Why Understanding Your Property's Value Before Selling Matters

Many Brooklyn and New York City property owners begin thinking about selling by asking one simple question: What is my property worth? The answer may seem straightforward, especially with the abundance of online valuation tools available today. However, determining a property's true market value involves far more than entering an address into an automated website.

Whether you own a one-family home, cooperative apartment, condominium, multifamily building, mixed-use property, commercial building, investment property, or development site, understanding value is one of the most important first steps before making any selling decisions.

A realistic understanding of market value helps property owners evaluate timing, establish reasonable expectations, compare selling options, and develop an effective pricing strategy before the property is offered for sale.

Why Accurate Property Valuation Matters

Property value influences nearly every decision made during the selling process. Pricing a property too high may discourage qualified buyers and increase the amount of time the property remains on the market. Pricing too low can result in missed opportunities and leave money on the table.

An informed valuation provides a stronger foundation for developing a marketing strategy, evaluating buyer interest, negotiating offers, and ultimately achieving the best possible outcome based on current market conditions.

Rather than relying on assumptions or outdated information, sellers benefit from understanding how today's market views their specific property.

Every Property Is Different

No two Brooklyn properties are exactly alike. Even neighboring homes with similar square footage may differ significantly in value due to condition, renovations, layout, legal use, income potential, architectural character, lot size, views, location within the neighborhood, or recent comparable sales.

For cooperatives and condominiums, building financials, monthly carrying costs, amenities, and building policies may influence buyer demand. Multifamily, mixed-use, commercial, and investment properties introduce additional considerations such as rental income, lease terms, operating expenses, zoning, and future development potential.

These factors cannot always be captured by automated valuation models.

Online Estimates Have Limitations

Online valuation tools can provide a useful starting point, but they generally rely on mathematical models and publicly available information. They often cannot evaluate interior condition, quality of renovations, deferred maintenance, unique architectural features, legal improvements, or changing buyer preferences.

In rapidly changing markets, automated estimates may also lag behind current market activity. For that reason, they should be viewed as estimates rather than definitive market values.

Understanding Today's Market

Property value is influenced not only by the property itself but also by current market conditions. Inventory levels, buyer demand, interest rates, neighborhood activity, and competing listings all affect how buyers perceive value.

A valuation completed several years ago—or even several months ago—may no longer reflect today's market.

Understanding these changing conditions allows sellers to make more informed decisions before listing their property.

Learn More About Property Valuation

To help Brooklyn and New York City property owners better understand the valuation process, Accord Real Estate Group has created a comprehensive educational resource covering the factors that influence market value, the strengths and limitations of online estimates, and the considerations involved in developing an informed pricing strategy.

Read the Brooklyn & NYC Property Valuation Guide

You can also explore additional educational resources in our Seller Resource Center, where we're building a growing library of practical guidance for Brooklyn and New York City property owners.

Considering Selling?

If you're considering selling property in Brooklyn or New York City and would like a better understanding of today's market, Accord Real Estate Group provides experienced guidance tailored to your property's characteristics, current market evidence, and your individual goals.

Request a Complimentary Property Valuation

No pressure. Just clarity.

Accord Real Estate Group • Serving Brooklyn Sellers.

Midwood Brooklyn, NY entered Summer 2026 with relatively stable overall sale prices, active but selective buyer demand, and meaningful differences among detached houses, co-ops, condominiums, and multi-family properties. For owners considering a sale, the market offers opportunity, but it is not rewarding every property or pricing strategy equally.

The latest available neighborhood data shows that buyers remain active, while longer marketing periods, a 96 percent sale-to-list-price ratio, and frequent price reductions indicate careful negotiation. Accurate property-specific pricing, preparation, and professional presentation are especially important for Midwood sellers.

Midwood Brooklyn includes detached homes, co-ops, condominiums, and multi-family properties, each responding differently to current buyer demand and market conditions.

Midwood Brooklyn Real Estate Market Snapshot

Data note: Sale-price, sales-volume, days-on-market, price-per-square-foot, sale-to-list, above-list, and price-reduction figures are based on Redfin calculations using MLS and public-record data for the three months ending May 2026. Inventory, new-listing, median-list-price, and typical-home-value figures are from Zillow data updated May 31, 2026. The platforms use different methodologies and describe different aspects of the market.

Is It a Good Time to Sell in Midwood Brooklyn?

For a well-prepared Midwood property priced according to its property type, condition, location, and likely buyer pool, Summer 2026 can provide a credible selling opportunity. Prices have remained relatively stable, buyers are completing purchases, and distinctive properties can stand apart when presented effectively.

This is not a market in which every seller can choose an ambitious asking price and expect buyers to follow. The 96 percent sale-to-list-price ratio and frequent price reductions show that buyers are comparing alternatives carefully.

The strongest opportunities may belong to properties offering features buyers cannot easily duplicate, including detached construction, private outdoor space, parking potential, flexible layouts, income potential, architectural character, or convenient transportation access.

What Do Current Midwood Prices Mean for Property Owners?

The reported median sale price of approximately $650,000 is a useful broad indicator, but it should not be treated as the value of a typical Midwood house. The neighborhood includes everything from smaller co-ops to detached one-family houses, condominiums, and substantial multi-family properties.

A neighborhood-wide median changes according to the properties sold during the reporting period. A larger number of co-op sales may lower the median even when detached-house values remain strong, while several high-value house sales may raise it without indicating that every property has appreciated equally.

Zillow’s typical-home-value measure was approximately $1.075 million as of May 31, 2026, while Redfin reported a much lower median sale price. The difference reflects separate methodologies. For sellers, the more useful question is: What are buyers paying for properties that genuinely compete with mine?

How Strong Is Buyer Demand in Midwood?

Buyer demand remains active but disciplined. Thirty-eight sales were recorded, the median marketing period approached 100 days, only 8.1 percent of properties sold above list price, and more than one-third of listings experienced a reduction.

Buyers are comparing condition, carrying costs, transportation, renovation needs, layouts, outdoor space, parking, and resale potential. Midwood continues to attract purchasers seeking detached homes, buyers considering more affordable co-ops or condominiums, extended families, and owner-occupants or investors evaluating multi-family properties.

Because these groups have different priorities, the marketing strategy should be built around the property itself rather than a generic description of the neighborhood.

How Do Property Types Differ in the Midwood Market?

Detached One-Family Homes

Detached one-family homes are among Midwood’s most distinctive properties. Buyers may value private yards, side exposure, lot width, architectural character, multiple floors, storage, and possible parking.

Their values can vary significantly according to block, lot and building dimensions, condition, renovation quality, original detail, room count, parking, transportation access, and competing inventory. Their relative scarcity is an advantage, but scarcity alone will not overcome deferred maintenance or unsupported pricing.

Co-operative Apartments

Co-ops can attract first-time purchasers, downsizers, and buyers prioritizing affordability. Their marketability depends on apartment condition, maintenance charges, building finances, board requirements, amenities, subletting policies, and comparable sales within similar buildings.

Condominiums

Condominiums may appeal to buyers seeking greater ownership flexibility. Purchase price, common charges, taxes, building condition, amenities, layout, exposure, parking, and recent development sales all affect buyer perception.

Two-Family and Multi-Family Properties

Multi-family properties may attract owner-occupants seeking rental income, extended families, and investors. Buyers often evaluate legal use, tenancy status, condition, operating expenses, rent levels, layout, and financing or improvement costs.

Sellers should assemble accurate property and tenancy information early and market both the residential benefits and practical income considerations.

What Is the Main Opportunity for Midwood Sellers?

The main opportunity is differentiation. Midwood buyers often have specific requirements, and properties demonstrating space, functionality, outdoor access, parking, architectural appeal, income potential, or transportation convenience can separate themselves from more generic inventory.

The current data does not indicate that buyers have disappeared. It shows that buyers are selective. Professional preparation and Property Marketing, including strong photography, accurate positioning, complete information, and broad exposure, can influence whether a property is shortlisted or overlooked.

What Is the Main Risk for Midwood Sellers?

The main risk is overpricing based on an automated estimate, a neighbor’s asking price, or a transaction involving a property that is not genuinely comparable.

With 37.3 percent of listings showing reductions and the typical sale closing at 96 percent of the final list price, many asking prices have required correction. A property that begins too high can lose early attention, remain available longer, and require a reduction after buyers have formed an unfavorable impression.

The goal is not to choose the highest or lowest possible price. It is to establish a defensible position based on property type, condition, location, competition, and likely buyer response.

How Should a Midwood Property Be Priced in 2026?

Pricing should begin with relevant comparable sales. A detached house should be compared with similar houses, not with a blended neighborhood median containing co-ops and condominiums. Co-ops should be evaluated against comparable apartments and buildings, while multi-family properties require attention to legal use, tenancy, condition, income, layout, and buyer profile.

Closed sales show what buyers paid in the recent past, while active listings show what buyers can choose today. Both matter when deciding how a property should enter the market.

Property-specific factors may include:

• Property type and legal use
• Lot and building dimensions
• Detached, semi-detached, or attached construction
• Interior condition and renovation quality
• Bedroom, bathroom, and layout functionality
• Outdoor space, driveway, garage, or parking potential
• Rental income and tenancy status
• Block location and transportation access
• Current competing inventory
• Recent comparable sales

Should Midwood Sellers Renovate Before Listing?

Not every property requires a major renovation. The right preparation depends on existing condition, likely buyers, cost, timing, and whether the work is likely to produce a meaningful return.

Basic repairs, cleaning, decluttering, improved lighting, fresh paint where appropriate, landscape maintenance, and removal of distractions can improve presentation without requiring a full renovation.

Original details may also be valuable in older homes. Careful repair and presentation of woodwork, moldings, built-ins, flooring, or porches can sometimes be more persuasive than incomplete modernization.

Should You Sell Now or Wait?

Waiting may make sense when an owner needs time to address title, estate, tenancy, repair, relocation, or financial issues. Selling sooner may be preferable when the property is ready, the owner’s plans are clear, and current demand aligns with the property’s strongest features.

A future increase in prices is not guaranteed, while waiting can involve additional taxes, insurance, maintenance, carrying costs, and uncertainty. Midwood remains active, but sellers should not rely on the market alone to produce the best result.

Recent Midwood Property Example: Detached One-Family Home 26A001

A recent Accord Real Estate Group example demonstrates why broad neighborhood statistics require context. Property 26A001, a detached Midwood one-family home, is now in contract.

The property was offered at $1,699,000 and includes six bedrooms, a 40-by-100-foot lot, side and rear yards, multiple living areas, period character, and convenient access to Avenue J transportation and shopping. Its asking price was far above the neighborhood-wide median because that median includes many lower-priced co-op and condominium transactions.

This example does not disclose the contract price or establish a universal comparison. It illustrates how property type, lot size, layout, location, condition, and buyer appeal can place a detached house in a very different market segment.

What Is the Midwood Market Outlook for the Rest of 2026?

Midwood’s near-term market is likely to remain property-specific. Stable reported prices provide support, while longer marketing periods, reductions, and below-asking transactions show that buyers continue to evaluate value carefully.

Detached homes with desirable lots, useful layouts, outdoor space, parking, and strong presentation may continue to attract focused interest. Co-op and condominium sellers will remain sensitive to carrying costs, condition, financing, and building-level competition. Multi-family properties will continue to be evaluated according to both residential use and financial considerations.

Mortgage rates, affordability, inventory, and the mix of properties reaching the market may affect activity. Borough-wide and national headlines provide context, but they are not substitutes for a Midwood property-specific analysis.

Frequently Asked Questions About Selling Property in Midwood

Is Midwood Brooklyn currently a seller’s market?

Midwood is better described as active but selective. Buyers are completing purchases, but the 96 percent sale-to-list ratio, 98-day median marketing period, and frequent reductions indicate that sellers need realistic pricing and effective presentation.

What was the median sale price in Midwood?

Redfin reported a median sale price of $649,781 for the three months ending May 2026, up 0.4 percent year over year. Because the figure combines different property types, it should not be used as the automatic value of an individual house, co-op, condominium, or multi-family property.

How long does it take to sell a home in Midwood?

The reported median was 98 days on market. Individual results vary according to property type, condition, price, presentation, financing, and buyer demand.

Are Midwood properties selling above asking price?

Some are, but above-asking sales represented 8.1 percent of reported transactions. The overall sale-to-list ratio was 96 percent, so sellers should not assume that competitive bidding will correct an overly ambitious asking price.

Why is the median sale price lower than the value of many detached homes?

The median includes co-ops, condominiums, houses, and other property types. Lower-priced apartment sales can materially affect the overall figure. Detached houses should be evaluated using relevant house comparables and property-specific characteristics.

Do detached homes sell differently from co-ops and condominiums?

Yes. Detached homes are often evaluated according to lot size, building size, condition, layout, outdoor space, parking, architecture, and location. Co-ops and condominiums are more directly affected by apartment size, building condition, monthly charges, taxes, amenities, rules, and building-level comparable sales.

Should I renovate my Midwood property before selling?

Not necessarily. Repairs and presentation improvements may be worthwhile, but a major renovation should be evaluated according to cost, timing, buyer expectations, and likely return.

What is the biggest pricing mistake Midwood sellers make?

A common mistake is using an online estimate or unrelated nearby property as the primary basis for value. Property type, lot size, legal use, condition, location, income potential, and current competition all need to be considered.

When is the best time to sell property in Midwood?

Spring and early summer often bring increased activity, but serious buyers search throughout the year. A property may also benefit from entering the market when there is less directly comparable competition.

How can I determine what my Midwood property is worth?

A property-specific valuation should consider recent comparable sales, current listings, property type, condition, dimensions, legal use, location, income potential, and likely buyer demand. A neighborhood median or automated estimate cannot fully account for these differences.

Who can help me sell a property in Midwood Brooklyn?

Property owners should look for a brokerage that understands Midwood’s different housing segments, provides clear pricing guidance, prepares the property thoughtfully, and has a defined plan for reaching likely buyers. Learn more about Why Sellers Choose Accord Real Estate Group.

Considering Selling Property in Midwood?

Market statistics provide useful context, but they do not establish the value of an individual property. A detached house, co-op, condominium, or multi-family building may perform very differently depending on its specific features and competition.

Learn more about Midwood’s housing, character, transportation, schools, and residential areas on the evergreen Midwood Brooklyn, NY neighborhood page.

Accord Real Estate Group combines local market knowledge, property-specific pricing analysis, professional presentation, and a clear seller-focused process. Review our Property Marketing approach and learn Why Sellers Choose Accord Real Estate Group.

If you are considering selling now or planning ahead, request a Complimentary Property Valuation for a clearer understanding of how your property may fit into the current Midwood market.

Related Real Estate Market Briefs

• Flatbush & Victorian Flatbush Market Brief - Summer 2026
• Gravesend Market Brief - 2026
• Windsor Terrace Market Brief - 2026
• Clinton Hill Market Brief - 2026
• View All Real Estate Market Briefs

Market Data Sources and Methodology

According to Redfin’s latest available Midwood data, the median sale price, median price per square foot, number of homes sold, median days on market, sale-to-list-price ratio, percentage of homes selling above list price, and percentage of listings with price reductions reflect the reporting period through May 2026.

According to Zillow data updated May 31, 2026, Midwood’s typical home value, for-sale inventory, new listings, and median list price provide additional context regarding current asking prices and available supply.

Market statistics are general neighborhood indicators and may be revised by their respective data providers. They are not a substitute for a property-specific valuation or professional advice concerning a particular transaction.

No pressure. Just clarity.

Accord Real Estate Group • Serving Brooklyn Sellers.

At Accord Real Estate Group, we extend our warmest wishes to our clients, neighbors, friends, and the entire Brooklyn and New York City community for a joyful and safe Fourth of July.

If you're considering selling a property, understanding today's market is the first step toward making confident decisions.

Explore our Real Estate Market Briefs for neighborhood market updates and seller insights.

You can also request a Complimentary Property Valuation.

Accord Real Estate Group • Serving Brooklyn Sellers Since 2007

Brownstone neighborhoods are often defined by attached row houses, compact lots, and dense urban streetscapes. Victorian Flatbush offers a different residential pattern: detached homes, front yards, porches, private driveways, mature trees, and a more spacious setting within Brooklyn. For homeowners, understanding this distinction can be important when evaluating value, buyer demand, and selling strategy.

Brownstone Brooklyn Is Defined by Attached Row Houses

Brownstone Brooklyn typically refers to neighborhoods such as Park Slope, Brooklyn Heights, Fort Greene, Clinton Hill, Carroll Gardens, Cobble Hill, Boerum Hill, and nearby areas where attached row houses form much of the residential character.

These homes are often admired for their stoops, high ceilings, decorative façades, parlor floors, original moldings, fireplaces, and proximity to neighborhood retail corridors, parks, schools, and transportation. For many buyers, a brownstone represents classic Brooklyn city living.

The appeal is strong, but the lifestyle is urban and compact. Many brownstones share walls with neighboring properties, have narrower lots, and offer outdoor space primarily through rear gardens, terraces, or roof decks.

Victorian Flatbush Was Planned Around Detached Homes

Victorian Flatbush developed with a different residential vision. Instead of attached rows, many of its most recognizable streets feature detached houses set back from the sidewalk, often with porches, lawns, side yards, private driveways, and mature landscaping.

Areas such as Prospect Park South, Ditmas Park, Fiske Terrace, Midwood Park, and nearby historic enclaves offer a residential environment that feels unusually spacious for New York City. Buyers who are drawn to these homes are often looking for privacy, architectural individuality, and a sense of separation from neighboring properties.

For current market context, see our Flatbush & Victorian Flatbush Market Brief - Summer 2026.

The Lot Itself Often Changes the Value Conversation

One of the biggest differences between Victorian Flatbush and Brownstone Brooklyn is the role of land. In many brownstone neighborhoods, the value conversation focuses heavily on building width, renovation quality, block location, and usable interior space.

In Victorian Flatbush, the lot can play a larger role. Front yards, side yards, private driveways, detached garages, gardens, and broader setbacks can create value that is not fully captured by square footage alone.

For sellers, this means pricing should not rely only on generic Brooklyn comparisons. A detached home on a larger lot may need to be evaluated differently from an attached townhouse, even if both properties have historic character.

Architecture Is More Varied in Victorian Flatbush

Brownstone Brooklyn has architectural variety, but its visual identity is strongly tied to row houses and traditional brownstone façades. Victorian Flatbush can include Queen Anne, Colonial Revival, Tudor, Shingle-style, Craftsman, and other early 20th-century influences.

This variety can make each property feel highly individual. A buyer may respond to a wraparound porch, a steep roofline, a turret, stained glass, original staircases, woodwork, or a front garden in a way that is different from how they evaluate a more typical attached townhouse.

That individuality can be a strength, but it also makes valuation more nuanced. Two Victorian Flatbush homes on nearby streets can differ significantly in value depending on architecture, condition, lot size, restoration quality, and buyer appeal.

The Lifestyle Is Different

Brownstone Brooklyn often appeals to buyers who want a highly walkable, dense, urban lifestyle close to restaurants, shops, schools, parks, and transit. Victorian Flatbush can offer many of those advantages while also providing more of a residential retreat.

For some buyers, the difference is emotional. They may want a porch, a garden, a driveway, a tree-lined block, and a home that feels separate from the pace of the city. For others, Brownstone Brooklyn's density, proximity, and classic townhouse rhythm may be the stronger draw.

Neither market is universally better. They serve different buyer priorities. The important point for sellers is that buyers are not only comparing prices. They are comparing lifestyles.

Why the Comparison Matters for Sellers

A Victorian Flatbush homeowner may be tempted to compare their property directly with brownstones in Park Slope, Carroll Gardens, or Brooklyn Heights. That comparison can be useful, but it has limits.

Brownstone buyers and Victorian Flatbush buyers may overlap, but they are not always the same buyer pool. Some buyers prioritize location density and townhouse prestige. Others prioritize detached living, outdoor space, privacy, and architectural uniqueness.

A strong pricing strategy should understand which buyers are most likely to value the property and why. A Victorian Flatbush home should be positioned around its specific strengths, not simply described as another historic Brooklyn house.

Marketing Should Highlight What Cannot Be Replaced

When selling a Victorian Flatbush property, marketing should make the home's distinct advantages clear. Detached construction, lot width, yard space, porches, original details, driveway parking, historic district appeal, and residential setting can all influence buyer perception.

A brownstone marketing strategy often emphasizes townhouse scale, stoop presence, renovation quality, and location within a highly walkable urban neighborhood. A Victorian Flatbush marketing strategy should often tell a different story, one focused on space, individuality, character, and privacy within Brooklyn.

To see examples of how Accord presents properties to buyers, visit our Property Marketing page.

What This Means for Victorian Flatbush Home Values

Victorian Flatbush homes can command strong buyer interest when the property is well-maintained, properly priced, and thoughtfully presented. The premium is not automatic. It depends on the specific home, condition, location, lot, architecture, and current buyer demand.

The key is understanding that value is not only about square footage. In Victorian Flatbush, value may also come from qualities that are harder to duplicate: a freestanding house, a private yard, an architectural presence, and a neighborhood setting that feels different from much of Brooklyn.

For related seller guidance, see our Victorian Flatbush Real Estate: Why Buyers Pay a Premium for Historic Homes.

Thinking About Selling a Victorian Flatbush Property?

If you own property in Victorian Flatbush and are considering a sale, now or in the near future, a Complimentary Property Valuation can help clarify where your property stands in today's market and how current conditions may influence your strategy.

You can also learn more about our seller-focused approach on our Why Sellers Choose Accord Real Estate Group page.

Related Brooklyn Market Briefs

• Flatbush & Victorian Flatbush Market Brief - 2026
• Prospect Heights Market Brief - 2026
• Clinton Hill Market Brief - 2026
• Windsor Terrace Market Brief - 2026

No pressure. Just clarity.

Accord Real Estate Group
Serving Brooklyn Sellers

For homeowners, understanding why buyers willingly pay a premium for these properties is important. The value of a Victorian Flatbush home is not based only on square footage or recent comparable sales. It is also shaped by architecture, lot size, preservation, location, emotional appeal, and the limited supply of similar homes.

