<br />
93-95 Wyckoff Ave<br />
(Condo-development<br />
not shown)<br />
70 Wyckoff Ave<br />
(Rental Lofts)<br />
View looking south<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Highlights Around <strong>950</strong> <strong>Hart</strong>
Section 2
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Exterior Layout
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Floor Plans - Basement
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Floor Plans – First Floor
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Floor Plans – Second Floor
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Floor Plans – Third Floor
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Zoning
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Exterior Layout
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong><br />
In Bushwick, <strong>Brooklyn</strong><br />
Address<br />
Block / Lot<br />
Lot Area<br />
(approx.)<br />
Lot Dim.<br />
(approx.)<br />
Zoning<br />
FAR<br />
Buildable<br />
(approx.)<br />
<strong>950</strong> <strong>Hart</strong> <strong>Street</strong><br />
3237 / 27<br />
75’ x 100.0’<br />
7,500 sf<br />
M1-1<br />
1.0<br />
17,550 sf<br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Zoning
M1<br />
M1 districts range from the Garment District in<br />
Manhattan, with its multistory lofts, to parts of<br />
Red Hook or College Point with many one or<br />
two-story warehouses studded with loading<br />
bays. The M1 districts is often a buffer between<br />
M2 or M3 districts and adjacent residential or<br />
commercial districts. Light industries typically<br />
found in M1 areas include woodworking shops,<br />
auto storage and repair shops, and wholesale<br />
service and storage facilities. In theory, nearly<br />
all industrial uses can locate in M1 areas if they<br />
meet the more stringent M1 performance<br />
standards. Offices and most retail uses are also<br />
permitted. Certain community facilities, such as<br />
hospitals, and allowed in M1 districts only by<br />
special permit but houses of worship are<br />
allowed as-of-right.<br />
In M1-5A and M1-5B districts mapped in<br />
SoHo/NoHo, artists may occupy joint living-work<br />
quarters as an industrial use in loft buildings.<br />
Other than M1 districts paired with residence<br />
districts in Special Mixed Use Districts, MI-D,<br />
M1-5M and M1-6M districts and the only<br />
manufacturing districts in which residences are<br />
permitted. In M1-6 districts, mapped in Sunset<br />
Park and Maspeth, limited new residential uses<br />
with a maximum FAR of 1.65 are permitted only<br />
by City Planning Commission authorization.<br />
FAR (max)<br />
Parking<br />
M1-1<br />
1.0<br />
required<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
M1-2<br />
2.0<br />
required<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
M1 Manufacturing Districts<br />
M1-3<br />
5.0<br />
required<br />
M1-4<br />
2.0<br />
not required<br />
M1-5<br />
5.0<br />
not required<br />
Zoning - Manufacturing<br />
M1-6<br />
10.0<br />
not required
Section 3
REVENUE<br />
Unit<br />
Basement Office<br />
Lease Expiration<br />
N/A<br />
Monthly Rental Income<br />
$1,200 / month<br />
Yearly Rental<br />
Income<br />
$14,400 / year<br />
101<br />
N/A<br />
$1,450 / month<br />
$17,400 / year<br />
102<br />
N/A<br />
$2,182 / month<br />
$26,184 / year<br />
103<br />
N/A<br />
$2,193 / month<br />
$26,316 / year<br />
104<br />
N/A<br />
$2,200 / month<br />
$26,400 / year<br />
105<br />
N/A<br />
$2,000 / month<br />
$24,000 / year<br />
106<br />
N/A<br />
$2,750 / month<br />
$33,000 / year<br />
107<br />
N/A<br />
$1,350 / month<br />
$16,200 / year<br />
201<br />
N/A<br />
$1,375 / month<br />
$16,500 / year<br />
202<br />
N/A<br />
$1,500 / month<br />
$18,000 / year<br />
203<br />
N/A<br />
$1,100 / month<br />
$13,200 / year<br />
204<br />
N/A<br />
$1,350 / month<br />
$16,200 / year<br />
205<br />
N/A<br />
$1,100 / month<br />
$13,200 / year<br />
206<br />
N/A<br />
$1,500 / month<br />
$18,000 / year<br />
207<br />
N/A<br />
$1,000 / month<br />
$12,000 / year<br />
301<br />
N/A<br />
$1,600 / month<br />
$19,200 / year<br />
302<br />
N/A<br />
$1,580 / month<br />
$18,960 / year<br />
303<br />
N/A<br />
$1,150 / month<br />
$13,800 / year<br />
304<br />
N/A<br />
$1,400 / month<br />
$16,800 / year<br />
305<br />
N/A<br />
$1,250 / month<br />
$15,000 / year<br />
306<br />
N/A<br />
$1,850 / month<br />
$22,200 / year<br />
307<br />
N/A<br />
$1,050 / month<br />
$12,600 / year<br />
Gross Annual Income<br />
$409,560 / year<br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Rental Income
REVENUE<br />
AIR-CONDITIONING<br />
HEATING<br />
Unit<br />
Number of<br />
units<br />
Monthly Cost of Air<br />
Conditioning<br />
Payment of 5 out<br />
of 12 months<br />
Monthly Cost of<br />
Heating<br />
Payment of 7 out of<br />
12 months<br />
101<br />
N/A<br />
$75 / month<br />
$900 / year<br />
102<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
103<br />
N/A<br />
$75 / month<br />
$900 / year<br />
104<br />
N/A<br />
$75 / month<br />
$900 / year<br />
105<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
106<br />
N/A<br />
$75 / month<br />
$900 / year<br />
107<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
201<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
202<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
203<br />
2<br />
$80 / month<br />
$400 / year<br />
$75 / month<br />
$900 / year<br />
204<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
205<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
206<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
207<br />
N/A<br />
$75 / month<br />
$900 / year<br />
301<br />
N/A<br />
$75 / month<br />
$900 / year<br />
302<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
303<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
304<br />
N/A<br />
