MikeF at Brooklynian has his antenna out. Here's his latest:
Looks like the old Toomey's diner at the corner of Empire and Rogers is about to be sold again. The zoning is R5 with an overlay of C1-3, so look for a buyer who can build a fairly squat building of up to 9,000 buildable square feet. The lots not that big. It's all about whether you can make a profit of course. Look at that crazy tiny triangle lot on Washington Avenue next to the S train if you need proof.
Note, the lot hasn't sold yet, but these lines from the prospectus say it all about the neighborhood's current advantages. At $3.2 million for the land, the price has increased threefold in two years. And as the Q's refrain goes, it is highly unlikely that any means-tested units will be built.
•Rising rents, one of the highest rent increases in any neighborhood in Brooklyn.
•The property is located two blocks from the Sterling St [2,5] train station. - See more at: http://www.brooklynian.com/discussion/44783/341epw-folks-to-develop-toomey039s-old-spot#Item_2
10 comments:
While it is presently only zoned to allow 9k BSF, investors previously purchased the property because they were betting the area would be upzoned:
"Also in late 2013, it shelled out $1.1 million for 258 Empire Boulevard in Crown Heights, where it plans to build 40 to 50 apartments."
http://therealdeal.com/issues_articles/new-players-get-in-the-game/
Similar investors will purchase the property at its new price, and will lobby politicians to help ensure their bet pays off.
I asked this once before but it got buried (or no one knows). Anyone know what's up with the old oil change/car wash place next to Phat Albert's and Planet Fitness? It's been boarded up for years now. Seem like a pretty valuable spot, though I'm sure it's previous iteration creates certain limits for its future uses.
If you have an idea for its use I could put you in touch with the owner of Phat Alberts. Otherwise, I suspect your guess is as good as anyone's.
But hey, if you want to open a car wash, there's your opportunity!
And thanks MikeF for reminding us how the zoning process works in real life. All this talk of the community running the process neglects the longstanding traditions inherent in big city development. We won't have any significant input if we don't...ah hell, I'm tired of repeating it. From her latest email to her supporters, it looks like she's planning to shut down yet another ULURP meeting. I should probably bring some headphones to tune it out, lest I lose my temper. Maybe listen to some Boards of Canada and just smile blithely.
I think Ozzy's Crazy Train is more fitting than Boards of Canada, but to each his own.
https://www.youtube.com/watch?v=w0N-l0tCHhM
Have you spotted her 8.5x11 sized stickers featuring the photo of her being arrested at a recent CB9 meeting? She's plastered them along the Blvd between Rogers and Nostrand. I'll snap a pic later.
that kind of postering is a crime, for every single instance. just sayin'. been busted myself.
They're stickers?? Oh come on. What hypocrites they are! Huge stickers all over our lamposts and buildings shows respect and love of where they live? Hardly. I have zero respect for anybody involved with any of these groups at this point. They have all dissed neighbors to some degree. Thoroughly disgusted.
As for Toomeys, I'm glad those lovely diner owners made some money selling the place though I do wish another diner had opened. They did try for a few years to get a restaurant to come in before they finally sold. Did any of the anti-development people help find a restaurant to come there? Nope. So no complaining.
Can't remember if I mentioned it before, but there's this poem by Floyd Skloot about Toomey's that is quite good.
https://spad1.wordpress.com/2010/02/13/toomeys-diner/
Post a Comment