Why Victorian Flatbush Feels Different From Most of Brooklyn

Victorian Flatbush includes some of Brooklyn's best-known historic residential enclaves, including Prospect Park South, Ditmas Park, Fiske Terrace, Midwood Park, and nearby related areas. These neighborhoods are known for freestanding homes, front porches, lawns, mature trees, and architectural styles that can include Queen Anne, Colonial Revival, Tudor, Craftsman, and other early 20th-century designs.

For many buyers, this creates a rare combination: the feeling of a suburban-style home while remaining within Brooklyn. That combination is difficult to replicate and helps explain why demand can remain strong even when buyers become more selective.

For a broader look at recent trends in this part of Brooklyn, see our Flatbush & Victorian Flatbush Market Brief - Summer 2026.

Architectural Character Creates Emotional Value

Historic homes often appeal to buyers on a level that newer construction does not. Original woodwork, staircases, fireplaces, stained glass, porches, rooflines, and period details can create an emotional response before a buyer ever reaches the pricing conversation.

That does not mean every older home automatically commands a premium. Condition matters. Layout matters. Mechanical systems matter. But when a Victorian Flatbush home combines character with livability, buyers may see it as more than just a property. They may see it as a home that cannot easily be replaced.

Scarcity Matters

One reason buyers pay more for Victorian Flatbush homes is simple supply. Brooklyn has many apartments, row houses, and townhouses, but far fewer large detached historic homes on generous lots. When a well-located home in Prospect Park South, Ditmas Park, Fiske Terrace, or Midwood Park becomes available, it may attract buyers who have been waiting specifically for that type of property.

This scarcity can support premium pricing, but it also requires careful valuation. A seller cannot rely only on average neighborhood price trends. The correct pricing strategy should consider the specific house, its condition, its architectural appeal, nearby comparable sales, and current buyer demand.

Lot Size, Privacy, and Outdoor Space Add Value

In many parts of Brooklyn, private outdoor space is limited. Victorian Flatbush homes often offer yards, driveways, front gardens, porches, and more separation from neighboring properties. For buyers moving from apartments, townhouses, or denser Brooklyn neighborhoods, that sense of space can be a major reason to pay a premium.

Outdoor space became even more important to many buyers in recent years. While market conditions change, the long-term appeal of private space in Brooklyn remains meaningful, especially for buyers looking for a home that can serve their household for many years.

Location Still Drives Buyer Demand

Victorian Flatbush offers a residential setting while still providing access to Prospect Park, local shopping corridors, schools, houses of worship, transportation, and nearby neighborhoods. Buyers may compare these homes not only with other Flatbush properties, but also with brownstones in Park Slope, townhouses in Carroll Gardens, and homes in other high-demand Brooklyn areas.

That comparison matters. Some buyers who want more space, more privacy, and architectural character may see Victorian Flatbush as an appealing alternative to traditional brownstone Brooklyn.

Condition Can Increase or Reduce the Premium

Historic character can help a property stand out, but condition remains critical. Buyers may pay more for original details, but they also pay attention to roofs, heating systems, electrical systems, plumbing, kitchens, bathrooms, windows, and overall maintenance.

A home with strong architectural character but significant deferred maintenance may still attract interest, but the buyer pool can become more limited. On the other hand, a home that preserves historic charm while offering practical modern updates may appeal to a broader and more competitive group of buyers.

Presentation Is Especially Important for Historic Homes

Marketing a Victorian Flatbush home requires more than listing room counts and square footage. The property presentation should help buyers understand what makes the home special: architecture, history, layout, outdoor space, neighborhood setting, and lifestyle appeal.

Professional photography, thoughtful description, floor plan context, neighborhood positioning, and targeted buyer messaging can all influence how the property is perceived. To see examples of how Accord presents properties to buyers, visit our Property Marketing page.

What This Means for Victorian Flatbush Sellers

If you own a home in Victorian Flatbush, your property's value may depend on more than standard comparable sales. Buyers may consider architecture, lot size, location, condition, historic appeal, renovation potential, and emotional connection.

That is why an accurate valuation should be neighborhood-specific and property-specific. A detached historic home in Victorian Flatbush should not be priced as if it were a generic Brooklyn house. It should be evaluated in the context of its architecture, buyer demand, and the limited supply of similar homes.

If you own property in Victorian Flatbush and are considering a sale, now or in the near future, a Complimentary Property Valuation can help clarify where your property stands in today's market and how current conditions may influence your strategy.

You can also learn more about our seller-focused approach on our Why Sellers Choose Accord Real Estate Group page.

Related Brooklyn Market Briefs

• Flatbush & Victorian Flatbush Market Brief - 2026
• Clinton Hill Market Brief - 2026
• Windsor Terrace Market Brief - 2026

No pressure. Just clarity.

Accord Real Estate Group
Serving Brooklyn Sellers

Unlike many Brooklyn neighborhoods defined by a single housing type, Flatbush offers remarkable diversity. Historic detached homes, income-producing multi-family properties, condominiums, co-operatives, and landmarked Victorian mansions coexist within a vibrant and culturally rich community. For homeowners considering a sale, understanding current pricing trends, buyer behavior, and inventory conditions can make a meaningful difference in timing, pricing, and overall strategy.

Flatbush & Victorian Flatbush Property Values in Summer 2026

Flatbush offers one of Brooklyn's broadest ranges of housing options and price points. Property values vary significantly depending on location, property type, lot size, condition, and architectural significance.

Across the broader Flatbush area, median pricing for houses generally ranges from approximately $525,000 to $810,000, while premium properties in highly desirable locations can command substantially higher values. Within Victorian Flatbush, detached historic homes often achieve significant premiums because of their rarity, landmark protections, and enduring appeal among buyers seeking a residential experience unlike anything else in Brooklyn.

For sellers, this variation is important. Two homes of similar size may command dramatically different prices depending on whether they are located in Prospect Park South, Ditmas Park, Fiske Terrace-Midwood Park, or another section of Flatbush. Understanding how buyers view each sub-market is an essential part of determining current market value.

Victorian Detached Homes

The defining asset class within Victorian Flatbush remains the freestanding Victorian home. Unlike most Brooklyn neighborhoods where attached rowhouses dominate the landscape, Victorian Flatbush offers detached residences with wraparound porches, deep front yards, private driveways, mature landscaping, and architectural details rarely found elsewhere in New York City.

Recent listings and sales throughout Ditmas Park, Prospect Park South, and Ditmas Park West have generally ranged from approximately $1.2 million to $3.4 million, with exceptional homes commanding substantially higher prices. A fully restored Prospect Park South residence recently traded for approximately $6.25 million, illustrating the premium buyers are willing to pay for outstanding historic properties in premier locations.

These homes attract a highly motivated buyer pool. Many purchasers are not simply looking for additional square footage. They are searching for a specific lifestyle defined by architectural character, privacy, outdoor space, and a sense of permanence that is increasingly difficult to find elsewhere in Brooklyn.

Multi-Family and Investment Properties

Two-family and three-family homes continue to attract both owner-occupants and investors seeking rental income opportunities. Throughout Flatbush and Victorian Flatbush, these properties generally trade between approximately $1.4 million and $3.15 million depending on location, condition, and income potential.

Strong rental demand, convenient transportation access, and the neighborhood's long-term appeal continue to support investor interest. Multi-family properties remain especially attractive to buyers looking to offset ownership costs through rental income while benefiting from long-term appreciation.

For sellers of multi-family properties, demand remains steady across a broad range of buyer profiles, including local investors, owner-occupants, and purchasers relocating from other parts of Brooklyn and New York City.

Condominiums and Co-operatives

Flatbush also offers meaningful opportunities for buyers seeking ownership at more accessible price points. Condo prices generally range from approximately $467,000 to $520,000, while co-operatives continue to provide attractive entry-level ownership opportunities.

Newer condominium developments and boutique conversions have added contemporary ownership options while preserving much of the area's historic character. These properties appeal to buyers who want neighborhood amenities and transportation access without the maintenance responsibilities associated with a house.

What Makes Victorian Flatbush Different?

Victorian Flatbush is not a single neighborhood but rather a collection of historic districts and residential enclaves that together form one of the largest concentrations of Victorian-era homes in the United States.

Tree-lined streets, detached homes, broad lawns, wraparound porches, and remarkable architectural diversity create an atmosphere often described as a "country in the city" experience. These qualities continue to attract buyers seeking something fundamentally different from traditional brownstone Brooklyn.

For many prospective purchasers, Victorian Flatbush offers a combination of space, privacy, and architectural character that would be difficult or impossible to duplicate elsewhere in Brooklyn at comparable price points.

Prospect Park South

Prospect Park South is often regarded as the crown jewel of Victorian Flatbush. Designated a New York City Historic District in 1979, it is known for its grand Colonial Revival, Queen Anne, and Shingle-style residences situated on expansive lots.

Albemarle Road and Marlborough Road remain among Brooklyn's most prestigious residential addresses. Properties within Prospect Park South consistently command some of the highest prices in Victorian Flatbush due to their scale, architectural significance, and limited availability.

Inventory remains extremely limited, and buyers who target Prospect Park South often monitor the market closely for extended periods waiting for the right property to become available.

Ditmas Park

Designated a Historic District in 1981, Ditmas Park combines the appeal of historic detached homes with a vibrant commercial corridor centered around Cortelyou Road.

Restaurants, cafés, neighborhood shops, the Cortelyou Greenmarket, and the Flatbush Food Co-op contribute to a strong sense of community and a highly desirable residential environment. Buyers are often drawn to Ditmas Park because it offers the character and space of a detached home while maintaining convenient access to transportation, shopping, and neighborhood amenities.

Streets such as Argyle Road, Stratford Road, East 17th Street, and East 18th Street remain among the most sought-after addresses in the neighborhood.

Ditmas Park continues to attract buyers relocating from Park Slope, Prospect Heights, Manhattan, and other neighborhoods where detached homes are either unavailable or significantly more expensive.

Fiske Terrace-Midwood Park and Beverley Squares

Fiske Terrace-Midwood Park showcases an impressive collection of Tudor, Colonial Revival, and Queen Anne homes originally developed as a carefully planned residential community. The neighborhood's cohesive design, mature landscaping, and architectural quality continue to make it one of Brooklyn's most desirable historic districts.

Nearby Beverley Square East and Beverley Square West further enhance the area's appeal with well-preserved detached homes and attractive residential streetscapes. Buyers who discover these neighborhoods often appreciate their unique combination of historic character, residential tranquility, and convenient transportation access.

What Is Driving Buyer Demand in 2026?

Buyer demand throughout Flatbush and Victorian Flatbush continues to be driven by a combination of affordability relative to other Brooklyn neighborhoods, architectural uniqueness, transportation access, and community character.

Many buyers arrive from Park Slope, Prospect Heights, Manhattan, and other parts of Brooklyn after discovering that Victorian Flatbush offers a level of space, privacy, and architectural distinction that is increasingly difficult to find elsewhere.

The neighborhood's appeal extends well beyond the homes themselves. Proximity to Prospect Park, Brooklyn College, Kings Theatre, neighborhood shopping districts, restaurants, and cultural institutions reinforces the area's long-term desirability.

Transportation also remains a significant advantage. The B and Q subway lines provide convenient access to Manhattan and other parts of Brooklyn, while numerous bus routes enhance mobility throughout the borough.

The draw of Victorian Flatbush is particularly powerful because buyers pursuing this market are often seeking something highly specific: a detached home with a porch, front yard, driveway, and distinctive architectural character. For many buyers, no other Brooklyn neighborhood offers the same depth of inventory within this category.

What Buyers Are Looking For Right Now

In Summer 2026, buyers continue to place a premium on properties that are well-maintained, thoughtfully presented, and move-in ready.

Original architectural details, restored woodwork, period craftsmanship, landscaped yards, porches, outdoor space, and functional layouts remain highly desirable. Within Victorian Flatbush, buyers are often pursuing a specific lifestyle rather than simply purchasing square footage.

Homes that successfully showcase their architectural character frequently generate stronger interest and command higher prices. Buyers paying a premium for a Victorian home expect the property's distinctive features to be preserved and highlighted.

For sellers, this means preparation matters. Professional photography, thoughtful presentation, deferred maintenance repairs, and strategic pricing can have a meaningful impact on buyer perception and overall marketing results.

How Inventory Conditions Affect Sellers

The broader Flatbush market generally offers more inventory than many of Brooklyn's smaller historic neighborhoods, giving buyers additional choice and placing greater emphasis on preparation and pricing.

Within Victorian Flatbush's landmarked districts, however, inventory remains structurally constrained. New development is virtually non-existent on many residential blocks, and homeowners often remain in place for extended periods.

The result is a marketplace where exceptional homes frequently attract significant attention because buyers understand how rarely such opportunities become available. Well-maintained detached homes in desirable locations continue to benefit from limited competition and sustained demand.

Properties that are accurately priced, professionally photographed, and effectively marketed continue to outperform competing listings.

The rate-lock effect that has influenced housing markets throughout Brooklyn remains a factor as well. Many homeowners with historically low mortgage rates remain reluctant to move, limiting inventory and helping support property values in desirable neighborhoods.

What Flatbush & Victorian Flatbush Sellers Should Consider

No two properties within Flatbush are exactly alike. Historic district designation, architectural style, lot size, condition, location, and block quality can all have a significant impact on value.

The difference in market value between a fully restored Victorian home in Prospect Park South and a similar-sized property elsewhere in Flatbush can be substantial. Understanding which market segment a property belongs to and how recent comparable sales have performed remains one of the most important factors when establishing an asking price.

Condition and presentation carry exceptional weight in Victorian Flatbush. Buyers are often drawn to these homes because of their character and craftsmanship. Professional photography, thoughtful staging, deferred maintenance repairs, and careful preparation can significantly influence buyer perception and overall marketing results.

Timing also matters. While spring traditionally represents the busiest selling season, serious buyers continue to pursue Victorian Flatbush properties throughout the year. Sellers who enter the market outside peak season may benefit from reduced competition while still attracting motivated purchasers.

The most successful sellers understand that Victorian Flatbush buyers are often making an emotional as well as financial decision. Marketing that highlights both the property's architectural significance and its practical benefits tends to resonate most effectively with today's buyer pool.

Considering a Sale?

For homeowners thinking about selling in Flatbush or Victorian Flatbush, understanding how current market conditions affect your specific property is an important first step.

Whether you own a detached Victorian home, a multi-family property, a condominium, or a co-operative apartment, a professional evaluation can provide valuable insight into current market value, buyer demand, and potential selling strategies.

If you own property in Flatbush or Victorian Flatbush and are considering a sale now or in the future, a Complimentary Property Valuation can help clarify where your property stands in today's market and how current conditions may influence your strategy.

Related Brooklyn Market Briefs

• Prospect Heights Market Brief - 2026
• Clinton Hill Market Brief - 2026
• Windsor Terrace Market Brief - 2026

No pressure. Just clarity.

Accord Real Estate Group
Serving Brooklyn Sellers

What gives Clinton Hill its character, however, is not simply its architecture. It is the particular combination of historic distinction, creative energy, academic presence, and genuine community investment that makes the neighborhood feel both rooted and alive. For homeowners considering a sale in 2026, understanding current pricing dynamics, buyer behavior, and inventory conditions can make a meaningful difference in timing and strategy.

Clinton Hill Property Values in Spring 2026

Clinton Hill is performing strongly in 2026, with the overall median sale price across all property types currently tracking between approximately $875,000 and $1.3 million depending on the source and transaction mix. Price per square foot has climbed to approximately $1,037 to $1,390, with the upper end of that range reflecting the neighborhood’s most competitive condo and townhouse transactions. Average days on market are running around 40 to 55 days, well below the Brooklyn borough average, confirming that well-priced properties in Clinton Hill are moving with purpose.

Brownstones and Townhouses: Clinton Hill’s historic brownstone and townhouse market is the neighborhood’s most coveted segment. Single-family townhouses on prime blocks are priced from under $3 million for approximately 2,600 square feet to $6.5 million and above for fully renovated, larger homes. Multi-family brownstones and row houses range from approximately $1.6 million for a two-family home to well above that figure for larger, income-producing properties. These assets attract both owner-occupants seeking the full Clinton Hill residential experience and investors drawn by the neighborhood’s strong and stable rental demand.

Condominiums: The Clinton Hill condo market has a median price of approximately $954,000 to $1.16 million, with active listings currently ranging from $549,000 to $2.495 million, reflecting a broad spectrum from well-located one-bedrooms to larger, amenity-rich residences in boutique conversions and newer developments. Average days on market for condos is approximately 55 days. The conversion of former manufacturing buildings, factory lofts, and institutional structures along the Myrtle and Fulton corridors continues to add a distinctive tier of ownership product to the market, including loft-style residences with dramatic proportions that attract buyers who cannot find comparable space elsewhere in brownstone Brooklyn.

Co-operative Apartments: Co-ops represent Clinton Hill’s most accessible homeownership pathway and one of its most stable segments. The median co-op sale price is approximately $830,000, with co-op buildings concentrated in the neighborhood’s prewar stock. Smaller units start from the mid-$300,000s, while larger two-bedroom-plus co-ops begin in the high $600,000s. For buyers committed to Clinton Hill who are weighing value and long-term stability, the co-op market offers an entry point that compares favorably to comparable product across most of brownstone Brooklyn.

Architecture, Historic District, and Prime Streets

Clinton Hill’s architectural identity is one of the most varied and visually striking of any neighborhood in Brooklyn. The Clinton Hill Historic District, listed on the National Register of Historic Places, encompasses an extraordinary range of 19th-century styles, Italianate brownstones, Greek Revival row houses, Gothic Revival homes, Romanesque Revival mansions, and Beaux-Arts buildings, concentrated on blocks that have changed remarkably little in over a century. Wood-frame homes built before the Civil War stand alongside mid-19th century carriage houses, mid-rise prewar apartment buildings, and newly built row houses, giving the neighborhood a visual texture that rewards close attention.

Clinton Avenue is the neighborhood’s premier address, the historic “Gold Coast” of Clinton Hill, where the Pratt family commissioned a series of grand mansions in the 1870s and 1880s that remain among the finest private residences in Brooklyn. The three Pratt family mansions that line Clinton Avenue, along with neighboring properties of comparable scale and ambition, give the street an architectural authority that commands buyer attention and consistent pricing premiums. St. James Place offers a quieter residential experience within the historic district, with beautiful row houses on a tree-lined block that draws buyers who have discovered it and rarely consider anywhere else. Waverly Avenue is known for its charming converted carriage houses, a property type unique to a handful of streets in brownstone Brooklyn and deeply sought after by buyers who value the combination of private entry, generous proportions, and singular character that carriage house living offers.

DeKalb Avenue and Myrtle Avenue serve as Clinton Hill’s main commercial corridors, lined with restaurants, cafes, independent shops, and the kind of neighborhood energy that reinforces residential appeal. Fulton Street adds a third commercial artery with its own distinct character. Together these three corridors give Clinton Hill a commercial infrastructure that is genuinely lively without overwhelming the residential scale of the blocks behind them.

What Is Driving Demand in Clinton Hill

Clinton Hill draws a broad and motivated buyer pool, sustained by a combination of factors that are increasingly difficult to replicate at comparable price points in brownstone Brooklyn. The presence of Pratt Institute, one of the country’s most respected art and design schools, gives the neighborhood an academic and creative energy that is palpable on its streets and embedded in its community character. The Pratt campus and its renowned sculpture garden, open to the public, add a green and culturally animated dimension to neighborhood life. St. Joseph’s University reinforces the collegiate atmosphere and contributes to a residential culture that values both intellectual engagement and community investment.

The food and lifestyle scene along Myrtle Avenue, DeKalb Avenue, and Fulton Street is a meaningful draw in its own right. The Good Batch and a growing roster of independent restaurants, wine bars, cafes, and neighborhood businesses have helped make Clinton Hill a destination rather than simply a place to live. The Brooklyn Flea, which brings vintage shopping and artisan vendors to the area on weekends, adds another layer of community engagement that resonates strongly with the neighborhood’s creative and entrepreneurial buyer profile.

Fort Greene Park, located immediately to the west and within walking distance of most of Clinton Hill, provides approximately 30 acres of green space, a popular Sunday farmers market, athletic facilities, and one of Brooklyn’s most beloved recreational landscapes. Its proximity adds another quality-of-life advantage that buyers consistently value.

Transit access remains one of Clinton Hill’s strongest assets. The G train at Classon Avenue and Clinton-Washington Avenues, the C train at Clinton-Washington Avenues, and the A train provide multiple options for Manhattan commuters and borough-wide connectivity. Atlantic Terminal, with its extensive network of subway lines and Long Island Rail Road service, is easily accessible from the southern portion of the neighborhood. Clinton Hill’s proximity to Downtown Brooklyn adds another layer of convenience for buyers seeking access to major employment centers, shopping, entertainment, and transportation hubs.

Families are drawn by a combination of school options, park access, and the neighborhood’s human scale. The Greene Hill Food Co-op reflects the community-oriented character that long-term residents have cultivated over decades, the kind of institutional investment that signals stability and belonging rather than transience.

How Inventory Constraints Affect Sellers

Clinton Hill’s residential market benefits from the same structural scarcity that defines much of brownstone Brooklyn. The Clinton Hill Historic District protects a significant portion of the neighborhood’s most desirable housing stock, limiting opportunities for large-scale redevelopment and helping preserve the architectural character that buyers value. Long-term homeowners, many of whom purchased their properties years ago at significantly lower prices, often have little incentive to sell. More recent owners frequently remain anchored by favorable mortgage rates, further restricting the flow of available inventory.

The result is a market where well-priced properties continue to attract prompt and serious attention. Clinton Hill’s average marketing time of approximately 40 to 55 days remains among the shorter periods in Brooklyn, reflecting a buyer pool that is informed, financially prepared, and willing to act when the right opportunity becomes available. Properly priced brownstones on prime blocks, boutique condominium conversions, and well-maintained co-operatives in sought-after buildings continue to generate strong interest during the current spring market.

Inventory remains limited across several key segments of the market, particularly historic brownstones, carriage houses, and distinctive owner-occupied multi-family homes. Buyers who have been searching for these property types often wait patiently for opportunities to become available, creating favorable conditions for sellers who prepare carefully and price strategically.

