According to the The Brooklyn Bridge Park Development Corporation and New York Post, close to 800 high-rise luxury condos and a hotel planned to support the BBP are on hold indefinitely. Also on hold are plans to renovate the Empire Stores warehouse and convert it to retail and cultural space. These development parcels that make up the condos and hotel development take up approximately 10% of the project’s 85 acre. Half of that is occupied by existing structures, such as the Empire Stores and 360 Furman Street (aka One Brooklyn Bridge condo). The proposed residential developments of the project plan included:

1. Pier 6: Two buildings built on the uplands of Pier 6 (near Atlantic Avenue) which would have added 400 units plus retail space.
2. One Brooklyn Bridge: The existing building on 360 Furman Street which adds 500 units, which has been on the market.
3. Pier 1: Hotel and Residential buildings on the site of the existing Cold Storage Warehouse buildings (above photo). The residential use could range between 150 and 180 units and the hotel could range between 170 and 225 rooms. The number of hotel rooms would decrease as the number of residential units increased and vice versa. However, the maximum limit for the site is a combination of 225 hotel rooms and 150 residential units or 170 hotel rooms and 180 residential units.
4. 1-11 John Street: The new building would be approximately 170 feet in height and contain up to 130 units.

According to the NY Post, “More than 1,200 luxury condos were slated to raise money to offset costly park maintenance. To date, only 447 have been built at the One Brooklyn Bridge Park complex near Atlantic Avenue. And only one-third of those have sold after hitting the market 20 months ago.” However, the Pier 1 construction has begun installing utilities on the site, and by February, “will be importing 60,000 cubic yards of fill and topsoil (enough to fill Boro Hall twice) by truck. This fill will be used to create the grading, including a 25 foot hill, on Pier 1. In early spring they will install finishes, including placing steps, building a gate house, laying top soil, and beginning playground construction. Pier 1 will turn green at the end of spring with the planting of trees and shrubs, and the laying of sod, turf, and ground cover. Paved pathways, benches, and railings will be installed in the fall.”

See more update information on the Brooklyn Bridge Park website. The Brooklyn Bridge Park Development Corporation invites all to a public meeting on Brooklyn Bridge Park’s financial model:

Thursday, January 29, 6:00 pm
Dibner Auditorium, NYU-Polytechnic University
5 Metrotech Center, Brooklyn, NY

Wonder how Dock Street Dumbo would look in this photo? (Photo by Josh Derr)

Our friends over at Brooklyn Heights Blog opined that Two Trees should donate the land on Dock Street as part of the Brooklyn Bridge Park to convince the community that they care about “preservation” and “quality of life” because “no matter what gets built there, it’s gonna suck.” Although a proposal not yet heard, and would be a grand gesture, but why would they ever do that? We credit Two Trees for most of the development of what Dumbo is today, but it’s not like anyone would just give land away for good will. If the Walentas’ do something like that, why not build on the site that’s 10 stories and increase the number of floors dedicated to the middle school? That would seem to satisfy the preservationists, residents, and developers (provided that it made fiscal sense). We know; it’s not that easy. Does anyone have any other out-of-the-box ideas?

In late November, the One Brooklyn Bridge condo sent updated pricing for new apartments:

• Open lofts with home offices over 1100sqft starting at $640,000
• 1 Bedrooms over 800sqft starting at $650,000
• 2 Bedrooms over 1300sqft starting at $960,000
• 2 Bedrooms over 1500sqft with Manhattan skyline views starting at $1,375,000
• 3 Bedrooms over 1400sqft with Manhattan skyline views starting at $1,377,000

The new pricing is approximately 10% lower than when we looked 15 months ago. They are also offering a shuttle service to and from the Clark Street and Borough Hall subway stations and to Trader Joe’s, a refrigerated grocery storage, new fitness center, conference room, indoor virtual golf and driving range, billiards/game room, and screening room. So much has happened in 15 months, including the banking credit crisis, which directly affected real estate transactions.

The NY Post reports today that one-third of the 449 unit building are sold or in closing after hitting the market. In September, 2008, we saw that 8 of the 10 most expensive condos in Brooklyn were from One Brooklyn Bridge. Since then, sales have probably been tough due to the economy and the uncertainty of the Brooklyn Bridge Park construction surrounding the condo building. But the Brooklyn Bridge Park Development Corp has reported that they’ve started construction and working to open an ice rink under the Brooklyn Bridge next winter. Time will tell if there is a market that includes these ‘amenities’ and price adjustments.

More:
{Trees Grow in Brooklyn, 29Dec2008, NY Post}
{One Brooklyn Bridge Update}
{onebrooklyn.com}

The Empire Stores have been deteriorating for a while and the scaffolding has been up for a year without evidence of any repairs. In an article from the New York Post last week, the mid-19th century Empire Stores on Water Street is listed as one of the 10 endangered buildings worth saving.

