The Real Deal New York

Bed-Stuy / Bushwick neighborhood news

  • From left: Jason Goodman, 3rd Ward Brooklyn at 195 Morgan Avenue and 3rd Ward's Philadelphia location at 1227 North 4th Street

    From left: Jason Goodman,195 Morgan Avenue, Brooklyn and 1227 North 4th Street, Philadelphia

    Bushwick art and design space 3rd Ward, shutting down after seven years as an educational work space, will not be refunding the bucks members plunked down for access to the 30,000-square-foot work space. The company alerted would-be artisans and dozens of subleasing tenants in an email. [more]

  • 1245-fulton-st-rendering

    1245 Fulton Street rendering (Inset: Planet Fitness logo)

    Planet Fitness plans to pump up the presence of fitness in Bedford-Stuyvesant with a new gym. The fitness chain signed a 22,500-square lease for the first floor, second floor and basement of 1245 Fulton Street, near Arlington Place. [more]

  • bed-stuy

    426 Bainbridge Street rendering and Boaz Gilad

    In recent years, brokers had a hard time branding the area east of Malcolm X Boulevard in Bedford-Stuyvesant. Now, as this section of the neighborhood is on the eve of resurgence, they call it “Bed-Stuy East.”

    Weissman Equities is starting construction on a mixed-use building at 426 Bainbridge Street later this month. A café, wine store and custom T-shirt retailer have approached the company’s co-founder, Seth Weissman, with offers for the available retail space. [more]

  • 742-559-O'Brien

    From left: 742 Madison Street, 559 Decatur Street (Photo credit: PropertyShark) and Stephanie O’Brien

    It’s tough out there for a Brooklyn buyer looking to land a modestly priced townhouse. But in the gentrifying area of Bedford-Stuyvesant, private buyers face even stiffer competition than elsewhere in the market for homes and small multi-family properties. Over the past year, investors have snapped up nearly three-quarters of the one-, two- and three-family houses sold at the low-end of the market in the neighborhood. [more]

  • From left: 442 Troutman and

    From left: 442 Troutman Street and the Bushwick Collective at Troutman Street and Saint Nicholas Avenue

    An industrial Bushwick strip is quickly transforming into a hub of nightlife and culture with the addition of a music hall, lounge, urban garden and high-end pizzeria. [more]

  • alhambra

    From left: 783 Knickerbocker Avenue in Bushwick as Alhambra theatre and child care center

    A conversion is in the works to turn the site of the historic Alhambra Theatre in Bushwick into 24 apartments. [more]

  • Rendering of 1255 Bushwick Avenue (Credit: Brownstoner via Brookland Capital)

    Rendering of 1255 Bushwick 

    Isaac & Stern have released a plan to convert a Bushwick church into a residential apartment building with a four-story addition.

    Brookland Capital purchased the Holy Tabernacle Church of Deliverance at 1255 Bushwick Avenue for $1.95 million in June, but as of yet no permits for work on the property have been filed. The increasingly busy avenue has become a mix of commercial and residential development in recent years, Brownstoner reported. [more]

  • bushwick

    Rendering of Rheingold Brewery site

    Despite an outcry from Bushwick residents, the City Planning Commission won’t challenge the local community board’s hush-hush approval of Read Property Group’s plan to build apartments and retail space at the former Rheingold Brewery site.

    Neighbors accused Bushwick Community Board 4 of illegally approving the plan in a meeting closed to the public. Read Property proposed changing nine blocks of Bushwick from industrial use to residential use to accommodate several rental buildings on a mostly vacant 6.7-acre site. [more]

  • rheingold

    Rendering of development on former Rheingold Brewery site in Bushwick, and Diana Reyna

    City Council member Diana Reyna is investigating Community Board 4’s allegedly unpublicized approval of the Read Property Group’s plan to build high-rise apartments and retail space at the former Rheingold Brewery site in Bushwick. [more]

  • New development construction in Bushwick

    New development construction in Bushwick

    Although many young renters are moving from Williamsburg and Bushwick into the more working-class neighborhood of Ridgewood, Queens, as The Real Deal reported in its August issue, Bushwick still remains active with residential construction projects seeking young renters, according to the New York Times. [more]

  • Buying a memorable staycation

    July 28, 2013 12:00PM
    South Down Lakes Region, N.H.

    South Down Lakes Region, N.H.