Clinton Hill offers something increasingly rare in Brooklyn: architectural grandeur, creative energy, academic influence, strong transit access, and genuine neighborhood character, all within a market that remains more attainable than several comparable brownstone neighborhoods. Buyers who discover this combination often move with conviction. Sellers who present their homes well and price them accurately are frequently the beneficiaries.

What Clinton Hill Sellers Should Consider

Pricing in Clinton Hill is highly sensitive to street, property type, historic district designation, and condition. Clinton Avenue commands some of the neighborhood’s highest premiums, particularly for mansion-scale residences where architectural significance and historical pedigree play an important role in buyer decision-making. St. James Place, Waverly Avenue, and the most intact blocks within the historic district each attract their own loyal buyer audiences and carry distinct pricing dynamics.

Properties on these streets that are well maintained and effectively showcase their architectural value consistently achieve the strongest results. Original details, including plasterwork, woodwork, stained glass, mantels, and period craftsmanship, remain important value drivers for buyers pursuing historic homes. Preserving and highlighting these features often has a meaningful impact on buyer perception.

The diversity of Clinton Hill’s housing stock means presentation strategy varies considerably by property type. For brownstones and larger historic residences, architectural character and scale tell the story. For condominium conversions and loft-style residences, buyers tend to focus on light, ceiling height, layout, and renovation quality. For co-operatives, condition, building reputation, financial stability, and maintenance history all influence buyer confidence.

Timing in Clinton Hill follows the broader spring pattern seen throughout brownstone Brooklyn, with March through June typically bringing the highest concentration of active buyers. At the same time, Clinton Hill’s diverse buyer pool, which includes professionals, families, academics, Pratt-affiliated buyers, creatives, and investors, remains active throughout the year. The neighborhood’s cultural institutions, academic calendar, and transit accessibility help support year-round demand. Sellers who come to market during the fall or winter often benefit from reduced competition while still attracting motivated buyers.

For homeowners considering selling in Brooklyn, understanding how local conditions affect your specific property is an important first step.

If you own property in Clinton Hill and are considering a sale, now or in the near future, a Complimentary Property Valuation can help clarify where your property stands in today’s market and how current conditions may influence your strategy.

No pressure. Just clarity.

Related Brooklyn Market Briefs

• Fort Greene Market Brief - 2026
• Prospect Heights Market Brief - 2026
• Brooklyn Heights Market Brief - 2026

Accord Real Estate Group
Serving Brooklyn Sellers

Memorial Day is a special time to pause and honor the brave men and women of the United States Armed Forces who made the ultimate sacrifice while serving our country.

Throughout Brooklyn and New York City, Memorial Day reminds us not only of the freedoms we enjoy every day, but also of the values that continue to bring families and communities together: service, courage, gratitude, sacrifice, and unity.

As we spend time with family and loved ones this Memorial Day weekend, it is also an opportunity to remember those whose dedication and sacrifice made those moments possible.

Memorial Day is observed annually in the United States on the last Monday of May and honors military personnel who lost their lives while serving in the United States Armed Forces.

Honoring Families and Communities Across Brooklyn

From Bay Ridge and Bensonhurst to Park Slope, Brooklyn Heights, Midwood, Gravesend, Marine Park and beyond, neighborhoods throughout Brooklyn continue to reflect the strength and spirit of the communities that call them home.

Many Brooklyn homes carry generations of family stories and memories: holidays spent together, family dinners, celebrations, graduations, birthdays, and countless everyday moments that become treasured memories over time.

A home often becomes much more than walls and a roof. It becomes a place where traditions continue and where families create lasting connections across generations.

A Time for Reflection and Appreciation

Memorial Day is often recognized as the unofficial beginning of summer, but its deeper meaning remains rooted in remembrance and appreciation.

Today we remember those who gave everything in service to our country and reflect on the sacrifices that helped preserve the freedoms and opportunities we enjoy today.

At Accord Real Estate Group, we wish everyone a peaceful Memorial Day spent with family and loved ones while taking a moment to remember and honor our nation's heroes.

Home, Family, and the Meaning of Community

Memorial Day also reminds us of the importance of home and community. Across Brooklyn and New York City, homes often hold generations of family memories and represent stability, comfort, and new beginnings.

At Accord Real Estate Group, we understand that real estate decisions are often deeply personal. Whether you are planning a move, downsizing, preparing a family property for sale, or considering a new chapter, every decision carries meaning beyond the property itself.

If you or someone you know is considering selling a Brooklyn or New York property this year, we are always here to help with local market expertise, personalized guidance, and a Complimentary Property Valuation .

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help in any way we can.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Happy Mother’s Day to all the amazing moms, grandmothers, caregivers, and mother figures throughout Brooklyn and New York City.

Mother’s Day is a special time to recognize the love, patience, strength, and sacrifices that mothers bring into our lives every single day. Their support helps shape families, homes, and communities in ways that often go unseen, yet deeply felt.

Mother’s Day is celebrated annually in the United States on the second Sunday of May and honors motherhood, maternal bonds, and the important role mothers play in society and family life.

Celebrating Mothers Across Brooklyn and New York City

From Bay Ridge and Bensonhurst to Park Slope, Brooklyn Heights, Midwood, Gravesend, and beyond, mothers help create the warmth and stability that turn neighborhoods into communities and houses into homes.

Many of the homes throughout Brooklyn hold generations of family memories: birthdays, holidays, graduations, first steps, family dinners, and countless everyday moments that become treasured memories over time.

Why Home and Family Matter

A home is often much more than just a property. It is where families grow, traditions begin, and life’s most meaningful moments happen. Mothers often stand at the center of those memories, helping create the comfort, care, and sense of belonging that make a home truly special.

At Accord Real Estate Group, we understand how personal real estate decisions can be, especially when family memories and long-term goals are involved. Whether a family is growing, downsizing, relocating, or preparing for a new chapter, every move carries emotional significance.

A Special Thank You to All Mothers

Today we celebrate all mothers and thank them for their endless love, dedication, kindness, and strength. Your impact reaches far beyond your own families and helps shape entire communities throughout Brooklyn and New York City.

We wish you a beautiful Mother’s Day filled with appreciation, happiness, love, and time spent with those who matter most.

If you or someone you know is considering selling a Brooklyn or New York property this year, Accord Real Estate Group is always here to help with professional guidance, local market expertise, and personalized personalized service.

Request a Complimentary Property Valuation

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Why Carroll Gardens Still Creates Seller Leverage

Carroll Gardens has long benefited from a combination of architectural character, neighborhood intimacy, and limited supply. Brownstones, townhouses, condos, and well-located co-ops all appeal to different buyer groups, but the neighborhood’s strongest seller advantage remains scarcity. Buyers who want Carroll Gardens are often looking for a very specific lifestyle, and there are rarely enough well-positioned properties to satisfy that demand.

This creates an opportunity for sellers who understand how to present their property clearly, price it intelligently, and avoid unnecessary delays that weaken buyer urgency.

Opportunity 1: Properties With Usable Outdoor Space

In Carroll Gardens, outdoor space remains a meaningful value driver. A garden, terrace, roof deck, deep front setback, or private yard can create a stronger emotional response from buyers, especially when the space feels usable rather than simply decorative.

Sellers do not always need a major renovation to highlight this advantage. Cleaning, staging, lighting, trimming plantings, repairing gates or fencing, and showing practical outdoor use can help buyers understand how the space lives. In a neighborhood where outdoor space is part of the identity, even modest improvements can help a property stand apart.

Opportunity 2: Homes That Feel Move-In Ready

Many buyers in 2026 remain cautious about renovation costs, contractor availability, and uncertain timelines. This does not mean every Carroll Gardens seller should renovate before listing. It does mean that homes perceived as clean, functional, and easy to occupy can attract stronger attention.

Simple preparation can matter: fresh paint, repaired hardware, organized closets, clean mechanical spaces, working lighting, polished floors, and clear presentation of any recent upgrades. Buyers often reward confidence. A property that feels maintained can reduce hesitation, even if it is not fully renovated.

Opportunity 3: Properties With Flexible Layouts

Carroll Gardens buyers often include families, professionals, multi-generational households, and buyers who work from home. A flexible layout can become a major selling point when marketed correctly.

A room that functions as an office, guest room, nursery, studio, or rental-supporting space may have more value than a generic description suggests. For townhouses and multi-family properties, sellers should be especially careful to explain practical use, income potential where applicable, and layout flexibility without overstating what the property legally permits.

Opportunity 4: Understated Properties on Strong Blocks

Some of the best seller opportunities in Carroll Gardens involve homes that are not flashy but sit on highly desirable blocks. Buyers often pay close attention to block character, light, width, garden depth, proximity to Court Street or Smith Street, subway access, school considerations, and the overall feel of the street.

A property does not need to be perfect to perform well if the location story is strong. The key is to make that story visible in the marketing, showing not only the home but the buyer’s likely daily life around it.

Opportunity 5: Sellers Who Prepare Before Inventory Builds

Timing matters because buyer attention is strongest when a listing enters the market with limited direct competition. Sellers who wait until similar properties appear nearby may lose some of their pricing leverage.

In Carroll Gardens, even a few competing listings can shift buyer comparisons quickly. Preparing early allows a seller to review pricing, minor repairs, photography, disclosures, and positioning before the listing needs to go public.

What Carroll Gardens Sellers Should Do Next

The strongest seller opportunity is not always about waiting for the perfect market. It is often about understanding the current market accurately and preparing before buyers begin comparing your home against competing listings.

For additional context, review the Carroll Gardens Market Brief 2026, along with What Buyers Pay More For in Carroll Gardens and Should You Renovate Before Selling in Carroll Gardens.

If you own property in Carroll Gardens and are considering a sale, a Complimentary Property Valuation can help clarify where your property stands and what opportunities may exist before you list.

No pressure. Just clarity.

Thinking of selling in Carroll Gardens? Visit our Carroll Gardens Seller Guide for a complete overview.

More Carroll Gardens Seller Guides

• Carroll Gardens Market Brief 2026
• What Buyers Pay More For in Carroll Gardens
• Should You Renovate Before Selling in Carroll Gardens?
• When Is the Best Time to Sell in Carroll Gardens?

Accord Real Estate Group / Serving Brooklyn Sellers.

Spring Is Usually the Strongest Listing Season

In most Brooklyn neighborhoods, spring brings the largest concentration of active buyers. Carroll Gardens is no exception. From March through June, buyers tend to be more engaged, families often plan around school-year timing, and properties generally photograph better with stronger light, greener gardens, and more appealing streetscapes.

For sellers with outdoor space, spring can be especially effective. A garden, terrace, or front yard often shows better during this period, which can help reinforce the lifestyle appeal that many Carroll Gardens buyers are seeking.

Early Preparation Matters More Than the Listing Date

The best sale timing often begins weeks or months before the property goes live. Sellers who wait until the last minute may miss the strongest part of buyer activity or rush important preparation decisions.

Before listing, a homeowner should review pricing, condition, repairs, staging, photography, floor plans, disclosures, and the property’s strongest selling points. A home that launches cleanly often performs better than one that reaches the market before it is ready.

Low Inventory Can Create Opportunity Outside Spring

While spring is usually the most active season, Carroll Gardens can also create seller opportunities outside the traditional peak window. Because inventory is often limited, a well-positioned property can attract serious buyers even in summer, fall, or winter.

This is especially true when there are few comparable homes available. If buyers have been waiting for a specific property type, such as a townhouse, garden-level unit, renovated condo, or well-located co-op, timing may depend more on competition than on the month.

Fall Can Be Strong for Serious Buyers

Fall is often overlooked, but it can be a practical listing period for Carroll Gardens sellers. September through early November can bring buyers who are focused, motivated, and ready to act before year-end.

The fall buyer pool may be smaller than spring, but it can be more decisive. Sellers should pay close attention to competing inventory, pricing accuracy, and presentation. A strong property that enters the market in fall with limited competition can still perform well.

The Best Time Depends on Property Type

Townhouses, condos, co-ops, and multi-family properties do not always follow the exact same timing pattern. Townhouses with gardens may benefit from spring presentation. Condos can perform well when buyer demand is active and comparable supply is limited. Multi-family properties may attract investor and owner-occupant interest based on income potential, financing conditions, and long-term value rather than season alone.

For this reason, sellers should avoid relying on generic timing advice. The right listing window should be based on the property itself, not only on neighborhood averages.

What Sellers Should Watch Before Listing

Before choosing a listing date, Carroll Gardens sellers should consider how many similar properties are currently active, how long they have been on the market, whether recent listings have reduced prices, and whether buyer demand is strongest for renovated or value-add properties.

It is also important to understand what buyers are currently paying premiums for. Review the What Buyers Pay More For in Carroll Gardens page and the Should You Renovate Before Selling in Carroll Gardens page for additional seller-focused guidance.

The Practical Answer for Carroll Gardens Sellers

The best time to sell in Carroll Gardens is when your property is prepared, your pricing is grounded in current local conditions, and competition is favorable. For many sellers, that may be spring. For others, an earlier or later launch may create a better advantage.

For broader neighborhood context, review the Carroll Gardens Market Brief.

If you are considering selling in Carroll Gardens, a Complimentary Property Valuation can help determine whether now is the right time based on your specific property and current buyer demand.

No pressure. Just clarity.

More Carroll Gardens Seller Guides

• Carroll Gardens Market Brief 2026
• What Buyers Pay More For in Carroll Gardens
• Should You Renovate Before Selling in Carroll Gardens?
• Hidden Seller Opportunities in Carroll Gardens in 2026

Accord Real Estate Group / Serving Brooklyn Sellers.

Renovation Is Not Always Required to Achieve a Strong Sale

Carroll Gardens buyers are often drawn to architectural detail, proportions, and neighborhood lifestyle as much as finishes. A well-located townhouse or apartment does not always need a full renovation to attract serious interest.

In many cases, buyers are willing to update kitchens, bathrooms, or layouts over time, especially if the underlying structure, light, and flow of the property are strong. Over-renovating can limit flexibility and reduce the buyer pool if the design choices are too specific.

What Buyers Actually Pay More For

Before committing to any renovation, it is important to understand what buyers consistently value. Clean, functional spaces, good natural light, usable layouts, and well-maintained systems often matter more than high-end finishes alone.

For a detailed breakdown, review What Buyers Pay More For in Carroll Gardens. In many cases, targeted improvements can achieve better results than a full renovation.

When Renovation Can Make Sense

There are situations where renovation may increase a property’s marketability. If a home feels significantly outdated, poorly maintained, or difficult for buyers to understand, selective updates can improve clarity and confidence.

Examples include repairing visible damage, updating lighting, refinishing floors, refreshing paint, improving kitchens or bathrooms that appear non-functional, and addressing deferred maintenance. These changes are often more about presentation than transformation.

The Risk of Over-Renovating

Full renovations in Carroll Gardens can be expensive and time-consuming. Sellers who invest heavily in upgrades may not always recover those costs, particularly if the final result does not align with current buyer preferences.

There is also a timing risk. Renovations can delay listing by several months, during which market conditions, buyer demand, and competing inventory may change. In some cases, entering the market earlier with a well-prepared but unrenovated property can produce a stronger outcome.

Presentation Often Matters More Than Renovation

In many Carroll Gardens sales, presentation plays a larger role than construction. A clean, well-staged, and thoughtfully photographed property can create a stronger impression than a partially completed or overly customized renovation.

Simple steps such as decluttering, deep cleaning, minor repairs, and staging can help buyers focus on the property itself rather than its imperfections. The goal is to make the space easy to understand and emotionally appealing.

How to Decide What Is Right for Your Property

The decision to renovate should be based on your property’s condition, your timeline, and the current competitive landscape. Reviewing similar listings in Carroll Gardens, understanding buyer expectations, and evaluating cost versus potential return are all part of the process.

For broader context, review the Carroll Gardens Market Brief and Hidden Seller Opportunities in Carroll Gardens in 2026.

A Practical Approach for Carroll Gardens Sellers

Most sellers benefit from a balanced approach: address what is necessary, improve what is visible, and avoid unnecessary construction that does not directly support buyer demand. The goal is not perfection. It is clarity, confidence, and positioning.

If you are considering selling in Carroll Gardens, a Complimentary Property Valuation can help determine whether renovation is likely to improve your outcome or whether your property is already positioned to perform well as-is.

No pressure. Just clarity.

More Carroll Gardens Seller Guides

• Carroll Gardens Market Brief
• What Buyers Pay More For in Carroll Gardens
• Hidden Seller Opportunities in Carroll Gardens in 2026
• When Is the Best Time to Sell in Carroll Gardens?

Accord Real Estate Group / Serving Brooklyn Sellers.

Outdoor Space That Feels Usable

Private outdoor space consistently commands a premium in Carroll Gardens. Buyers are not simply looking for access to the outdoors, they are looking for space that feels usable and intentional. A garden, terrace, or backyard that is clean, staged, and easy to maintain can create stronger emotional engagement and increase perceived value.

Even smaller spaces can perform well when they are presented clearly. Lighting, seating, and layout can help buyers understand how the space fits into daily life.

Move-In Ready Condition

Buyers often pay more for properties that feel ready to occupy. In 2026, renovation costs, timelines, and uncertainty continue to influence decision-making. A home that appears well maintained can reduce hesitation and attract stronger offers.

This does not always require a full renovation. Clean presentation, working systems, neutral finishes, and a sense of care can position a property more favorably against competing listings.

Strong Block and Location Within the Neighborhood

Not all locations within Carroll Gardens perform equally. Buyers pay attention to block character, proximity to Court Street and Smith Street, access to transportation, and overall street appeal.

A property on a desirable block with consistent architecture and good light often commands stronger interest, even if the interior is not fully updated.

Layout and Flexibility

Flexible layouts are increasingly important. Buyers are looking for spaces that can adapt to remote work, guest use, or changing household needs. A home office, additional bedroom, or adaptable living space can increase perceived value.

For townhouses and multi-family properties, layout clarity is essential. Buyers want to understand how the space functions day to day, not just how it is labeled.

Natural Light and Ceiling Height

Natural light remains one of the most important intangible value drivers. Properties that feel bright, open, and well proportioned tend to attract more attention and stronger offers.

Ceiling height, window exposure, and the ability to showcase light in marketing materials all contribute to how buyers perceive value.

Presentation and Positioning

Beyond the physical property, presentation plays a major role in pricing outcomes. Photography, staging, and listing clarity all influence how buyers interpret value before they even visit the property.

Sellers who invest in preparation often see stronger engagement and more confident offers.

How This Applies to Carroll Gardens Sellers

Understanding what buyers pay more for allows sellers to focus on the elements that matter most. Not every improvement is necessary, but the right preparation can change how a property is perceived relative to competing listings.

For broader context, review the Carroll Gardens Market Brief, along with Should You Renovate Before Selling in Carroll Gardens, Hidden Seller Opportunities in Carroll Gardens in 2026, and When Is the Best Time to Sell in Carroll Gardens?.

If you are considering selling, a Complimentary Property Valuation can help determine how your property compares in the current market.

No pressure. Just clarity.

Accord Real Estate Group / Serving Brooklyn Sellers.

Sunset Park is one of Brooklyn’s most genuinely distinctive neighborhoods, diverse, multigenerational, and anchored by a hillside park that offers some of the most commanding views of the Manhattan skyline and New York Harbor anywhere in the borough. Located in western Brooklyn and bounded by Park Slope and Green-Wood Cemetery to the north, the neighborhood encompasses a rich mix of authentic culture, historic row house architecture, and a waterfront industrial corridor that has emerged as one of Brooklyn’s most dynamic destinations. For buyers seeking real value, strong community character, and long-term upside in a neighborhood that is still discovering its full potential, Sunset Park presents a compelling case.

For homeowners considering a sale in 2026, understanding current pricing dynamics, buyer behavior, and inventory conditions can make a meaningful difference in timing and strategy.

Sunset Park Property Values in Spring 2026

Sunset Park offers one of the more accessible entry points into Brooklyn homeownership while still delivering strong fundamentals for sellers. The overall median sale price across all property types currently sits at approximately $1.5 million as of March 2026, up 19 percent year over year, with meaningful variation depending on asset class. Price per square foot is tracking around $684 to $854, reflecting the neighborhood’s mix of larger multi-family structures and smaller residential units. The neighborhood’s housing stock is primarily composed of two- and three-story row houses, multi-family townhomes, and a growing condo and co-op segment, all operating within residential height restrictions of 35 to 80 feet that have preserved the neighborhood’s low-rise, walkable scale.

Townhouses and Row Houses: The single-family and two-family row house market is the backbone of Sunset Park’s residential landscape. Single-family houses have a median sale price of approximately $1.4 million, while well-located two- and three-family townhomes are generating strong investor and owner-occupant interest, with multi-family properties trading between approximately $1.25 million and $5.3 million depending on size and income. These properties are particularly appealing to buyers who intend to occupy one unit while generating rental income from the others, a strategy that plays well in a neighborhood with a large, stable renter base.

Condominiums: The Sunset Park condo market has seen significant momentum, with median condo prices rising approximately 24 percent year over year to around $520,000. Active condo listings currently range from approximately $399,900 to $2.95 million, reflecting both the older prewar stock near the park and newer or converted product closer to the waterfront. Industry City’s ongoing transformation has drawn attention to the southwestern edge of the neighborhood and added longer-term appeal for buyers seeking proximity to Brooklyn’s emerging creative and technology hub.

Co-operative Apartments: Co-ops represent Sunset Park’s most affordable homeownership pathway, with a median sale price of approximately $499,000. Individual units are available from the high $300,000s, making them among the most accessible ownership opportunities in western Brooklyn. Sunset Park is home to Alku, built in 1916 and recognized as one of the very first nonprofit co-operative buildings in the United States, a piece of housing history that reflects the neighborhood’s deep community roots. Prewar co-op buildings near the park and along the residential avenues offer buyers well-maintained units with original details at prices that compare favorably to equivalent product in adjacent neighborhoods.

