Big apartment building proposed for Park Slope site

An application has been filed to turn a South Slope linen supply factory into hundreds of apartments. Arrow Linen Supply Company is seeking new zoning to develop a nine-story, 247,000-square-foot residential project at 441 and 467 Prospect Avenue. The proposal will test the appetite for new housing of rookie City Council member Shahana Hanif, who […]

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Zero deals signed for $4M homes in Brooklyn last week

Brooklyn’s luxury market has a case of the winter blues. Last week was another slow one for the borough, with just 10 contracts signed for homes asking $2 million or more, according to Compass’ weekly report on luxury deals. Only eight were inked the previous week. Townhouses dominated the dealmaking both in volume and price, accounting for all but one of the properties to go into contract last week. The most expensive home was 188

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Billy Macklowe, A&E scored biggest outer-borough loans

The 10 biggest real estate loans in New York City’s outer boroughs last month fetched $535.5 million. They included financing for the biggest development site in Park Slope, an Astoria co-op with a checkered financial history and part of a 14-building portfolio recently sold by the LeFrak Organization. Half of the loans were made in Brooklyn, while Queens had four and the Bronx had one. Last year, November’s biggest loans totaled $749 million. Here are

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In election week, Olympia Dumbo emerges as winner

In last week’s election, more people voted in Suffolk County than in Brooklyn, which has twice as many people. Buyers in Brooklyn’s luxury housing market were similarly sleepy, signing contracts for just 14 properties asking $2 million or more. Weekly contract activity, unlike voting, fluctuates rather randomly, but both produce winners. In the Brooklyn residential market, the most expensive unit to find a buyer last week was in a condominium familiar to readers: 30 Front

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TRD Pro: Brooklyn’s top neighborhoods for Q3 home sales

The following is a preview of one of the hundreds of data sets available on TRD Pro — the one-stop real estate terminal that provides all the data and market information you need. Third-quarter numbers are in, and Compass and Corcoran rule Brooklyn — at least across the borough’s 10 hottest neighborhoods. Despite a slowdown in overall volume, Brooklyn’s top 10 neighborhoods for home sales still saw buyers spend $1.8 billion across 1,300 recorded transactions

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Billy Macklowe lands $143M loan for Park Slope project

Billy Macklowe has plans and tenants in place for his Park Slope project. Now, he has construction financing, too. The William Macklowe Company and Senlac Ridge Partners landed a $143 million loan for the development at 120 Fifth Avenue in Brooklyn, the New York Business Journal reported. Sumitomo Mitsui Trust Bank provided the financing. Cushman & Wakefield’s Gideon Gil and Lauren Kaufman represented the two borrowers. The loan is the latest sign of progress for

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TRD Pro: NYC’s busiest areas for new building work

The following is a preview of one of the hundreds of data sets that will be available on TRD Pro — the one-stop real estate terminal that provides all the data and market information you need. Brooklyn developers reached for the sky in the first half of the year, with the borough accounting for seven of the city’s 10 busiest neighborhoods for new building filings. Recently rezoned Gowanus topped the list by a wide margin,

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HUBB NYC continues 421a spending spree, buying Park Slope building

One of New York City’s biggest buyers of 421a-eligible properties has added another to its portfolio. HUBB NYC acquired a 13-story, 63-unit residential and retail building at 223-225 4th Avenue in Park Slope from Greystone Development for $40 million, according to property records filed Friday. A Cushman & Wakefield team consisting of Dan O’Brien and Adam Spies brokered the Brooklyn deal. Commercial Observer first reported the sale. Greystone put the 48,200-square-foot, mixed-use property on the

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