$75 / month<br />
$900 / year<br />
305<br />
N/A<br />
$75 / month<br />
$900 / year<br />
306<br />
N/A<br />
$75 / month<br />
$900 / year<br />
307<br />
1<br />
$40 / month<br />
$200 / year<br />
$75 / month<br />
$900 / year<br />
Air-Condinditionar Income<br />
$2,600 / year<br />
Heating Income<br />
$18,900 / year<br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Rental Income – AC and<br />
Heating
REVENUE<br />
Type of Income<br />
Rental Income<br />
Air Conditioners<br />
Heating<br />
Gross Annual Income<br />
Annual Rent<br />
$409,560<br />
$2,600<br />
$18,900<br />
$431,060<br />
EXPENSES<br />
Real Estate Taxes<br />
$21,273<br />
Insurance<br />
$6,248<br />
Water & Sewer Charges<br />
$9,813<br />
Fuel<br />
$28,020<br />
Electricity (Common<br />
Areas)<br />
$3,531<br />
Repair & Maintenance<br />
$8,000<br />
Mgmt / Vacancy<br />
3.0%<br />
of Gross Annual Rent<br />
$12,482<br />
Total Operating Expenses<br />
$89,367<br />
Gross Annual Rent<br />
$431,060<br />
Less: Expenses<br />
$89,367<br />
Net Operating Income<br />
$341,693<br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Income and Expense<br />
Summary
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Violation Summary
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
ECB Violations
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
DOB Violations
Rental Income in Bushwick<br />
Several retail avenues point out different backgrounds.<br />
Knickerbocker Avenue remains the strongest commercial area in<br />
Bushwick, paying the highest rent in Bushwick. The Wyckoff<br />
Avenue gradually builds new condos, naturally brings more<br />
business. Broadway recovers past empty development sites.<br />
The apartments in Bushwick were mostly laid out as 2-bedroom railroad<br />
apartments from 1930’s. For more added values, buildings<br />
could include windows at middle of unit, moved bedrooms separate,<br />
and changing to 1- or 3-bedroom apartments with proper layouts.<br />
Opinion on Retail Rental Market<br />
Low<br />
High<br />
Retail Corridor - Knickerbocker Ave<br />
Myrtle Ave to Dekalb Ave $20 to $35 - $35 to $65<br />
Dekalb Ave to Starr St $12 to $18 - $18 to $25<br />
Retail Corridor - Broadway<br />
Flushing Ave to Myrtle Ave $18 to $25 - $25 to $55<br />
Myrtle Ave to Van Buren St $12 to $18 - $18 to $25<br />
Van Buren St Ave to Gates Ave $18 to $25 - $25 to $55<br />
Retail Corridor - Wyckoff Ave<br />
<strong>Hart</strong> St to Stanhope St $18 to $25 - $25 to $35<br />
Stanhope St to Myrtle Ave $12 to $18 - $18 to $25<br />
Opinion on Residential Rental Market<br />
Low High<br />
Studio Avg. Sq.Ft. 400 - 400<br />
Price Per Sq.Ft. $24 - $27<br />
Price Per Month $800 - $900<br />
Price Per Year $9,600 - $10,800<br />
1-Bedroom Avg. Sq.Ft. 550 - 550<br />
Price Per Sq.Ft. $23 - $26<br />
Price Per Month $1,050 - $1,200<br />
Price Per Year $12,600 - $14,400<br />
2-Bedroom Avg. Sq.Ft. 680 - 680<br />
Price Per Sq.Ft. $23 - $26<br />
Price Per Month $1,300 - $1,450<br />
Price Per Year $15,600 - $17,400<br />
3-Bedroom Avg. Sq.Ft. 825 - 825<br />
Price Per Sq.Ft. $22 - $26<br />
Price Per Month $1,500 - $1,800<br />
Price Per Year $18,000 - $21,600<br />
Loft Avg. Sq.Ft. 1000 - 1000<br />
Price Per Sq.Ft. $22 - $26<br />
Price Per Month $1,800 - $2,200<br />
Price Per Year $21,600 - $26,400<br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Rental Rates
Address:<br />
Block / Lot:<br />
Zoning:<br />
Lot Dims:<br />
Building Sq.Ft:<br />
Stories:<br />
Units:<br />
358 Grove <strong>Street</strong><br />
(between Wyckoff Ave & Myrtle Ave)<br />
3328 / 16<br />
C2-3 / R6<br />
200x100<br />
43,600 ft. (estimated)<br />
14<br />
59<br />
Unit # Bedrm /<br />
Bath<br />
Area per<br />
Unit<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Offering<br />
Price per<br />
Unit<br />
Price per<br />
Sq.Ft.<br />
Note<br />
2A 2 / 1 892 sf $432,620 $485<br />
2B 1 / 1 630 sf $305,550 $485<br />
2C 1 / 1 611 sf $296,335 $485<br />
2D 2 / 1 778 sf $377,330 $485<br />
2E 1 / 1 558 sf $270,630 $485<br />
3A 2 / 1 892 sf<br />
3B 1 / 1 630 sf $305,550 $485 (contract signed)<br />
3C 1 / 1 611 sf<br />
3D 2 / 1 778 sf $399,000 $513 (contract signed)<br />
3E 1 / 1 558 sf $270,630 $485 (contract signed)<br />
4A 2 / 1 892 sf<br />
4B 1 / 1 630 sf $305,550 $485<br />
4C 1 / 1 611 sf $323,730 $530<br />
4D 2 / 1 778 sf $405,945 $522 (contract signed)<br />
4E 1 / 1 558 sf $270,630 $485<br />
5A 2 / 1 892 sf<br />
5B 1 / 1 630 sf $315,000 $500<br />
5C 1 / 1 611 sf $324,654 $531<br />
5D 2 / 1 778 sf $520,174 $669<br />
5E 1 / 1 558 sf $279,000 $500 (contract signed)<br />
6A 2 / 1 892 sf $446,000 $500 (contract signed)<br />
6B 1 / 1 630 sf<br />
6C 1 / 1 611 sf $333,540 $546<br />
6D 2 / 1 778 sf $418,500 $538<br />
6E 1 / 1 558 sf $279,000 $500 (contract signed)<br />
7A 2 / 1 892 sf $446,000 $500 (contract signed)<br />
7B 1 / 1 630 sf $327,600 $520<br />
7C 1 / 1 611 sf $327,000 $535<br />
7D 2 / 1 778 sf $418,500 $538<br />
7E 1 / 1 558 sf $279,000 $500<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Unit # Bedrm /<br />
Bath<br />
Area per<br />
Unit<br />
Offering<br />
Price per<br />
Unit<br />
Condo Sales 2007-2008<br />
358 Grove <strong>Street</strong><br />
Price per<br />
Sq.Ft.<br />
Note<br />
8A 2 / 1 892 sf $446,000 $500 (contract signed)<br />
8B 1 / 1 630 sf $315,000 $500<br />
8C 1 / 1 611 sf $327,000 $535<br />
8D 2 / 1 778 sf $418,500 $538<br />
8E 1 / 1 558 sf $279,000 $500 (contract signed)<br />
9A 2 / 1 892 sf<br />
9B 1 / 1 630 sf $340,200 $540<br />
9C 1 / 1 611 sf<br />
9D 2 / 1 778 sf $443,610 $570<br />
9E 1 / 1 558 sf<br />
10A 2 / 1 892 sf<br />
10B 1 / 1 630 sf<br />
10C 1 / 1 611 sf<br />
10D 2 / 1 778 sf $447,795 $576<br />
10E 1 / 1 558 sf<br />
11A 2 / 1 892 sf $490,600 $550<br />
11B 1 / 1 630 sf $351,540 $558<br />
11C 1 / 1 611 sf $359,700 $589<br />
11D 2 / 1 778 sf $451,980 $581<br />
11E 1 / 1 558 sf<br />
