What beautiful Sunday morning on Court Street! Stop by @buttermilkbklyn enjoy a lovely Brunch and take a look at some of our new listings!☀️😋#realestatenyc #courtstreet #buttermilkchannel#brooklyn — at Buttermilk Channel.
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.
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.
Ah! Brooklyn… With its glorious tapestry of people, neighborhoods, and geography, we’ve long been proud to call it our home. But like any vibrant, active community, our borough is quickly growing and changing.
If Brooklyn were an independent city, it would be the 4th most populous in the United States. Only the 5 NYC boroughs combined, Los Angeles, and Chicago have more people. Geography is of course a factor, the proximity to Manhattan is a major attraction. However, Brooklyn has grown into its own distinct cultural mecca. The borough offers a variety of musical, artistic, and gourmet experiences that are as diverse as its neighborhoods. There are also acres of parks and miles of shoreline to explore.
It’s really no surprise that more and more people want to live in Brooklyn, and with that desire, the effects of supply and demand become more deeply felt. According to a recent Business Insider article by Melia Robinson, “[…] as real estate prices in trendier neighborhoods continue to climb, more and more city slickers are taking a second glance at the ‘original Gold Coast,’ as locals call the area. With phenomenal public schools, copious outdoor spaces, restaurant row, and affordable housing, Bay Ridge has alot to offer.”
Originally developed as an oceanfront resort area for the wealthy, Bay Ridge is an extremely scenic neighborhood. The neighborhood offers breathtaking water and Verrazano Bridge views as well acres and acres of green space, playgrounds, skate parks, and the stunning 4.5 mile Shore Promenade. Bay Ridge is an eclectic mix of mansions, limestones, rental, co-op, and condo buildings. From a real estate perspective, Bay Ridge has it all and the market has taken note.
In the first quarter of 2014, more 2-bedroom homes were sold in Bay Ridgethan any other part of the borough. According to Robinson’s Business Insider article, “Both the median home sale price and median monthly rent are up 14% year over year, and rents are up 30% over two years.” Yet even with the price climb, Bay Ridge offers more space and bang for the buck then trendier neighborhoods like Williamsburg and Park Slope whose median sales of $1.4 million and $1.35 million respectively, make Bay Ridge’s median sale price of $656,000 look like a humble steal.
As more and more people become privy to this bargain and choose to leave behind pricier neighborhoods, the face of Bay Ridge is slowly starting to change. As with all Brooklyn neighborhoods that are seeing an influx of outsiders, locals are grumbling that the gentrification is destroying the community. The jury is still out on the “destruction,” but the community is certainly changing as higher priced businesses that offer ‘artisinal’ and ‘locally sourced’ buzzword items sprout up on Bay Ridge thoroughfares. In recent years, artisanal sausage and craft beer bar Lock Yard and the organic wine bar Owl’s Head saw their openings marred by protesters. However, old and new locals alike are keeping new local businesses such as these packed and flourishing.
Awaye Realty salesperson Haydee Alicea is a neighborhood expert who has sold millions of dollars worth of real estate in Bay Ridge and feels that “more people are choosing Bayridge over many other neighborhoods in Brooklyn because of its calm, slow-paced feel and the tree-lined blocks, water views off of the Shore Road area, and the parks. The sales and rentals of apartments and houses have grown over the last couple of years and the prices have increased as well. People that want to stay away from the hustle and bustle of Manhattan or Downtown Brooklyn opt for the Bay Ridge area for tranquility and calm. The multitude of nightlife and dining options doesn’t hurt, either.”
If this trend continues, prices will climb fast. If you are considering buying or selling property in Bay Ridge, now is the time! For more information, call 718.488.0800 and speak to a neighborhood expert today.
To read Robinson’s Business Insider article, go to http://www.businessinsider.com/young-people-moving-to-bay-ridge-brooklyn-2014-6?op=1