The Real Deal New York

Boerum Hill / Cobble Hill / Carroll Gardens neighborhood news

  • 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]

  • 166 Smith Street in Brooklyn

    166 Smith Street in Brooklyn

    The property at 166 Smith Street in Brooklyn, once known for being one of the ugliest buildings in the city, has been redeveloped into a three-story rental building with storefronts on the ground floor, the New York Observer reported. [more]

  • From left: 151 Court Street in Brooklyn, CPEX's Kristina Triglia and Ryan Condren

    From left: 151 Court Street in Brooklyn, CPEX’s Kristina Triglia and Ryan Condren

    As part of the further transformation of retail shopping in Brooklyn, the global apparel chain J. Crew is coming to a two-story building in Cobble Hill, according to two people familiar with the transaction. [more]

  • 280 Bond Street (Credit: PropertyShark)

    UPDATED, 9:10 p.m. May 20: A group of Carroll Gardens and Gowanus, Brooklyn residents are up in arms over the proposed renovation of 280 Bond Street, a warehouse, into the Rock & Roll Playhouse, Pardon Me For Asking reported. The group issued a petition to Community Board 6 to halt the development.

    Peter Shapiro, who’s also behind music venue Brooklyn Bowl, seeks to renovate the warehouse into the facility. The proposed venue, at Degraw Street, will abut several residential properties. [more]

  • From left: Deborah Rieders and interior images of her home

    Deborah Rieders, a senior vice president at the Corcoran Group who was named the firm’s top Brooklyn broker of 2012, sold her Boerum Hill townhouse for its $3.2 million asking price, according to public records filed on Friday. [more]

  • Exterior and interior renderings of the Townhouses of Cobble Hill

    Progress is taking place at the Townhouses of Cobble Hill, a set of nine townhouses — four historic and five that have yet to be built — on a single Congress Street block in the Cobble Hill Historic District. A team of developers said they will begin marketing three of the homes in the next month, though a specific date was not disclosed. [more]

  • The Tracy Mansion in Park Slope

    From the April issue: Besides kid-friendly restaurants and baby strollers, Brownstone Brooklyn neighborhoods — think Park Slope, Boerum Hill — are amassing something else: more townhouse listings and sales over $3 million. [more]

  • Long Island College Hospital in Brooklyn

    The prospect of Cobble Hill’s 150-year-old Long Island College Hospital closing its doors for good has NYC’s developers drooling at the thought of $1 billion worth of new construction and conversions, according to the New York Daily News.

    The prime Brooklyn site includes five main and several smaller buildings, a waterfront parking lot and townhouses all around Atlantic Avenue and Henry and Hicks streets. [more]

  • Long Island College Hospital in Brooklyn

    After weeks of denial, State University of New York officials have admitted in court that real estate was discussed during a closed-door meeting on the future of the financially troubled Long Island College Hospital in Cobble Hill, the Brooklyn Paper reported. The revelation has effectively led to a delay of the target closure date, set for May 21.

    The hospital’s $500 million property holdings were discussed in a private meeting held on Feb. 7 that activists believed should have been public, according to court documents seen by the Brooklyn Paper. [more]

  • Boerum Hill townhouses top $4 million

    February 21, 2013 09:30AM

    From left: Jim Cornell, Leslie Marshall, 128 Bergen Street and a rendering of 309 State Street

    Townhouses in Brooklyn’s Boerum Hill neighborhood are commanding hefty prices — some listed at more than $4 million, the New York Post reported. [more]

  • Long Island College Hospital

    The SUNY board of trustees voted unanimously today to close the Cobble Hill-based Long Island College Hospital, the Brooklyn Daily Eagle reported. The sale of the 200,000-square-foot building, which could be converted into a residential development, may bring up to $500 million, by some accounts.