12A 2 / 1 892 sf<br />
12B 1 / 1 630 sf<br />
12C 1 / 1 611 sf $369,510 $605<br />
12D 2 / 1 778 sf<br />
12E 1 / 1 558 sf $306,900 $550<br />
PHA 3 / 2 1,148 sf $686,233 Terrace (137 sf)<br />
PHB 2 / 2 854 sf<br />
PHC 2 / 2 791 sf $472,472 $597<br />
PHD 3 / 2 1,132 sf Terrace (137 sf)
Address:<br />
Block / Lot:<br />
Zoning:<br />
Bldg Dims:<br />
Building Area:<br />
Stories:<br />
Units:<br />
93-95 Wyckoff Avenue<br />
(between Suydam St & <strong>Hart</strong> St)<br />
3222 / 3<br />
R6<br />
25’ x ’100<br />
14,913 Sq.Ft.<br />
4<br />
10<br />
Unit #<br />
Baths<br />
Bedrms<br />
Total Area<br />
Type<br />
Sale Price<br />
Sale Price<br />
per Sq. Ft.<br />
Sale Date<br />
1<br />
-<br />
-<br />
5,113 Sq.Ft.<br />
Medical Space<br />
n/a<br />
n/a<br />
n/a<br />
1A<br />
3<br />
3<br />
1,370 Sq.Ft.<br />
Apt. with balcony<br />
$550,000<br />
$401<br />
3/27/2007<br />
2B<br />
1<br />
1<br />
540 Sq.Ft.<br />
Apt. with terrace<br />
$281,000<br />
$520<br />
7/2/2007<br />
2C<br />
1<br />
1<br />
520 Sq.Ft.<br />
Apt. with terrace<br />
$289,000<br />
$556<br />
9/7/2007<br />
3A<br />
2<br />
2<br />
884 Sq.Ft.<br />
Apt. with balcony<br />
n/a<br />
n/a<br />
n/a<br />
3B<br />
1<br />
1<br />
540 Sq.Ft.<br />
Apt. with balcony<br />
$260,000<br />
$481<br />
3/27/2007<br />
3C<br />
1<br />
1<br />
520 Sq.Ft.<br />
Apt. with balcony<br />
$265,000<br />
$510<br />
3/27/2007<br />
4A<br />
2<br />
2<br />
884 Sq.Ft.<br />
Apt. with balcony<br />
$399,000<br />
$451<br />
3/19/2007<br />
4B<br />
2<br />
2.5<br />
1,057 Sq.Ft.<br />
Apt. with balcony & terrace<br />
$470,000<br />
$445<br />
6/29/2007<br />
4C<br />
1<br />
1<br />
520 Sq.Ft.<br />
Apt. with balcony<br />
$250,000<br />
$481<br />
5/7/2007<br />
Average<br />
759 Sq.Ft.<br />
$345,500<br />
$481<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Condo Sales 2007<br />
93-95 Wyckoff Avenue
Address:<br />
Block / Lot:<br />
Zoning:<br />
Lot Dims:<br />
Building Area:<br />
Stories:<br />
Units:<br />
101 Wyckoff Avenue<br />
(corner at <strong>Hart</strong> <strong>Street</strong>)<br />
3238 / 7501<br />
R6<br />
89.1’ x 102.11’<br />
27,345 ft. (estimated)<br />
4<br />
32<br />
Unit # Baths Bedrms. Total Area Sales Price Sales Price<br />
per Sq.Ft.<br />
Sales Date<br />
Unit # Baths Bedrms. Total Area Sales Price Sales Price<br />
per Sq.Ft.<br />
Sales Date<br />
1A 1 1 499 Sq.Ft. $225,225 $451 3/7/2006<br />
1B 1 1 1,014 Sq.Ft. $404,564 $399 2/22/2006<br />
1C 2 1 1,127 Sq.Ft. $435,006 $386 3/2/2006<br />
1D 2 1 1,145 Sq.Ft. $428,704 $374 2/27/2006<br />
1E 2 Studio 932 Sq.Ft. $352,175 $378 4/25/2006<br />
1F 1 Studio 776 Sq.Ft. $342,495 $441 5/2/2006<br />
1G 1 1 771 Sq.Ft. $327,265 $424 3/9/2006<br />
1H 1 Artist Stu. 432 Sq.Ft. $125,000 $289 1/31/2007<br />
2A 1 1 548 Sq.Ft. $276,335 $504 3/14/2006<br />
2B 2 1 1,152 Sq.Ft. $501,824 $436 3/27/2006<br />
2C 2 1 1,127 Sq.Ft. $460,000 $408 3/9/2006<br />
2D 2 1 1,145 Sq.Ft. $472,307 $412 2/28/2006<br />
2E 2 Studio 932 Sq.Ft. $392,546 $421 3/24/2006<br />
2F 1 Studio 776 Sq.Ft. $348,650 $449 3/9/2006<br />
2G 1 1 771 Sq.Ft. $334,620 $434 5/24/2006<br />
4G 1 1 771 Sq.Ft. $407,274 $528 2/24/2006<br />
4H 1 Studio 432 Sq.Ft. $235,396 $545 2/22/2006<br />
2H 1 Artist Stu. 432 Sq.Ft. $149,000 $345 1/31/2007<br />
3A 1 1 548 Sq.Ft. $299,673 $547 2/21/2006<br />
3B 2 1 1,152 Sq.Ft. $515,000 $447 3/1/2006<br />
3C 2 1 1,127 Sq.Ft. $497,495 $441 3/3/2006<br />
3D 2 1 1,145 Sq.Ft. $502,311 $439 3/30/2006<br />
3E 2 Studio 932 Sq.Ft. $411,838 $442 2/22/2006<br />
3F 1 1 776 Sq.Ft. $368,877 $475 2/21/2006<br />
3G 1 1 771 Sq.Ft. $324,750 $421 3/9/2006<br />
3H 1 Artist Stu. 432 Sq.Ft. $178,194 $412 10/24/2006<br />
4A 1 1 548 Sq.Ft. $319,410 $583 2/21/2006<br />
4B 2 1 1,152 Sq.Ft. $560,038 $486 8/21/2006<br />
4C 2 1 1,127 Sq.Ft. $495,000 $439 2/10/2007<br />
4D 2 1 1,145 Sq.Ft. N/A N/A N/A<br />
4E 2 Studio 932 Sq.Ft. $425,880 $457 7/28/2006<br />
4F 1 1 776 Sq.Ft. $379,160 $489 2/24/2006<br />
Average 855 Sq.Ft. $370,839 $442<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Condo Sales 2006-2007<br />
101 Wyckoff Avenue
Address:<br />
Block / Lot:<br />
Zoning:<br />
Bldg Dims:<br />
Building Area:<br />
Stories:<br />
Units:<br />
979 Willoughby Avenue<br />
(corner with Evergreen Avenue)<br />
3184 / 1<br />
R6<br />
25’ x 100’<br />
12,128 Sq.Ft.<br />
4<br />
8<br />
Unit #<br />
Baths<br />
Bedrms<br />
Total Area<br />
Type<br />
Offering Price<br />
Offering Price /<br />
Sq.Ft.<br />
2A<br />
1<br />
1<br />
1,322 Sq.Ft.<br />
Apt. with pvt. balcony<br />
$499,000<br />
$377<br />
2B<br />
1<br />
1<br />
882 Sq.Ft.<br />
Apt. with balcony<br />
$399,000<br />
$452<br />
2C<br />
2<br />
1<br />
1,322 Sq.Ft.<br />
Apt. with pvt. balcony<br />
$499,000<br />
$377<br />
3A<br />
1<br />
1<br />
1,151 Sq.Ft.<br />
Apt. with pvt. balcony<br />
$465,000<br />
$404<br />
3B<br />
1<br />
1<br />
834 Sq.Ft.<br />
Apt. with balcony<br />
$399,000<br />
$478<br />
3C<br />
1<br />
2<br />
1,136 Sq.Ft.<br />
Apt. with pvt. balcony<br />
$465,000<br />
$409<br />
4A<br />
3<br />
2<br />
1,729 Sq.Ft.<br />
Apt. with 4 pvt. Terraces<br />
$668,000<br />
$386<br />
4B<br />
3<br />
2<br />
1,883 Sq.Ft.<br />
Apt. with 4 pvt. Terraces<br />
$668,000<br />
$355<br />
Average<br />
1,282 Sq.Ft.<br />
$507,750<br />
$405<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Condo Sales 2007 - Continue<br />
979 Willoughby
Address:<br />
Block / Lot:<br />
Zoning:<br />
Bldg Dims:<br />
Building Area:<br />
Stories:<br />
Units:<br />
768 <strong>Hart</strong> <strong>Street</strong><br />
(between Knickerbocker & Wilson)<br />
3235 / 15<br />
R6<br />
25’ x 60’<br />
4,500 sq.ft.<br />
3<br />
6<br />
Unit # Baths Bedrms. Total Area<br />
Sales Price Sales Price Sales Date<br />
per Sq.Ft.<br />
1 2 3 1,180 Sq.Ft. plus outdoor space $425,000 $360 12/14/2006<br />
2L 1 1 615 Sq.Ft. $249,000 $405 2/1/2007<br />
2R 1 2 615 Sq.Ft. $249,000 $405 1/4/2007<br />
