Brooklyn Rents on the Rise With Crown Heights and Bed-Stuy Leading the Charge; Manhattan Rents Relatively Stable
More on the Brooklyn and Manhattan rental markets here
Our wrap-up of today’s real estate news highlights: Williamsburg-based development firm ASH NYC is planning to turn a longtime Bushwick glass factory into 80 apartments with ground floor commercial space. [Wyckoff Heights] Freddie and Fannie are warding off any “vultures” eyeing Stuy Town. The two mortgage giants say that they won’t provide funds to buyers who […]
To power up the vast $18 billion Related Companies project at Hudson Yards, the developers are looking to off-grid electrical systems. However, being green may also mean having to pay out more green. ConEd’s standby tariffs are canceling out any benefits for both big and small buildings alike. [Crain’s] The managers of the Empire State Building have asked a judge to dismiss a […]
Workers will resume construction today on the 23-story residential tower planned for 626 Flatbush Avenue at the edge of Prospect Park in Prospect-Lefferts Gardens. Yesterday, a judge threw out a lawsuit placed against Hudson Properties that demanded they chop their tower down to just eight stories. Through the Prospect Park East Network, residents managed to attain a temporary restraining order through State Supreme Court […]
Long Island City gets glassier by the day, and now Tishman Speyer is teaming up with Toronto’s H&R REIT to build a three-tower, 1.2 million-square-foot “landmark luxury residential rental development” with 1,600 residential units and 30,000 square feet of retail space. The dynamic duo paid a total of $55.6 million for the piece of land acquired from […]