01/13/15 1:25pm
Peas&Pickles Grocery

Peas&Pickles Grocery

Peas & Pickles, the 24 hour deli/grocery store in Dumbo Brooklyn closed for interior renovations starting yesterday. A note on their door says that the expected completion date will be sometime in February 2015.

We are thrilled to announce that our highly anticipated interior renovation has begun, with the expected completion date of February, 2015.

While our store remains a preferred choice of many customers, these extensive renovations will allow us to provide the very best shopping experience to our valued customers.

In the meantime, you can go to the other Dumbo groceries Bridge Fresh Market (7am-11pm) at 68 Jay Street and Foragers Grocer (M-F 8a-9p, Sa-Su 9a-9p). Delis in the neighborhood include 7 Stars Deli (M-Sat 5:30a-5:30p, closed Sun) at 59 Front Street or Jimi’s Fine Food at 50 Jay Street.

Foragers Grocer

Foragers Grocer

01/09/15 4:32pm

Front of the building (courtesy 185york.com)

Front of the building (courtesy 185york.com)


Rear of the building (courtesy 185york.com)

Rear of the building (courtesy 185york.com)

A buyer of a condo unit at 185 York Street reports that the owners have been waiting since mid-2012 to move into the building. The building is being marketed as “City View Condominiums.” The Certificate of Occupancy has not been issued yet, according to the NYC Department of Buildings, which prohibits anyone from occupying the building.

A Brownstoner post from February 2013, almost two years ago, says that at that time, “a broker here tells us that they are going through the last of the inspections and anticipate closings to begin in February or March”. Obviously there are still delays. The buyer suggests to us that the “building sponsor seems to be deliberately holding up the closing of the building. Our only conclusion is that the sponsor under-priced the units, hopes that we will all lose patience and cancel our contracts.” When the 16 unit building went on the market in April 2012, the units ranged from $375,000 for a 631-square-foot one-bedroom to $845,000 for a 1,193-square-foot two-bedroom, two-bath duplex.

According to StreetEasy, 15 of the units were listed for sale until December 29, 2014. Does anyone have updated status for the buyers of this building?

Here’s the note we received from a prospective buyer:

Just wanted to let you and your newspaper know that I am one of the prospective purchasers of a unit at 185 York Street in Vinegar Hill.

Along with all the other eager prospective purchasers, we signed a contract for our unit in the building, which was essentially completed, in mid-2012. Since then, in the intervening 2 1/2 years, we have been starved of information about what is going on and what information we have been given has been incorrect or misleading. The contract holders have nee renting temporary accommodation in various parts of the city to ‘bridge’ the time awaiting the issue of a Certificate of Occupancy.

The building sponsor seems to be deliberately holding up the closing of the building and we are unsure why this would be but it is causing distress to the prospective occupants. Our only conclusion is that the sponsor under-priced the units, hopes that we will all lose patience and cancel our contracts, so the units can be re-listed. This is of course only a supposition and we have no evidence that this is the case but we can come to no better conclusion at this point.

We have contacted the Attorney General’s Office, the Office of the Brooklyn Borough President, the Local NYC Councilor, The DoB Brooklyn Borough Commissioner.

We are looking for any means to get our plight out into the public domain to try to speed up the long-delayed closing.

I think this puts a slightly different light on the ‘rosy’ picture of Vinegar Hill painted in the NY Times article.

Related:
{185 York Street Buyers Still Waiting to Move In, 13Feb2013}
{StreetEasy listing}
{185york.com}

01/08/15 4:40pm

MNS, the Brooklyn real estate firm published their December 2014 Brooklyn Rental Market Report today (along with their Manhattan Rental Market Report). Andrew Barrocas, CEO of MNS, notes that rent prices in Brooklyn decreased slightly to $2,666.88 in December 2014, from $2,677.19 (0.39%) in November 2014, however since December 2013, a 3.08% increase was observed with prices increasing from $2,587.23. Listing inventory increased substantially by 9% from 2,879 unit listings in November 2014 to 3,148 in December 2014.