3L 1 2 615 Sq.Ft. $269,000 $437 12/28/2006<br />
3R 1 2 615 Sq.Ft. $269,000 $437 12/21/2006<br />
Average $292,200 $409<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Condo Sales 2006-2007<br />
768 <strong>Hart</strong> <strong>Street</strong>
Address:<br />
Block / Lot:<br />
Zoning:<br />
Bldg Dims:<br />
Building Area:<br />
Stories:<br />
Units:<br />
1271 Decatur <strong>Street</strong><br />
(between Knickerbocker & Wilson)<br />
3430 / 45<br />
R6<br />
25’ x 63’<br />
4,725 sq.ft.<br />
3<br />
6<br />
Unit # Baths Bedrms Total Area Suggest Price Suggest Price per<br />
Sq.Ft.<br />
1R 1 1 714 Sq.Ft. 1st Fl (767 Sq.Ft. Celler) $375,000 $525<br />
1L 1 1 730 Sq.Ft. 1st Fl (497 Sq.Ft. Celler) $375,000 $514<br />
2R 1 1 725 Sq.Ft. $249,000 $343<br />
2L 1 1 717 Sq.Ft. $249,000 $347<br />
3R 1 1 725 Sq.Ft. $249,000 $343<br />
3L 1 1 717 Sq.Ft. $249,000 $347<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Edward T. McLaughlin, Director of Sales<br />
Tel: 718-307-6547 / Fax: 718-238-6091<br />
Email: emclaughlin@masseyknakal.com<br />
Condo Sales 2007 - Continue<br />
1271 Decatur <strong>Street</strong>
Thursday, April 19, 2007<br />
Bushwick Buzzing, but Not Quite Ready for Prime Time Neighborhoods<br />
By JULIA VITULLO-MARTIN<br />
April 19, 2007 -- "I love the J train," Loriann Girvan said, gesturing<br />
out her <strong>Brooklyn</strong> apartment's window at the train thundering by<br />
overhead. "I love going over the bridge every day into Manhattan. It<br />
soothes me."<br />
Like the J train itself, which is thrilling but far from lovely, Ms.<br />
Girvan's neighborhood, Bushwick, is something of an acquired taste.<br />
Despite being repeatedly proclaimed as the city's newest hip<br />
neighborhood, it still looks disorderly and a little dejected.<br />
Many of Bushwick's older buildings have not yet been restored, and<br />
a number of its new buildings are squat, homely concrete or brick<br />
structures set back from the street to accommodate car pads — thus<br />
breaking the street front that could give blocks some sense of unity.<br />
The neighborhood also has more than its share of subsidized<br />
housing, both large, traditional public housing projects and more<br />
sensible, smaller projects.<br />
Restaurants are few and boutiques almost nonexistent. And while<br />
Knickerbocker Avenue's commercial strip is lively and crowded,<br />
packed with hair salons, check-cashing services, 99-cent stores,<br />
hardware stores, and lower-end clothing and shoe stores, Broadway,<br />
the main commercial street beneath the elevated train, looks forlorn,<br />
with enough empty storefronts to deter walkers.<br />
In other words, Bushwick still bears some scars from the blackout<br />
riots of July 1997, when looters burned whole sections to the ground.<br />
(One reason Knickerbocker may be stronger today than Broadway is<br />
that it lost fewer stores to arson decades ago.)<br />
But the neighborhood has one important advantage: It's relatively<br />
inexpensive. Ms. Girvan's 47-unit building, a former Buy-Rite whose<br />
owner converted it to residential in 2001 with financing from the<br />
nonprofit Community Preservation Corporation, offers oneand twobedroom<br />
56 West market-rate 126th rental <strong>Street</strong> apartments for between $1,100 and<br />
$1,500 a month. "I looked at many different neighborhoods before I<br />
1236 Ocean Parkway<br />
moved here twoand-a-half years ago," Ms. Girvan said. "I wanted<br />
value for my money and a comfortable commute."<br />
That commute is reasonably good. When its service isn't being disrupted by<br />
construction or police incidents, the J train takes about 25 minutes to reach<br />
Manhattan. Bushwick is also served by the M line and the L train.<br />
Still, while Ms. Girvan gets value, she doesn't receive all the services familiar<br />
to Manhattanites — no cable television, for example, although her building is<br />
one of the few in the neighborhood eligible for FreshDirect deliveries. But<br />
she's hopeful about the future. "People who don't know there's a J train or<br />
how to pronounce Kosciusko are moving in," she said with a sigh. "But that's<br />
okay, because they'll bring the amenities we need with them."<br />
The neighborhood is bounded by Williamsburg to the northwest, Ridgewood<br />
to the northeast, Bedford-Stuyvesant to the southwest, and various<br />
cemeteries to the southeast. But with the exception of the cemeteries,<br />
Bushwick's boundaries are unclear and in constant dispute. Some new loft<br />
dwellers in East Williamsburg, for example, like to claim they live in<br />
Bushwick, Ms. Girvan said, because Bushwick is now considered edgier. On<br />
the other hand, the developer of the Opera House lofts on Arion Place<br />
marketed his property as East Williamsburg.<br />
Corcoran broker Tom Le said he believes that Bushwick is a good alternative<br />
to Bed-Stuy or the more established neighborhoods to the west, where half a<br />
million dollars won't buy much. But a half-million will easily purchase a twobedroom<br />
condo in a renovated warehouse in Bushwick, he said, with about<br />
$100,000 in change left over. Sale prices hover between $400 and $500 a<br />
square foot, depending on amenities.<br />
Mr. Le noted that the neighborhood has two distinct markets: the East<br />
Williamsburg-Bushwick area, which is "desolate, treeless, and being<br />
converted to condo warehouses," and the "Knickerbocker side streets of<br />
tree-lined, beautiful row houses." (Bushwick's original name, Boswijck,<br />
means "a little town in the woods" in Dutch, and it was named for its trees.)<br />
More and more traditional homeowners are arriving in the latter area,<br />
attracted by reasonable prices for houses. "A typical twofamily, three-story<br />
townhouse, some with exquisite detail, will go from $600,000 up," Mr. Le<br />
said.