What Is Driving Demand in Sunset Park

Sunset Park draws buyers motivated by value, community, and a neighborhood identity that is unmistakably its own. The park itself, bounded by 5th and 7th Avenues and 41st and 44th Streets, sits at the highest elevation in Brooklyn, offering panoramic views of the Manhattan skyline, the Statue of Liberty, and New York Harbor that rival any vantage point in the borough. The park’s Art Deco swimming pool, recreation center, playgrounds, and open lawns serve as a daily social hub for a neighborhood with a notably high concentration of children and multigenerational families. Tai chi in the morning, volleyball in the afternoon, and community gatherings throughout the year give Sunset Park a stoop-life energy that is increasingly rare in gentrifying Brooklyn.

The neighborhood’s cultural identity is one of its most powerful assets. Fifth Avenue is the main artery for Brooklyn’s Mexican and Latin American community, lined with authentic taquerias, panaderias, and family-run businesses that have served the neighborhood for generations. Eighth Avenue forms the heart of Brooklyn’s Chinatown, offering Cantonese restaurants, Asian grocery markets, and a commercial vitality that reflects the neighborhood’s significant and established Asian community. Together, these two corridors give Sunset Park a culinary and cultural depth that buyers are increasingly seeking.

Industry City, the massive waterfront complex along the Sunset Park shoreline, has added a significant new dimension to the neighborhood’s appeal. Home to over 550 businesses, makers, restaurants, breweries including Brooklyn Kura, and creative studios, it has drawn younger buyers and professionals who want proximity to an innovative work-and-lifestyle environment without paying the premiums of Williamsburg or DUMBO. Transit access along 4th Avenue via the D, N, R, and W trains provides quick connections to Manhattan, making the neighborhood genuinely practical for daily commuters.

Historic Districts and Prime Residential Streets

Sunset Park contains four landmarked residential historic districts designated by the New York City Landmarks Preservation Commission in June 2019, protecting some of the most intact early 20th-century row house streetscapes in all of Brooklyn, and in fact representing the largest historic district in the entire northeastern United States.

The Central Sunset Park Historic District, covering 47th and 48th Streets between 5th and 6th Avenues, is known for its handsome Renaissance Revival row houses built in the early 1900s, a cohesive streetscape that defines the neighborhood’s architectural identity at its most refined. The Sunset Park North Historic District along 44th Street between 5th and 7th Avenues offers scenic brownstone living with proximity to the park. The Sunset Park South Historic District, covering 54th through 59th Streets between 4th and 5th Avenues, preserves approximately 280 largely intact two-story-and-basement row houses dating to the turn of the 20th century, modest in scale but exceptional in their collective continuity. Properties within these landmarked districts carry the dual benefit of architectural protection and documented historic character, both of which support long-term value retention.

The broader residential area between 4th and 7th Avenues and 47th through 59th Streets represents the neighborhood’s most desirable homeownership zone, where height restrictions, tree-lined side streets, and a deep sense of community combine to create conditions that attract buyers looking for a genuine Brooklyn neighborhood rather than a transient one.

How Inventory Conditions Affect Sellers

Sunset Park’s residential market is characterized by relatively steady supply, with a broader range of active listings than more boutique brownstone neighborhoods to the north. This means buyers have more selection, but it also means that well-priced, well-presented properties stand out clearly and move with purpose. Homes in Sunset Park are currently averaging approximately 56 to 83 days on market, an improvement from the 96-day average of the prior year, reflecting growing buyer interest and improving absorption across all property types.

The rate lock-in effect that has constrained inventory throughout Brooklyn is present in Sunset Park as well, with long-term homeowners reluctant to trade out of favorable mortgage rates. This has modestly tightened the supply of move-in-ready single-family and two-family homes, which in turn supports pricing for sellers who do choose to list. Multi-family investment properties are seeing active buyer interest from both local and out-of-market investors drawn by the neighborhood’s strong rental fundamentals and relative affordability compared to other Brooklyn locations.

In a neighborhood as culturally rich and architecturally diverse as Sunset Park, a property’s location within or near a landmarked historic district, its proximity to the park, and its presentation relative to the street all carry real pricing weight. Sellers who understand these distinctions and position accordingly are the ones who achieve the strongest results.

What Sunset Park Sellers Should Consider

Pricing in Sunset Park is meaningfully influenced by property type, block designation, condition, and the specific segment of the market a home falls into. Properties within the four landmarked historic districts, particularly on 47th, 48th, and 44th Streets and along the 54th through 59th Street corridor, carry a preservation premium that buyers understand and value. Proximity to the park itself is among the strongest pricing factors in the neighborhood, with blocks on or near the park’s perimeter between 5th and 7th Avenues commanding a meaningful premium over comparable properties further from the green space. The key residential zone between 4th and 7th Avenues, from 47th to 59th Streets, consistently attracts the most motivated and informed buyers.

Presentation matters. Sunset Park buyers span a wide range of profiles, from first-generation homeowners making a significant financial commitment to experienced investors evaluating cap rates and long-term appreciation, and properties that are well-maintained, clearly priced, and effectively marketed to the right audience consistently outperform those that are not. Original architectural details, functional layouts, outdoor space, and proximity to transit and commercial corridors are the features that resonate most across buyer types.

Timing in Sunset Park reflects the broader Brooklyn spring pattern, with March through June bringing the highest concentration of active buyers. That said, the neighborhood’s diverse and practical buyer pool, driven by community ties, family formation, and investment fundamentals rather than lifestyle trend alone, remains active across all four seasons. Multi-family sellers in particular will find motivated investor interest regardless of the time of year. Sellers who come to market in fall or winter often encounter less competition from other listings while attracting the same quality of buyer interest.

For homeowners considering selling in Brooklyn, understanding how local conditions affect your specific property is an important first step.

If you own property in Sunset Park and are considering a sale, now or in the near future, a Complimentary Property Valuation can help clarify where your property stands in today’s market and how current conditions may influence your strategy.

No pressure. Just clarity.

Related Brooklyn Market Briefs

• Carroll Gardens Market Brief - 2026
• Fort Greene Market Brief - 2026
• Windsor Terrace Market Brief - April 2026

Accord Real Estate Group
Serving Brooklyn Sellers

Fort Greene Property Values and What Sellers Should Know in 2026

Fort Greene occupies a singular position in Brooklyn’s residential landscape. Named after Revolutionary War General Nathanael Greene, the neighborhood is anchored by its eponymous 30-acre park, Brooklyn’s oldest, redesigned in 1867 by Frederick Law Olmsted and Calvert Vaux — and defined by one of the borough’s most distinguished collections of 19th-century brownstone architecture. With a deep cultural identity, world-class institutions, and some of the strongest transit access in Brooklyn, Fort Greene continues to attract buyers who are looking for architectural beauty, community character, and a genuinely urban quality of life.

The Fort Greene real estate market continues to show strong pricing and sustained buyer demand in April 2026.

Fort Greene is currently ranked among the three hottest neighborhoods in Brooklyn for 2026, with buyer search activity up 13 percent year over year and both sale prices and rents appreciating at the same rate.

For homeowners considering a sale in 2026, understanding current pricing dynamics, buyer behavior, and inventory conditions can make a meaningful difference in timing and strategy.

Fort Greene Property Values in Spring 2026

Fort Greene commands some of the strongest pricing in Brooklyn. The overall median sale price currently ranges between approximately $1.2 million and $2 million across tracking platforms, with meaningful variation by property type. Renovated brownstones and single-family townhouses on prime historic blocks consistently trade at a significant premium above those figures — with exceptional properties in the Fort Greene Historic District achieving prices well above $3 million. Price per square foot has climbed sharply, with recent data pointing to figures between $1,100 and $1,440, reflecting both sustained demand and the near-impossibility of adding significant new supply within the historic district’s tightly defined boundaries.

Brownstones and Townhouses:

Restored single-family townhouses on prime blocks are trading between $1.8 million and $3.5 million, with landmark-quality properties on park-facing streets reaching higher. These represent the neighborhood’s most coveted asset class and attract the most competitive buyer situations.

Condominiums:

The Fort Greene condo market has a median sale price of approximately $1.3 million, with units ranging from the mid-$600,000s for well-located one-bedrooms to well above $1.5 million for larger, amenity-rich residences. New development condominiums along the Ashland Place corridor and at landmark conversions such as One Hanson Place represent the upper end of the segment. The condo market is seeing modest inventory growth, creating slightly more selection for buyers than in prior years while keeping pricing firm.

Co-operative Apartments:

Co-ops offer the neighborhood’s most accessible entry point for buyers committed to Fort Greene. The median co-op sale price is approximately $1 million, with individual units ranging from the high $700,000s for well-maintained one-bedrooms to above $1.5 million for larger, renovated apartments in sought-after prewar buildings. Co-ops typically trade at a 20 to 30 percent discount to comparable condominiums, making them an attractive option for buyers who value the neighborhood above all else.

Row House Conversions and Multi-Family:

Converted row houses and two-family properties trade between approximately $900,000 and $1.8 million, depending on configuration, condition, and block. These properties attract both owner-occupants seeking rental income and investors drawn by Fort Greene’s strong rental demand, where two-family properties are generating monthly income of $4,500 to $6,000.

What Is Driving Demand in Fort Greene

Fort Greene draws a wide and motivated buyer pool, sustained by a combination of cultural identity, architectural distinction, and practical urban advantages that are difficult to replicate elsewhere in Brooklyn. Fort Greene Park — Brooklyn’s oldest, 30 acres of rolling green space designed by Olmsted and Vaux — anchors the neighborhood both physically and socially. Its Saturday farmers market, tennis courts, playgrounds, and the Prison Ship Martyrs Monument draw residents year-round and serve as a primary driver of value on the blocks that border it.

The Brooklyn Academy of Music, BRIC House, the Museum of Contemporary African Diasporan Arts, and the Center for Fiction have collectively established Fort Greene as one of the borough’s most significant cultural destinations. Fulton Street, DeKalb Avenue, known as Fort Greene’s restaurant row, and Myrtle Avenue serve as the primary commercial corridors.

Architecturally, the Fort Greene Historic District protects outstanding examples of Italianate, Neo-Grec, and Queen Anne rowhouses. Transit access is among the strongest in Brooklyn, with multiple subway lines at Atlantic Terminal placing Lower Manhattan roughly 20 minutes away and Midtown within 30. Its proximity to Downtown Brooklyn adds another layer of convenience and appeal for buyers who want fast access to major retail, transportation, and office hubs.

How Inventory Constraints Affect Sellers

Fort Greene is a compact neighborhood with firm geographic boundaries and a historic district designation protecting the majority of its residential building stock. The Fort Greene Historic District, designated in 1978 and listed on the National Register of Historic Places, covers over 700 buildings and effectively limits the introduction of meaningful new supply in the most desirable parts of the neighborhood.

This structural scarcity sustains pricing power for sellers. Active listings in Fort Greene at any given time are limited, and the combination of rate lock-in among long-term homeowners and persistent underlying demand keeps inventory tight across all property types.

Homes in Fort Greene are currently averaging 38 to 43 days on market — well below the Brooklyn norm — and well-priced properties have consistently been closing at or above asking price.

What Fort Greene Sellers Should Consider

Pricing in Fort Greene is highly sensitive to block, condition, architectural integrity, and proximity to the park. South Oxford Street between Lafayette and DeKalb Avenues is widely regarded as one of the finest brownstone blocks in all of Brooklyn. Carlton Avenue and South Portland Avenue are among the neighborhood’s most coveted residential addresses, with well-preserved townhouses achieving some of the highest per-square-foot prices in the historic district.

Presentation carries exceptional weight in this market. Fort Greene buyers are sophisticated and often deeply familiar with the neighborhood. Properties that highlight original details, quality restorations, and outdoor space consistently outperform.

Timing in Fort Greene follows the rhythm of brownstone Brooklyn broadly, with peak activity in spring. However, qualified buyers remain active year-round.

For homeowners considering selling in Brooklyn, understanding how local conditions affect your specific property is an important first step.

If you own property in Fort Greene and are considering a sale, now or in the near future, a complimentary property valuation can help clarify where your property stands in today’s market and how current conditions may influence your strategy.

No pressure. Just clarity.

Related Brooklyn Market Briefs

• Carroll Gardens Market Brief – 2026
• Prospect Heights Market Brief – 2026
• Windsor Terrace Market Brief – April 2026

Accord Real Estate Group
Serving Brooklyn Sellers

While attention often focuses on higher-profile neighborhoods, Gravesend continues to attract buyers who prioritize space, layout, and long-term value. That demand does not always appear aggressive on the surface, but it is steady and increasingly selective.

Recent activity suggests that buyers are approaching this market with clearer expectations, particularly as pricing across Brooklyn continues to influence where and how they search.

Gravesend Property Values and Market Position

Gravesend offers a mix of property types, including single-family homes, multi-family buildings, and cooperatives, contributing to a layered pricing structure across the neighborhood. This variety allows the market to attract both end-users and investors, each responding to different aspects of value.

Property values have shown gradual upward movement, supported by limited inventory and consistent demand from buyers who are willing to look beyond more competitive areas in exchange for space and relative affordability.

Market Snapshot

Pricing trends in Gravesend remain steady, with variations largely driven by property condition, size, and location within the neighborhood. Well-maintained homes and properties that offer flexible layouts tend to perform more strongly, particularly when aligned with current buyer expectations.

Price per square foot has been moving upward at a measured pace, reflecting a market that is evolving without the volatility seen in more heavily traded neighborhoods.

What Is Driving Demand

Demand in Gravesend is influenced by a combination of local and broader Brooklyn factors. As pricing continues to rise in surrounding neighborhoods, buyers expand their search to areas where they can secure more space or better value while remaining within Brooklyn.

Family buyers and multi-generational households remain an important part of this demand, often prioritizing layout and long-term usability over proximity to trend-driven locations. Investors also maintain interest, particularly in multi-family properties that offer income potential.

This creates a balanced demand profile, where different buyer groups contribute to overall market stability.

Inventory and Seller Positioning

Inventory in Gravesend remains relatively constrained, which supports pricing stability. The neighborhood does not experience the same level of turnover as more centrally located areas, and as a result, available properties tend to receive focused attention when they enter the market.

Seller Insight
Gravesend presents a quieter opportunity, where consistent demand and limited inventory create conditions that can favor sellers who position their property thoughtfully and align with current buyer expectations.

What Sellers Should Consider

For homeowners considering a sale, pricing strategy remains essential. Buyers in this market are often comparing Gravesend with other Brooklyn neighborhoods, making relative value an important part of the decision process.

Condition, presentation, and layout play a significant role in how a property is received. Homes that require less immediate work or offer flexibility in use tend to generate stronger interest.

Timing can also influence results. While Gravesend is not driven by rapid market swings, periods of increased search activity across Brooklyn can bring additional attention to neighborhoods that offer space and value.

For homeowners exploring selling a home in Brooklyn, understanding how Gravesend fits into the broader market can help shape a more effective approach.

If you own property in Gravesend and are considering a sale - now or in the near future - a complimentary property valuation can help clarify your position and outline potential next steps.

No pressure. Just clarity.

Related Brooklyn Market Briefs

• Park Slope Market Brief – 2026
• Brooklyn Heights Market Brief – 2026

Accord Real Estate Group
Serving Brooklyn Sellers

For homeowners, this creates a different type of market dynamic. Interest is not always obvious on the surface, but it is present and often driven by buyers who arrive already prepared to act when the right property becomes available.

Recent activity suggests that Windsor Terrace is no longer simply an alternative location. It is becoming a deliberate choice for buyers balancing lifestyle and value.

Windsor Terrace Property Values and What Sellers Should Know

Windsor Terrace benefits from a combination of proximity and contrast. Located next to Prospect Park and bordering neighborhoods with higher entry points, it offers a similar residential feel within a more contained and less densely developed environment.

This positioning has gradually strengthened property values, not through rapid spikes, but through consistent upward pressure supported by steady demand and limited supply.

Market Snapshot

Pricing trends in Windsor Terrace continue to reflect a market gaining traction. Transaction values are influenced by property type and location within the neighborhood, with townhouses and single-family homes often performing at the higher end of the range.

Price per square foot has been moving upward, particularly for properties that combine condition, layout, and proximity to Prospect Park. At the same time, cooperatives and smaller buildings continue to offer entry points that attract a broader segment of buyers.

What Is Driving Demand

Demand in Windsor Terrace is closely tied to its relationship with nearby markets. As pricing in Park Slope continues to move higher, a portion of buyer activity naturally extends into Windsor Terrace, where comparable qualities can still be found at a different price level.

Family buyers remain a consistent driver, drawn by access to Prospect Park, schools, and a quieter residential atmosphere. Many of these buyers approach the market with a clear understanding of value, often making decisions based on long-term suitability rather than short-term opportunity.

How Inventory Affects Sellers

Inventory in Windsor Terrace is structurally limited. The neighborhood’s size and housing composition do not allow for significant fluctuations in supply, which means that new listings tend to stand out when they enter the market.

In this type of environment, buyer activity may not always appear broad, but it is often focused. Well-prepared and accurately priced properties are more likely to attract serious attention rather than exploratory interest.

Seller Insight
Windsor Terrace presents a quieter form of opportunity, where expanding buyer demand meets limited supply, creating conditions that can favor sellers who position their property carefully.

What Sellers Should Consider

Pricing strategy remains central, particularly as buyers compare Windsor Terrace with nearby neighborhoods. The decision to purchase here is often tied to perceived value relative to surrounding markets, making accurate positioning essential.

Condition, layout, and proximity to Prospect Park or key residential streets continue to influence buyer response. Properties that present clearly and require less adjustment from a buyer’s perspective tend to perform more efficiently.

Timing can also play a role, although Windsor Terrace does not rely heavily on seasonal shifts. As search activity continues to expand into the neighborhood, sellers entering the market during periods of active demand may benefit from increased visibility among buyers who have already broadened their search criteria.

For additional context on nearby market conditions, our Park Slope property values update provides insight into how demand is evolving in adjacent neighborhoods.

For homeowners thinking about selling a home in Brooklyn, understanding how local conditions apply to your specific property is an important first step.

If you own property in Windsor Terrace and are considering a sale - now or in the near future - a complimentary property valuation can help clarify where your property stands and how current conditions may influence your approach.

No pressure. Just clarity.

Accord Real Estate Group
Serving Brooklyn Sellers

For homeowners, the question is less about whether interest exists and more about how current market conditions influence pricing, timing, and positioning.

Recent activity suggests that while the market remains selective, well-prepared properties continue to attract serious attention.

Prospect Heights Property Values and What Sellers Should Know

Property values in Prospect Heights reflect the neighborhood’s compact size and architectural consistency. Unlike areas where new development can significantly shift inventory levels, Prospect Heights remains largely defined by prewar buildings and late 19th-century townhouses, with only limited pockets of newer construction.

This balance tends to support pricing stability over time, even as individual transactions vary based on property type, condition, and exact location.

Market Snapshot

Recent sales activity places median pricing in the general range of the mid-$1 million mark, though this figure is shaped heavily by the mix of property types trading in any given period. Price per square foot has continued to trend higher, particularly for renovated townhouses and well-positioned condominiums.

Brownstones and single-family homes often perform above neighborhood averages, especially on the quieter interior blocks. Meanwhile, prewar cooperatives tend to show more consistent pricing patterns, reflecting a different buyer profile and transaction dynamic.

What Is Driving Demand

Demand in Prospect Heights is supported by a combination of factors that extend beyond pricing alone. Access to Prospect Park, the Brooklyn Museum, and the Botanic Garden creates a level of cultural and recreational value that continues to attract buyers seeking a more balanced residential environment.

Transit access remains another important component, with multiple subway lines providing reliable connections into Manhattan and across Brooklyn. For many buyers, this accessibility, combined with the neighborhood’s scale and architectural character, positions Prospect Heights as a compelling alternative to nearby areas with higher entry points.

How Inventory Affects Sellers

Inventory in Prospect Heights tends to remain constrained, not as a temporary condition, but as a structural characteristic of the neighborhood. Opportunities for new development are limited, and existing housing stock changes hands relatively infrequently.

As a result, when properties come to market in strong condition and are priced appropriately, they are often met with focused buyer interest rather than broad but uncertain activity.

Seller Insight
In a market shaped by limited supply and consistent demand drivers, preparation and pricing strategy often determine how efficiently a property moves rather than whether it will attract attention.

What Sellers Should Consider

For homeowners considering a sale, pricing remains one of the most influential factors. Buyers in Prospect Heights tend to be well-informed and selective, responding most strongly to properties that align clearly with current market expectations.

Condition, light, layout, and outdoor space all play a role, particularly in a neighborhood where architectural character is a defining feature. Properties that present well from the outset are more likely to generate meaningful interest without extended time on market.

Timing can also influence outcomes. While spring typically brings an increase in activity, Prospect Heights does not experience the same degree of seasonal slowdown seen in some markets. Serious buyers remain active throughout the year, particularly for well-located and well-prepared homes.

For additional context on how nearby markets are performing, our Park Slope property values update provides a useful comparison.

For homeowners thinking about selling a home in Brooklyn, understanding how local conditions apply to your specific property is an important first step.

If you own property in Prospect Heights and are considering a sale - now or in the near future - a Complimentary Property Valuation can help clarify where your property stands and how current conditions may influence your approach.

No pressure. Just clarity.

Accord Real Estate Group
Serving Brooklyn Sellers

Carroll Gardens remains one of Brooklyn's most supply-constrained and consistently high-performing residential markets. Known for its landmark brownstone blocks, distinctive front gardens, and village-like character, the neighborhood continues to command premium pricing across property types.

For homeowners considering a sale in 2026, understanding current pricing dynamics, buyer behavior, and inventory conditions can make a meaningful difference in timing and strategy.

Carroll Gardens Property Values in Early 2026

Median sale prices in Carroll Gardens continue to exceed $2 million across most tracking platforms, with renovated brownstones and townhouses frequently trading between $2.5 million and $7 million depending on size, condition, and location.

Price per square foot remains elevated, generally ranging between $1,350 and $1,500, reflecting the strong demand for historic properties and the limited ability to add new supply within the neighborhood.

Inventory remains exceptionally tight. In many cases, fewer than 25 active listings are available at any given time, reinforcing seller leverage and supporting pricing stability even as broader market conditions fluctuate.

What Is Driving Demand in Carroll Gardens

Buyer demand in Carroll Gardens continues to be driven by a combination of factors that are difficult to replicate elsewhere in Brooklyn, particularly when compared to nearby markets such as Park Slope property values, where pricing dynamics and inventory trends follow a slightly different pattern.

