Development Opp: Sexy on Lexy
We think Lexington Avenue has tons of potential for condo conversion. Maybe not this year, but at some point, it’ll hit people that the wide street (and accompanying great sunlight) and great stock of old commercial buildings are a perfect recipe for a taste of Dumbo/Soho in Brownstone Brooklyn. At this point, the safer bets…
We think Lexington Avenue has tons of potential for condo conversion. Maybe not this year, but at some point, it’ll hit people that the wide street (and accompanying great sunlight) and great stock of old commercial buildings are a perfect recipe for a taste of Dumbo/Soho in Brownstone Brooklyn. At this point, the safer bets on Lexington are probably further west in the shadow of the Broken Angel, but this listing from Massey Knakal certainly gets the juices flowing. The seller (in this case a church) has had the properties on the market for a few weeks and would prefer to sell them as a group. We’re loving the rounded windows of the warehouse space and the two garages next door that are part of the offering scream FAR. The three buildings are on a 7,200-square-foot lot and carry with them 15,840 of buildable space. Unless our calculator’s broken, that comes out to about $130 per buildable foot. Hardly a steal in this area, but we think the architectural merits of the warehouse merit some kind of premium.
749-753 Lexington Avenue [Massey Knakal] GMAP
Hey buggy wally, thats life. just swallow it. Before you came to, someone else was annoyed at what you were about.
I am so looking for an old warehouse just to make into a nice loft living space for myself, say 1 or 2 stories. Say for like $300K. Any clues where?
In Brooklyn… about 10 years ago.
Camden is a good suggestion. Or maybe Detroit.
When will the endless speculation and predatory money grubbing attitude of this site ever stop? Everything in this world does not evolve around you brownstoner and your real estate cronies. Some people actually just want a place to live! Call me a bleeding heart but this neighborhood, Clinton Hill – where I grew up and have been a resident for the last 40 years- and others like it, were just fine before all you incredibly uncool white dudes and buggaboo families came from the suburbs and Manhattan decided to “discover” it like Columbus supposedly “discovered” America and claim it as your own. You don’t own this piece of the rock, my friend. You, and the others like you in condo-heaven are just passing through (and I mean this in the literal and figurative sense). Hopefully, I won’t have to hear this earful of condo crock when I get to heaven, unless of course there is money to be made on abandoned buildings somewhere…By the way, my parents bought their brownstone for $12,500 in 1968, so read it and weep.
and another thing: stop lying about how much you love diversity, how other neighborhoods are “too white”. I have never been able to figure out what white people mean when they say this sort of thing. Hypocrites. (Have you ever noticed how segregated Waverly Park on Washington between Dekalb and Lafayette is during certain hours?) How many black or “other” friends do you have?! I remember when this neighborhood was supposedly “too black” and it was the greatest pleasure for me as an African American and other non-phony white people who chose to live here. I didn’t feel as though I was just background decoration for your fake liberal sentiment of what it means to live in community with the “other”. In the old days I was a real person with humanity and connection to the people and the idea of place as an anchor and home, not just an investment. I think that we have reached a tipping point, at least I think I have. I can’t believe I just wrote a post to the brownstoner! My, i must be angry…and really tired of reading this stuff. My heart really aches sometimes for what New York has become.
I am so looking for an old warehouse just to make into a nice loft living space for myself, say 1 or 2 stories. Say for like $300K. Any clues where?
Camden, NJ
Anon 1:27, that building is in Bedstuy not clinton hill.
I am so looking for an old warehouse just to make into a nice loft living space for myself, say 1 or 2 stories. Say for like $300K. Any clues where?
I am so looking for an old warehouse just to make into a nice loft living space for myself, say 1 or 2 stories. Say for like $300K. Any clues where?
If all is true, I agree with you brownstoner. Nevermind the premium. Buying in bulk, in this market and hood, should allow the buyer plenty of room to negotiate. But they will have to be able to hold on ’til next boom. Could be 10-20 years. For now, rental income will be primarilly industrial.
Decent long term investment opportunity. Negotiate aggressively. Combine those garages.
Change in this area is accelerating so fast that I can’t keep track of it all anymore. It use to occur at a manageable rate/human scale. I give up! Gentrification has finally won. The diversity that Clinton Hill residents so proudly claim is quickly slipping away. So long to affordable living. Que sera sera.