Source: Google Maps
One of Southern Brooklyn’s nicer little commercial developments, the building at 1214 Avenue M sold for $6.55 million late last month, city records show.
The six-story building features 31,520 square feet. The first floor is all retail while the remaining floors are for 12 office units – as much as they might look like rather nice apartments.
The building was developed from an existing building in 2003.
Source: Rich Caplan/nestseekers.com
An Ocean Parkway home made headlines yesterday when it hit the market for $14 million – giving it the heftiest price tag for a single-family home in all of Brooklyn.
At 2134 Ocean Parkway, this five bedroom, 9,200-square-foot home boasts an elevator, two kitchens, a master bedroom with balcony and French doors, art-nouveau staircase, and is “touched with limestone accents and finished in two-tone stucco and an authentic green terracotta style Spanish roof,” according to the listing.
A family has owned the home since 1992 and decided to put it on the market – furnished or unfurnished – since their children have grown up and moved out, according to The Real Deal.
The property’s agent, Ryan Serhant, told the New York Daily News that picking a price was a difficult task, with few known comparables in the area’s Syrian Sephardic community.
“This area trades mostly within its own community which brought the prices to where they are,” Serhant said.
The Gravesend area and its Sephardic community have been nabbing top slots for residential real estate pricetags for several years now. In 2009, 2111 East 2nd Street sold for $10.26 million, spurring Brownstoner to scoff, “Holy moly! … It’s definitely the biggest sale of this year, and probably one of the top 10 or so biggest house sales in the borough ever.” A home around the corner at 450 Avenue S sold in 2011 for $10.25 million, just shy of the $11 million sale of 451 Avenue S across the street in 2005.
Photos: Rich Caplan/nestseekers.com
Photo by Erica Sherman
More than one year after Pathmark made its last sale from its 3795 Nostrand Avenue location, the building remains vacant, political leadership to bring a new supermarket to the site appears to have dried up, and residents are fuming about the lack of nearby options to shop for their families.
The business closed its doors for good on April 15, 2011, as the parent company, A&P, filed for bankruptcy and closed numerous locations across the nation. More than 100 employees were put out of work by the closing, and it eliminated the only supermarket within walking distance for many nearby residents.
Find out what the pols are up to, and what the property owner has to say.
Source: Ian Muttoo/Flickr
Telling Tips is a series of articles from local experts to help you save money, make better decisions and plan for a better future.
In New York, there is what seems an almost endless debate between buying and renting a home; between owning a piece of property that you can say is yours, versus paying someone for the privilege of living in theirs.
There are pros and cons to both approaches, but if you’re going to go along with the theory that buying is the best way to spend your money, then you better know what’s in the Contract of Sale. And if you’re going to want to know what’s in the Contract of Sale, you better have a clear understanding with your attorney.
Far too often I find clients are simply ready to sign on the dotted line. If they’re buying a Dyson on Home Shopping, they’re certainly checking out the warranty to see what it covers. But if they’re putting down hundreds of thousands of dollars, many of them simply trust that the lawyer has done what the lawyer should do, and they sign away.
This, my friends, is a terrible mistake. A client should always know (and in my opinion has the responsibility to know) what it is that they’re agreeing to.
“But a lawyer should tell the client what they need to know when they buy real estate,” you say. Granted. Yes. But I find that sometimes clients will feel too intimidated to ask, and it’s to their detriment.
Here are some of the common questions you should ask your attorney if you’re buying some real estate in New York:
Owners of the three-story development at 1810 Voorhies Avenue have wrapped up construction and are finalizing its roster of tenants, the building’s manager told Sheepshead Bites.
The building is so far slated to house a furniture store and doctor’s office on the first floor, and a day care on the second floor. The third floor is still in negotiations, with the day care potentially occupying that as well, according to the manager, David Fernandez.
Community Board 15 voted in February 2011 to reject the building’s developer application to permit the reduction in required parking for an ambulatory or diagnostic treatment facility. The board was urged on by Councilman Michael Nelson, who argued that a furniture store on Voorhies Avenue with no off-street docking area for trucks would lead to more congestion on the already nightmarish roadway.
The Board of Standards and Appeals, which has final say over the application, has not yet voted on the project.
Photo by Erica Sherman
The space that hosted the old Combat Sambo Center – closed for a few years now – has been undergoing what appears to be a gut renovation for the past several days. We always thought this would make a good location for Sheepshead Bites headquarters, but, alas, not so soon.
Anyone know what’s coming to town?
Source: Google Maps
In an effort to offload defunct properties and reduce overhead, the MTA has issued a Request for Proposals from developers to rehabilitate and put to use seven defunct properties around the city – including an old electrical substation in Midwood.
Located at 851 East 15th Street, near Avenue I, the 7,920 square foot property is located mid-block, just before the footbridge spanning the open cut railroad line that crosses Brooklyn. It abuts the tracks for the B/Q Brighton line, and has been a haven for graffiti and illegal dumping for years.
Now that property, located in an R5 zoning district, is hitting the market – likely for a residential development.
The RFP comes after a year of reviewing the MTA’s real estate assets in an effort to increase revenue and reduce costs.
“Given the current financial picture facing the MTA, we have an imperative. We must do anything and everything we can to raise revenue and reduce costs in order to minimize the need to turn to fares, tolls and taxes,” said MTA Chairman Joseph J. Lhota. “Our real estate department is pursuing that imperative by thoroughly reviewing our real estate holdings and identifying properties that we could potentially offer for sale or lease. Finding properties that we own but don’t need in order to operate service is not an easy task. In fact, most of the properties that fell into that category have been sold off long ago by our public and private predecessors.”
The MTA and New York City Economic Development Corporation will accept proposals for about a year, with four deadlines beginning on June 29. Details can be found on the EDC’s website.
The other properties up for development are:
If not a residential development, what would you like to see in that location?
Photo by Erica Sherman
The building at 1201 Avenue Z, which for several years has been the home of Chicken Masters – a.k.a. Eat My Chicken – has sold for just under the $1.295 million asking price, Sheepshead Bites has learned.
The building went on the market in early January, and broker Brian Hanson of Massey Knakal Realty Services told us that the new owners plan to turn the fried chicken joint into a pharmacy.
So is this the end of independent fried chicken in Sheepshead Bay? Heck no! Vinnie Mazzone, who owned both the building and the business, said he’ll be relocating by June or July and will fill us in on the details then.
The former site of Chinar at 3110 Avenue U, which once also housed Jahn’s Ice Cream and The Flame, was torn down this week.
Chinar vacated the site in mid-2010, when they moved to a new location at 2775 Coney Island Avenue. It has been empty since then.
There are no plans listed on the Department of Buildings website for a new structure on the property, currently owned by CGB Principals Realty Associates.
GerritsenBeach.net also reported on the demolition.
Neighbors of the long-neglected lot at 1515 Avenue Z, formerly occupied by a gas station and mechanic, have noticed a lot of work going on in the last two weeks, as contractors cleared out the overgrowth and garbage. That’s because the property is now in new hands, and the owner – a developer with several properties in the area – is moving forward with plans to add parking.