    From Luxury Listings NYC: If you ask Dan Dicarlo where to find value, the 42-year-old retired Wall Street trader will tell you the Sandy-ravaged Jersey Shore. That’s where he found his second home. [more]

  • Christy Romero

    Christy Romero

    A report released by the Treasury Department’s Troubled Asset Relief Program reveals that its mortgage modification program appears to have been helping servicers more than homeowners, the New York Times reported.

    The report, by Christy Romero, the special inspector for TARP, reveals that although more than a third of homeowners who received loan modifications under TARP’s mortgage modification program have since stopped paying, banks and other mortgage servicers kept the money they received for modifying those loans. [more]

  • Guy Geier

    Guy Geier

    The largest construction and architecture firms are seeing healthy growth in their employment figures, suggesting a rebound in building activity, Crain’s reported.

    Full-time employment at the top construction companies was up 1.6 percent in 2012, while the number of architects at the largest firms was up 8 percent from a year earlier. Though the job gains at many architecture firms were less than those seen in the first years of the millennium, there are those who insist that ultimately, that is a good thing. [more]

  • From left:

    From left: Shameika Wade and Bed-Stuy properties

    A Corcoran Group broker has distributed flyers in Bedford-Stuyvesant trying to persuade brownstone owners to part with their valuable townhouses — a far cry from the days when house-flippers would offer to buy brownstones in any condition, Brownstoner reported. The leaflet, distributed by salesperson Shameika Wade, warns that no one is building new brownstones, meaning that prices in the neighborhood will increase, and points to two recent record sales. [more]

  • From left: Councilmember Diana Reyna and the CastleBraid apartments in Bushwick

    As discussions about a Bushwick rezoning bid take shape, some locals are hoping to prevent the neighborhood from becoming the next luxury condominium-filled Williamsburg. The Wall Street Journal reported that community leaders, such as Councilmember Diana Reyna, are seeking to influence the development that some see as inevitable.

    Reyna, for one, wants the rezoning to look different than the one that took place in Williamsburg and Greenpoint seven years ago and paved the way for high-density luxury developments and rental buildings to overtake industrial properties. Reyna, instead, wants low-rise developments to populate the industrial Bushwick, so a strong presence of affordable housing and for local jobs to be preserved. [more]

  • Green Fitness Studio

    Bushwick may already be famous for its gritty industrial ethos and its throngs of hipsters. Now a local environmentally conscious gym is looking to up the ante. Green Fitness Studio, located at 232 Varet Street, wants to let its hot and sweaty members cool off with a Pabst (PBR, in Williamsburg-speak) and has submitted an application for a liquor license to prove it, according to DNAinfo.

    The multi-level gym is known for its recycled workout equipment, grass-covered roof, capoeira and yoga classes, but it could soon become a host to rooftop events in the evening. [more]

  • A rendering of the Pitkin Theater renovation (credit: Brownstoner)

    A $43 million adaptive reuse project in Brownsville, Brooklyn is now complete, Curbed reported. Two years ago, developer POKO Partners embarked on the redevelopment of the Pitkin Theaternto, a complex that includes retail and the Brownsville Ascend Charter School. [more]

  • The Slave Theater

    Would-be buyers have expressed interest in the famed Slave Theater in Bedford-Stuyvesant, Brooklyn, the New York Daily News reported. This news comes on the heels of reports last week that the theater’s foreclosure auction last had been canceled; there were rumors that a new purchaser had been found. There are a total of five interested parties being considered, sources said.

    Although the Daily News does not name names, the paper says one developer wants to spend $74 million to bring a Red Roof Inn as well as another theater to the site. [more]

  • From left: Jonathan Solari, artistic director of the New Brooklyn Theater, and the Slave Theater

    There’s a new Kickstarter campaign to buy the Slave Theater in Bedford-Stuyvesant, Brownstoner reported. The non-profit New Brooklyn Theater is behind the effort and aims to raise $200,000 by early October for a down payment on the building’s purchase. So far, $15,113 has been raised by 66 backers.

    The New Brooklyn Theater pledges to restore the crumbling theater, use it as a showplace for Brooklyn artists and sell affordable tickets. [more]

  • Drooling over Bushwick

    June 15, 2012 04:00PM


    The CastleBraid apartments at 114 Troutman Street in Bushwick

    From the June issue:  Much like once-obscure Soho in the 1980s, Bushwick is a magnet for today’s artists and hipsters. And real estate players are now hoping to get in on the action.

    Developers are salivating over sites in Bushwick, industry experts said, especially as nearby Williamsburg has transitioned from a gritty industrial area to an expensive residential neighborhood. Bushwick is still relatively affordable in comparison, but is seeing strong demand for rental housing. [more]

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