Thursday, April 19, 2007<br />
Bushwick Buzzing, but Not Quite Ready for Prime Time Neighborhoods (page 2)<br />
By JULIA VITULLO-MARTIN<br />
The "younger crowd" is moving into the other side of Bushwick,<br />
close to the Morgan Avenue L stop, where illegal residential lofts<br />
abound (which Mr. Le does not handle). Decayed-looking<br />
19thcentury warehouses and factories have banners advertising<br />
lofts for rent, though the phone numbers listed yield only answering<br />
machines. "You have to know somebody to get the real phone<br />
number," one young resident, who asked not to be identified, said.<br />
"We're supposed to be commercial artists, not residential tenants."<br />
The new residents have brought trendy restaurants and bars in<br />
their wake, most famously the Life Café and the NorthEast<br />
Kingdom. They're also patronizing some of the businesses on<br />
Broadway, such as the hip music venue goodbyeblue-monday,<br />
right around the corner from Ms. Girvan.<br />
The bar's owner, Steve Trimboli, who moved to Bushwick in 2000<br />
after losing his space in Hoboken, N.J., to "million-dollar designer<br />
condo lofts," said he is "beginning to get a small steady regular<br />
clientele" from the immediate neighborhood as well as the outer<br />
edges of Bushwick. But he added, a little sadly: "The only reason<br />
I'm still in business is that people are coming from other areas.<br />
Williamsburg is gentrified and it may as well be the East Village,<br />
which is now the West Village. As a kid I went to Alphabet City,<br />
where you maybe were taking your life in your hands. That's what<br />
Williamsburg was 15 years ago, and that's maybe what this place is<br />
now. People like to go to the Wyckoff stop on the L, where there's<br />
graffiti like they've never seen before."<br />
Violent crime in the 83rd Precinct, which includes Bushwick, has<br />
decreased 73% since 1993. But while robberies, felonious assaults,<br />
and burglaries are all down from last year, rapes are up, with 10 so<br />
far this year, in contrast to seven last year. Quality-oflife offenses<br />
are an obvious problem — plenty of graffiti, litter, dirt, and noise. At<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
the same time, Mr. Trimboli's Wyckoff stop is seeing a new<br />
sprinkling of restaurants and retail. The owners of NorthEast have<br />
opened a coffee shop, Wykoff Star, perhaps signaling a trend.<br />
If so, it's a trend full of ambivalence for some Bushwickers. Curbed, which<br />
calls itself "the most-trafficked neighborhood and real-estate weblog on the<br />
web," is carrying an animated dispute about a 185-unit condo development<br />
at 358 Grove St., not far from the Myrtle Avenue L stop. Apartments range<br />
from between $270,000 for a studio and $682,233 for a three-bedroom "with<br />
breathtaking views of Manhattan."<br />
One correspondent, RidgeHooder, calls it a "hideously outsized" brown<br />
tower, and another adds, "This area will be gentrified the 5th of NEVER." But<br />
a more subdued contributor writes, "At these prices, these things will sell<br />
quickly I assure you." Indeed, another says, "Build the residences and the<br />
businesses will come."<br />
That's a perennial fact of New York real estate, and it still may work for<br />
Bushwick.
Thursday, April 19, 2007<br />
'WICK-ED COOL<br />
CHIC, AFFORDABLE BUILDINGS ARE ON THE RISE IN<br />
BUSHWICK, BROOKLYN<br />
By ADAM BONISLAWSKI<br />
April 19, 2007 -- A FEW years back, the idea of new condo<br />
construction in <strong>Brooklyn</strong>’s Bushwick neighborhood wasn’t exactly<br />
an easy sell.<br />
"I remember one broker," says Prudential Douglas Elliman’s Lisa<br />
Maysonet. "He sat at the table banging his fist, asking me who did I<br />
think I was, telling me that I was never going to get $350 a square<br />
foot in Bushwick that they weren’t even getting $350 a square foot<br />
in East Williamsburg."<br />
As it turns out, that fist-banging broker was right. Maysonet’s<br />
project at 101 Wyckoff Ave., just off the Dekalb L stop (seven stops<br />
past Williamsburg’s Bedford stop) didn’t get $350 a foot. It got<br />
$500.<br />
More than 800 people put their names on the waiting list for one of<br />
the loft building’s 32 apartments. Within six weeks of opening for<br />
sales in September of last year, the now-sold-out project had found<br />
buyers for 75 percent of its units.<br />
All the same, it’s understandable that Maysonet’s vision for<br />
Bushwick would be greeted with an initial dose of skepticism. After<br />
all, this <strong>Brooklyn</strong> area has never been exactly what you’d call a<br />
destination neighborhood.<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
Yes, space-hungry artists and your more pioneering hipster types<br />
have been quietly carving out niches there for years, but new condo<br />
construction in the area was, until recently, all but unheard of.<br />
Today, though, new condos are rising throughout Bushwick.<br />
Vintage Builders just completed an eight-unit building at 979<br />
Willoughby St., with one-bedrooms starting at $465,000 and twobedroom<br />
triplexes starting at $688,000. All units include garages.<br />
Century 21 <strong>NY</strong>Metro has the listings.<br />
In addition to 101 Wyckoff and 768 <strong>Hart</strong> St. (a six-unit walk-up<br />
with three-bedrooms going for $449,000), Maysonet represents<br />
new buildings at 93-95 Wyckoff (with one-bedrooms starting at<br />
$289,000) and 1271 Decatur St. (where one-bedrooms are<br />
available for $299,000). Four other area condo projects she plans<br />
to represent are still in the approval stages.<br />
David Maundrell, president of Aptsandlofts.com, has also seen<br />
the condo wave make its way into Bushwick.<br />
"A lot of people are still getting their feet wet," he says. "There are<br />
a lot of landlords out there who own a lot of property who are<br />
doing rentals right now. But as the leases expire, they may turn<br />
them into condos after seeing how things go. You're going to start<br />
seeing numerous buildings on the market all at once."<br />
Maundrell first entered the Bushwick condo market by<br />
representing a six-unit building at 1265 Decatur. With units<br />
ranging from $239,000 (for a 660-square-foot one-bedroom with a<br />
den) to $349,000 (for an 1,100-square-foot one-bedroom duplex<br />
with a den, garden and cellar), the building sold out in about a<br />
month.
