110 Livingston Street

Brooklyn developer Two Trees Management settled its suit for $150,000 after a couple in contract for a $795,000 two-bedroom condominium unit in 110 Livingston Street in Downtown Brooklyn found their living room was 109 square feet smaller than the 734 square feet advertised. The New York Times reported that Rishi and Heather Bhandari asked for a discount at closing, but Two Trees insisted that the couple heed the contract, meaning the couple had to purchase the condo or back out and recoup their deposit. The two parties were in dispute until March 23 when Two Trees agreed to return the deposit with interest ($81,077) and to pay the couple an additional $150,000. In return, the couple agreed not to rent or buy from Two Trees for four years. [more]

A gallery show at the Chashama space at 679 Third Avenue (Credit: Susu Pianchupattana of Chashama)

The practice of landlords donating space to the arts to enliven a neighborhood is blossoming in New York City. It’s been occurring since at least the early 1980s, when David Walentas, founder of Two Trees Management, donated space to lure artists to Dumbo. Although Chashama and Lower Manhattan Cultural Council, two arts non-profit organizations that facilitate the donation of space to artists, say they’ve noticed no increase in offerings of space with the economic downturn, the quickness and ease with which Downtown Brooklyn Partnership has been able to fill vacant space with art installations, shows that landlords are increasingly open to this practice. [more]

Brooklyn Borough President Marty Markowitz allocated $1.1 million late
last month for renovations at Issue Project Room, a non-profit arts
space at 110 Livingston Street. The arts space is in a building owned
by developer Two Trees Management, which purchased the property from the
Department of Education six years ago to develop it into a condominium.
Two Trees was required to give 5,000 square feet to a cultural group
for 20 years in a rent-free lease. Issue Project Room won the bid only
to find that the space would need $2.5 million in renovations. Suzanne
Fiol, Issue Project Room’s founder and creative director, said the
group wants the space to be an avant-garde Carnegie Hall. [more]