New Greenpoint developer has ambitious plans, some supporters
November 03, 2009 06:30PM
A rendering of the proposed structure
Developer Jonathan Bernstein is setting an ambitious course in Greenpoint -- the first-timer is looking to build the tallest tower on the waterfront, so lofty that it exceeds current zoning laws by about 20 percent. The development, which includes two towers, one reaching 470 feet and the other up to 200 feet, would sit on a 100,000-square-foot lot on India Street by the East River. Bernstein is currently applying for the numerous city rezonings and approvals that would be needed to build the structure, the Architect's Newspaper reported, although it may not be a lost cause. Ward Dennis, chairman of Brooklyn's Community Board 1, says the project represents the tricky push-and-pull of new developments in the area. "It's a beautiful project with a hard sell," Dennis said. "What the community needs to decide is where that balance is between density and open space and affordable housing. And really, that's what all of these projects come down to." In fact, the developer's promise to construct piers, install water taxi service, and facility beach access as a part of the project has reportedly helped cultivate support for the buildings. [Architect's Newspaper]
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Comments
Anonymous
Almost laughably idiotic in size in current market conditions. Prices are falling , there is an over supply, and this one wants to over develop an additional building. Hello, inventory is growing and prices are decreasing.
Comment #1 Posted By: Anonymous 11/03/09
Anonymous
we need more people
Comment #2 Posted By: Anonymous 11/03/09
Anonymous
It should say 100,000 square foot lot.
Comment #3 Posted By: Anonymous 11/03/09
Anonymous
It will take years and years for this is get approved anyway, so by then the market will have improved (or gotten worse).
Comment #4 Posted By: Anonymous 11/03/09
Anonymous
He just wants his name in the news. free publicity for his name when googled.
Comment #5 Posted By: Anonymous 11/03/09
Anonymous
This project won't come online for another 5 years. By that point the market will have recovered and the excess supply will have already been absorbed.
Comment #6 Posted By: Anonymous 11/04/09
Anonymous
greenpoint/williamsburg/bushwick/dobro/sobro inventory will be absorbed in 5 years? at what price?
simple economics, if the cost to build is more than existing product, new development will not happen. brooklyn will go to sleep for another 10-15 years.
Comment #7 Posted By: Anonymous 11/05/09