Quicklinks: New York Daily News & Crains

September 7, 2013 by missheather
Filed under: 11222, Gentrification, Greenpoint, Greenpoint Brooklyn, Greenpoint Magic

As exclusively reported by the New York Daily News. Interesting quote/teaser:

“We’ve been working on this for years,” said Councilman Steve Levin (D-Greenpoint), who has been pursuing the park since he took office four years ago. “It’s nice we got this done before the mayor left office.”

…But Levin acknowledged one flaw in the plan: There is no money currently budgeted for construction of the $14 million park. And the city is banking on getting at least $8 million from the sale of air rights to an adjacent parcel at 77 Commercial St., where a 40-story tower would be built if approved by the City Council.

A few things to consider:

1. Perhaps there would have been money available to develop this space had the city not elected to lower the asking price? The original asking price was $12,000,000. However, in defiance of the overall trend hereabouts (skyrocketing property values), the city struck a deal for $8,000,000. Why?

2. 77 Commercial Street was represented at the last ULURP meeting by representative of Greenberg Taurig which, I noted, is a lobbyist. This is rather interesting when one considers the following:

Fascinating, isn’t it?

Closing on a related note, do take a moment to read this article from Crains regarding the onrush of plans being filed by developers so as to get them processed before Bloomturd leaves office. Here’s a teaser:

…Among the independent projects before the department, one of the biggest is Two Trees Management’s plan for the 11-acre Domino Sugar site in Williamsburg, which was already rezoned once, in 2010. The developer has decided to take the old plan, rows of 30- and 40-story towers, and replace it with a wild design of geometric buildings reaching as high as 60 stories, but that would allow more open space and light into the parcel.

The scheme deviates considerably from what Ms. Burden spent years crafting up and down the East River waterfront, and Two Trees is struggling to bring her around to its proposal, according to sources. Two Trees had hoped its 2,200 apartments on the site would have been certified by June—the first step in the six-month review process. Now, with negotiations ongoing, the developer hopes for a September certification. That would still leave enough time for Ms. Burden and the planning commission to approve the project, but it would fall to local Councilman Stephen Levin to shepherd Domino through the City Council next year…

Did I mention that Mr. Levin received a donation from Raymond Levin? This fellow just happens to be an attorney representing Two Trees Management?