Here comes 1515 Bedford, at Lincoln

whynot_31 · August 2017

Above (March 2015) I wrote "Long time readers may recall that a church owned this site, and then sold it to developer under the condition that it and its members get space in the building. From Laurie Cumbo's facebook feed: "Congratulations to Charity Neighborhood Bethel Cathedral on the occasion of their groundbreaking ceremony for their new church home, housing project and local business enterprise. Located right on Bedford and Lincoln Place, community residents came out even in the rain to celebrate this extraordinary opportunity for the whole community!"

whynot_31 · August 2017

Keywords: "church home, housing project and local business enterprise". So, it seems the church agreed too be paid $575k not merely in exchange for permanent worship space. They also may be getting the gift shop, offices, and commercial kitchen described on the Schedule A at far-below-market rates. In addition, they may also have obtained the ability to exclusively place their members in the some of the apartments, notably the the 22 apartments that are designated for persons making 60% of AMI (i.e. these apartments may be exempt from the city lottery). Depending on the rates for these spaces and the length of the arrangements, this may make the $575k seem like a savvy deal.

crownheightster · August 2017

It does sound like a savvy deal; but if the new owner is being this flagrantly violative of the contract, I wonder how much of the contract between the church and the developer is actually iron-clad. I'm definitely very curious about whether the affordable housing will actually go to the church members.

whynot_31 · August 2017

Yes, we would need to know all the terms. For the sake of the church, I do hope that the developer is not involved in the ongoing management of the property. If that were the case, the church could lose even if they win.

whynot_31 · August 2017

NYT had a piece today on why churches sell their properties to developers: https://www.nytimes.com/2017/08/06/nyregion/congregations-look-to-sell-houses-of-worship.html

whynot_31 · August 2017

Rick656 · August 2017

Not new, but this brownstoner article provides a a few additional details about the fight between the developer and the church that I hadn't seen before http://www.brownstoner.com/development/brooklyn-development-fox-savoy-theater-crown-heights-1515-bedford-avenue/ I hope this gets resolved quickly and fairly.

whynot_31 · September 2017

Some good photos and updates here: https://www.cityrealty.com/nyc/market-insight/features/future-nyc/see-progress-two-new-crown-heights-rentals-1515-bedford-1535-bedford-avenue/13482

whynot_31 · November 2017

This building appears to be on track for Spring 2018 occupancy.

crownheightster · November 2017

any updates on the fight between the developer and the church?

whynot_31 · November 2017

I don't have any. However, I suspect we would have heard a lot about the case if it went forward. (Not many media sources could resist a good story about Black church vs Jewish developer)

whynot_31 · January 2018

Spring occupancy looks likely. Drywall is up. Lighting is going in. I expect to see listings for the market rate units as early as April.

whynot_31 · February 2018

whynot_31 · March 2018

crownheightster · March 2018

Has anyone heard anything about the developer's relationship with the Church?

Here comes 1515 Bedford, at Lincoln

Comments

Howdy, Stranger!

Categories