1506 New York Ave

doublen00b · July 2015

http://newyorkyimby.com/2015/06/four-stories-18-residential-units-planned-for-1506-new-york-avenue-east-flatbush.html

Two 9 unit buildings will go up (total 18) each 4 stories tall. All signs point towards them being rental units, since that is something in the current developers wheelhouse.

I for one am excited to see this since I live near there and for the last few months it's just been an empty lot. I think they finished the demo around Jan. of this year. As far as the house goes, it was beyond repair and had signs of neglect that ran deep. Large open hole in the roof for half of a winter. The lot was demo'd but no additional permits were pulled, I thought it might be sitting on the market as a developer waited to flip it to another developer good to know it's not.

Does anyone know anything about this builders type of development? Will I be walking past neat buildings or walking down a different block because of a lack of design sense?

suppleknuckles · July 2015

hmm. it's nice that an empty lot is getting some development. but i am not encouraged by the fedders next door $:\$ my big fear is that all the development coming to flatbush/east flatbush with be in the fedders vein.....i mean, 99.9% of new buildings are ugly, but they don't have to be depressingly ugly.

and example of low-rise new buildings in flatbush i think are quite nice are on Erasmus st: https://www.google.com/maps/@40.649609,-73.953427,3a,75y,172.22h,90.03t/data=!3m6!1e1!3m4!1srF_tnjkZoF9jUOycHPV8-A!2e0!7i13312!8i6656

nothing fancy, but quite pleasant and at least looks like it's of reasonable quality.

doublen00b · July 2015

I don't think it would make much sense to develop fedders type buildings because you can't really compete with the Flatbush Gardens. Flatbush Gardens is larger and much cheaper. I would think a developer would realize there is a much greater ROI on something middle market (please keep those weird quasi lux bed stuy condo inventions somewhere else).

Now I know you can't directly compare a small sized 9 unit building to FBG because of denisty and crime. But lets get real if FBG charges 1350-1500 for a 1br, as a LL do you expect someone to come running cash in hand to your new 9 unit development if it is a mirror image FBG but with a higher rent? I don't.

I've watched house prices jump in the neighb by about 20-25% I expect some of the developers to realize the FBG is a rent floor and work their way up the ladder accordingly.

1506 New York Ave

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