Brooklyn Properties, Brooklyn Real Estate, Brooklyn Sales, Gravesend, Real Estate, Uncategorized

New Listing: 2165 West 10th Street

2165 West 10th Street, Brooklyn NY 11223

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Incredible Gravesend Opportunity!
Perfect for investor or primary residence!

This spectacular 1,600 square foot TWO FAMILY brick home sits on a
2,500 square foot lot.
This home features 5 bedrooms and 2 bathrooms, full unfinished basement
with laundry area, shared driveway, large front porch and backyard.

1st floor consists of 2 bedrooms, 1 bathroom, eat-in kitchen and living room
2nd floor consists of 3 bedrooms, 1 bathroom, eat-in kitchen and living room

This house has GREAT potential for the PERFECT home or investment property!

Building size: 1,600 Building dimensions: 20’ x 40’
Lot size: 2,500 Lot dimensions: 25’ x 100’
R5 zoning
Residential FAR 1.25
Facility FAR 2
Allowed usable floor area 3,125
Taxes: $5,921/annual

Great location; close to transportation (N Train) (B1 & B4 buses), shopping, dining and local shops!

 

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Brooklyn, Brooklyn Properties, Brooklyn Real Estate, Brooklyn Sales, Dyker Heights, Real Estate, Uncategorized

OPEN HOUSE: 1441 76th Street

Come Join Us at OUR…..
OPEN HOUSE this Sunday, 1/27 from 1:30-3:00PM
1441 76th Street

Gorgeous CUSTOM one family home in the HEART of Dyker Heights!
Features: 3 bedrooms, 2 bathroom, -zoned central air, radiant heated floors, stainless steel appliances package, Anderson windows and doors, full finished basement and large backyard!

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Uncategorized

Just Sold: Carroll Gardens Brownstone

54 1st Place
54 1st Place, Brooklyn NY 11231

We are proud to announce that after only one week of marketing, Awaye Realty provided an all cash buyer for 54 1st Place a 5-Family Brownstone in Carroll Gardens. The seller was ecstatic at the final sale price which was also the asking price.  Multiple buyers counter-offered to create a competitive atmosphere, which brought about the outstanding price for this gorgeous brownstone.  Congratulations to both the buyer and seller, they realized that this was the perfect opportunity for an outstanding sale and purchase.  The charm of Carroll Gardens has a strong pull on buyers looking to join this vibrant community on the rise; properties in the area are extremely desirable.
Values continue to rise with the tremendous growth and redevelopment of this beautiful neighborhood.

Brooklyn, Brooklyn Apartments, Brooklyn Real Estate, Brooklyn Rentals, Carroll Gardens, Gowanus, Gowanus Canal, Gowanus Canal Corridor, Gowanus Canal Rezoning, Gowanus Canal Superfund, Gowanus, Brooklyn, Real Estate, Uncategorized

Gaga Over Gowanus

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.

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Gowanus Canal, looking north from Union Street Bridge

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:

The Gowanus Gamble, The Real Deal, 10/01/16
City Hall Plans to Rezone Gowanus[…], The Real Deal, 08/02/16
Gowanus Canal: Cesspool of Dreams, Newsweek, 11/28/15

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

Brooklyn, Brooklyn Apartments, Brooklyn Condos, Brooklyn CoOps, Brooklyn Properties, Brooklyn Real Estate, Brooklyn Rentals, Carroll Gardens, Cobble Hill, Real Estate, Uncategorized

AWAYE REALTY MANAGEMENT, LLC CELEBRATES 10 YEARS OF SUCCESS IN REAL ESTATE SALES AND PROPERTY MANAGEMENT- SERVING HUNDREDS OF BROOKLYNITES AND NEW YORKERS EVERY YEAR

This month Awaye Realty Management, LLC celebrates its 10 year anniversary as one of Brooklyn’s premier providers of real estate and property management services. Based out of Carroll Gardens, Awaye Realty has weathered the housing and financial crash of the mid-2000s and has prospered despite the difficult economic climate for small businesses. Awaye Realty attributes its success to a heavy investment in technology and a staff of seasoned professionals.

