On the Market: Brooklyn Bridge Park Condos Still Controversial, Will Sell Anyway

Leo-seta, flickr.
Leo-seta, flickr.

How long do you have to walk to get to the grocery store? In New York, more than half of us live within a five minute walk of a store with fresh produce, according to Atlantic Cities, an enviable statistic that only two other U.S. cities—Philadelphia and San Francisco—share.

But if you have to take the train to get there, “butt hugging” the subway pole, as one woman was caught doing in this awesome/horrifying photo in New York mag, is very much frowned upon.

Also not cool? Ryan Serhant taking credit for Douglas Elliman colleague Emma Hao’s ground-breaking social media sale of two condos at the Baccarat tower, as reported by The Real Deal. And while we’re on not cool: more than a year after Sandy, many city residents and businesses have yet to receive federal aid. City council members are pressing the mayor’s office to account for the delays, according to Crain’s.

Crown Heights has been experiencing some of the most crazy fast gentrification in the city. To help keep track of all the changes, Curbed has put together a map of all 23 new residential projects in the works. Bed-Stuy has also been seeing a lot of new development lately, like the Boaz Gilad condos replacing a fetching wood-frame house with irreversible water damage on Jefferson, via Brownstoner. Or this affordable housing monstrosity rising at 482 Franklin, via Curbed. (Full disclosure, this is on a certain Observer real estate reporter’s walk to the train and while she fully supports more affordable housing in the neighborhood, she wishes that it did not involve such hideous architecture. Everybody deserves good design!)

On the topic of controversial residential projects: a group of elected officials, Daniel Squadron among them, is asking the de Blasio administration to curtail the condos in Brooklyn Bridge Park, according to the New York Times. Trouble is, the condos help to pay for the park’s massively expensive upkeep and if de Blasio redistributed parks alliance funding, as Squadron has proposed, the money would likely flow away from, not towards, Brooklyn Bridge Park. Elected officials, however, hope to make up for the loss of revenue by reviving a complicated deal involving tax revenue from the rezoning of Watchtower properties.

The totally predictable monthly market report shows that the residential sales market is hot all over the city, Crain’s finds. Though sales prices dipped slightly (!), a little fluctuation quarter-to-quarter is natural and potential buyers should continue to bring briefcases full of cash and a lawyer to open houses.

So how much money do you need to buy in brownstone Brooklyn? Tough luck if you don’t make at least $300,000 a year, a new study finds. DNAinfo discusses the rather disturbing implications of the aristocratization are that people who, “in any other circumstance or country would be considered wealthy,” are selling their townhouses because “the filthy-rich people were moving into the neighborhood.” On the Market: Brooklyn Bridge Park Condos Still Controversial, Will Sell Anyway