The management company responsible for The Breakers condominium development only just started the uncertain process to construct a private marina, but they’ve been marketing the fantasy slips for nearly a year.
Wilk Real Estate, which represents The Breakers at 3128 Emmons Avenue, posted the above YouTube video in October 2009. The problem is that they hadn’t yet started the complex approval process to have it constructed, raising the question of whether or not they’ve been misleading residents.
The photo above shows the backside of La Mer Villas, a development that several years ago attempted to build a private marina. Local concerns stopped the plan in its tracks. At the time, civic groups and the community board were concerned construction would lead to a narrowing of the already clogged navigation lane out of Sheepshead Bay.
In a real estate piece profiling the square-mile community, the New York Times portrayed Brighton Beach as a place where condos, co-ops and generally tall buildings are thriving despite a battered market. And fueling that success was an ocean view and a bustling community – and housing stock that can be easily demolished.
Starting around 2005, so that residents inland could enjoy (and pay accordingly for) panoramas, developers began erecting apartment towers as tall as Ms. Correa-Pinto’s. On those lower-slung blocks, the buildings seem gargantuan, like redwoods among ferns.
This old, ugly building at 702 Avenue U sold for $1,483,000 on March 23. It sure didn’t get that dollar amount for it’s chic example of modern architecture. Located on the corner of East 7th Street, the 3,000 square foot lot with R6A zoning is probably what attracted such a fancy price tag. Demand from the Orthodox community has fueled a number of condo projects on the western end of Avenue U, and this could be the latest example of a development on a smaller lot. Under the area’s zoning, developers can stack up to seven stories, and they can build up to ten residential units without parking.
The new owner is 702 Avenue U Holdings LLC, located at 426 Nassau Road in Roosevelt, NY. We couldn’t find a name behind the LLC, but the address is the same as a landscaper.
A short while before that, when there was still snow on roofs, signs posted invited everyone to come on up to the fourth floor for an open house. Knowing that readers were interested in seeing the design of the apartments, I followed the instructions and headed up to take a look.
Is 1702 Avenue Z cursed? It could be, because what once was among Sheepshead Bay’s glitziest properties now has signs of a downhill turn.
First of all, it’s almost a year behind the completion date of the building and work is still being done on the interior of East 17th Street and Avenue Z. Things started to look up in August, as the commercial broker, Massey Knakal Realty Services, told us they were closing a deal with a group of local doctors to use the entire office/retail space as a medical center. Then, in November, the posh residential units hit the market under the elite Corcoran name, with asking prices of more than $800,000.
Now, just a measly three months later, all the big boys have pulled out. The deal with the doctors fell through, and Massey Knakal is no longer representing the building. Similarly, The Corcoran Group has pulled the listing from its website.
Click to see broker's sign
The entire development – commercial and residential – is now represented by the mysterious Dreamlife Realty, for which we can find little information. Their website is dated 2008 and is notably blank and sets off anti-virus alerts. Similarly, a Google search for the agent – Olga Orak – reveals little more than she represents a few McMansions out in New Jersey.
So what’s the deal? What has made two of New York City’s biggest brokers turn tail and run for the hills? And will Little Miss Dreamlife Realty have the pull to market such a high-priced, mixed-use development?
I guess what I’m asking is: are these ever going to sell, or does something smell fishy in Sheepshead Bay?
No, it's not a dorm. These condo units at Avenue V and West 11th Street just hit the market. Asking prices range from $429k. They're a block away from the Marlboro projects.
Listen, Brooklyn developers, can I get a word with you over here? Ok, good. Now, let’s keep it real. Sometimes – sometimes - you’re a friggin’ idiot. What? No! Don’t get offended, but it’s true. Like, you know, lacking common sense. I mean, you bought an entire block some years ago on Avenue V and West 11th Street with the intention of building some high-end condos. I know, I know – everyone was doing it. There’s money to be made, I get it. But, well, it’s just that not everyone does it a block down from the projects, know what I mean? What? I don’t care how good the market was back then, that’s just dumb. Those projects ain’t goin’ anywhere. It’s the Marlboro projects – been there since ’58 and has almost 4,000 people living there. They not movin’. You really thought people would want to shell out $429,000 and up for your parquet floors, elegant kitchens, and ambient gunshots in the background? Get real, man. Yeah, at least you put indoor parking. But holy fuck, man, really?
We’ve been curious for some time now when the condos over at East 17th Street and Avenue Z would hit the market. It’s been months since we announced that the retail portion of the building was sold to a group of local doctors for a medical office. And we’ve been following construction on the building, noting in September that the building seemed almost complete. Still, we wondered when The Corcoran Group, which represents the residential units of 1702 Avenue Z, would announce open houses. Well, wait no longer: the high-end real estate giant posted prices and floor plans to its website yesterday.
The units are asking between $800,000 and $900,000 for between 17,000 and 19,000 1,700 and 1,900 square feet. They each feature three bedrooms and balconies, and most have three or three and a half bathrooms. Corcoran is marketing the high-end nature of this building on what was once a rundown garage: African Walnut hardwood floors, roof access, granite countertops, porcelain tiling, and Bosch appliances. What it’s notably lacking, though, is parking. Though the 10 units are attracting new families to the area, it does little to alleviate the extra burden they’ll put in an already parking-strained area.
If you’re interested in doling out almost a million dollars for a parking nightmare, Corcoran is having open houses tomorrow between 5 and 6 p.m.
Construction workers removed the scaffolding around the glass-and-steel construct on Avenue Z and East 17th Street this morning, signaling an end to almost two years of work.
Workers on the scene are now tearing up the sidewalks and preparing to pour new concrete. They say the sidewalk will be done within the next couple of days. With a few exceptions on the street level and on the roof, all exterior work appears to be complete, and the crew said the inside of the building was ready as well.
Still, there appears no sign from the building’s residential realtor – Corcoran Group – that they’ve started marketing the building. On the commercial side, the building’s representative, Massey Knakal Realty Services, said last month that they’re close to a deal with a group of local doctors for medical offices. The docs will take all the commercial units, which include a total of 15,700 square feet spread among the basement and first two floors.