“Over the decades, they have been abandoned, flooded, vandalized, and torched. Owned by the State Parks Department, they’ve been studied (and neglected) since the late 1970s – even while David Walentas has totally redeveloped DUMBO. Surely something good can be done with this great space in one of New York’s hottest neighborhood? Perhaps the state should ask advice from Walentas.”

David Walentas of Two Trees Management held the rights for the redevelopment of the warehouse building in the 1980s, before the Empire State Development Corporation handed the site over to his rival Shaya Boymelgreen in 2002. Then in 2006, the state claimed that Boymelgreen did not move quick enough, and incorporated the plans for an arts venue as part of the Brooklyn Bridge Park. According to the BBP Project Plan (Page 14, PDF), the Empire Stores warehouses “would be rehabilitated and adapted for reuse with a mix of commercial and retail uses. The former warehouses would be rehabilitated to contain a mix of commercial, retail, and office uses that will complement the unique character of this industrial waterfront structure. Approximately 398,760 square feet of space would be provided by this development.” With political and funding controversies aside, it may take until 2012 to complete, but the final picture of the plan looks like it will have plenty for Brooklynites to enjoy.

{Brooklyn Park Presentation – Project overview and Design, (PDF) 30Jun2008}
{Brooklyn Bridge Park Development Corporation}

The corner ground level (or is it garden level?) retail space at Front and Jay Street, formerly occupied by ‘D’ Space Food & Restaurant and the short lived Marrakesh Express Restaurant is on the market for lease for $10,000 per month. According to the online listing by Rapid Realty, the space occupies 2,400 sq. ft. in ‘prime Dumbo’. The corner location does have visibility, with a location across from J Condo and Pedro’s Restaurant, and one block from the F train station at York Street. I can’t speak for the feasibility of a cheap food option there with the lease pricing offered, but it would be nice to have another low cost food option there. What would you want there?

A group of 100 or so residents from Youngstown, Ohio came to Dumbo on Friday morning to visit Jane’s Carousel. Joan Yanchick organized the visit after seeing Jane’s Carousel on CBS News Sunday Morning (video) in July. Jane Walentas, the wife of Dumbo real estate developer David Walentas, purchased the carousel for $384,000 in 1984 and spent 22 years rehabbing each piece. She wants to donate the carousel to the city and hopes to get it placed in the Brooklyn Bridge Park.

The current building doesn’t allow for regular rides due to space restrictions. But the Youngstown residents were given a ride on the carousel and were overcome with pure joy and nostalgia back in time when the carousel was in their ‘backyard’. That’s something we don’t see too often in NYC. Jane’s hope is to give the kids in NYC the carousel in their own ‘backyard’, the Brooklyn Bridge Park, with the same look of pure joy someday. Unrelated to the visit, The Jane’s Carousel’s new website was just launched at janescarousel.com.

Previously:
{YouTube: Jane Walentas’ Carousel, 21Jul2008}
{Jane’s Carousel Open For Season, 22May2007}
{The Carousel News Article, 19Jan2007}
{Experience Jane’s Carousel 12/8, 8Dec2006}
{A Chat With Jane At The Carousel Opening, 16Oct2006}

With few weekends of fall weather left, there are many events for families happening in and around Dumbo this weekend:

1) Harvest Festival

What: Harvest Festival, Presented by Brooklyn Bridge Park Conservancy, DUMBO Parents Organization, Galapagos Art Space
When: Saturday, Oct 25, 2008, 12:00 PM – 5:00 PM
Where: Brooklyn Bridge Park, Main Street section
Come down to Brooklyn Bridge Park for Fall planting, arts and crafts, and a Halloween party for the kids! (weather permitting)

• 12-2pm – Celebrate It’s My Park! Day planting bulbs with the Conservancy
• 2-3pm – Recycle your plastic grocery bags and crochet them into something useful
• 2-5pm – Pumpkin decorating, chalk art and kite decorating and flying
• 4-5pm – Kids, wear your Halloween costumes for a party in the park

More info: www.brooklynbridgepark.org

2) Rachel Trachtenburg’s Homemade World

What: Rachel Trachtenburg’s Homemade World
When: Saturday, October 25th, 3:00 pm
Where: Galapagos Art Space, 16 Main Street, Brooklyn, NY
Join Rachel Trachtenburg as she presents her new show, Rachel’s Homemade World. With a flowery set made by her Mom, Rachel will share some of her favorite activities such as audience sing alongs, puppet shows, interactive arts and crafts, environmental messages, and cooking segments complete with snack time! Arts and Crafts Goodies Supplied! So be ready to Get Creative! The Trachtenburg Family Slideshow Players have been touring the world with their colorful songs based on old slide shows found at yard sales and thrift shops. This family that plays together offers an exciting and homespun experience. Buy tickets here.

