Nothing says “Labor Day” like a heart-warming article on the oppression of working class tenants by “one of the biggest property owners in neighborhoods from Brooklyn to the Bronx.” The Pinnacle Group has gulped New York buildings by the billion (seriously), sending dispossession notices to 5,000 tenants. “I don’t want to call it gentrification,” says boss man Joel Weiner. “I want to call it meeting community needs.” (The New York Times)Today’s Crain’s reports that 60% of Brooklynites support the $4.2 billion Atlantic Yards development. A high number, no? Plus, nearly 9 out of 10 New Yorkers think the project will “be an important benefit to the community,” on account of the affordable housing and new jobs. 10 out of 10 Bruce Ratners agree.
They like him, they really like him
(NY1, via Crain’s Premium)Hey, everyone, have you heard that Harlem is hot right now? Here are some numbers: In 2000, Lovelynn Gwinn bought a townhouse on West 138th for less than $250,000–now it’s on the market for $1.4 million, cheaper than the $3.2m asking price for her Convent Street brownstone. But the price to beat in Harlem is $3.8 million, and that’s just around the bend. (New York Times)
– Max Abelson