The largest percentage increase in rent prices (among material sample sizes) was seen in Studio units in Downtown Brooklyn at 10.57%. The largest percentage decreases were seen in Studio units in Bay Ridge and Greenpoint, at 11.94% and 12.88%, respectively.

brooklyn_market_dec_14

Some other highlights of the report include the following:

  • Rent Prices in Brooklyn decreased slightly from 2,677.19 in November to $2,666.88 in December, a 0.39% drop
    • Since December 2013 rent prices have increased 3.08% rising from $2,587.23 to $2,666.88 in December 2014
  • Listing inventory increased substantially by 9%, from 2,879 unit listings in November 2014 to 3,148 in December 2014
  • The largest percentage increases in rent prices since November 2014
    • Studio units in Downtown Brooklyn rose 10.57% from $2,361 in November to $2,611 in December
  • The largest percentage decreases in rent prices since November 2014
    • Studio units in Bay Ridge decreased by 11.94% from $1,458 in November to $1,284 in December
    • Studio units in Greenpoint decreased by 12.88% from $3,012 in November to $2,624 in December
  • The largest annual upward shift in rent prices
    • Average rent increased 15.7% in Boerum Hill from $2,667.65 in December 2013 to $3,088 in December 2014
  • The largest annual downward shifts in rent prices
    • Average rent decreased by 7.4% in Williamsburg from $3,461.62 in December 2013 to $3,204.51 in December 2014
  • Dumbo two-bedroom units have increased by 12.32% since December 2013, rising from $5,153 to $5,788

In Dumbo, although the overall monthly average increased slightly by 0.49%, overall annual average rental prices increased by 5.7%, largely driven by a 12.32% growth in 2 bedroom apartment prices. In Dumbo for December 2014, studios were $2,880 (vs $2,955 in November 2014), one bedrooms $4,043 (vs $3,943 in November 2014), and two bedrooms $5,788 (vs $5,751 in November 2014). Here are the Dumbo price trends over 13 months for studios, one bedrooms, and two bedrooms:
dumbo_brooklyn_market_dec_14

For full report, go to www.mns.com/brooklyn_rental_market_report

Previously:
{October 2014 Brooklyn Rental Market Report}
{July 2014 Brooklyn Rental Market Report}
{May 2014 Brooklyn Rental Market Report}
{March 2014 Brooklyn Rental Market Report}
{January 2014 Brooklyn Rental Market Report}
{November 2013 Brooklyn Rental Market Report}
{October 2013 Brooklyn Rental Market Report}
{July 2013 Brooklyn Rental Market Report}
{May 2013 Brooklyn Rental Market Report}
{Brooklyn Rental Market Report (Year End 2012)}
{October 2012 Brooklyn Rental Market Report}
{September 2012 Brooklyn Rental Market Report}
{June 2012 Brooklyn Rental Market Report}
{May 2012 Brooklyn Rental Market Report}
{April 2012 Brooklyn Rental Market Report}

01/07/15 3:00pm
50 Bridge Street before restoration

50 Bridge Street before restoration

50 Bridge Street after restoration

50 Bridge Street after restoration

The 50 Bridge Street building announced the completion of their restoration project last month. After 2 years and $3.5million, the building underwent an exterior renovation project. The building’s previous “green and purple” painted bricks were restored to their original brick color. The new look

In a statement from the Bridge No. 50 Condo board, they said:

“We are thrilled by these significant renovations that have resulted in the restoration of much of our building’s original character. The building is a beautiful example of 19th century industrial architecture and we have worked closely with Landmarks throughout this project. We have a wonderful community of supportive neighbors, and we are pleased to see the surrounding area tastefully and appropriately developed as well. We would also like to thank Cowley Engineering and Flag Waterproofing and Restoration for all their efforts in leading this project to its successful completion”.

Bridge No. 50 is a 58-unit luxury condominium building located in Dumbo, Brooklyn. Originally constructed in 1894 and redeveloped as a condominium in 2004, the building is located in Dumbo’s historic district and was once an important part of Alexander Kirkman’s soap manufacturing company.

Bridge No. 50 is surrounded by other luxury residences including 220, 205 and 192 Water Street, Kirkman Lofts, and the soon to be completed Waterbridge 47, 177 Front and 200 Water. New boutiques and high-end specialty businesses such as Valrhona Chocolate and Mouth Indie Spirits + Wine have recently opened on Water Street, and retail space for restaurants and schools, such as the Kirkman Academy are planned for developments currently under construction.

01/07/15 2:00pm

View of Manhattan Bridge from Washington Street

Now that January has come, we’re back at work from the holiday season. I took a break from posting here to take care of family matters as my father passed away. Don’t mean to get personal, but life happens and we all have to take care of our loved ones first. I’ll be posting more regularly (i.e. daily) as there have been lots of changes in the neighborhood in the past month already (such as 177 Front Street development, Galapagos Art Space left, 50 Water Street opened, development progress at Brooklyn Bridge Park, etc).

Thank you for sticking with us, and if you have any questions, concerns, or ideas about DumboNYC.com and our neighborhood in general, please email me at DumboNYC[at]gmail.com.

We’re also looking for contributors (especially residents new and old in Dumbo). We have some great correspondents now gathering info but also asking for writers to contribute regularly.