What: Seining Workshop for Kids
When: Saturday, Oct 11, 11:30pm – 1:00pm
Where: Beach in Brooklyn Bridge Park, Dumbo

Find out what lives in the waters under the Manhattan Bridge! Join experts from the Coastal Marine Resource Center and the Brooklyn Bridge Park Conservancy as we use a 30-foot seining net to catch fish and other remarkable East River creatures. Families and kids can take a good look at the fish before we release them back to their homes and keep a tally of our catch. We provide field guides, identification keys, and plenty of fun to go around. Space is available for 30 kids plus their parents/guardians. To reserve a place, e-mail Kara Gilmour, Education and Stewardship Coordinator.

For more info, go to www.brooklynbridgepark.org.

[UPDATE: Due to the weather forecast, tonight's benefit party at Pier 1 will be held at One Brooklyn Bridge Park (corner of Furman and Joralemon Streets). Please join us from 6pm-9pm for great food, music, and company in a beautiful -- indoor -- waterfront setting. Your contribution will help us bring more projects like Pier 1 to the park next summer. We hope to see you there.]

The Brooklyn Bridge Park Conservancy is having a benefit party on Pier 1 tonight (Sept 25), to raise funding for future programming and parks (like the interim park they created at Pier 1). They’ve made a lot of progress this year with the temporary Pier 1 park and the demolition of the old piers along the river. In 2007, they brought the floating pool and continue to organize educational programming for kids, Movies with a View, and art exhibitions…all free for the public. Support the Conservancy by attending the benefit party or make a donation online.

When: Thursday, September 25, 6:00-9:00 pm
Where: at Pier 1, Brooklyn Bridge Park One Brooklyn Bridge Park (corner of Furman and Joralemon Streets)

for a benefit party to say goodbye to SUMMER ’08 @ PIER 1 and help us get started on Summer ’09.

Enjoy:

• Fancy Food and Drink
• Live music from Matt Munisteri (“Bands like this are why you move to New York” – The Village Voice)
• A remarkable view of the harbor, the Manhattan skyline and all four NYC Waterfalls
• Brooklyn’s largest sandbox

TICKETS

Adults: $50 in advance/$60 at the door
Children: $20 in advance/$25 at the door
More details: brooklynbridgepark.org
Questions: Richard Loyd, 718-802-0603 x13

The Real Deal’s September 2008 issue looks at the most expensive condos in the outer boroughs of NYC. Brooklyn’s top condos start at $7 million plus for the One Main Street penthouse on the 14th floor in Dumbo as reported in May. David Walentas is renovating the 16th floor penthouse and into a three-story penthouse with roughly 6,000 square feet, and a private rooftop “observation deck.” The unique features are the four 15-foot-high clocks on each wall and dramatic views of the city. The plans have not been disclosed, but when all is done, the rumors are that the condo will sell for $30 million+, which easily tops the most expensive condo in Brooklyn.

The Real Deal’s Top 10 most expensive Brooklyn condos:

1. One Main Street, Dumbo, $7 million-plus*, full-floor, 3,200 square feet, no terrace, 3 bedrooms, 2.5 baths.
2. One Brooklyn Bridge Park, Brooklyn Heights, $6.96 million, four lower penthouse units combined, 6,145 square feet interior and 826 square feet exterior, 6 bedrooms, 5 bathrooms.
3. One Brooklyn Bridge Park, Brooklyn Heights, $6.19 million, two townhouses combined, 4,949 square feet interior and 839 square feet exterior, 6 bedrooms, 5 bathrooms.
4. One Brooklyn Bridge Park, Brooklyn Heights, $6.05 million, two lower penthouse units combined, 3,442 square feet interior and 1,900 square feet exterior, one bedroom, library, office, 4.5 bathrooms.
5. One Brooklyn Bridge Park, Brooklyn Heights, $5.35 million, lower penthouse, 2,687 square feet interior and 2,029 square feet exterior, 4 bedrooms, 4 bathrooms.
6. One Brooklyn Bridge Park, Brooklyn Heights, $5.15 million, two lower penthouses, 3,456 square feet interior and 1,903 square feet exterior, 4 bedrooms, 4 bathrooms.
7. One Brooklyn Bridge Park, Brooklyn Heights, $4.998 million, two apartments, 3,946 square feet interior (no additional information provided).
8. One Brooklyn Bridge Park, Brooklyn Heights, $4.575 million, lower penthouse, 2,191 square feet interior and 1,696 square feet exterior, 3 bedrooms, 3 bathrooms.
9. One Brooklyn Bridge Park, Brooklyn Heights, $4.45 million, lower penthouse, 2,452 square feet interior and 1,814 square feet exterior, 3 bedrooms, 3 bathrooms.
10. On Prospect Park, Prospect Heights, $4.4 million, 2,608 square feet, 72 square feet exterior, 4 bedrooms, 3 baths.