The Real Deal New York

Bed-Stuy / Bushwick neighborhood news

  • 376-franklin-avenue

    Now-demolished house at 376 Franklin Avenue

    East Elmhurst, Queens-based developer Tomer Development broke ground on a six-story apartment complex in Bedford-Stuyvesant.

    Tomer purchased the site at 376 Franklin Avenue, between Quincy Street and Gates Avenue, for $1.4 million in 2012. The next year, the owner tore down a white frame house leaving the site empty. Plans call for 20 units across 14,241 square feet of residential space, as well as 10 spots to park a car and 10 spots to park a bicycle. Banji Awosika is serving as the architect of record. [more]

  • From left: Condominiums at 440 Kent Avenue in Williamsburg, 360 Furman Street in Brooklyn Heights and 1 Main Street in Dumbo

    From left: Condominiums at 440 Kent Avenue in Williamsburg, 360 Furman Street in Brooklyn Heights and 1 Main Street in Dumbo

    The Brooklyn residential market has exploded over the last decade, with Williamsburg condo prices increasing nearly 150 percent and the average sale price of a Brooklyn Heights townhouse jumping 152 percent, according to’s first ever ten-year sales study. [more]

  • CastleBraid apartments at 114 Troutman Street in Bushwick

    CastleBraid apartments at 114 Troutman Street in Bushwick

    Hipsters who took over Bushwick about a decade ago are rallying together to resist the influx of young new residents who they claim are still being supported by their parents.

    The older hipsters have expressed their frustration regarding luxury residences such as the new CastleBraid rental complex, which is chock-full of amenities to attract a fresh wave of residents. The hipster bells and whistles at the Mayer Schwartz-developed building include a recording studio and a digital media lab. Last month, the older hipsters put crime-scene tape with the word “Occupy” written on it across the building’s entrance, in reference to the Occupy Wall Street movement. [more]

  • From left: 3rd Ward's former 195 Morgan Avenue location in Bushwick and 1000 Dean Street

    From left: 3rd Ward’s former 195 Morgan Avenue location in Bushwick and 1000 Dean Street

    The city gave Bushwick’s 3rd Ward art and design space part of a $1.5 million grant to start a food incubator in Crown Heights before the center shuttered abruptly in early October, but no one will say how much was handed over or where it went. [more]

  • 1074-broadway

    1074-1080 Broadway

    Along the border between Bushwick and Bedford-Stuyvesant, a Great Neck, N.Y.-based developer has plans for a 38-unit mixed-use building.

    The eight-story building at 1074-1080 Broadway, between Lawton and Dodworth streets, would contain a 3,513-square-foot ground-floor space, a shared rooftop and a bike room. It is unknown whether the residential component will be rentals or condominiums. [more]

  • david-maundrell

    308 Malcom X Boulevard and David Maundrell

    With an ear to the ground for the next breakout Brooklyn market, brokerage signed a lease for 2,000 square feet over two floors at 308 Malcolm X Boulevard, between MacDonough and Decatur streets, in Bedford-Stuyvesant.

    The Williamsburg-based sales and rental brokerage opened its second Brooklyn office in Cobble Hill last year, and this marks the third. Founder David Maundrell said he is seeing families increasingly spend roughly $1 million in Bed-Stuy to convert a three-family house into a single-family one. [more]

  • 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]