2 ND PAGE, NEW YORK POST, Thursday, April 19, 2007<br />
He's now working on several other condos in the neighborhood,<br />
among them another six-unit building at 241 Troutman St., with twobedroom<br />
units and 1,000-square-foot-lofts ranging from $305,000 to<br />
$459,000, and a building at 1060 Putnam Ave., with two-bedroom<br />
units starting at $249,000.<br />
"You have a mixture of people coming here," Maundrell says. "It's<br />
attracting people from Clinton Hill and Bed-Stuy. You have people<br />
moving from Ridgewood, Queens. It's attracting people who are<br />
looking in Williamsburg and Greenpoint but just can't find enough<br />
space for the dollar amount."<br />
For fashion designer Glenna Dilone, who moved last year to a loft<br />
apartment at 101 Wyckoff that she shares with her husband and infant<br />
son, Bushwick simply offered the best value in the borough.<br />
"We searched <strong>Brooklyn</strong> high and low," she says, "But for the money,<br />
this area had the most to offer."<br />
And, as stores and restaurants open to serve recent arrivals like<br />
Dilone, the neighborhood is becoming even more inviting.<br />
"Five years ago, it was like backpacking in New York City," says Abby<br />
Crain, a dancer who lives off the Morgan L stop with her husband and<br />
21/2-year-old daughter. "You had to pack all your groceries in<br />
because once you got here there was nothing. That's changed.<br />
There's a place to get groceries now, a good coffee shop, a great bar.<br />
"<br />
Dilone says she's noticed "restaurants popping up, streets getting<br />
facelifts, stores getting new awnings. It's becoming a friendlier<br />
neighborhood."<br />
Longtime Bushwick resident Andy Belez remembers when Maria<br />
Hernandez Park, just down the street from Dilone's new home, was<br />
essentially an open-air drug market. Now the park, which received a<br />
$1.9 million face-lift in 2003, is filled with ballplayers and families. Just<br />
south of Maria Hernandez, Knickerbocker Avenue has turned into a<br />
56 thriving West retail 126th strip. <strong>Street</strong><br />
1236 Ocean Parkway<br />
"The area has changed a lot," Belez says. "People are starting to fix<br />
up buildings. People from the city are moving to the area."<br />
And instead of attracting only artists, Bushwick is drawing in<br />
another sort of customer - what Maysonet calls "artsy yuppies."<br />
"They're artsy in look and feel," she says, "but not in occupation."<br />
Len Moroz, co-owner of Potion Café in the McKibben Lofts<br />
building near the border of Bushwick and East Williamsburg,<br />
agrees.<br />
"Prices have gone up in the area," he notes, "so you're seeing<br />
less artists and more people with jobs that pay for real."<br />
Nick Mastropierro, a broker with Fillmore Real Estate, is seeing<br />
more interest from investors looking to buy multi-family buildings<br />
in Bushwick.<br />
"The investor is always the savviest buyer because it's a<br />
business," he says. "And the investors have heard enough of the<br />
vibe of what's happening here and are starting to get on board.<br />
"They definitely want to be here, whereas three or four years<br />
ago, they wouldn't have even thought about it."<br />
None of this is to say, of course, that the neighborhood is about<br />
to turn into the West Village. As Maysonet admits, Bushwick still<br />
appeals mostly to those with an appreciation - some might say<br />
tolerance - for the gritty side of city life.<br />
"Some people, you could give them an apartment for free and<br />
they're still not going to live here," she says. "They still have to<br />
really like this kind of gentrifying neighborhood."<br />
For those who do, though, Bushwick represents a chance to get<br />
in early on an area that looks to be on the rise. Low prices, easy<br />
access to the city on the L train, new stores and apartments and<br />
eateries opening - what's an urban pioneer not to love?<br />
"It's what Williamsburg was in the '90s," Moroz says. "It's what<br />
SoHo was in the '80s."<br />
"There's a lot of potential," Dilone says. "It keeps getting better<br />
and better."
BUSHWICK TOWNSHIP<br />
Four Villages<br />
From Wikipedia, the free encyclopedia<br />
In 1638, the Dutch West India Company secured a deed from the local Lenape people for the Bushwick area, and Peter Stuyvesant, chartered the area<br />
in 1661, naming it "Boswijck," meaning "little town in the woods" or "Heavy Woods" in 17th Century Dutch[1]. [1] Its area included the modern day<br />
communities of Bushwick, Williamsburg, and Greenpoint. Bushwick was the last of the original six Dutch towns of <strong>Brooklyn</strong> to be established within New<br />
Netherland.<br />
The community was settled, though unchartered, on February 16, 1660 on a plot of land between the Bushwick and Newtown Creeks[1] by fourteen<br />
French and Huguenot settlers, a Dutch translator named Peter Jan De Witt[4], and Franciscus the Negro, one of the original eleven slaves brought to<br />
New Netherland who had worked his way to freedom.[5][6]. The group centered their settlement around a church located near today's Bushwick and<br />
Metropolitan Avenues. The major thoroughfare was Woodpoint road, which allowed farmers to bring their goods to the town dock. [2] This original<br />
settlement came to be known as Het Dorp by the Dutch, and, later, Bushwick Green by the British.<br />
At the turn of the 19th century, Bushwick consisted of four villages, Green Point, Bushwick Shore[7], later to be known as Williamsburg, Bushwick<br />
Green, and Bushwick Crossroads, at the spot today's Bushwick Avenue turns southeast at Flushing Avenue.[8]. The English would take over the six<br />
towns three years later and unite the towns under Kings County in 1683.<br />
Bushwick's first major expansion occurred after it annexed The New Lots of Bushwick, a hilly upland originally claimed by the Native Americans in the<br />
first treaties they signed with European colonists providing the settlers rights to the lowland on the water. After the second war between the natives and<br />
the settlers broke out, the natives fled, leaving the area to be divided among the six towns in Kings County. Bushwick had the prime location to absorb<br />
their new tract of land in a contiguous fashion. New Bushwick Lane (Evergreen Ave), a former native American trail, was a key thoroughfare to access<br />
this new tract suitable mostly for potato and cabbage agriculture. [3] This area is bound roughly by Flushing Avenue to the north, and Evergreen<br />
Cemetery to the south.<br />
In the 1850s, the New Lots of Bushwick area began to develop. References to the town of Bowronville, a new neighborhood contained within the area<br />
south of Lafayette Ave and Stanhope <strong>Street</strong> begin to appear dating to the 1850's.<br />
Modern flood map showing historical<br />
villages and modern thoroughfares<br />
Land annexation<br />
Modern flood map showing historical villages and modern thoroughfares<br />
Bushwick's first major expansion occurred after it annexed The New Lots of Bushwick, a hilly upland<br />
originally claimed by the Native Americans in the first treaties they signed with European colonists<br />
providing the settlers rights to the lowland on the water. After the second war between the natives and the<br />
settlers broke out, the natives fled, leaving the area to be divided among the six towns in Kings County.<br />
Bushwick had the prime location to absorb their new tract of land in a contiguous fashion. New Bushwick<br />
Lane (Evergreen Ave), a former native American trail, was a key thoroughfare to access this new tract<br />
suitable mostly for potato and cabbage agriculture. [3] This area is bound roughly by Flushing Avenue to<br />
the north, and Evergreen Cemetery to the south.<br />
In the 1850s, the New Lots of Bushwick area began to develop. References to the town of Bowronville, a<br />
new neighborhood contained within the area south of Lafayette Ave and Stanhope <strong>Street</strong> begin to appear<br />
dating to the 1850's.