Historic architecture, landmark protections, and low-rise zoning preserve the character of the neighborhood and limit future competition from new development. Families relocating from Manhattan remain a primary buyer group, drawn by school access, neighborhood scale, and proximity to transit.

At the same time, limited condo inventory and strong demand for turnkey properties continue to push buyers toward well-positioned listings quickly, often resulting in competitive situations for properly priced homes.

How Inventory Constraints Affect Sellers

Carroll Gardens remains one of the clearest examples of a structurally supply-constrained market in Brooklyn. Zoning restrictions and historic district protections significantly limit new development, meaning that most available inventory consists of existing brownstones, conversions, and small boutique buildings.

This scarcity continues to support pricing power for sellers, particularly for properties located on prime blocks or those with preserved architectural details.

What Carroll Gardens Sellers Should Consider

Pricing in Carroll Gardens is highly sensitive to block, property type, and condition. Prime streets with deeper front gardens and landmark character often command significant premiums over nearby locations.

Presentation also plays an important role. Buyers in this market tend to be highly selective, and properties that highlight original details, light, and outdoor space typically perform better than those requiring significant updates.

Timing remains an important factor. The spring market continues to be one of the most active periods for Carroll Gardens, particularly among buyers planning ahead for the next school year.

For homeowners thinking about selling a home in Brooklyn, understanding how local market conditions affect your specific property is an important first step.

If you own property in Carroll Gardens and are considering a sale - now or in the near future - a Complimentary Property Valuation can help clarify where your property stands in today’s market and how current conditions may influence your strategy.

No pressure. Just clarity.

Related Carroll Gardens Seller Guides

• What Buyers Pay More For in Carroll Gardens
• Should You Renovate Before Selling in Carroll Gardens?
• Hidden Seller Opportunities in Carroll Gardens in 2026
• When Is the Best Time to Sell in Carroll Gardens?

Accord Real Estate Group
Serving Brooklyn Sellers

If you own a brownstone, condo, or co-op in Park Slope, you are holding one of Brooklyn's most consistently in-demand real estate assets. While national headlines focus on interest rate uncertainty and cooling markets, Park Slope continues to behave differently.

Early 2026 data shows a market that remains resilient, competitive, and supply-constrained. For homeowners even remotely considering a sale, understanding the forces shaping the local market right now can make a meaningful difference in pricing and timing strategy.

Park Slope Market Snapshot

Recent data shows continued strength in the Park Slope market. Median sale prices rose from approximately $1.51 million in early 2025 to roughly $1.6 million by the end of the year, while price per square foot climbed to about $1,462 — an increase of nearly 9% year over year.

Larger homes are seeing the most dramatic gains. Four-bedroom properties increased more than 20% year over year, while three-bedroom homes rose over 13%. Average days on market remain relatively low at roughly 42 days.

Inventory also remains limited. Active listings declined significantly during 2025, reinforcing the structural scarcity that has long supported Park Slope pricing.

Why Buyers Continue to Target Park Slope

Understanding buyer demand helps sellers understand their pricing power. Park Slope is not simply another Brooklyn neighborhood — it is consistently ranked among the most desirable urban communities in the United States.

Prospect Park provides nearly 600 acres of green space within walking distance for most residents. The neighborhood is also anchored by highly sought-after public schools such as PS 321 and PS 107, which draw families willing to pay substantial premiums to secure access.

Transit connectivity further strengthens demand. Multiple subway lines along Fourth Avenue, Seventh Avenue, and Atlantic Terminal provide direct access to Manhattan, making the neighborhood attractive for commuters.

Finally, Park Slope's historic housing stock — particularly its landmarked brownstones — creates structural scarcity that continues to support pricing over time.

Selling in Park Slope: What Homeowners Should Know in 2026

If you are thinking about selling in Park Slope, understanding the neighborhood's pricing dynamics and buyer demand is critical. Park Slope homes continue to attract families relocating from Manhattan and buyers seeking brownstone Brooklyn housing, which keeps competition strong for well-priced listings.

Brownstones and Townhouses

The Park Slope townhouse market remains one of Brooklyn's strongest segments. Families relocating from Manhattan or returning from the suburbs are competing for renovated homes on prime blocks. Properties on the numbered streets closest to Prospect Park often command the highest premiums.

Condominiums

Condominiums in Park Slope have remained stable, with median pricing around $1.4 million. Buyers seeking modern amenities, elevators, and private outdoor space continue to support the upper end of the condo market.

Co-operatives

The co-op segment remains the neighborhood's most accessible price point. Median co-op pricing has remained near $885,000, though board policies and financial requirements can significantly influence marketing strategy and transaction timelines.

Market Forces Shaping the 2026 Selling Environment

Several larger trends are shaping the Park Slope market in early 2026.

Inventory remains historically constrained as many homeowners remain locked into low mortgage rates from earlier years. This limits supply and increases competition for new listings.

Buyer demand is also recovering as interest rates stabilize and high-income households re-enter the market. Some investors and buyers are increasingly viewing real estate — particularly brownstones — as long-term stores of value.

At the same time, elevated construction costs continue to limit new development, reinforcing the value of existing housing stock throughout the neighborhood.

Common Mistakes Park Slope Sellers Make

Even in strong markets, pricing mistakes can cost sellers time and leverage.

One of the most common errors is pricing based on aspirational comparables rather than true block-level data. Not all Park Slope locations trade equally, and small differences in proximity to Prospect Park, schools, and transit can affect value significantly.

Presentation also matters. Buyers in Park Slope tend to be sophisticated and expect move-in ready properties. Strategic pre-listing improvements — fresh paint, minor kitchen updates, and cosmetic repairs — can often produce meaningful returns.

Timing the Park Slope Market

The seasonal rhythm of Park Slope real estate is relatively predictable.

The March through May spring market typically brings the highest buyer activity, particularly from families seeking to secure housing before the next school year.

Early fall is the second-strongest selling season, while mid-summer and mid-winter markets tend to be quieter but can still work well for unique properties with limited competition.

What This Means for Park Slope Homeowners

Park Slope remains one of Brooklyn's most resilient housing markets. Limited supply, strong neighborhood identity, and consistent buyer demand continue to support property values.

If you own property in Park Slope and are considering a sale — now or in the future — understanding your property's current market position is the first step toward making a smart decision.

A Complimentary Property Valuation can help clarify where your property stands in today's market and what pricing strategy may make the most sense.

No pressure. Just clarity.

Accord Real Estate Group
Serving Brooklyn Sellers

If you own property in Brooklyn Heights, the proposed rezoning at 25 and 30 Columbia Heights is one of the most consequential local development stories in years.

CIM Group has asked the city to rezone the former Watchtower properties from commercial to mixed-use residential, potentially bringing 661 new homes to one of Brooklyn’s most established and tightly held neighborhoods. For property owners, this is not simply a development story — it is a market-positioning story.

What Is Being Proposed at 25 and 30 Columbia Heights

CIM Group, now the sole remaining owner after LivWrk and Kushner Companies exited, filed its rezoning application with the New York City Department of City Planning in late 2025. As of early March 2026, the proposal has entered the ULURP process, with a public environmental scoping meeting scheduled for March 12.

Under the current plan, 25 Columbia Heights would expand from 12 to 17 stories and include 392 residential units. At 30 Columbia Heights, one additional story would be added to create 269 units. Together, the two buildings could yield 661 new homes, with roughly 20 to 30 percent designated as affordable housing, depending on the option selected.

Both buildings are currently vacant, reflecting the longer-term softness in office demand and the continued reordering of commercial real estate in New York City.

Why This Matters for Brooklyn Heights Property Owners

Brooklyn Heights is valuable in part because it changes slowly. Its brownstone blocks, waterfront access, Brooklyn Bridge Park, and long-established neighborhood identity create a level of scarcity that continues to attract both local and international buyers.

When a substantial number of new residential units are proposed in a neighborhood with historically constrained supply, the outcome is rarely simple. New supply can create short-term questions, but it also reinforces buyer attention, media visibility, and long-term demand for the surrounding housing stock.

That is especially true in a location like Columbia Heights, where the underlying appeal of the neighborhood is already firmly established.

The Broader Neighborhood Context,/h2>

For decades, the Jehovah’s Witnesses shaped this part of the Brooklyn waterfront. Their gradual departure and the sale of more than 37 properties transformed both Brooklyn Heights and DUMBO over a period of years.

In many cases, those conversions strengthened neighborhood pricing rather than weakening it. Former industrial or institutional properties became some of Brooklyn’s best-known residential addresses, helping redefine the area as a premium housing market.

The proposed rezoning at 25 and 30 Columbia Heights may represent the final major chapter in that transition.

What Sellers Should Be Thinking About Now

The rezoning remains in its early stages. A ULURP review of this scale often takes 12 to 18 months, and actual residential delivery would come well after that.

Still, development stories of this magnitude tend to influence market psychology before construction begins. Public review, media coverage, and neighborhood discussion all contribute to how buyers perceive future value.

For Brooklyn Heights sellers, that means timing matters. Some owners may prefer to sell while the neighborhood’s long-term trajectory is receiving renewed attention. Others may prefer to wait and see how approvals, design revisions, and market conditions unfold.

Neither approach is automatically right. The better question is how your specific property fits into the timeline, buyer pool, and block-level context.

What This Means for Brooklyn Heights Property Owners

The proposed Columbia Heights rezoning is another signal that Brooklyn Heights continues to attract long-term residential investment at the highest level.

For sellers, the key issue is not simply whether 661 units are being proposed. It is how this shift may affect perception, pricing strategy, and buyer demand for your specific property in the months and years ahead.

If you own property in Brooklyn Heights and are considering a sale - now or in the future - a complimentary property valuation  can help clarify where your property stands in today’s market and how nearby development may influence positioning.

No pressure. Just clarity.

Accord Real Estate Group
Serving Brooklyn Sellers

If you own property in Greenpoint - near the waterfront, Franklin Street, or the Bushwick Inlet corridor — February 2026 may prove to be a pivotal moment.

On February 10, Community Board 1 voted 24–9 to grant qualified approval to the Monitor Point development at 40–56 Quay Street. The proposal includes 1,150 residential units across three towers, with the tallest rising 600 feet — a significant addition to a neighborhood that already commands some of the strongest sale prices in North Brooklyn.

Development Has Historically Elevated Greenpoint Values

Since the 2005 rezoning, more than 26,000 units have been built within Community Board 1. Over that same period, Greenpoint has steadily strengthened in desirability and pricing.

Market-rate two-bedroom rentals were averaging approximately $5,700 per month as of mid-2025 — evidence of sustained demand rather than oversupply.

Monitor Point will add 1,150 units (40% permanently affordable), with completion projected around 2031 following MTA facility relocation in 2028. Importantly, value shifts in Brooklyn often begin at the announcement and approval stage — well before ground is broken.

What This Project Adds — and Why It Matters to Sellers

Waterfront activation

The plan includes approximately 50,000 square feet of publicly accessible waterfront open space connecting to Bushwick Inlet Park. Brooklyn’s recent history demonstrates that waterfront park access consistently enhances buyer demand.

Removal of MTA facilities

The relocation of two MTA sites opens the long-anticipated Box Street Park. Improvements to livability and public space tend to translate directly into stronger buyer positioning.

Transit considerations

Community Board 1 has tied its approval to expanded G train service. For properties near Greenpoint Avenue and Nassau Avenue, transit investment can meaningfully influence buyer premiums.

The Honest Tension

Monitor Point will be significant in scale. A 600-foot tower adjacent to Bushwick Inlet Park is unprecedented locally, and shadow impacts have been raised during review.

Brooklyn’s past rezonings suggest a familiar pattern:
• Short-term uncertainty
• Followed by long-term appreciation

However, proximity matters. Properties directly adjacent to active construction zones may experience temporary softness, while those positioned to benefit from new amenities — without direct construction impact — often outperform.

For sellers considering a 12–36 month horizon, timing relative to approval phases, ULURP progression, and construction milestones can materially influence outcome.

What This Means for Greenpoint Property Owners

Development pressure in northern Greenpoint is accelerating. Owners who understand how their specific block sits within the project’s timeline — including amenity proximity, view corridors, zoning buffers, and construction adjacency — will be best positioned to maximize value.

There is no one-size-fits-all answer. Block-level analysis matters.

If you own property in Greenpoint and would like a current, block-specific assessment, you may request a Confidential Property Valuation reflecting development timing, comparable sales, and projected market positioning.

Call 718-375-2065 or email info@accreg.com to discuss your property confidentially.

No obligation. Confidential consultation.

Accord Real Estate Group
Serving Brooklyn Sellers

The Atlantic Avenue rezoning 2026 plan is reshaping how property owners think about value and future potential along one of Brooklyn’s key corridors. With city-approved zoning changes and a wave of new residential construction underway, understanding how the Atlantic Avenue rezoning impacts property value in Crown Heights is essential for owners considering selling, redevelopment, or long-term holding strategies.

How Atlantic Avenue Rezoning Changes Development & Density

Rezoning in 2026 represents more than a planning headline — it is a significant shift in how land use and density are officially permitted along Atlantic Avenue and adjacent blocks. The changes are expected to support taller residential buildings, mixed-use development, and increased housing supply. For many Crown Heights property owners, this means revisiting assumptions around rezoning impact on Crown Heights property values.

Recent city planning updates project thousands of new homes along Atlantic Avenue, with a meaningful portion designated for affordable housing and neighborhood services. These policy changes influence demand, investor interest, and the feasibility of redevelopment sites — important factors for owners evaluating their options today rather than years from now.

How Rezoning Affects Property Value in Crown Heights

Rezoning typically expands allowable building envelopes and can increase the highest and best use of a property. For example:

• Formerly lower-density commercial parcels may now be viable for residential or mixed use, expanding their potential value.
• Multi-family owners may see heightened investor interest based on allowable density increases.
• Properties near transit and commercial corridors often benefit from rezoning that attracts long-term capital.

These shifts influence buyer perception and demand, especially for owners who ask: “How will Atlantic Avenue rezoning affect my property’s value?” Understanding this helps position your asset more strategically.

Should I Sell Before Atlantic Avenue Rezoning Takes Effect?

Timing is an important consideration for owners along Atlantic Avenue and in Crown Heights. Rising demand and expanded zoning may create market momentum, which can influence pricing and leverage during negotiations. Some owners ask whether to sell before rezoning fully takes effect; others consider holding to capture value from increasing density allowances.

A key consideration is whether your property’s current use is near its “highest and best use” under existing zoning. If the rezoning substantially increases development potential, your property may command a premium. A Complimentary Property Valuation can help clarify how rezoning trends may affect your specific property’s timing and pricing.

Atlantic Avenue Mixed-Use Plan: Context and Implications

The Atlantic Avenue Mixed-Use Plan is part of a broader city effort to encourage housing growth along major corridors while supporting neighborhood-serving retail and infrastructure improvements. While rezoning is designed to promote development and affordability goals, it also changes the real estate calculus for owners with:

• Underutilized commercial buildings
• Transitional or parking lots
• Multi-family buildings near transit

For these owners, rezoning may convert latent land value into realized development interest. Whether considering selling now or planning long-term redevelopment, understanding the rezoning outlook allows you to evaluate where your property sits within the projected market shift.

Development Trends and Long-Term Outlook

Rezoning is just one piece of a larger real-estate demand pattern in Brooklyn. Atlantic Avenue’s evolution from industrial past to a vibrant mixed-use corridor has already been noticeable in construction activity and new listings. When a corridor transitions in this way, neighboring blocks often see increased buyer interest — even if they are not directly rezoned.

Owners of:

• Mixed-use buildings
• Multi-family properties
• Retail plus residential sites
• Development parcels

should educate themselves on the rezoning implications for their specific property type. Trend awareness can shape whether you decide to time a sale or pursue alternative strategies like long-term holding or assemblage.

Next Steps: Understanding Your Property’s Potential

If you own property along Atlantic Avenue or in Crown Heights and want to understand how rezoning may influence your property’s market value, timing, and leverage, request a Confidential Property Valuation.

Call 718-375-2065 or email info@accreg.com to discuss your property confidentially.

At Accord Real Estate Group, our approach is grounded in Experience, Integrity, and Results - principles that have guided Brooklyn property owners through decades of market cycles.

Fort Greene neighborhood continues to balance historic preservation with carefully planned growth — and that balance matters to property owners.

A proposed residential tower at 144 St. Felix Street would incorporate the historic Hanson Place Central United Methodist Church into a new mixed-use development. The design preserves the church’s neo-Gothic façade while adding new residential density above. After review by the Landmarks Preservation Commission, the project was modified to better complement the surrounding historic district.

Why does this matter to you?

Fort Greene sits near the Brooklyn Academy of Music Historic District and the iconic Williamsburgh Savings Bank Tower. Development in landmark-adjacent areas often signals strong long-term buyer confidence — especially when growth is controlled rather than overbuilt.

What This Means for Fort Greene Property Values/

When development occurs within or near historic districts:

• Buyer demand often strengthens due to limited supply
• Landmark status can support premium pricing
• Development pressure may increase assemblage interest
• Investors begin analyzing underutilized properties more closely

If you own:
– A townhouse
– A multi-family building
– A mixed-use property
– Or a site with development potential

It may be worth understanding how current activity affects your property’s positioning.

Why Timing Matters in the Fort Greene Real Estate Market

Periods of visible investment often create momentum. Buyers and developers move when they believe an area’s trajectory is upward. That momentum can influence pricing strategy, negotiation leverage, and marketing approach.

For property owners in and around Fort Greene, infrastructure and preservation-driven projects like this often influence buyer demand, long-term value perception, and redevelopment interest. Understanding how these changes affect timing and pricing is especially important when considering a sale.

Selling Property in Fort Greene: What Owners Should Consider

If you own property in Fort Greene and are considering selling — or simply want clarity on how current development activity may impact your asset — a Confidential Property Valuation  can provide objective insight before market conditions shift further.

At Accord Real Estate Group, our approach is grounded in Experience, Integrity, and Results — principles that have guided Brooklyn property owners through decades of market cycles.

To request your Complimentary Property Valuation or discuss selling your property, call 718-375-2065 or email info@accreg.com.

The borough we know and love continues to evolve, and we couldn't be more enthusiastic about the latest developments transforming Brooklyn's residential landscape. Two significant projects are now underway that showcase the kind of dynamic growth we've been witnessing throughout our 35 years serving clients in Brooklyn, Manhattan, and Queens. Whether you're a property owner considering selling or an investor watching market trends, these developments offer important insights into Brooklyn's real estate future.

757 Flatbush Avenue: Modern Living Meets Historic Flatbush

Foundation work is now well underway at 757 Flatbush Avenue, where New Empire Corp. is bringing a thoughtfully designed nine-story luxury condominium to the heart of Flatbush. This exciting project, designed by Morali Architecture with interiors by Paris Forino, represents exactly the kind of thoughtful development that honors a neighborhood's character while meeting modern needs.

Located between Clarkson Avenue and Lenox Road, this 140,000-square-foot building will house 131 residential units ranging from studios to three-bedroom homes. What makes this development particularly noteworthy is its strategic position at the convergence of Prospect Lefferts Gardens, Windsor Terrace, and Flatbush—three of Brooklyn's most sought-after neighborhoods.

The project broke ground in August 2025, and foundation work is progressing rapidly. The development team is forming concrete perimeter walls and installing steel rebar, with the building expected to rise above street level before winter ends. Completion is slated for the third quarter of 2027.

Why This Matters for Property Owners:

This level of investment in Flatbush demonstrates strong developer confidence in the area's continued appreciation. The project's proximity to Prospect Park, excellent subway access via the Q train at Parkside Avenue, and the vibrant Little Caribbean dining district all contribute to the neighborhood's appeal. For owners of single-family homes, multi-family properties, or mixed-use buildings in the area, this type of high-quality development typically has a positive ripple effect on surrounding property values.

The building will also feature ground-floor retail space with 125 feet of frontage along Flatbush Avenue, contributing to the neighborhood's commercial vitality. Amenities include a state-of-the-art fitness center, pool, sauna, golf simulator, coworking space, children's playroom, and over 27 private parking spaces—the kind of features that today's buyers expect.

280 Kent Avenue: Williamsburg Waterfront's Twin Towers Take Shape

Along the Williamsburg waterfront, an even larger transformation is underway. At 280 Kent Avenue, foundation work is progressing on a pair of 50-story residential skyscrapers that will redefine Brooklyn's waterfront skyline. Designed by REX and developed by Two Trees, these twin 591-foot towers will bring 1,262 residential units to the borough.

As part of the five-building Domino Sugar master plan, this project—known as Building B—occupies an entire city block bounded by South 1st Street, South 2nd Street, Kent Avenue, and River Street. The development spans approximately 1.17 million square feet and will include 12,230 square feet of commercial space, an enclosed parking garage, and notably, 25% of units designated as affordable housing.

Recent construction photos show significant progress since excavation began in late spring 2025. The site has been fully unearthed, with machinery actively drilling and driving pilings. Steel plating is temporarily bracing the retaining walls, and foundation work is advancing steadily. With a tower crane now active and rebar installation underway, the project is on track to meet its fall 2030 completion date.

Market Implications:

The Williamsburg waterfront has emerged as one of Brooklyn's most prestigious addresses, and this development continues that trajectory. The twin towers' curved glass facades and wraparound balconies with distinctive elliptical cutouts will create a striking architectural statement visible from across the East River.

For property owners in Williamsburg and surrounding neighborhoods, this continued waterfront development reinforces the area's status as a premier Brooklyn location. The combination of luxury residential towers, the nearby Domino Park, and improved waterfront access creates a neighborhood amenity package that enhances value throughout the area.

What This Means for Your Property

Whether you own a single-family home, multi-family property, mixed-use building, or development site in Brooklyn, Manhattan, or Queens, understanding these market dynamics is crucial. New developments like these often signal:

Increased neighborhood desirability that can enhance surrounding property values

Infrastructure improvements as neighborhoods modernize to accommodate new residents

Growing buyer interest in areas experiencing this level of investment

Potential opportunities for property owners considering a sale

These two developments—one in historic Flatbush, the other on the reimagined Williamsburg waterfront—represent Brooklyn's continuing evolution. They showcase how the borough balances preservation of community character with forward-looking growth.

