420 Gets Big In Long Island City, Block 420 That Is…

Lot 420!

There’s a lot of 420 in Long Island City, and there’s also block 420 in Long Island City. You know what else goes down on block 420? Maybe some 420, but definitely Gotham Center. The first tower has been smokin’ lonely on block 420 since 2 Gotham Center’s completion in 2011. But not any more, as the Gotham Center project nears completion. In the next part of our Jackson Avenue update, we checked out One and Three Gotham Center, aka 1 and 3 Three Gotham Center, aka 28-07 Jackson Avenue. Let’s take a look!

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5 Pointz Builds in Geographic Exclusion Area Without 421-a Tax Benefit. Damn!

Jackson Ave looking towards the Citibank Building.

Jackson Avenue, Long Island City. Once such a quiet and sleepy neighborhood until the mid-to-late 80s. That’s right around when One Court Square, aka the Citibank building, was completed. There it stood for years, with only Citylights (aka 4-74 48th Ave.) to keep it company. That all changed in the mid-2000s, when a spate of development, which continues unabated, flooded LIC with dozens of tall, mixed use buildings. RentCement toured Jackson Avenue, where part one of our series on Long Island City focuses on a major, in-progress developments: 5 Pointz.

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Visit the Hunter’s Point South Park Extension

Midtown view from Hunter’s Point South Park

South Park isn’t just in Colorado. New York City also has its own South Park, Hunter’s Point South Park to be exact. Although Hunter’s Point South Park has been around since August of 2013, the new extension, which opened on June 27th, offers amazing views of Manhattan, while providing much needed storm protection for the area. Let’s take a look!

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DoB Approves 383 Himrod Street Expansion and Loss of Cornice History

An architectural crime.

There’s an alarming trend happening in New York, and that’s the loss of our historical cornices. Cornices are those decorative horizontal features that adorn the prewar facade/roof corner. The latest tragedy at 383 Himrod Street serves as a grim reminder of the architectural consequences when cornices are removed for the sake of adding an extra story.

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371 Stockholm Street nabbed again by DOB while affordability remains aloof

Brooklyn’s latest plastic box…

371 Stockholm Street in Bushwick Brooklyn has been little more than a parking lot since the 1970s. Prior to that, “The German Presbyterian Ebenezer Church of Brooklyn” occupied the lot. But Bushwick isn’t Long Island, and space can’t be wasted on parking lots when there are residential towers to build. That said, here comes the latest market rate project sure to fuel the fires of gentrification in Bushwick, if it ever completes construction.

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Stop Work Order Halts Progress at 322 Menahan Street, Bushwick

322 Menahan Street, Bushwick Brooklyn.

In our latest venture into Bushwick, we came across 322 Menahan Street, a partially built structure that’s seen better days. Unfortunately for the community that must bare the eyesore, a partial stop work order has forced an end to construction. The 6 story, 13 unit project stretches from 375 Grove Street to 322 Menahan Street. At the time of our visit, the only activity was the local feline population.

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Roosevelt Island’s Open Space is Open For Business!

59th Street Bridge workin’ that “I am Legend” vibe…a view from the new Cornell Tech open space.

Before we jump back into our analysis of New York real estate, let’s talk about Roosevelt Island and Cornell University’s new open space! Roosevelt Island has gone through its fair share of changes over the course of history. Designed by The High Line’s architect James Corner, “the open space“, a large expanse of wilderness just south of the Cornell campus, is the island’s latest remarkable transformation. Let’s check it out!

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City View Tower Foundation Prep Work Underway

23-15 44th Drive
Nothing says progress like a vertical pile boring machine.

Oh how the mighty have fallen, from 1,000 feet to 768 feet to be precise. We’re talking about the Court Square City View Tower, once slated to become the first supertall outside of Manhattan. However, due to a FAA determination, the City View Tower will have to settle for merely being the first building taller than the 658 foot One Court Square, aka the “Big Green Citibank Building in Long Island City”.

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Affordable Housing Found in Downtown Brooklyn

210 Livingston Street
210 Livingston Street, an affordable housing/market rate project, should have views of 141 Livingston Street, otherwise known as Brooklyn Housing Court.

Yes, dreams do come true in Brooklyn, and so does affordable housing. The proof is in the pudding, located just outside the A/C/G Hoyt Schermerhorn stop. Out of a total of 375 total units, the 25 story project will contain 74 “affordable” units. The remainder are expected to be residential condos. As an interesting twist, the regulatory agreement filed in ACRIS states the owner receives a LIHTC (Low Income Housing Tax Credit) and a 421-a tax benefit. The same units can be applied to both tax programs to meet eligibitily requirements. This practice has been criticized as double dipping taxpayer dollars.

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