#unionstreet #smithstreet #carrollgardens #awayerealty #brooklynrealestate
#unionstreet #smithstreet #carrollgardens #awayerealty #brooklynrealestate
It is impossible to overlook the changing face of Brooklyn. As if overnight, a crop of high rises has sprouted along Flatbush Avenue. Downtown Brooklyn suddenly boasts a skyline that puts many American cities to shame, and the development of new residential and mixed-use properties is not slowing down. As the building boom continues, real estate speculation pushes deeper into the borough. Today, one would be hard pressed to find an area garnering more interest than our very own Gowanus.
Tucked between the affluent, in-demand brownstone streets of Park Slope and Carroll Gardens, the manufacturing-zoned area surrounding the Gowanus Canal is a potential goldmine for builders.
Whispers of a Gowanus rezoning have been heard for almost a decade. In 2008, the New York City Department of City Planning, under the stewardship of the Bloomberg administration, commissioned a series of cultural and environmental assessments to begin the Gowanus Canal Corridor Rezoning Project. This project would lift several plots of land abutting the Gowanus Canal from their current M-1 industrial zoning to allow for residential development.
The 2010 designation of the Gowanus Canal as a Superfund site stymied the city’s rezoning plan, but with the high stakes and big money involved, it did not stop the hopeful prospecting in the area.
Some of New York’s largest and most powerful real estate players now have skin in the Gowanus game. Alloy Development, Property Markets Group, Lightstone Group, Two Trees Management, Kushner Companies, Atlantic Realty Development, and Hudson Companies have collectively spent over $250 million snatching up Gowanus properties that were zoned for garages and industrial use.
There is, of course, an element of risk for those looking to delve into the Gowanus frenzy. Alloy Development’s properties at 234 Bond Street and 242 Nevins Street might be seized, under eminent domain, to install a sewage tank that would aid in the Gowanus Canal clean up. Is this very likely? No one knows.
It’s not all doom and gloom. Lightstone Group’s Gowanus acquisition is now 365 Bond Street; a 70% leased, 430-unit luxury rental building with studios starting at $2500 per month. Construction is underway at adjacent 363 Bond Street, which Atlantic Realty Development acquired in 2015 for a cool $75 million (along with plans for a 12-story, 268-unit rental building).
Surely the risk must be worth the reward. How else can we explain the involvement of some of the biggest names and power brokers in real estate? With Mayor de Blasio’s self-imposed pressure to build more affordable housing, it seems that rezoning along the Gowanus is all but inevitable.
Want to get in on the fun? Check out our listing at 233-239 Nevins Street.
Follow these links to some great stories about the history, science, business, and future of the Gowanus Canal:
Gowanus Canal Superfund Timeline, 2013
Gowanus Canal Corridor, Columbia University, 2008
Gowanus Canal Corridor Rezoning Study, City of New York Dept. of City Planning, 2008
Gowanus Canal Corridor Rezoning Project Phase 1A Cultural Resource Assessment, City of New York Dept. of City Planning, 2009
It’s been a while since we’ve posted a blog, but Brooklyn real estate is booming and we’ve been really busy! However, as we reflect during this time of gratitude and giving, we can’t help but realize how thankful we are for all our success. Awaye Realty would like to share our sincerest wishes for joy, health, and peace to all our friends, customers, and clients. We thank you for your loyalty and support throughout the year.
This year, we not only had a banner year in real estate sales and rentals, but also welcomed several new buildings to our property management family. We hope to surpass their every expectation in the coming New Year.
It hasn’t all been toil. In fact, we just finished celebrating the season with the BNYMLS and Brooklyn Board of Realtors at the El Caribe Country Club. We danced, and drank, and played white elephant with our colleagues. A wonderful time was had by both the Awaye Realty Sales and Management teams.
Best of all, the event collected so many toys for the Children of Bellevue Hospital that Rich Schulhoff, CEO of BBOR, had to rent a large van to bring the gifts to the hospital. He told us he was privileged to play Santa and that the entire hospital staff came out to help distribute the toys to the children. We are proud to have been a part of such a wonderful venture.
We hope that you stay warm and merry this holiday season and wish you all the best!