Let Us Guide You

If you own property in Flatbush, Williamsburg, or elsewhere in Brooklyn and are considering selling — now or in the future — you may benefit from a confidential property valuation informed by current development trends.

Market dynamics are shifting, new developments are attracting buyer attention to various neighborhoods, and having an experienced broker on your side makes all the difference.

At Accord Real Estate Group, we provide exceptional service, keep our clients constantly updated, and make the marketing and sales process comfortable and anxiety-free. We understand that selling property represents a significant financial decision, and we're committed to achieving the best possible results for you.

Ready to discuss your property?

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.

If you own property in or around Coney Island, you'll want to pay close attention to what's happening along the iconic boardwalk. A massive billion-dollar revitalization project is underway, and it's poised to reshape one of Brooklyn's most storied neighborhoods in ways that could significantly impact property values and investment opportunities.

A Historic Makeover Takes Shape

The Coney Island boardwalk, a beloved New York landmark that has weathered decades of storms, neglect, and changing times, is finally getting the comprehensive overhaul it deserves. This isn't just a fresh coat of paint—we're talking about a transformative investment that aims to restore the boardwalk's former glory while preparing it for a vibrant future.

The project addresses critical infrastructure needs while creating new opportunities for businesses, residents, and visitors alike. From structural improvements to enhanced public spaces, this initiative represents one of the most significant investments in Coney Island's waterfront in generations.

What This Means for Property Owners

If you own residential or commercial property in Coney Island, South Brooklyn, NY or nearby neighborhoods, this development deserves your attention. Large-scale infrastructure projects like this historically have a ripple effect on surrounding real estate values. Here's why:

Increased foot traffic and visibility. As the boardwalk becomes more attractive and accessible, expect more visitors, which translates to greater demand for nearby retail spaces, restaurants, and entertainment venues.

Improved infrastructure. Better public amenities and updated facilities make the entire area more desirable for both residents and businesses, which can positively influence property values.

Enhanced neighborhood appeal. A revitalized waterfront often serves as a catalyst for broader neighborhood improvements, attracting new investment and development interest.

Market momentum. Buyers and investors pay attention to areas experiencing significant public investment, often positioning themselves early to capitalize on anticipated growth.

Timing Matters in Real Estate

At Accord Real Estate Group, we've spent over 35 years helping property owners across Brooklyn and Manhattan navigate market changes and capitalize on emerging opportunities. One thing we've learned: timing can make a substantial difference in the results you achieve when selling real estate.

If you've been considering selling property in Coney Island or surrounding areas, now is an excellent time to have a conversation about your options. Whether you want to capture value before construction impacts intensify, or you're curious about how to position your property to benefit from the completed improvements, we can help you develop a strategic approach.

Our Commitment to Brooklyn and Manhattan Property Owners

From one end of Brooklyn to the other, we've helped property owners achieve top-dollar results through personalized service and expert market knowledge. We don't believe in one-size-fits-all solutions. Instead, we take the time to understand your unique situation, goals, and timeline to create a customized marketing strategy for your property.

The Coney Island boardwalk transformation is the kind of game-changing development that creates both opportunities and questions for property owners. Whether you're curious about current market conditions, wondering how this project might affect your property's value, or ready to explore your selling options, we're here to help.

Let's Talk About Your Property

Real estate decisions are significant, and you deserve a broker who brings both expertise and a personal touch to the process. If you own property in Coney Island, Brighton Beach, Sheepshead Bay, or anywhere else in Brooklyn or Manhattan, let's discuss how current market conditions and upcoming developments might impact your real estate goals.

At Accord Real Estate Group, we're not just brokers—we're your neighbors, your advocates, and your partners in achieving the best possible outcome for your real estate assets. Let's explore what's possible for your property.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.

Martin Luther King Jr. Day (officially Birthday of Martin Luther King, Jr., and sometimes referred to as MLK Day) was approved as a federal holiday in 1983 and it has been recognized in all 50 states since 2000in the United States marking the birthday of Martin Luther King Jr. It is observed on the third Monday of January each year. King's birthday is January 15.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

There's something exciting happening at the Brooklyn Navy Yard, and it's catching the attention of anyone who understands how cultural investments shape real estate markets. The historic industrial campus is rolling out an ambitious public art program in 2026, and for property owners in surrounding neighborhoods, this development tells a compelling story about where Brooklyn is headed.

Art as Economic Catalyst

The Navy Yard's commitment to public art isn't just about aesthetics—it's a strategic move that signals confidence in the area's ongoing transformation. When a major employment and manufacturing hub like the Navy Yard invests in its cultural landscape, it creates ripple effects throughout surrounding communities. We've seen this pattern before in Brooklyn: art installations and cultural programming often precede increases in foot traffic, local business development, and ultimately, property values.

For homeowners in nearby neighborhoods like Fort Greene, Clinton Hill, Williamsburg, and Dumbo, this initiative reinforces what many have already observed—the Navy Yard continues evolving from an industrial relic into a vibrant mixed-use destination that enhances the entire area's appeal.

Understanding the Bigger Picture

At Accord Real Estate Group, we've spent 35 years helping property owners recognize moments of transition in their neighborhoods. The Navy Yard's public art program is one of those markers. It demonstrates that the facility's leadership understands modern urban planning: successful industrial campuses today must offer more than just workspace. They need to create environments where people genuinely want to spend time.

This matters for residential property owners because the Navy Yard already employs over 10,000 people across 400+ businesses. As the campus becomes more attractive and accessible—with art installations enhancing walkability and visitor experience—it strengthens its position as a neighborhood anchor rather than just an employment zone.

What Property Owners Should Consider

If you own property within proximity to the Navy Yard, you might be wondering what this development means for your real estate asset. Here are a few perspectives worth considering:

Timing and Market Positioning: Cultural investments like public art programs typically indicate that an area has moved beyond early-stage revitalization. The Navy Yard initiative suggests the neighborhood has reached a maturity level where amenities and quality of life take center stage. For sellers, this can mean positioning your property within a narrative of established desirability rather than emerging potential.

Buyer Demographics: Public art and cultural programming tend to attract buyers who value neighborhood character and community engagement. If your property appeals to young professionals, creative industry workers, or families seeking culturally rich environments, the Navy Yard's direction aligns with what these buyers prioritize.

Long-Term Neighborhood Trajectory: While no single initiative determines a neighborhood's future, the Navy Yard's public art program fits into a broader pattern of investment in North Brooklyn. It's another data point suggesting sustained institutional commitment to making this area a destination, not just a pass-through.

The Accord Real Estate Group Approach

When we consult with property owners considering a sale, we look beyond just comparable properties and recent transactions. We examine developments like the Navy Yard's public art initiative because they help us understand the story your property sits within. Whether you're selling a single-family brownstone, a multi-family building, a mixed-use property, or a development opportunity, context matters enormously.

Our three-and-a-half decades of experience have taught us that successful real estate marketing isn't about overpromising—it's about accurately positioning your asset within the genuine narrative of its neighborhood. The Navy Yard's evolution is part of that narrative for many Brooklyn property owners right now.

Looking Forward

The Brooklyn Navy Yard has transformed dramatically over the past two decades, and 2026's public art rollout represents another chapter in that evolution. For property owners nearby, it's worth paying attention to these developments—not because any single initiative will dramatically change your property's value overnight, but because collectively, they paint a picture of where investment and attention are flowing.

If you've been considering selling your Brooklyn property and wondering about timing, or if you're simply curious about how developments like this affect your real estate asset's positioning, we'd welcome a conversation. At Accord Real Estate Group, we bring personalized, expert consulting to every client, helping you understand not just what your property is worth, but why—and how to tell that story effectively to the right buyers.

The neighborhoods surrounding the Brooklyn Navy Yard are writing their next chapter. We're here to help you decide if now is the right time to turn your page.

Accord Real Estate Group has been serving property owners throughout Brooklyn and New York City for 35 years, providing expert consulting on marketing and sales for single-family residential, multi-family residential, mixed-use buildings, and development opportunities. Our commitment to exceptional, personalized client service means you'll have experienced advisors by your side through every step of your real estate journey.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.

After more than two decades of delays and challenges, Brooklyn's massive Pacific Park development is finally moving forward under new leadership—and the implications for property owners and investors in the borough are significant!

A Major Turning Point for Brooklyn Real Estate

We're excited to share some groundbreaking news from Brooklyn's real estate landscape. A joint venture led by Cirrus Real Estate Partners and LCOR has officially taken control of the remaining sites at Pacific Park, the ambitious megadevelopment that has been a work in progress since 2003. Through a foreclosure auction, this new partnership acquired development rights to six rail yard sites after the previous developer, Greenland USA, defaulted on nearly $350 million in loans.

This is more than just a developer change—it's a pivotal moment for one of Brooklyn's most talked-about projects and a signal of renewed confidence in the borough's development potential.

Understanding the Scale and Scope

Pacific Park, originally known as Atlantic Yards when first proposed in 2003, represents one of the most ambitious mixed-use developments in New York City history. The project envisions over 6,400 apartments, with 2,250 designated as below market-rate affordable housing. So far, nine buildings have been completed, including the iconic Barclays Center, with more than 3,200 apartments already delivered.

The remaining development will take place over rail yard sites between Pacific Street and Atlantic Avenue, requiring the construction of platforms over active train tracks—a massive engineering undertaking that demonstrates the complexity and scale of modern urban development.

What Makes This Development Significant

For property owners in Brooklyn, this news carries several important implications:

Market Confidence: The involvement of experienced developers like Cirrus and LCOR signals strong institutional confidence in Brooklyn's real estate market. When major players commit billions to a long-stalled project, it speaks volumes about the area's long-term value proposition.

Infrastructure Investment: The first phase alone is estimated at $4 billion and will take approximately five years to complete. This level of investment in infrastructure and housing stock typically has positive ripple effects throughout surrounding neighborhoods.

Affordable Housing Commitment: The new development team has committed $12 million toward an affordable housing fund and must deliver 876 remaining affordable units. This mixed-income approach helps create sustainable, diverse communities that tend to maintain long-term stability.

Timeline Clarity: Unlike the previous uncertainty, the new developers have outlined a concrete timeline, with expectations to finalize plans over the next year and a half. For property owners considering selling or investing in Brooklyn, having clarity on major developments is invaluable for strategic planning.

The Broader Brooklyn Story

This development milestone reflects Brooklyn's remarkable evolution over the past two decades. The borough has transformed from an affordable alternative to Manhattan into a destination in its own right, attracting residents, businesses, and major institutional investors. Property values in areas surrounding major developments like Pacific Park have historically appreciated as these projects come to fruition and neighborhoods mature.

For property owners throughout Brooklyn, particularly those near Prospect Heights, Park Slope, and Downtown Brooklyn, the advancement of Pacific Park represents continued momentum in the borough's growth trajectory. It's a reminder that even complex, long-delayed projects can find new life when the right team and market conditions align.

What Property Owners Should Consider

If you own real estate in Brooklyn, now is an excellent time to evaluate your property's position in the market. Major developments like Pacific Park don't just impact their immediate surroundings—they influence transportation patterns, commercial activity, and residential desirability across entire neighborhoods.

At Accord Real Estate Group, we've spent over 35 years helping property owners navigate complex market dynamics and make informed decisions about when and how to sell their real estate assets. Our experience, integrity, and focus on results have served our clients well through multiple market cycles, and we remain committed to our Brooklyn community.

Whether you're considering selling now to capitalize on current market strength, or you're planning for the future and want to understand how developments like Pacific Park might affect your property's value, we're here to help. Our team combines deep market knowledge with a personalized approach that puts your goals first.

Looking Ahead

The Pacific Park story is far from over, but this new chapter is undeniably exciting. With experienced developers at the helm, concrete timelines established, and billions in investment committed, Brooklyn's real estate landscape is poised for continued evolution.

For property owners, the message is clear: Brooklyn remains a market with tremendous opportunity, backed by substantial institutional investment and ongoing transformation. Whether you're a long-time owner or recent investor, staying informed about major developments and their implications is essential to maximizing your real estate investment.

Ready to discuss your real estate property? The team at Accord Real Estate Group is here to provide expert guidance on selling your real estate assets. With over 35 years of experience serving property owners, we combine market expertise with the personalized service you deserve.

Contact us today:

Call: 917-804-3198 (Cell) or 718-375-2065 (Office)

Email: info@accreg.com

Experience. Integrity. Results.

Just take a drive to the Dyker Heights neighborhood where the Christmas lights, animated Santas, Elves, Raindeer and Snowmen are world class in their presentation or you might want to visit Mill Basin or Bergen Beach to checkout Christmas Lights. If you are with family, friends, all of your loved ones (especially kids) for the holidays and you want to see how Brooklyn does Christmas, come and take a drive around Brooklyn Neighborhoods. There may be a lot of cars but you will have a great time.

We at Accord Real Estate Group want to wish our clients We wish our clients, their families, friends and loved ones, our website visitors, our fellow Real Estate Brokers and Agents and their loved ones a Happy, Healthy, and prosperous new 2026 year.

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.  

Hanukkah is usually falls in November or December and it is observed for eight nights and days. Hanukkah 2025 begins on the evening of Sunday, December 14 and ends on the evening of Monday, December 22.

Happy Festival of Lights!!!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

The Gowanus neighborhood in Brooklyn is experiencing one of New York City's most dynamic real estate transformations, and the progress at Nevins Landing serves as a prime example of how strategic development is reshaping property values throughout this historic waterfront community.

Understanding the Nevins Landing Development

Nevins Landing is a two-tower residential complex at 310-340 Nevins Street, spanning 600,000 square feet with 654 rental units across 2.3 acres along the Gowanus Canal. The project, designed by Fogarty Finger and developed by Charney Companies and Tavros Capital, represents a significant milestone in the neighborhood's evolution. Both 22-story towers are expected to reach completion in spring 2026, adding substantial new housing inventory to one of Brooklyn's most rapidly developing areas.

What makes this development particularly noteworthy is its scale and positioning. In 2021, the site set records as the largest residential development deal in New York City when it sold for $102 million, signaling strong institutional confidence in Gowanus's future trajectory.

The Broader Gowanus Wharf Vision

Nevins Landing is just one component of a larger master-planned development known as Gowanus Wharf. The Charney Companies and Tavros Capital portfolio collectively spans more than 2 million square feet and will yield 2,200 units, making these developers the largest property owners in the neighborhood. This coordinated approach to neighborhood development creates a multiplier effect on surrounding property values.

The project includes ground-floor retail space with 225 feet of frontage along both Union Street and the Gowanus Canal, plus a shared esplanade designed by James Corner Field Operations. These public amenities enhance the entire neighborhood's appeal, benefiting existing property owners who see their assets gain value from improved infrastructure and community spaces.

What This Means for Property Owners

For property owners throughout Gowanus and surrounding neighborhoods, developments like Nevins Landing create several important implications:

Increased Neighborhood Desirability: Large-scale residential projects bring new residents, retail opportunities, and improved infrastructure. The addition of thousands of new households elevates demand for local services and amenities, which translates to increased foot traffic and economic activity.

Infrastructure Improvements: The waterfront esplanade and public spaces being created along the canal represent significant public investments that enhance the entire area's livability and aesthetic appeal. These amenities benefit all nearby properties, not just the new developments.

Transit Accessibility: The site sits within a short walk of the R train at Union Street station, and the influx of new residents often leads to improved transit service and infrastructure enhancements over time.

Market Momentum: When premier development sites command record-breaking prices and attract institutional capital, it validates the neighborhood's growth trajectory. This confidence ripples outward, supporting valuations throughout the surrounding blocks.

Historic Context Creates Opportunity

The transformation of Gowanus from industrial waterfront to residential neighborhood represents a generational shift in how Brooklyn communities evolve. Property owners who recognize these inflection points early can position themselves advantageously, whether they're considering selling, refinancing, or repositioning their assets.

The neighborhood's transition has been decades in the making, supported by city rezoning efforts and environmental remediation of the canal itself. What we're witnessing now is the materialization of that long-term vision, with projects like Nevins Landing setting the physical and economic framework for the area's future.

Timing Matters in Real Estate

In our 35 years of representing property owners across New York, we've observed that understanding neighborhood development cycles is essential for maximizing asset value. Major projects like Nevins Landing don't just indicate where a neighborhood has been—they signal where it's heading.

For property owners in Gowanus, adjacent Carroll Gardens, Park Slope, or Boerum Hill, the current wave of development presents a unique window. As these large projects near completion and new residents move in, the neighborhood character shifts, amenities expand, and comparable sales data begins reflecting the area's elevated status.

Questions Property Owners Should Consider

If you own property in or near Gowanus, this period of transformation raises important strategic questions:

How has your property's value been affected by the neighborhood's development momentum?

Are there opportunities to optimize your property's use given the changing demographics?

Would this be an opportune time to explore the market, given increased buyer interest in emerging neighborhoods?

How do recent comparable sales reflect the new reality in Gowanus?

At Accord Real Estate Group,

we've spent more than three decades helping property owners navigate exactly these types of neighborhood transitions. Our deep knowledge of Brooklyn's evolving landscape enables us to provide context that goes beyond simple market comparisons—we help you understand the forces shaping your property's value and the optimal timing for your real estate decisions.

Whether you're a longtime Gowanus property owner watching your neighborhood transform, or you hold assets in adjacent areas benefiting from spillover demand, we bring the analytical rigor and market expertise necessary to maximize your outcomes.

The developments rising along the Gowanus Canal today will define this neighborhood for decades to come. Understanding their implications for your property requires both historical perspective and forward-looking analysis—exactly the combination we've delivered for our clients throughout Brooklyn's ongoing evolution.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

If you own property in Cobble Hill, Carroll Gardens, or along the Court Street corridor, a major infrastructure shift is underway that could directly impact your investment. At Accord Real Estate Group, we're tracking developments that affect property values throughout Brooklyn, NY—and this situation demands attention.

What's Happening on Court Street?

The NYC Department of Transportation is redesigning Court Street between Schermerhorn Street and Hamilton Avenue. The changes include a protected bicycle path, reduction from two traffic lanes to one southbound, and various pedestrian improvements.

The business community has responded with significant concern. Local merchants have initiated legal action to pause implementation, pointing to issues with traffic flow, delivery access, and emergency vehicle navigation.

Why Property Owners Should Pay Attention

Tenant Stability Matters. Established businesses report noticeable revenue declines since implementation began. When major retailers question lease renewals due to operational challenges, commercial property owners face real consequences. Tenant health directly influences property income and value.

Access Changes Everything. The elimination of convenient parking and altered traffic patterns fundamentally change how customers reach businesses. For owners of retail or restaurant properties, tenant success depends on customer accessibility.

Safety and Emergency Services. Reports of emergency vehicles struggling to navigate the new configuration raise important questions about building access and response times—concerns every property owner should monitor.

The Brooklyn Real Estate Context

This situation extends beyond a single street. Throughout Brooklyn, NY—from the Heights to Carroll Gardens, Park Slope to Williamsburg—infrastructure decisions shape neighborhood character and investment potential. Understanding these dynamics is essential for strategic property ownership.

At Accord Real Estate Group, our work with property owners across Brooklyn and into Manhattan Valley and Washington Heights has shown us how quickly change can create both challenges and opportunities. Staying informed about factors driving property values is what experience, integrity, and results look like in practice.

What Happens Next

The DOT plans to complete the project soon, including final adjustments and signal timing. Meanwhile, legal proceedings continue as merchants seek transparency about community input and safety data. Local representatives are encouraging dialogue between all parties.

For property owners weighing their options along affected corridors, timing matters. Neighborhood transitions can significantly influence property appeal and value—understanding when to act is crucial.

Expert Guidance When You Need It

Whether your property sits on Court Street or anywhere from Brooklyn to Manhattan Valley and Washington Heights, navigating neighborhood change requires local expertise and market insight. We don't just list properties—we understand the communities where they thrive and the forces that shape their futures.

If you're considering selling or want to discuss how local developments might affect your investment strategy, let's talk. Call Jeff Grandis, Broker, at 917-804-3198 for a confidential conversation about your property goals.

At Accord Real Estate Group, we bring decades of combined experience representing property owners throughout New York City's most dynamic markets—delivering the experience, integrity, and results you deserve.

Questions about your property's value in today's market? Ready to explore your options? Contact Jeff Grandis at 917-804-3198 or jeff@accreg,com —your trusted partner in Brooklyn and Manhattan real estate.

Happy Thanksgiving from all of us at Accord Real Estate Group!
We're thankful for your trust and partnership. Sending you warm wishes this Thanksgiving!

Thanksgiving Day is a national holiday in the United States and Thanksgiving 2025 falls on Thursday, November 27. Thanksgiving has been celebrated nationally on and off since October 3, 1789 when George Washington issued his Thanksgiving proclamation. Originated as a harvest festival, and the centerpiece of Thanksgiving celebrations remains Thanksgiving dinner. Gathering together with the family and friends to enjoy a favorite dish and expressing gratitude for many things.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Realtors

Big news from Brooklyn: Time Out New York just crowned Red Hook as the coolest neighborhood in NYC for 2025. If you own property in or near this waterfront community, this recognition could signal an important inflection point for your asset's value.

After watching Brooklyn, NY transformation for three and a half decades, we at Accord Real Estate Group recognize what this kind of spotlight can mean for property owners. Red Hook has managed something rare—maintaining its authentic character while becoming a cultural destination.

Why Red Hook Is Capturing Attention

Time Out's editors ranked Red Hook 14th among the world's coolest neighborhoods, evaluating factors like culture, community, livability, and that hard-to-define "nowness." This marks Brooklyn's third consecutive year dominating this list, following Flatbush and Fort Greene.

The neighborhood's appeal comes from its unique mix: converted industrial warehouses now house galleries and distilleries, cobblestone streets showcase diverse dining options, and Pioneer Works anchors the cultural scene with its monthly programming. Despite recent challenges, including a warehouse fire that impacted local artists, the community's response demonstrated the kind of resilience that signals long-term neighborhood stability.

The Transportation Reality

Red Hook lacks subway access, relying instead on buses and the IKEA ferry. But three decades in Brooklyn real estate has taught us something valuable: neighborhoods that require a bit more effort often develop stronger identities and maintain character longer. That "accessibility gap" tends to close as surrounding areas densify—we've seen this story before in Dumbo, Williamsburg, and Greenpoint.

