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Presently a parking lot for trucks, 1556 - 1560 Pacific hits the market. It's out near Troy Ave — Brooklynian

Presently a parking lot for trucks, 1556 - 1560 Pacific hits the market. It's out near Troy Ave

whynot_31
whynot_31
edited November 2014 in Crown Heights/Prospect Lefferts Gardens
http://www.terracrg.com/setups/1556-1560_Pacific_Street.pdf

1556 Pacific
1558 Pacific
1560 Pacific

around 14k BSF, for $2.675M

Comments

  • Dawndew
    Dawndew
    I suppose that area benefits most from developments and services along Fulton Ave. Will the Pacific Ave condo developers clustered around Washington reach that far East?
  • whynot_31
    whynot_31
    edited November 2014
    Fulton Ave is the closest established business district, but it involves crossing Atlantic by going under the LIRR tracks. You would also have to deal with the nearby MTA bus depot and Albany Houses.

    ...none of which most renters or owners consider to be "benefits".
  • Dawndew
    Dawndew
    Well Troy is going to have to rise to the occasion.
  • whynot_31
    whynot_31
    The nice thing about Troy is that just about anything new to its retail scene would be an improvement over what is presently there.
  • transworld
    transworld
    I believe the MTA property is not a bus depot, but a repair shop for infrastructure (if you meant the location bordered by troy, albany, dean and bergen.
    It basically a warehouse and to my knowledge doesnt generate much vehicle traffic.
  • whynot_31
    whynot_31
    edited November 2014
    So noted. ....but I still believe people are not going to pay a premium to live near it unless they work there.
  • transworld
    transworld
    I know it seems crazy. In the particular block where the truck parking is, there has been few $1 million + deals in 2014.
  • whynot_31
    whynot_31
    I used think that this eastward building boom would fade out at Kingston Ave.

    ....it isn't.
  • nothinlikeabklyngirl
    nothinlikeabklyngirl
    While the Albany Houses and MTA repair shop are definitely not "benefits," I don't think they're as big a deterrent as one might think. If someone were to live on Pacific and do most of their shopping/commuting by way of Fulton, they'd never even have to see/pass either (though I have to say, as someone's who's lived half a block from the Albany Houses for the last four years, there's not much to "deal" with for nearby homeowners, and it doesn't seem to have hurt resale value either). 

    While they would have to cross Atlantic, they'd be just four blocks from the A/C at Utica and the C at Kingston-Throop. For those who are into such things, there's already a bike shop on Fulton between those two avenues and a coffee shop on Fulton at Kingston. Plus there are at least four brand-new empty storefronts on Albany and Pacific. And with a big new residential building going up on the corner of Fulton and Albany and another on the corner of Herkimer and Albany, the retail mix will most likely continue to change. I don't think a builder would have too much of a problem getting renters or owners.
  • whynot_31
    whynot_31
    Yes, Fulton and between Kingston and Utica is being rapidly filled up with businesses.

    Of the three things mentioned (depot, Albany Houses, and Atlantic Avenue), I would rank Atlantic Avenue as being the largest drawback to the area.
  • transworld
    transworld
    The residential development at the corner or Herkimer and Albany is a 53-unit for 20 low income families ; 20 homeless adults with
    mental health conditions and 20 young
    adults aging out of NYS children's residential treatment facilities.
    It may not impact the retail mix much.
  • whynot_31
    whynot_31
    Further to the east, we have the Dept of Sanitation facility.      

    The employees of it and the bus facility would probably enjoy a good sandwich or pizza place. 
  • whynot_31
    whynot_31
    BTW, in a crazy way, it all makes sense if we look further east.

    This townhouse on Pacific out by Ralph:
    http://www.halstead.com/sale/ny/brooklyn/crown-heights/2044-pacific-street/townhouse/10981397#

    (head spins)
  • transworld
    transworld
    If the mayor is really serious about changing broadway junction, it would probably accelerate changes in north crown heights as well...
  • whynot_31
    whynot_31
    In terms of the MTA and DOS facilities, he'd have to find someplace to relocate them to.

    The other uses (auto body shops, etc) would quickly go away in the event the M1 zone and Atlantic was rezoned.

    ...Broadway Junction will have an easier time becoming "middle class residential" if the surrounding areas are similar in nature.
  • bergn
    bergn
    Yes, although I think the MTA depot is a huge eyesore, that hasn't deterred people from spending a lot of money to live in a place that overlooks it:


    http://www.elliman.com/new-york-city/1511-dean-street-brooklyn-ycmizgy


     I also live within a couple of blocks of the Albany Houses and don't find them to be _too_much of a problem...

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