111 Lawrence Rising
[nggallery id=”25116″ template=galleryview] After many months of excavation and shoring, the Clarett Group’s massive tower at 111 Lawrence Street is starting to rise towards its ultimate height of 51 stories. Did you catch that? 51 friggin’ stories! (The proof is here.) At this point, it seems a pretty safe bet that the 491 units will…
[nggallery id=”25116″ template=galleryview]
After many months of excavation and shoring, the Clarett Group’s massive tower at 111 Lawrence Street is starting to rise towards its ultimate height of 51 stories. Did you catch that? 51 friggin’ stories! (The proof is here.) At this point, it seems a pretty safe bet that the 491 units will be rental when they come online.
Development Watch: 111 Lawrence Street [Brownstoner] GMAP P*Shark DOB
Digger, Not Much Else at 107 Lawrence [Brownstoner]
Clarett’s Big Plans on Lawrence Street [Brownstoner]
Development Watch: 107 Lawrence Ready for Next Stage [Brownstoner]
wow, so this will be brooklyn’s tallest, at least for a while…
Polemicist – the reason people moved to the cities was a massive farm crisis (dust bowl) – I do not know that is going to be happening again – I also pray that we do not see the deflation that the depression saw.
Additionally, the majority of Bronx developers/ll who built during the early 30’s – went bankrupt – look it up = fact
I will be bullish on rental housing when 1. It can be shown that the NYC economy can support 8m people with a depressed Wall St and 2. When rental housing can be bought or built at a price that is sustainable by realistic and sustainable rent rolls
fsrq:
You may remember a major component of the depression was people moving to the cities. There was a real building boom in NYC during the depression. Much of the apartment house districts of the Bronx were built during the 1930s, especially many of the art deco buildings.
If you have cash during periods of deflation and people still have jobs, building rental property is a great investment. The lease contract is set for a year, but every day each dollar paid to you in rent is worth more than it was the prior day.
Things were bad, but the real hurt was concentrated elsewhere in the country.
The DOB application lists the height as 514 ft. (Don’t expect high ceilings.) One Hanson is generally considered to be around 512 feet, although sources differ. So the heights should be quite similar.
This was planned to be a rental all along. Good to see it’s moving along. Hopefully it’s not hideous. Any renderings?
Walking around NYC, I always wondered who built ___X_____ building in 1931,2,3 during the height of the depression. Looks like another generation 75yrs from now will be wondering the same thing about todays buildings.
Will this be the tallest building in Brooklyn? One Hanson Place is only 34 stories….
A pretty safe bet indeed!