Bushwick Shore and Williamsburgh<br />
From Wikipedia, the free encyclopedia<br />
The area known as Bushwick Shore was so called for about 140 years. Bushwick residents called Bushwick Shore "the Strand," another term for<br />
"beach" [6]. Bushwick Creek, in the north, and Cripplebush, a region of thick, boggy shrubland extending from Wallabout Creek to Newtown Creek, in<br />
the south and east, cut Bushwick Shore from the other villages in Bushwick. Farmers and gardeners from the other Bushwick villages sent their goods<br />
to Bushwick Shore to be ferried to New York City for sale via a market at present day Grand St. Bushwick Shore's favorable location close to New York<br />
City lead to the creation of several farming developments. Originally a 13acre development within Bushwick Shore, Williamsburgh rapidly expanded<br />
during the first half of the nineteenth century and eventually seceded from Bushwick to form its own independent city. [7]<br />
Early Industry<br />
When Bushwick was founded, it was primarily an area for farming food and tobacco. As <strong>Brooklyn</strong> and New York City grew, factories that manufactured<br />
sugar, oil, and chemicals were built. The inventor Peter Cooper built a glue manufacturing plant, his first factory, in Bushwick. Immigrants from western<br />
Europe joined the original Dutch settlers. The Bushwick Chemical Works, at Metropolitan and Grand Avenues on the English Kills channel, was<br />
another early industry among the lime, plaster, and brick works, coal yards, and other factories which developed along English Kills, which was<br />
dredged and made an important commercial waterway. [8]. In October, 1867, the American Institute awarded The Bushwick Chemical Works the first<br />
premium for commercial acids of greatest purity and strength [9]. The Bushwick Glass Company, later to be known as Brookfield glass company<br />
established itself in 1869, when a local brewer sold it to James Brookfield [10]. The Bushwick Glass Company made a variety both bottle and jars.<br />
Around the same time, in 1868, the Long Island Rail Road built the from its hub in Jamaica via Maspeth to Bushwick Terminal at the intersection of<br />
Montrose and Bushwick Avenues [11], allowing easy movement of passengers, raw materials, and finished goods.<br />
In the 1840s and 1850s, a majority of the immigrants were German, which became the dominant population. Bushwick established a considerable<br />
brewery industry, including "Brewer's Row": 14 breweries operating in a 14 block area by 1890. [9] Thus, Bushwick was dubbed the "beer capital of the<br />
Northeast." As late as 1883, Bushwick maintained open farming land east of Flushing Avenue. [10] . In fact, a synergy developed between the brewers<br />
and the farmers during this period, as the dairy farmers collected spent grain and hops for cow feed. The dairy farmers sold the milk, and other dairy<br />
products, to consumers in <strong>Brooklyn</strong>. Both industries supported blacksmiths, wheelwrights, and feed stores along Flushing Avenue. [11]<br />
<strong>Street</strong>car Suburb<br />
The first elevated railway in <strong>Brooklyn</strong>, known as the Lexington Avenue Elevated, opened in 1885. Its eastern terminus was at the edge of Bushwick, at<br />
Gates Avenue and Broadway.[12] This line was extended southeastward into East New York shortly thereafter. By the end of 1889, the Broadway<br />
Elevated and the Myrtle Avenue Elevated were completed, enabling easier access to Downtown <strong>Brooklyn</strong> and Manhattan and the rapid residential<br />
development of Bushwick from farmland.<br />
With the success of the brewery industry and the presence of the Els, another wave of European immigrants<br />
settled in the neighborhood. Also, parts of Bushwick became affluent. Brewery owners and doctors commissioned<br />
mansions along Bushwick and Irving Avenues at the turn of the 20th century. New York mayor John Francis<br />
Hylan kept a townhouse on Bushwick Avenue during this period. [12] . Bushwick homes were designed in the<br />
Italianate, Neo Greco, Romanesque Revival, and Queen Anne styles by well known architects. Bushwick was a<br />
center of culture with several Vaudeville era playhouses, including the Amphion Theatre, the nation's first theatre<br />
with electric lighting. [13] The wealth of the neighborhood peaked between World War I and World War II, even<br />
56 West 126th <strong>Street</strong><br />
1236 Ocean Parkway<br />
when events such as Prohibition and the Great Depression were taking place. After the WWI, the German<br />
enclave was steadily replaced by a significant proportion of Italian American. By 1<strong>950</strong> Bushwick was one of<br />
<strong>Brooklyn</strong>'s largest Italian American neighborhoods, although some GermanAmericans remained. [13]<br />
Bushwick Branch of LIRR<br />
still carries some freight
From Wikipedia, the free encyclopedia<br />
Side street south of Flushing Ave.<br />
1<strong>950</strong>s, 1960s, and 1970s: White Flight and Economic Depression<br />
Beginning in the mid1<strong>950</strong>s and particularly in the 1960s, poor working class African Americans and Puerto Rican migrants began to move into<br />
Bushwick. [14] Small apartment buildings were built to accommodate the incoming residents. The change in demographics coincided with changes in<br />
the local economy. At the same time, locally rising energy costs, advances in transportation, and the invention of the steel can encouraged beer<br />
companies to move out of New York City. As the breweries closed, the neighborhood deteriorated along with much of <strong>Brooklyn</strong> and New York City.<br />
Discussions of urban renewal took place in the 1960s, but never materialized. In 1960 Bushwick was 70% white; by 1977 it was over 70% Black and<br />
Puerto Rican (Goodman 180). The U.S. Census records that it went from almost 90% white in 1960 to less than 40% in 1970. [15] According to the New<br />
York Times, "In a fiveyear period in the late 1960's and early 70's, the Bushwick neighborhood of <strong>Brooklyn</strong> was transformed from a neatly maintained<br />
community of wood houses into what often approached a no man's land of abandoned buildings, empty lots, drugs and arson." [16] One out of every 8<br />
buildings was damaged or destroyed by fire every year from 1969 to 1977 (Goodman 122).<br />
Blackout: Riots and Looting<br />
On the night of July 13, 1977, a major blackout occurred in New York City. Arson, looting, and vandalism followed<br />
in low income neighborhoods across the city. Bushwick, however, saw some of the most devastating damages<br />
and losses. While local owners in the predominantly Puerto Rican Knickerbocker Avenue and Graham Avenue<br />
shopping districts were able to defend their stores with force, suburban owners with stores on the Broadway<br />
shopping district saw their shops looted and burned. Twentyseven stores, some of which were of , along<br />
Broadway had burned (Goodman 104). Looters (and residents who bought from looters) saw the blackout as an<br />
