Industry City in Sunset Park
Cheap rents and an abundance of loft space are luring new businesses to Sunset Park, Brooklyn, Crain’s reported. For example, 60,000 square feet of industrial space in the neighborhood’s historic waterfront warehouses on 36th Street is being marketed for $20 per square foot by Jon Brooks, an independent broker who said he is pitching the space for recording studios, concert venues and rehearsals. He will also offer tenants free build-outs. [more]
From left: Miron founder Jeffrey Schleider and the office on Huron Street
Residential brokerage Miron Properties has opened its first Brooklyn office in Greenpoint, founder Jeffrey Schleider told The Real Deal today, in order to accommodate increasing demand for properties in the area. The office, which will house 10 agents, is located at 162 Huron Street at a former clothing store called Methods. The firm is subleasing the space from Methods owner Dave Gee, who is moving the clothing business online. Gee is also getting his real estate license and plans on working part time for Miron, Schleider said. [more]
Laurence Gluck, president of Stellar, and 49 Crown Street (credit: PropertyShark)
The former owner of a large Crown Heights rental apartment building called Tivoli Towers claims that office and residential landlord Laurence Gluck and two of his companies which bought the property in 2010, allegedly owe it $400,000 in connection with that transaction.
Donald Lentnek, who sold the 33-story Tivoli to Stellar for $9.5 million, filed the lawsuit this afternoon against Gluck, and two companies (Tivoli Stock LLC and Tivoli B.I. LLC) on behalf of himself; the estate of his late mother Betty Lentnek; and their company Tivoli Associates, seeking what Lentnek says were past due rents owed by tenants at the time of the sale. [more]
Bush Terminal
Industry City Associates has successfully restructured its $300 million loan on Bush Terminal, a 16-building complex along the Brooklyn waterfront in Sunset Park, Crain’s reported. The ownership defaulted on the loan early last year after the economic downturn forced many office and industrial tenants out of their space, requiring Industry City to pay off the debt out of pocket. [more]
Council member Lew Fidler and the proposed condo site
Brooklyn Council member Lew Fidler said Mill Basin would “accept nothing other than one- or two-family homes” on a plot of land where a developer intends to build a six-story condominium. Brooklyn Daily reported Mark Scharf presented plans to the local community board for a six-story, 84-unit condo with retail space for a restaurant near the intersection of Mill and Strickland avenues in southeastern Brooklyn. [more]
Avi Voda (top) and Rachel Medalie (bottom) of Prudential Douglas Elliman and a rendering of 447 Avenue P
A 33-unit Sitt Asset Management condominium in the Midwood section of Brooklyn hit the market Monday with Prudential Douglas Elliman’s Avi Voda, an executive vice president, and Rachel Medalie, a vice president, the developer told The Real Deal. The property, at 447 Avenue P, has endured the roller coaster ride typical of boom-bust era Brooklyn developments, and Sitt Asset is finally ready to cash out of the project, called the Venetian, after a nearly decade-long ordeal. [more]
David Schechtman of Eastern Consolidated and 2300 Cropsey Avenue
A Swedish bank that holds dozens of former Lehman Brothers Holdings notes has retained commercial brokerage Eastern Consolidated to market the defaulted mortgage on a prospective Brooklyn development site owned by developer Alexander Gurevich, Eastern broker David Schectman, who is handling the listing, confirmed to The Real Deal today. [more]
341 Eastern Parkway
A 63-unit residential building with a ground-floor retail space likely to become a bank or a pharamcy will rise on a long-stalled Crown Heights development site, The Real Deal has learned. As I Love Franklin Avenue reported yesterday, Nassau County-based Bluejay Management acquired the stalled development site at 341 Eastern Parkway, on the corner of Franklin Avenue, for $8.63 million from A.J.J.M.D. Realty last month. The deal appeared in public records Monday. [more]
One New York City neighborhood is not welcoming new hotel development, the New York Daily News reported: East Flatbush. Neighbors to the newly proposed lodge, on Foster Avenue near East 59th Street, say the hotel will almost certainly draw unsavory elements, as there is little tourism in the area. [more]
A rendering of the BrightFarms rooftop garden
The world’s largest rooftop garden will debut in Brooklyn early next year, the New York Post reported. Manhattan-based BrightFarms is set to announce a deal today to create a 100,000-square-foot commercial greenhouse on top of the eight-story Liberty View Industrial Plaza, a city-owned property, on Third Avenue in Sunset Park. [more]
