My NYC Black Folk......Gentrification

capblk

Rookie
Joined
Dec 19, 2013
Messages
260
Reputation
80
Daps
471
Purchase seen as another sign that Mott Haven market is heating up - See more at: http://therealdeal.com/blog/2014/11...h-bronx-office-building/#sthash.mILbi41z.dpuf
hornig-2417.gif


A Long Island-based investor is in contract to buy a large office building in a gentrifying area in the South Bronx for $31 million, The Real Deal has learned.

The building sits steps from the Harlem River waterfront in an area that was rezoned in 2005 to allow for residential use in a manufacturing zone. A few years later the owners of a five-story building next door to 2417 Third Avenue received permits to convert that property into 46 rental apartments

Other developments in the area include a planned 84-key hotel on the northern side of the Major Deegan Expressway and the landmarked Clock Tower building, where one-bedrooms rent for about $1,700 a month.

Broker Matthew Green of Bohemia Realty Group regularly shows at the Clock Tower and said the neighborhood is on the upswing.

“Two years ago it was still difficult to bring clients over to Mott Haven,” he said. “They were skeptical and scared. They didn’t know where it was and they thought it was really dangerous.”

“No longer do I have to drag people there,” he added.

Hornig, which could not be immediately reached for comment, was reportedly in contract to buy a $36 million development site in Bushwick earlier this year.
 

Canada Goose

Pooping on your head :umad:
Joined
May 14, 2012
Messages
27,346
Reputation
8,863
Daps
122,978
Reppin
A lake near Tampa FL
Even white neighborhoods like Bay Ridge is affected by gentrification :whoo:


BAY RIDGE — Rents in Bay Ridge are on the rise.

The neighborhood saw a 9.4 percent increase in monthly rental prices since last year — the highest in the borough, according to a study by MNS Real Estate.

Andrew Barrocas, CEO of MNS, attributes the monthly price jumps to an influx of Brooklynites who find other areas too expensive.

"People are getting priced out of certain neighborhoods — like Fort Greene and Cobble Hill — and are moving farther out to the fringes," he said. "Bay Ridge has an established infrastructure and community making it an attractive option for people looking for a less expensive neighborhood."

Studio prices spiked from $1,157 to $1,389, one-bedroom prices rose from $1,524 to $1,606 and two-bedrooms are up from $2,165 to $2,303.

While prices in Bay Ridge are on the rise, they are still low for Brooklyn.

The average cost for a studio in Bay Ridge is 35 percent less than the borough average, one-bedrooms are 37 percent less and two-bedrooms are 31 percent less.

http://www.dnainfo.com/new-york/201...prices-jump-nearly-10-percent-since-last-year
 

newworldafro

DeeperThanRapBiggerThanHH
Joined
May 3, 2012
Messages
50,161
Reputation
4,820
Daps
112,954
Reppin
In the Silver Lining
Building an apartment building above an existing mall in Harlem, with a green roof top on the mall itself.



http://newyorkyimby.com/2014/11/rev...iver-plaza-harlems-new-tallest-buildings.html

Revealed: Three-Towered Plan for East River Plaza, Harlem’s New Tallest Buildings
BY: NIKOLAI FEDAK ON NOVEMBER 10TH 2014 AT 7:00 AM

Share on facebookShare on twitterShare on pinterest_shareShare on google_plusone_shareShare on redditShare on linkedin


East River Plaza residential towers, image by TEN Arquitectos

Earlier this fall, filmmaker Andrew Padilla got his hands on the massing diagram of Forest City Ratner’s proposed East River Plaza redevelopment. The portion of the mall on FDR Drive between East 117th and 119th Streets would give rise to three fifty-odd-story buildings. And now, YIMBY has the first semi-detailed look at the plans, designed by TEN Arquitectos.


East River Plaza residential towers, image by TEN Arquitectos

The three towers would rise atop two podiums placed over the existing mall and parking garage. Previously posted diagrams reveal the tallest of the group will stand 575 feet to its pinnacle, which is certainly tall for Upper Manhattan – taller than 1800 Park Avenue will be, even – but nothing extraordinary for New York City.

Still, the trio of high-rises would dwarf the surrounding tenements and even the public housing farther afield, with even the two shorter buildings clocking in at 515 and 455 feet tall. (The towers are only 47-, 41-, and 32-stories tall, but are boosted an extra 100 or so feet by the mall and transfer decks on which they would be built.)

From up-close, the designs take a more interesting turn. Variegated facades seem to emulate ODA’s work around the city or Herzog & de Meuron’s 56 Leonard. One of the towers would come all the way down to the street at “La Plaza,” which would rework the cobblestone dead-end of East 118th Street into an active public space. Glass cut-outs would be juxtaposed against future displays of public art over the black face of the current mall, integrating art and architecture into a coherent public space.

The project would also include 24,000 square feet of “low-rise” residences (perched 155 feet up, on a podium, and configured in the form of townhomes), plus another 25,000 square feet of amenities and cultural space.

Additionally, while it is difficult to tell in the renderings, the towers will be connected by two skybridges. The West Tower — the tallest of the bunch — will be the anchor, connected to the North Tower by a bridge at an elevation of 245 feet. Its link to the southern tower will be slightly higher up, at 255 feet.


Site overview

Of the towers’ 1,100 apartments, 25 percent would be let at below-market rates, according to Forest City Ratner’s proposal. They would go to households making 30 to 60 percent of the area median income, which this year would work out to anything from $18,000 for an individual to $52,000 for a family of four.

The site already has the zoning to accommodate the residential uses, but East River Plaza must still go through the politicized ULURP process because of a special permit used to build the mall. With a 25 percent affordable set-aside, the project would have more below-market housing than a typical 80/20 development.

The de Blasio administration will surely feel pressured to ask for more, and they may be able to eek a few more units out of the developers. But at the end of the day, they should approve the project, and encourage others like it throughout the neighborhood. The portion of the mall between East 116th and 117th Streets would be one place to start, and indeed, even more housing could easily be accommodated in the surrounding blocks.


East River Plaza residential towers, image by TEN Arquitectos

 

Wild self

The Black Man will prosper!
Supporter
Joined
Jun 20, 2012
Messages
80,232
Reputation
11,030
Daps
216,264
It's a dog-eat-dog world man. No place is untouchable.

Yeah, that goes to show you that ownership is necessary for our survival. Now you got these real estate gurus making attempts to gentrify the South Bronx. Even they ain't successful, the mere act of trying to do so means that no place in NYC is safe. The old NYC of the 20th century that people in here rep, is long gone.
 

KnowledgeDropper

All Star
Joined
May 29, 2012
Messages
1,656
Reputation
155
Daps
3,209
Reppin
Manhattan
I go to this hipster bar "D!ck and Janes" in Ft Greene sometimes. The bar is the perfect embodiment of this... Half black, half white but all the blacks are hipsters and you can tell in 3 years it'll be basically all white... Cute girls though (of all kinds)
 
Last edited:
Top