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“We are celebrating this amazing 10-year milestone by re-launching the website for the sales arm of our company,” says principle and founder Arlene Waye. “We strive to be a resource for our clients, and the new awayerealty.com will offer our visitors the ability to search over 20,000 listings in Brooklyn, Manhattan, Staten Island, and the Bronx.” A proud member of the Real Estate Board of New York (REBNY) since the start, Awaye Realty is also a member of Multiple Listing Services in Brooklyn, Manhattan, and Staten Island, which also feed their site.

Arlene Waye founded Awaye Realty Management, LLC in 2003. Prior to this, Ms. Waye held the position of Vice President of Operations for a major Brooklyn developer for sixteen years. She was employed in the capacity of real estate broker, property manager, and CFO, and was responsible for the operation of his real estate property management and development portfolio. Ms. Waye has been instrumental in the construction, management, conversion, and development of many condo, co-op and rental projects. She works hand-in-hand with developers creating offering plans, Schedule B’s, and consulting on project finishes. Ms. Waye then sells the projects, and continues to manage them. “My background as a developer’s broker and property manager allows me a unique insight into the real estate market, that’s a real edge for our clients and one of the secrets to Awaye Realty’s success,” says Ms. Waye.

Awaye Realty was the exclusive leasing agent for the former Watchtower properties at 6-10 Clark Street and 169 Columbia Heights (The Standish), where Awaye Realty Management also oversaw an extensive renovation of the building. The company also handled the renovation and conversion 26 and 34 Butler Place Condos, 172 Sterling Place Condos, and many others. Awaye Realty Management was also responsible for the renovation and conversion of 505 Court Street (Court Street Lofts) from a rent-stabilized building into a thriving luxury condo project. Arlene Waye was instrumental in the conversion and rehab of the adjacent property at 204 Huntington Street (Hunt Lofts) from the former Borden’s Candy Factory into a 60-unit luxury loft rental building. More recently, Awaye Realty Management overhauled the property at 149 Marine Avenue into one of the premier luxury cooperatives in Bay Ridge.

Awaye Realty Management, LLC offers a full range of real estate brokerage and property management services. The company has a proven record of success in selling and leasing both commercial and residential property, and is offering a reduced commission through February to mark their 10-years of business success. Call 718.488.0800, or visit them on the web at www.awayerealty.com for more information.

For property management information, visit www.awayemanagement.com, or call 718.222.9840.

Brooklyn, Brooklyn Apartments, Brooklyn Condos, Brooklyn CoOps, Brooklyn Properties, Brooklyn Real Estate, Brooklyn Rentals, Carroll Gardens, Cobble Hill, Mortgage Rates, Real Estate, Uncategorized

Rags to Riches

In September 2009, Awaye Realty Management, LLC took over the management of two 18-unit buildings at 427 and 433 Dean Street. At the time, rents were at a minimum and credit-worthy tenants were unknown to the building.
427-433Dean
In November 2012, the buildings were sold for a record price of $8.7 million. This can be directly attributed to the management techniques of Awaye Realty Management, and the leasing procedures of Awaye Realty. Together, we substantially increased the value of the buildings for both the landlord and the tenants.

Awaye Realty Management was responsible for not only maintaining the properties, but for giving them a facelift, as well. We encouraged renovations of all apartments that became vacant. Units were cleaned, painted, and equipped with top-of-the-line appliances and finishes. This created a wealth of Park Slope rental units that are on par or beyond anything else on the market in the neighborhood. Naturally, this was reflected by a much higher rent roll.

Awaye Realty was able to successfully market vacant units, and fill the buildings with qualified, quality tenants. We reduced apartment vacancies, eliminated rent loss, drove additional creditworthy renters to the buildings, expedited leases, and removed financial and credit risks on new tenants.

427-433 Dean Street has been acquired by an investment firm that pored over the numbers for months prior to making their purchase. Awaye Realty facilitated the sale, and we are proud to say that all parties walked away happy.