What This Means for Your Property

Vacant Land: Cultural anchors like Pioneer Works drive foot traffic, while waterfront proximity creates development opportunities for projects that fit the neighborhood's artistic identity.

Mixed-Use Buildings: Growing pedestrian traffic benefits ground-floor retail, while residential units capitalize on the area's cultural cachet and waterfront location.

Multi-Family Properties: The neighborhood attracts young professionals, artists, and families seeking authentic Brooklyn living—creating strong rental demand.

Single-Family Homes: Waterfront access, community spirit, and cultural vitality create value that transcends typical market cycles.

Understanding the Recognition Effect

International recognition typically triggers a predictable sequence: increased media attention leads to more visitors, heightened buyer interest, and upward pressure on property values. We've watched this pattern unfold across Brooklyn neighborhoods for decades.

This creates a window where buyer curiosity peaks and well-positioned properties generate premium interest. If you've considered selling your Brooklyn real estate, this moment warrants careful evaluation.

The Bigger Picture

Red Hook's recognition reflects Brooklyn's ongoing ability to reinvent itself while honoring its roots. As consultants who've represented property owners through multiple market cycles, we understand that timing matters. Today's "coolest neighborhoods" often become tomorrow's established markets with significantly appreciated values.

Whether you own vacant land, a mixed-use building, a multi-family property, or a single-family home in Red Hook or nearby neighborhoods, this spotlight creates opportunity worth exploring.

Let's Talk

At Accord Real Estate Group, we help property owners understand what their assets mean in the current market context. But we know that real estate is ultimately a people business. Brooklyn real estate isn't just about transactions—it's about understanding people, their plans, and their dreams. It's about neighborhoods, communities, timing, and the stories that make places valuable.

Red Hook's story is unfolding right now. If your property is part of it, let's discuss how to position you for this exciting chapter.

Contact Accord Real Estate Group to explore what Red Hook's recognition means for your property. With 37 years representing Brooklyn property owners across diverse asset types, we bring market knowledge and strategic marketing expertise to help you achieve your goals.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods realtors

Thank you to all the brave men and women for your service and sacrifice to defend our freedom and way of life! We pay honor, we thank you, we are grateful each and every day.

Veterans Day (originally known as Armistice Day) is a federal holiday in the United States observed annually on November 11, for honoring military veterans, that is, persons who have served in the United States Armed Forces.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Sunset Park continues to establish itself as one of Brooklyn, NY most forward-thinking neighborhoods. The recent debut of WindScape Brooklyn at Industry City demonstrates that this vibrant community is at the forefront of New York's sustainable future.

Where Education Meets Innovation

The new offshore wind energy learning center opened its doors at 34 35th Street, bringing an exciting educational resource to the neighborhood. With eight interactive exhibits, the facility offers visitors hands-on experiences that explain how offshore wind technology works and why it matters for our region's future.

What sets this project apart is its deep community roots. Local organizations like Sunset Park High School, Red Hook Initiative, and the Workforce Development Institute all contributed to shaping the center's vision and programming. This collaborative approach ensures the space truly serves the people who call this neighborhood home.

Designed for Community Access

The facility includes classroom space, collaborative work areas, and an impressive theater with a 29-foot screen. Most importantly, community groups can reserve these spaces at no cost—a genuine commitment to making the resource accessible to everyone.

The center will host school field trips, public programs, and internship opportunities, creating pathways for local residents to enter the growing renewable energy sector.

Economic Growth Through Sustainability

For property owners and investors tracking Sunset Park's trajectory, this development signals continued momentum. The center connects directly to the transformation of South Brooklyn Marine Terminal into a major offshore wind port—an initiative bringing significant economic activity to the waterfront.

These investments in green infrastructure create jobs while positioning the neighborhood as a key player in New York's evolving energy landscape. It's the kind of sustainable development that drives long-term value.

What This Means for Sunset Park

At Accord Real Estate Group, our 37 years in Brooklyn have taught us that neighborhoods thrive when they attract quality institutions and forward-thinking development. WindScape Brooklyn represents exactly that kind of anchor—drawing families, young professionals, and businesses who value innovation and sustainability.

Sunset Park has always combined diversity, resilience, and entrepreneurial energy. Its strategic waterfront location, enhanced by developments like Industry City and now WindScape Brooklyn, positions the area for continued growth. For property owners weighing their options, these indicators matter.

The collaboration between Empire Wind, city and state agencies, and local partners demonstrates what's achievable when stakeholders share a vision for the future. Sunset Park isn't just adapting to change—it's helping to define what's possible.

At Accord Real Estate Group, we bring 37 years of experience representing property owners throughout Brooklyn's most dynamic neighborhoods. We handle the marketing and sales process from start to finish. Visit us at accreg.com to learn about our clients' experiences and discover how we can help you maximize the value of your real estate assets.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods realtors

Greenpoint's Waterfront Welcomes Serén

Greenpoint continues to prove its strength as a high-demand residential market with the completion of Serén at 16 West Street. This 11-story building from developer Strekte brings 132 thoughtfully designed rental units to the neighborhood's evolving waterfront, another strong signal of sustained market momentum.

The 114-foot structure delivers an average unit size of 701 square feet, reflecting what today's renters actively seek—quality space in a desirable location. Thirty-five apartments are designated for households earning between 40% and 130% of the area median income, creating economic diversity that strengthens neighborhood stability. Ground-floor retail space will add to the street-level vitality that makes Greenpoint increasingly attractive.

The amenity package—fitness center, rooftop terrace, bike storage, EV charging stations, and business center —represents the current baseline for competitive new construction. The rapid construction timeline, with the entire structure rising in just over a year, speaks to robust developer confidence. The building's proximity to Bushwick Inlet Park and the Greenpoint ferry landing enhances its appeal for the professionals and families increasingly drawn to waterfront Brooklyn living.

Nevins Landing Takes Shape in Gowanus

The transformation of Gowanus accelerates as Nevins Landing progresses along the canal. This two-tower development at 310-340 Nevins Street will deliver 654 rental units across 600,000 square feet —one of the most significant residential projects in the neighborhood's ongoing evolution.

Both reinforced concrete superstructures have topped out, with the 22-story Nevins Landing North and the 17-story Nevins Landing South now in the façade installation phase.  Each building will activate the waterfront with 225 feet of ground-floor retail frontage along Union Street and the Gowanus Canal . The shared esplanade being designed by James Corner Field Operations will create public access to the waterfront—a significant amenity for the entire community.

The site set a record as the largest residential development deal in New York City when it sold for $102 million in 2021. That kind of capital commitment signals strong long-term belief in the neighborhood's trajectory. Both towers are targeting spring 2026 completion, meaning this major addition to Gowanus housing stock will arrive within the next year.

For property owners in Greenpoint, Gowanus, and surrounding areas, these projects represent the kind of professionally executed development that elevates entire districts. The combination of waterfront access, new retail, public amenities, and substantial residential density creates urban vitality that supports property values over time—exactly the kind of market intelligence that informs smart decisions about when and how to position your real estate assets for sale.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods realtors

The Community Advisory Committee voted 4-2 against "The Coney" casino plan, which would have stretched along Surf Avenue from West 12th to West 15th streets. It needed a two-thirds majority to advance to the state's Gaming Facility Location Board, but only representatives for Governor Hochul and Mayor Adams supported it.

Understanding the Local Sentiment

Brooklyn Borough President Antonio Reynoso acknowledged that while the development team put together a strong application, it simply didn't have enough community support. Councilmember Justin Brannan was more direct, stating that "there are things we need in Coney Island, but a casino isn't one of them."

The trust issue? Thor Equities, the company behind the proposal, has left development lots vacant for 15 years despite making various promises. For property owners in the area, that pattern hasn't inspired confidence. Brannan also noted that Coney Island is "a small, crowded residential area"—not the typical profile for casino locations like near Citi Field or Aqueduct Racetrack.

What This Means for Property Owners

With the casino off the table, the status quo continues. For sellers, you're marketing a property in a neighborhood that maintains its unique identity as "The People's Playground"—that old-school charm that draws families looking for an authentic Brooklyn experience.

The most encouraging aspect? The community engagement. Residents showed up and made their priorities clear. That level of involvement is an attractive selling point—buyers want engaged neighbors and a clear sense of identity. Coney Island just demonstrated it has both.

As the neighborhood continues to evolve without the casino development, property owners can expect the area to maintain its distinctive character while still benefiting from ongoing interest in Brooklyn's waterfront communities.

At Accord Real Estate Group, we understand that major development decisions affect your property's story. Whether you're curious about how local changes impact your home's value or you're ready to explore your selling options, we're here to help you navigate these conversations with insight and expertise.

With our 35+ years of experience helping property owners maximize their real estate investments through strategic timing and market expertise positions us to guide clients through Brooklyn's evolving landscape. Our personalized approach ensures clients achieve optimal returns while navigating market complexities with confidence.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or 917-804-3198 or email us at info@accreg.com.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

At Accord Real Estate Group, our motto is 'Experience - Integrity - Results' and we're committed to bringing you the very best in Brooklyn real estate services.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

Columbus Day is a federal holiday in the United States. It is officially celebrates the anniversary of Christopher Columbus's arrival in the Americas.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

As real estate professionals who specialize in marketing properties for owners looking to sell, we at Accord Real Estate Group understand that infrastructure developments like the IBX don't just improve commutes; they create wealth, transform neighborhoods, and open entirely new markets for savvy property owners.

What the IBX Means for Your Property

The 14-mile light rail system will connect historically underserved communities from Sunset Park in Brooklyn, NY to Jackson Heights in Queens, creating 19 stations that link to 17 different subway lines and 50 bus routes. For property owners, this translates to dramatically improved accessibility – and accessibility drives value.

Consider this: the IBX will serve nearly 900,000 residents and 260,000 workers along its corridor. These aren't just numbers; they represent potential buyers, renters, and businesses who will suddenly find previously inconvenient neighborhoods highly desirable. The projected 32-minute end-to-end travel time means residents can now consider living in areas like Borough Park, Sunset Park, and East Flatbush while maintaining easy access to job centers throughout the metropolitan area.

Strategic Timing for Property Owners

Here's something many property owners don't realize: the biggest appreciation gains typically occur not after infrastructure is completed, but during the planning and construction phases. Smart money moves early, and we're still in the early stages of this transformation.

The project's $5.5 billion budget and official advancement to the design phase sends a clear signal to the market that this isn't just another delayed transit promise. With $45 million already secured in New York State's 2025 budget and additional federal funding in place, the IBX has moved from "if" to "when."

Neighborhoods to Watch

While the entire corridor will benefit, certain areas stand to gain more than others. The MTA's decision to implement a tunnel solution beneath Metropolitan Avenue in Middle Village, for example, has already improved ridership projections and reduced travel times. This kind of refinement during the design phase typically indicates which areas will see the most dramatic transformation.

East Flatbush, historically considered a transit desert, will suddenly find itself connected to Manhattan via multiple transfer points. Sunset Park, already experiencing gentrification pressure, will see that acceleration intensify. Borough Park property owners should prepare for a fundamental shift in their neighborhood's profile as it becomes more accessible to a broader demographic.

The Marketing Advantage

For property owners considering a sale in the coming years, the IBX represents a powerful marketing tool. Buyers increasingly prioritize transit access, especially younger demographics who view car ownership as optional rather than essential. Properties within walking distance of proposed IBX stations will command premium pricing, but even those within a reasonable distance can leverage improved neighborhood connectivity.

The key is timing and positioning. Properties hitting the market during the construction phase can capitalize on both current value and future potential. Buyers understand they're purchasing not just a home, but access to a transformed transportation network.

Learning from Light Rail Success Stories

Other cities provide valuable insights into light rail's real estate impact. The Hudson-Bergen Light Rail Line in New Jersey, operational since 2000, transformed property values throughout Hudson County. Boston and Philadelphia have maintained and expanded their light rail networks precisely because of their positive economic impact on surrounding neighborhoods.

The IBX's projected annual ridership of 48 million – higher than any other light rail system in the country – suggests an impact that could exceed these precedents.

What Property Owners Should Do Now

If you own property along the IBX corridor, now is the time for strategic thinking. Consider whether your current property use maximizes its potential in this new transportation paradigm. Residential properties near stations may benefit from conversion to higher-density uses. Commercial properties should evaluate their appeal to businesses seeking transit-accessible locations.

For those considering selling, the window between now and construction completion represents optimal timing. Buyers can envision the transformation while current pricing reflects pre-IBX conditions.

The Broader Economic Impact

Transportation infrastructure doesn't just move people; it moves capital, creates jobs, and attracts investment. The IBX will generate construction employment, permanent transit jobs, and countless indirect economic opportunities. These factors create sustained demand for housing and commercial space throughout the corridor.

Property owners who understand this broader economic impact can make informed decisions about holding, selling, or repositioning their assets. The neighborhoods along the IBX aren't just getting better transit; they're getting economic engines that will drive growth for decades.

Moving Forward

The Interborough Express represents the kind of transformational infrastructure project that defines neighborhoods for generations. Property owners along the corridor have a unique opportunity to benefit from this transformation, but success requires strategic thinking and professional guidance.

At Accord Real Estate Group, we specialize in helping property owners navigate these market-changing opportunities. Our deep understanding of Brooklyn and Queens markets, combined with our focus on the marketing side of real estate transactions, positions us to help you maximize your property's value in this evolving landscape.

Whether you're considering selling now to capitalize on early market momentum or planning for future opportunities, we're here to help you understand your options and execute your strategy effectively.

The IBX isn't just changing how people travel between Brooklyn and Queens – it's changing the fundamental value proposition of entire neighborhoods. Smart property owners will position themselves to benefit from this transformation.

Ready to explore how the IBX might impact your property value? Contact Accord Real Estate Group today. Call our office at 718-375-2065 or reach Jeff Grandis directly at 917-804-3198 to discuss your property's potential in this changing market.

At Accord Real Estate Group, our motto is 'Experience - Integrity - Results' and we're committed to bringing you the very best in Brooklyn real estate services.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

Accord Real Estate Group Team
Your Brooklyn Real  Estate Brokers and Agents

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or 917-804-3198 or email us at info@accreg.com.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

At Accord Real Estate Group, our motto is 'Experience - Integrity - Results' and we're committed to bringing you the very best in Brooklyn real estate services.

The Brooklyn, NY real estate landscape is experiencing another significant shift, and this time it's happening right in Clinton Hill. The recent City Council approval of RXR Realty's ambitious redevelopment project at 47 Hall Street represents more than just another construction story-it's a clear indicator of how neighborhoods evolve and create new opportunities for property owners throughout the area.

This massive undertaking will transform a 2.6-acre site that previously housed emergency shelter facilities into a dynamic mixed-use complex featuring approximately 611 residential units, retail spaces, and commercial areas. The development team's plan involves demolishing two existing structures while carefully refurbishing seven historic Linotype factory buildings, creating a fascinating blend of preservation and modern development that Clinton Hill residents and investors should pay close attention to.

What makes this project particularly noteworthy isn't just its scale--933,000 square feet of mixed-use space-but the strategic approach to community integration. The City Council's requirement that developers utilize the Mandatory Inclusionary Housing program ensures that this development contributes to neighborhood affordability while still delivering substantial market-rate opportunities. This balance often signals a maturing neighborhood where property values tend to stabilize and grow over time.

For existing property owners in Clinton Hill and surrounding areas, this development represents several important market indicators. Large-scale projects like this typically arrive when developers recognize strong underlying fundamentals in a neighborhood-proximity to transportation, existing infrastructure, and demographic trends that support long-term growth. The location's adjacency to the Brooklyn Navy Yard, combined with its accessibility to Manhattan, positions this area as increasingly attractive to both renters and buyers.

The timeline for completion extends to 2030, which gives current property owners a valuable planning horizon. Markets often experience anticipatory effects as major developments progress through planning and construction phases. Property owners who understand these cycles can make informed decisions about renovation timing, rental strategies, or potential sale opportunities.

From our perspective as real estate marketing specialists, we're observing increased investor interest in Clinton Hill properties as news of this development spreads. The combination of historic character buildings, new residential inventory, and enhanced retail amenities typically creates a neighborhood environment that appeals to a broader demographic range-young professionals, families, and long- term residents who appreciate both convenience and character.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or 917-804-3198 or email us at info@accreg.com.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

At Accord Real Estate Group, our motto is 'Experience - Integrity - Results' and we're committed to bringing you the very best in Brooklyn real estate services.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

The Gowanus neighborhood in Brooklyn, NY continues to evolve with compelling new developments, and the recent completion of Longview at 380 4th Avenue exemplifies why this area attracts both residents and discerning property investors. This new 17-story building represents another significant milestone in Gowanus's strategic transformation.

Standing 175 feet tall, this development by Quinlan Development Group delivers 197 rental apartments averaging 830 square feet each, complemented by retail space at street level. The building's design by GF55 Architects combines contemporary materials with thoughtful proportions that enhance the neighborhood's evolving architectural character. Positioned strategically between the established charm of Park Slope and Gowanus's emerging identity, residents benefit from access to both communities while enjoying views of Park Slope's tree-lined streets as part of Gowanus's dynamic growth story.

Longview demonstrates meaningful commitment to housing accessibility through its affordable housing component, with lottery applications currently open for qualifying applicants starting at $874 monthly. This approach reflects broader market trends throughout Brooklyn's developing neighborhoods, where responsible development balances growth with community needs. The project represents substantial investor confidence in the area, with Quinlan Development Group's $24 million acquisition in 2022 and subsequent construction completion demonstrating the institutional backing that signals neighborhood strength and long-term viability.

Developments of this caliber create beneficial ripple effects for existing property owners. The addition of quality housing stock, ground-floor retail opportunities, and improved neighborhood amenities typically supports property value appreciation in surrounding blocks. For property owners in Gowanus and adjacent areas, these infrastructure improvements and population growth often translate into increased demand and stronger market positioning when considering future sales opportunities.

At Accord Real Estate Group, our 35+ years of experience helping property owners maximize their real estate investments through strategic timing and market expertise positions us to guide clients through Brooklyn's evolving landscape. Our personalized approach ensures clients achieve optimal returns while navigating market complexities with confidence.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or 917-804-3198 or email us at info@accreg.com.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

At Accord Real Estate Group, our motto is 'Experience - Integrity - Results' and we're committed to bringing you the very best in Brooklyn real estate services.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

Celebrating Labor Day in honor and recognition of the American labor movement and the works and contributions of laborers to the development, achievements and contributions of laborers of the United States.

Labor Day became a national holiday since 1894.

Now kick back, relax, and enjoy your day off. You’ve earned it.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

A Crown Heights block on Eastern Parkway has won Brooklyn's 29th annual Greenest Block competition, marking the first time a predominantly apartment building block has claimed this recognition. The achievement highlights emerging opportunities for property owners in this evolving neighborhood.

Community-driven improvements like this garden project often signal rising property values and increased buyer interest. The winning block houses over 750 residents, demonstrating both the area's density and rental income potential. Residents invested seven years transforming simple tree beds into a comprehensive urban garden system, indicating long-term neighborhood stability.

Market Appeal and Investment Indicators

Today's buyers increasingly seek neighborhoods prioritizing sustainability and community engagement. This block offers native plant installations, self-sustaining watering systems, pollinator habitats, and food production areas. Community infrastructure includes shared seating areas and communal spaces that foster neighbor interactions.

Several factors make Crown Heights attractive for property sellers: Early 20th century brick apartment buildings appeal to Brooklyn buyers, Eastern Parkway provides excellent connectivity throughout Brooklyn and Manhattan, high-density rental properties demonstrate consistent tenant demand, and active residents typically maintain properties better and stay longer.

The competition attracted 101 applicants this year, with 27 first-time entrants, showing growing Brooklyn-wide interest in community improvement. Areas with demonstrated resident investment often see increased foot traffic, enhanced safety, rising property values, and greater buyer competition.

Timing and Professional Guidance

Recognition like winning Brooklyn's Greenest Block creates positive media attention that property owners can leverage. Properties in environmentally-conscious communities with strong resident investment often command premium prices.

If you're considering selling Crown Heights property, this community recognition represents an opportunity to capitalize on positive neighborhood momentum. Understanding local market dynamics and buyer preferences in environmentally-conscious communities requires specialized Brooklyn real estate expertise.

Our experienced team helps property owners navigate Brooklyn's dynamic real estate market and maximize returns on investment properties.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or 917-804-3198 or email us at info@accreg.com.

At Accord Real Estate Group, our motto is 'Experience - Integrity - Results' and we're committed to bringing you the very best in Brooklyn real estate services.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

Another exciting chapter is unfolding in Brooklyn's ongoing waterfront transformation story! This week marked a significant milestone for Sunset Park residents and Brooklyn real estate enthusiasts as ground was officially broken for the ambitious redevelopment of Pier 6 at the MADE Bush Terminal campus.

For years, this five-acre waterfront site has sat dormant - a remnant of Brooklyn's industrial past waiting for its next chapter. Now, thanks to a substantial $25 million investment, this historic pier will be completely reimagined as a vibrant public recreational space that celebrates both its industrial heritage and Brooklyn's future.

The transformation represents much more than just another development project. The New York City Economic Development Corporation is spearheading this initiative as part of their broader vision to revitalize the entire 36-acre Bush Terminal complex. What makes this project particularly exciting is how it balances honoring the site's rich maritime and industrial history while creating something entirely new for today's Brooklyn families and workers.

Jeff Grandis, broker at Accord Real Estate Group, observes that "Sunset Park continues to evolve as one of Brooklyn's most dynamic neighborhoods. Projects like the Pier 6 redevelopment show how thoughtful planning can transform underutilized waterfront property into community assets that benefit everyone."

The renovation will focus on three key priorities: making the pier structurally sound for safe public use, incorporating sustainable design elements that can withstand future environmental challenges, and creating recreational opportunities that serve both neighborhood residents and the growing number of workers at the Bush Terminal campus.

This project fits perfectly into the larger MADE (Manufacturers, Artisans, Designers, Entrepreneurs) Bush Terminal vision we've been following over recent years. The 36-acre campus has been steadily transforming from abandoned industrial buildings into a thriving hub for modern manufacturing and creative industries.

