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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.

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