Along the southern border of Greenpoint, near Williamsburg’s McCarren Park, a once charming 19th-century school building at 533 Leonard Street is completing its adaptive reuse into 13 condominiums. Three two-bedroom units were just listed on the market this week asking an average price per square foot of $1,411, a bit above Greenpoint’s current average condo asking price of $1,152 per square foot. The 21,000-square-foot development is a synthesis of the Italianate-style Horace Greeley School married with a modern addition and gut-renovated interiors handled by local architects MDIM.
Near the Williamsburg waterfront and steps away from Bushwick Inlet Park (home to the famed Smorgasburg), Largo Investments and minority partner JDS Development have hatched plans to build a boutique condominium building at 71-73 North 7th Street. The four-story, 15,000-square-foot development will expand upon the structural bones of an existing single-story building, ultimately creating four capacious apartments.
Real Estate Wire: Downtown Brooklyn is a Shining Example of Good Development; One of Greenwich’s Oldest Homes Could be Razed, Tue, July 15, 2014
- Vornado Realty Trust and Crown Acquisitions have just paid $700M for 24,700 square feet of retail space plus air rights at the St. Regis Hotel and a neighboring townhouse. Insiders suspect they’re looking to get in on booming retail sales which could lead to higher future rents. [TRD]
- Michael Stern’s JDS Development Group, together with Largo Investments, bought a West Chelsea parcel near the High Line Park for $34.75 million. [TRD]
- There’s an 8-story hotel opening in Bushwick this Fall. [DNA Info]
- One of the oldest homes in Greenwich Village could be razed to make way for condos. The property at 121 Charles Street has been listed as a development site. [NYDN]
- The luxury rentals at 200 East 11th Street have just hit the market. You can expect to pay $3,900 for a studio, $5,800 for a one-bedroom, and $9,350 for a two-bedroom. [Curbed]
- Downtown Brooklyn is being touted as a shining of example of how careful planning and meaningful investment can revitalize and urban center. [Crain’s]
The green roof planned for the BAM South Tower in Downtown Brooklyn (left); 121 Charles Street (right)