opportunity to get what they otherwise could not afford. Fires spread to many residential buildings as well. After<br />
the riots were over and the fires were put out, residents saw "some streets that looked like <strong>Brooklyn</strong> Heights, and<br />
others that looked like Dresden in 1945" (Goodman 181): unsafe dwellings and empty lots among surviving<br />
buildings. Broadway business space had a 43% Vacancy rate in the wake of the riots. [17]<br />
Side street south of Flushing Ave.<br />
1980s and 1990s: Blight and Poverty<br />
Bushwick was left with a lack of both retail stores and housing. After the blackout, residents who could afford to leave abandoned the area. But new<br />
immigrants were coming into the area during the late 1970s and early 1980s, many of whom were from the Dominican Republic. However, apartment<br />
renovation and new construction did not keep pace with the demolition of unsafe buildings, forcing overcrowded conditions at first. As buildings came<br />
down, the vacant lots made parts of the neighborhood look and feel desolate, and more residents left. The neighborhood was a hotbed of poverty and<br />
crime through the 1980s. During this period, the Knickerbocker Ave shopping district was nicknamed "The Well" for its seemingly unending supply of<br />
drugs.[14] In the 1990s it remained a poor and relatively dangerous area, with 77 murders, 80 rapes, and 2,242 robberies in 1990.[15]
2000s A Tale of Two Bushwicks<br />
From Wikipedia, the free encyclopedia<br />
Spanish Barrio: Rebuilt on the Ashes<br />
Many social problems associated with poverty from crime to drug addiction have plagued the area for some time. Despite crime declines versus their peaks<br />
during the crack and heroin epidemics violent crime continues to be a serious problem in the community. [15] Bushwick has significantly higher drop out<br />
rates and incidents of violence in it's schools.[16] Students must pass through metal detectors and swipe ID cards to enter the buildings. Reminiscent a<br />
prison environment which many feel encourages bad behavior. Other problems in local schools include low test scores and high truancy rates. Drug<br />
addiction is also a serious problem in the community. Due to the lucrative drug trade in the area many addicted reside in the community. Peer pressure<br />
among children who come from broken homes contributes to the high rate of usage. Many households in the area are headed by a single mother which<br />
contributes to the high poverty rate.[17] Many of whom had their children at a very young age and unfortunately could not provide for their children.[18] Many<br />
of the families living in Bushwick have been in poverty for generations. The incarceration rate in the area is also very high.[19] Many if not most males in the<br />
community have been arrested at some point in their lives. [20] This has a direct correlation to aggressive policing tactics including "sweeps" due to the<br />
area's high crime rate. Bushwick is home to a significant number of inmates currently held in New York state prison and jail facilities. In more recent years<br />
homelessness has become an ever worsening problem in Bushwick due to rising rents and a shortage of affordable housing. Many families have had to<br />
double or triple up to a single apartment. Others have relocated to either other low income neighborhoods in <strong>NY</strong>C or have left the city. Finally those not able<br />
to leave must stay in homeless shelters or out on the streets. Living cost, especially housing, has only risen in recent years.<br />
Cheap Space for Hipsters: Rebirth and Gentrification<br />
In the 2000s, in the wake of lower crime rates citywide and a shortage of cheap housing in "hip" neighborhoods such as Williamsburg, Greenpoint, and<br />
Gowanus, a new influx of hipsters and yuppies moved into convertedwarehouse lofts, brownstones, and other renovated buildings. And, while murders and<br />
car thefts are higher in the 83rd precinct now than they were to start the decade[15], property values are increasing from speculation, and gentrification is<br />
beginning to be noticed by the community. Bushwick's 83d Precinct has a similar crime rate to neighboring Williamsburg's 90th precinct. [21] Residents of<br />
the former artists colony in Gowanus are already making plans for moving to Bushwick.[22] Nightlife for hipsters remains a problem, and, outside a few<br />
places on Wyckoff Ave by Jefferson <strong>Street</strong>, they will need to commute to Williamsburg, Greenpoint, Manhattan for their own brand of excitement. [18]<br />
Ironically, hipsters and yuppies are moving to the area because of its gritty pregentrified ambiance. [19]<br />
Signs of Gentrification and Its Effects on the Community<br />
Property values in Bushwick have climbed reflecting the rest of the city and the metro area due to a housing shortage. In recent years some of those priced<br />
out of Manhattan or even Williamsburg and Greenpoint have begun to look at Bushwick as an up and coming area. This is primarily due to the<br />
neighborhoods proximity to Manhattan and mass transit provided by a subway and an elevated line. Many of these individuals, mostly White nonHispanic<br />
young professionals, have settled in what is known as East Williamsburg in formally vacant warehouses converted into worklive spaces or lofts. In more<br />
recent years there has been an increase in market rate housing including luxury condos and coops. At the same time with this growth in market rate<br />
construction there has been been a shortage of affordable housing. Despite numerous social problems and a deeply entrenched low income population,<br />
many involved in real estate have attempted to generate hype hoping for a significant wave of gentrification. This has created tension in the community and<br />
many residents have begun to wise up to the changes. While more market rate housing is being built in the area, the prices do not reflect the economic<br />
makeup of the community. Many believe those individuals involved in real estate in Bushwick hope to displace long time residents, most of which are of the<br />
low income strata.<br />
Community Organizing in Bushwick<br />
Bushwick also has a strong history of community organizing, most notably with the organization . Make the Road by Walking was founded in 1997 in a<br />
56 West 126th <strong>Street</strong><br />
Bushwick church basement by local residents to address the potentially devastating effects of welfare reform on America's poor and immigrant communities.<br />
While initially 1236 focusing Ocean on organizing Parkway immigrant welfare recipients, they soon expanded their focus to organizing to combat systemic economic and political<br />
marginalization of Bushwick residents. They have been largely successful, with victories including helping workers organize several union shops on<br />
Knickerbocker Ave. and getting translation services into hospitals. However, Bushwick's current spate of gentrification is pushing this group aside.