The Awaye Realty Team
With its vibrant culture, fabulous schools, charming streets, and proximity to Manhattan, the Carroll Gardens/ Cobble Hill area has long been a draw for people from all over the world. Now more than ever, everyone wants to own a piece of our backyard. If you live in brownstone Brooklyn and have ever considered selling your home, THIS is the time!
We have been selling everything we list, and within weeks! We just sold 201 Huntington Street (2 family townhouse) and 228 Clinton Street (4 family brownstone) for all cash. We sold 16 3rd Place (2 family brownstone) in 2 weeks for $350,000 above asking price.
The special advantage that Awaye Realty has over its competition is the fact that we are in Carroll Gardens. Customers go right to the source because they know that ease of access is one of the keys to an expedient sale. Also, we know how to price and market properties to sell for the highest price in today’s market. We know our product , our customers’ needs, local property values, and the financing options available for these mega dollar sales.
Carroll Gardens is our home. Stop by and visit. You may want to stay a while.
We are proud to announce that after only three weeks of marketing, Awaye Realty procured a buyer for 16 Third Place in Carroll Gardens. The seller was elated at the final
sale price which exceeded the asking price by $350,000.
Multiple buyers counter-offered to create a competitive atmosphere, which brought about the outstanding price for this brownstone fixer upper.
Both buyer and seller echoed good sale and congratulation to one another. The magnetism of Carroll Gardens has a strong pull on buyers looking to join this growing and vibrant community, and neighborhood properties are extremely sought after.
It’s been a while since our last entry, and it’s because we’ve been extremely busy. Now that we are officially in our eleventh year, we’ve finally taken a moment to sit back and celebrate!
President of Awaye Realty, Arlene Waye , organized a fete that would not soon be forgotten.
Arlene’s good friend and owner of the Tenuta Torciano Vineyards of Tuscany, Pierluigi Giachi, offered us an intimate wine tasting. Under his expert guidance, we sampled over a dozen wines. As the wine flowed, we indulged in decadent antipasti, fragrant truffle oils, and well-aged balsamics. Arlene’s husband Jim personally prepared lasagna for over eighty people!
Happy and full, we agreed that in a competitive industry such as real estate, we are fortunate to work with such enthusiastic, professional, and above all, warm colleagues. It was an amazing experience and we are already looking forward to our 15th Anniversary in 2018.
In other news, yesterday we rolled out the first phase of our new and improved website. We are proud to have a much more intuitive site that is now an even better resource for our customers. The new awayerealty.com offers THOUSANDS of Brooklyn, Manhattan, Bronx, Queens, and Staten Island listings… all in one place. Visitors can now browse not only Awaye Realty’s exclusive real estate sales, commercial, and rental listings, but also every listing provided by our fellow members of the Real Estate Board of New York (REBNY), Brooklyn Multiple Listing Service (BNYMLS), and Staten Island Board of Realtors (SIBOR).
Aside from everything that is available in the New York City real estate market, awayerealty.com offers a wealth of information about the intricacies of buying and selling your home or any other type of real estate, Brooklyn neighborhood biographies, definitions of common real estate terms, and much more. We invite you to browse around!wse not only Awaye Realty’s exclusive real estate sales, commercial, and rental listings, but also every listing provided by our fellow members of the Real Estate Board of New York (REBNY), Brooklyn Multiple Listing Service (BNYMLS), and Staten Island Board of Realtors (SIBOR).
We will keep you informed about Phase 2, but we anticipate going live with that sometime in April. Clients will be able to more seamlessly browse listings as well as create their very own accounts and personal folder of listings that interest them. We expect that the new awayerealty.com will deliver a smooth and valuable real estate experience for our visitors.
As always, we are busy matching our customers with their dream homes. As the weather gets warmer, the real estate market tends to heat up. There’s a lot of excitement in the air at our 522A Court Street office.
Many of you will soon be receiving out spring promotional postcard in the mail. If not please call us at 718.488.0800 to learn about our limited time 4% fee for full service marketing and representation of your real estate property.
The Awaye Realty family thanks you for your patronage. Without all of you, where would we be?