    Dr. John Williams, the president of Downstate Medical Center, which owns the hospital, said this morning that no one is to blame for the hospital’s closure. “This is unfortunately just one of the things we just have to do,” he told the board. [more]

  • From left: the exterior of 356 Sackett Street and shots of its interior

    A four-story, 22-foot-wide townhouse located at 356 Sackett Street in Carroll Gardens, Brooklyn has traded hands for just over $4 million, Brownstoner reported. And according to the site, this property back in the fall was the neighborhood’s most expensive listing. [more]

  • From left: 364 Union Street and Jody Kriss of East River Partners

    A brownstone conversion project at 364 Union Street in Carroll Gardens, Brooklyn, is forging ahead, Brownstoner reported. The East River Partners-developed project has launched a website and according to Brownstoner, sales will launch this spring. However, the development’s website says the properties will open this winter. As The Real Deal reported, construction on this project launched this past year. [more]

  • From left: Aroza Sanjana, Jose Nunez and a rendering of the Henry Street homes (credit: Brownstoner)

    Though they’re not yet built, the brick townhouses from 357 to 361 Henry Street in Cobble Hill, Brooklyn are now available for sale. Arona Sanjana and Jose Nunez at Warren Lewis/Sotheby’s International Realty are marketing the properties for $4.3 million each, Brownstoner reported.

    Each home has four bedrooms and four bathrooms and will come with German Pogennpohl cabinetry, as well as Sub-Zero and Wolf appliances. [more]

  • Project rendering (credit: CityLand NYC)

    The construction and redevelopment of nine townhouses on a single Cobble Hill block will move forward, now that the Landmarks Preservation Commission has approved plans for 110-128 Congress Street in the Cobble Hill Historic District; the plans include the ground-up construction of five townhouses and the renovation of four existing ones. [more]

  • From left: G. Esposito & Sons, P.J. Hanleys and D'Amico Foods

    While large companies opting to buy their real estate spaces has been a boon to development in Manhattan, the same decision made years ago by smaller firms is preserving mom-and-pop charm in Cobble Hill and Carroll Gardens. There, Crain’s reported, on 13 blocks of busy Court Street between Warren Street and Fourth Place, more than 20 longtime, mostly Italian small businesses are thriving while gentrification rears its head in nearby residential real estate and the Trader Joe’s and Union Market that have moved in recently. [more]

  • From left: Ellen Israel of JRT Realty Group and 71 Smith Street (credit: PropertyShark)

    A Boerum Hill parking lot ripe for residential development has hit the block for about $40 million, the New York Observer reported. The 71 Smith Street site can legally accommodate 206,530 square feet of residential space and another 105,271 square feet of commercial space, the Observer said.

    The land is being marketed by Cushman & Wakefield and JRT Realty Group. The site is owned by a joint venture between Hamlin Ventures and Time Equities. [more]

  • From left: Gerard Longo and photos of the site at 118 Congress Street (credit: Google and PropertyShark)

    A pair of developers is planning to renovate four historic townhouses, built before the Civil War, and to build from the ground up five more — all on a single Cobble Hill block, The Real Deal has learned. The project, which has yet to win approval from the Landmarks Preservation Commission, is a joint venture between 184 Kent developer JMH Development and Madison Estates. Morris Adjmi is the project’s architect. [more]


  • Home prices in Brooklyn have held steady in the second quarter, but the market is characterized by a steep decline in inventory and a notable uptick in the sales prices of brownstone properties, second quarter market reports from leading brokerages show.

    “Pricing didn’t do a whole lot,” in the second quarter in Brooklyn, said Jonathan Miller, president of real estate analytics firm Miller Samuel and author of Prudential Douglas Elliman’s market report. The more compelling statistic, Miller said, is the 18 percent decline in inventory in the borough year-over-year, which is “firming up the market by stabilizing prices.” Inventory has also declined in Queens, and to some extent in Manhattan, Miller said, but the precipitous drop in Brooklyn is a result of the market peaking earlier there, and the recession hitting harder. [more]

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