What's particularly noteworthy about this Pier 6 project is its potential impact on waterfront access throughout Brooklyn. As our borough continues to reclaim its historic relationship with the water, projects like this demonstrate how former industrial sites can be successfully converted into public amenities without erasing their historical significance.

The timing couldn't be better for Sunset Park real estate. The neighborhood has been experiencing steady growth and interest from both residents and businesses looking for authentic Brooklyn character combined with excellent transportation access and reasonable pricing compared to some of Brooklyn's pricier areas.

We'll continue monitoring this project's progress and its impact on the surrounding Sunset Park real estate market. Waterfront access and green space consistently add value to nearby residential properties, making this an exciting development for current and prospective property owners in the area.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or 917-804-3198 or email us at info@accreg.com. We are here for you to help you in any way we can.

At Accord Real Estate Group, our motto is 'Experience - Integrity - Results' and we're committed to bringing you the very best in Brooklyn real estate services.

Sincerely yours,

Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

Brooklyn, NY Bushwick neighborhood continues to evolve with exciting new residential projects, and one of the most significant developments currently underway is making impressive progress. Construction is advancing rapidly on 1601 DeKalb Avenue, a substantial nine-story, two-building residential complex that represents a major investment in affordable housing for the community.

Designed by Aufgang Architects and developed by Camber Property Group in partnership with RiseBoro Community Partnership, this $75 million project is set to yield 127 affordable housing units when completed. The development offers a thoughtful mix of studio to three-bedroom layouts, addressing the diverse housing needs of Bushwick residents and young families.

Project Progress and Design

The reinforced concrete superstructures have been completed, and the project is now in its exterior finishing phase. The bulkier volume is nearly fully enclosed in its distinctive gray brick façade on both the eastern and western faces, with the complete grid of windows installed across the entire development. Only the ground floor and the taller northern sections remain to be enclosed, with completion awaiting the dismantling of two construction hoists.

The development's stepped massing design creates an attractive streetscape along DeKalb Avenue, with the eastern elevation's ground-floor frontage extending farther south than its western counterpart. The main entrance will be positioned beneath a welcoming canopy at the center of the eastern building.

Community Impact and Rezoning Success

This project holds special significance as the first development to take shape under a recent rezoning initiative. The collaborative effort involved local elected officials, Brooklyn Community Board Four, and various community stakeholders, demonstrating the power of community-driven development planning.

Of the 127 affordable units, 45 homes will be specifically reserved for stable housing, and the property will provide crucial supportive services for young families. The unit breakdown includes:

33 studio apartments

52 one-bedroom units

24 two-bedroom units

18 three-bedroom units

Green Building Features and Amenities

In keeping with modern sustainable development practices, all apartments will meet the Enterprise Green Communities Criteria and feature all-electric heating and cooling systems. This environmentally conscious approach aligns with Brooklyn's commitment to reducing carbon emissions while providing residents with energy-efficient living spaces.

Residents will enjoy a comprehensive amenity package including:

24/7 security services

Convenient bike storage facilities

Community rooms for gatherings and events

An open landscaped courtyard between the two structures

Location and Transportation

Strategically located between Wyckoff and Irving Avenues with frontage on both DeKalb Avenue and Hart Street, the development offers residents easy access to Bushwick's growing array of restaurants, shops, and cultural venues. The nearest subway access is the L train at the DeKalb Avenue station, providing direct connections to Manhattan and other Brooklyn neighborhoods.

Looking Ahead

With an anticipated completion date of January 2026, 1601 DeKalb Avenue represents the kind of thoughtful, community-focused development that continues to shape Bushwick's transformation. This project demonstrates how affordable housing can be both architecturally attractive and responsive to neighborhood needs.

Brooklyn real estate brokers and agents have witnessed Bushwick's remarkable evolution over the past decade, and projects like 1601 DeKalb Avenue showcase the neighborhood's commitment to inclusive growth that serves existing residents while attracting new families to the area.

At Accord Real Estate Group, we've been following Brooklyn's development trends for over three decades. Whether you're interested in Bushwick's emerging opportunities or exploring properties in other dynamic Brooklyn neighborhoods, our experienced team can help guide you through today's market.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com. We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods realtors

Brooklyn’s Atlantic Avenue has a fresh new look, thanks to a community-driven art project that’s transformed the underpass beneath the Brooklyn-Queens Expressway into a vibrant gateway to Brooklyn Bridge Park. Spearheaded by the Atlantic Avenue Business Improvement District (BID), the initiative has turned a once-overlooked space into a celebration of local history, resilience, and creativity.

Funded by a $60,000 Public Realm Grant from NYC’s Department of Small Business Services, the BID partnered with Thrive Collective and NYC DOT Art to ensure the murals reflected genuine community input. Through conversations with residents, several key themes emerged: reconnecting neighborhoods with the waterfront, honoring the area’s complex development history, and celebrating the diverse communities that call Atlantic Avenue home.

The BQE’s construction in the 1940s dramatically reshaped Brooklyn, cutting off Atlantic Avenue from the waterfront and displacing thousands. Rather than ignoring this history, the murals embrace it — using art to spark dialogue about renewal and community strength.

Seven artists were selected to bring this vision to life. On the south wall, six murals explore maritime heritage, local businesses, and recreational life, including “Dockyards” by Will Power, “Industrious” by Vince Ballentine, and “Biodiverse” by Peach Tao. On the north wall, “The Avenue” by Marissa Molina highlights community voices in urban planning and celebrates the preservation of Atlantic Avenue’s historic districts.

Local leaders and organizations have praised the project. Kelly Carroll, Executive Director of the Atlantic Avenue BID, called it “a venerable gateway to Brooklyn’s Atlantic Avenue,” noting its role in boosting foot traffic and improving safety. Borough President Antonio Reynoso emphasized the importance of honoring communities affected by the BQE’s construction, while Lara Birnback of the Brooklyn Heights Association applauded the murals for acknowledging past losses and celebrating Brooklyn’s enduring vibrancy.

Beyond its artistic value, the project is a win for the neighborhood. Public art and improved lighting enhance the corridor’s appeal, support local businesses, and contribute to rising property values. It’s a clear example of how thoughtful community investment can create lasting impact.

The ribbon-cutting ceremony in July marked the completion of a project rooted in collaboration, history, and hope. As Brooklyn continues to grow, the Atlantic Avenue murals show how creativity and community can come together to shape a brighter future.

At Accord Real Estate Group, we’re proud to support initiatives that strengthen neighborhoods and enhance property values. If you’re curious about Brooklyn real estate or want to explore how local developments might affect your property, give us a call at 718-375-2065 — we’d love to connect.

Should you have any questions or needs regarding any Real Estate matter please call us or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods realtors

Located at 159 Boerun Street, between Humboldt Street and Graham Avenue, The Welz, a 19 story residential building is complete. This 162 unit rental building will have studio, one and two bedroom layouts with 49 units reserved for affordable housing. Designed by Aufgang Architects and developed by Slate Property Group with Avenue Realty and SD Builders and Construction LLC.

The Welz name pays homage to the former Welz, Zerweck High Ground Brewery in Bushwick,  Brooklyn, NY.

The Welz is a pet friendly building. The apartments have stainless steel energy efficient appliances, quartz countertops and matte black fixtures. Some select apartments will have a terrace. Amenities include a communal roof deck with outdoor grilling stations and 360 degree views of the New York City skyline, a fitness center, common area Wi Fi, bike storage, onsite parking and an on site resident manager.

The closest subway is the L train at the Montrose Avenue station.

Located at 427 Marcy Avenue, at the corner of Marcy Avenue and Walton Street, a 7 story, 79,000 square foot residential building is almost complete. There are 25 units in this building designed by Diego Aguilera Architects and developed by Abraham Brac and Ezra Unger.

The closest subway is the G train at the Flushing Avenue station, south of the building.

Located at 310 North 7th Street, an 8 story, 85 foot tall residential building will have 13,784 square feet and will yield 20 rental units, with an average size of 672 square feet. The building was designed by Diego Aguilera Architects P.C. For Yisroel Greenfield.

There will also be 340 square feet of commercial space and 10 enclosed parking spaces. The building is west of the Brooklyn, Queens Expressway, bound by North 6th Street and North 7th Street. The lot was purchased for $9.5M.

The closest subways to the building are the G train at Metropolitan Avenue Station and the L train at the Lorimer Street Station. More details to follow.

Permits have been filed for a 4 story, mixed use, macaroni factory, located at 171 Montrose Avenue, between Graham Avenue and Humboldt Street. The building will be converted into a 69 foot tall, 7,500 square foot tall building. There are plans for 9 units, with an average size of 833 square feet. There will be a cellar, a penthouse and a 35 foot long rear yard. Plans are for retail on the first floor and a community facility in the cellar.

Marcin Stefaniak is the owner and Younes Abouyaala of AA Building  & Inspection Services is the engineer of record.

No other details are available at this time.

Go Williamsburg!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods brokers and agents

A four building residential complex is coming to the corner of Bergen Strewet and third Avenue at 280 Bergen Street in Boerum Hill. Demolition is complete at the site. The project is designed by Fischer Rasmussen Whitfield Architects and will be developed by Goose Property Management. The 302,000 square feet project will yield 367 rental units with layouts for studio, one and two bedroom apartments. There will also be 9,700 square feet of retail space on the ground floor. The project will be comprised of three 11 story buildings and one 12 story building. Amenities will include a   fitness center, theater, game room, lounge, yoga studio, children's playroom and forty enclosed parking spaces.

The closest subway from the site is 2, 3, 4, 5, B, D, N, Q and R trains at the Atlantic Avenue Barclays Center station which also has access to the Long Island Railroad.

No timeline for the completion has been given.

At 40 State Street, between Hicks Street and Columbia Place in Brooklyn Heights, permits have been filed for a five story residential building. The proposed 49 feet high building will have 24,417 square feet of residential space and consist of five residences with an average unit size of 4,883 square feet. There will be a cellar with 10 enclosed parking spaces. Brendan Coburn of The Brooklyn Studio is listed as the architect of record. No completion date has been given.

In Cobble Hill, construction of a six story residential building has topped out at 110 Boerum Place, along Boerum Place between Pacific and Dean Streets. Designed by Brent Buck Architects, developed and built by Avdoo collaborating with Aksoy Holding. The building will be approximately 65,000 square feet and will yield twenty one condominium units. The developers purchased 96 & 110 Boerum Place form Hidrock Properties for $30.5M in 2017. Units in the building will be two to five bedroom layouts, each unit will have private outdoor space. Amenities will include on site parking, a lobby, storage and bike storage.

The closest subways are the F & G trains at the Bergen Street Station, the 2,3 4, 5trains at the Borough Hall Station, the A, C and G trains at Jay Street-Metro Tech Station, the 2, 3 trains at Hoyt Street Station and the A, C, F and R trains at Hoyt & Schermerhorn Streets Station.

Completion of 110 Boerum Place is expected in Spring 2027.

The Brook, located at 567 Fulton Street in Downtown Brooklyn is nearing completion. The 601 foot tall, 557,973 square feet skyscraper was designed by Beyer Blinder Belle and developed by Witkoff Group and Apollo Global Management. There will be 591 rental units with an average size of 827 square feet. There will be 68,693 square feet of retail space, a cellar level and two floors of recreational and sports amenities. Thirty three percent of the units will be reserved for affordable housing. Suffolk is the general contractor on this project. The building is bounded by DeKalb Avenue to the north, Fulton Street to the south, Flatbush Avenue Extension diagonally to the east and Bond Street to the west.

A private outdoor terrace will sit on the uppermost levels facing west towards the New York Harbor. There will be an outdoor swimming pool, basketball court, a co-working lounge, a game room and an outdoor roof deck.

The development will also include a separate building located at 555 Fulton Street, on the opposite end of the block. Co-developed by Downtown Brooklyn Partnership, the building will feature 14,361 square feet of retail space across it's ground floor and cellar level. Bjarke Ingels Group will design the surrounding streetscape.

The closest subways are the B, Q, & R trains at the DeKalb Avenue station and the 2, 3, 4 and 5 trains at the Nevins Street station.

Completion date is scheduled for September 2025.

Go Brooklyn!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods brokers and agents

Independence Day is a federal holiday in the United States commemorating the Declaration of Independence of the United States, on July 4, 1776. 

“Liberty and independence forever.” - Davy Crockett

Have a great and safe 4th of July!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Broker

• “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator, with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” - The Declaration of Independence, 1776

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The (HPD) Department of Housing Preservation and Development has its sights set on rezoning 395 Flatbush Avenue Extension to allow for a new skyscraper. The proposed tower will be the second tallest in Brooklyn after the Brooklyn Tower, located in Downtown Brooklyn at 85 Fleet Street, between Fleet Street and Flatbush Avenue and Flatbush Avenue Extension.

The proposed building would be 840 feet tall and include approximately 1,230,000 gross square feet of residential space, 210,000 square feet of office, retail and community space.

The current plan has 1,263 apartments and between 353 and 379 units designated for affordable housing for those earning at or below 80% of the area median income. TenBerke Architects have put forth a conceptual proposal for pedestrian space at 395 Flatbush, Brooklyn NY. The project includes a new public open plaza along Fulton Street, wider sidewalks, an enhanced pedestrian experience along Flatbush and DeKalb Avenues, with more trees, landscape and seating. In addition, the entrance to the Dekalb subway station will be improved.

Rabina and Park Tower Group control the existing site through a long term ground lease with the city.

According to Joseph Rabina, President and CEO of Rabina “Replacing the dark and outdated office building at the corner of Fulton Street and Flatbush Avenue with a light and airy mixed use development that includes more than 1,200 mixed income apartments will breathe new life into one of the most important intersections in Downtown Brooklyn.”

The developers will apply for the 485X property tax incentive, which would help, because of the projects size and location would require the developer to pay higher wages to construction workers under the program's rules.

This project would be amongst the first to take advantage of the recently lifted cap on residential density under Mayor Eric Adams City of Yes plan. New district designations now allow rezonings with higher FARs. The proposed tower would have an FAR of 21.8.

According to Mayor Adams “The new 395 Flatbush Avenue will be a major addition to the skyline, towering high as the second tallest building in Brooklyn.” “We're setting a new standard of urban design and development in the heart of New York's most prosperous and populous borough. This is exactly the type of public – private partnership we want with the development community to build more housing.”

Go City of Yes!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods brokers and agents

The area is now bursting with new residential/mixed use projects. Here are a few of those projects:

A two tower, mixed use project is planned for 175 Third Street, developed by Charney Companies and Tavros Capital. The buildings will bring 1,000 rental units in studio, one, two and three bedroom layouts. This project, the largest in the neighborhood, at approximately one million square feet will also have ground floor retail space. Twenty five percent of the units are designated for affordable housing. Some units will have balconies and both buildings will have roof decks. A 37,000 square foot landscaped waterfront esplanade will sit to the west of the building along the canal. The esplanade was designed by James Corner Field Operations, with an emphasis on recreation spaces, shaded seating and a resilient meadow aimed at boosting biodiversity.

175 Third Street will be the final of four projects in Charney Companies and Tavros Capital's Gowanus Wharf Master Plan, with Union Channel at 240 Third Avenue, Douglass Port at 251 Douglass Street and Nevins Landing at 310 – 340 Nevins Street. These projects span more than Two Million square feet and yield 2,200 units, making the developers the largest owners in the neighborhood.

The closest subway is the R train at Union Street Station and the G, F, and R trains at the 4th Avenue-9th Street Station.

Construction on 173 Third Street is planned to break ground mid 2026.

Located at 579 Sackett Street, plans have been filed to build Sixty apartments and ground floor retail. The building is planned for eleven stories high and 47,000 square feet in size with apartments on floors two to eleven. Amenities will include storage for 32 bikes, a fitness room and recreation areas on the 1st floor and rooftop.

Society Brooklyn is located at 500 Degraw Street and 504 Sackett Street. The two 21 story mixed use rental buildings are completed along with a new waterfront esplanade which recently opened. Designed by SLCE Architects and developed by Property Markets Group, the buildings will span 594,000 square feet and will yield 517 residential units, 57,000 square feet of commercial space and 21,000 square feet dedicated to the “Gowanus Mix”, a space for local makers, artisans and creatives. Twenty five percent of the apartments are reserved for affordable housing. Property boundaries are DeGraw Street to the north. Sackett Street to the south, Gowanus Canal to the east and Bond Street to the west.

Residential amenities at Society Brooklyn include a lobby restaurant and bar, fitness centers, lounges, a party room, co working hubs, children's playrooms, an herb and gardens deck, outdoor swimming pools and sun decks atop the multi story podium.

The closest subway station is the local R train at the Union Street Station to the east along 4th Avenue.

Other notable residential/ mixed use projects in Gowanus are 558 Sackett Street located between Nevins Street and Third Avenue and 499 President Street, a 1.6 acre property bounded by Union Street to the north, President Street to the south and Nevins Street to the west.

Paulie Gee's Pizzaria will be located at 499 President Street retail space.

The closest subway is the R train at the Union Street Station to the east along 4th Avenue.

Go Gowanus!!!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods brokers and agents

Of course, the concept of happiness is subjective. However, the Institute for Quality of Life ranks cities that are “Committed to cultivating and growing happiness.”

Each destination is analyzed using 82 indicators such as housing affordability and renewable energy resources. The final ranking was also determined by conducting interviews with residents.

New York City scored high in the categories of economic performance, education and mobility.

New York City is an astounding 2.6 percent of the U.S. Population and s the nation's driving force in the nation's economy.

The report also described NYC as an “intellectual and technological powerhouse and New Yorkers are viewed as placing a high value on education and our digital skills “widespread.”

The report also focused on NYC's transportation system saying it performed well. “New York's transport infrastructure is vast and complex, supporting millions of daily commuters.” “With a green mobility share of 40%, the city continues to expand it's sustainable transit options. The report observes, an intelligent traffic management system optimizes movement, while digital payment options streamline public transport access.”

The second highest ranking U.S. City on the Happy City Index was Minneapolis, Minnesota.

Go New York City!!!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods brokers and agents

Memorial Day is an American federal holiday, observed on the last Monday of May, honoring the service members who gave their all while serving in the U.S. Armed Forces.

Many Americans observe Memorial Day by visiting cemeteries and memorials, attending family gatherings or participating in parades.

Memorial Day is more than a long weekend—it’s a day to pause, reflect, and remember the ultimate sacrifices made by our nation’s heroes. From soldiers who fell in battle to Veterans who carried their service with pride until their final days, their legacies live on in the freedoms we enjoy today.

Enjoy your weekend, and remember what this holiday is about.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The site for the first of two buildings is a city owned parking lot located on Third Avenue, between Bergen and Wyckoff Streets. The building. to be called Third Act Apartments will have 68 units of affordable senior housing, and community space and a rooftop garden and farm.

After a lengthy community review process, the city selected Cornerstone Construction Group, St. Nicks Alliance, and Stanton Development Partners as the development team. The projects architectural design process will be led by David Cunningham Architecture Planning PLLC.

“This project will provide 100% deeply affordable, permanently rent-stabilized senior housing” according to Council member Shahana Hanif. “This project is the kind of bold, community-driven solution we need to tackle our city's affordability crisis, address low vacancy rates and support the needs of our growing senior population.” “I'm proud that my council district ranks among the Top 10 in housing production city-wide.”

Lead developer, Cornerstone Group has built more than 4,000 units of affordable housing over the past 8 years. Their projects have received numerous awards, such as the ULI NY Award for Excellence in Affordable Housing Development, the PHIUS Passive Projects Design Award and the A1A New York State Excelsior Award. This award shines a spotlight on excellence in publicly funded buildings. Recognizing outstanding projects in Historic Preservation, Landscape, Architecture and New Construction to name a few categories. This award underscores the importance of design integrity, functionality and community impact. Over the past 10 years, more than 100 projects state-wide have received this esteemed recognition.

According to Michael Rooney Jr, CEO of Cornerstone Construction Group “Seniors are an invaluable community resource, and Third Act Apartments will exemplify the wisdom, energy and time that they invest into uplifting future generations,” “ We look forward to our continued collaboration with HPD, St. Nicks Alliance and Stanton Street Development Partners, creating an affordable, sustainable and  interconnected housing community where seniors have access to vital social services that they need to thrive socially and physically.”

Third Act is one of two Boerum Hill parking lots earmarked for affordable housing development, the other being 153 Nevins Street.

Thanks to the efforts of Council member Lincoln Restler, ownership of both lots was transferred to HPD!

Yay for Senior Housing!

To be continued...

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Mother's Day is a celebration honoring the mother of the family, as well as motherhood, maternal bonds, and the influence of mothers in society. It is celebrated on various days in many parts of the world, most commonly in the months of March or May. In US Mother's Day is a holiday celebrated annually on the second Sunday of May.

It is important to celebrate all the moms for all the love and work they put in raising the kids, for all their sacrifices and patience, for their kindness and generosity and show them your appreciation!

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Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Kue Jor Ng of Sunrise Hospitality Ventures is the owner of the property.

Twelve hotel rooms are planned for each level from floors two through seven.

The site was formerly occupied by a one story auto supply shop.

The parking is located to the east of the building.

The La Quinta sign is on the building; however, it is unclear whether the hotel will still operate under the brand.

The closest subway to the hotel are the D,N and R trains at the 36th Street station to the south.

142 33rd Street had an original completion date of February 2020. The hotel could potentially open later this year, if progress continues uninterrupted.

Go Sunset Park!

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A combination of Dutch, British and the last Ice Age, helped to create the name Brooklyn Heights.

After the Ice Age, melting ice was trapped by the hills for thousands of years. When the water broke through, a swath was cut, creating the Narrows, Upper New York Bay, the East River, the Harlem River and Long Island Sound.

The Indigenous people who lived in the area called it Ihpetonga, “high sandy bluff.” We know it as the heights.

The Dutch came to settle in the New World, but some preferred the narrowest part of the East River, rather than hilly Manhattan, it was flatter, the land was more fertile for farming and the waters for fishing and transporting their produce.

At first known as Clover Hill for the thick trees found there, but soon the name Bruijkleen Colonie was given to this section of land, amongst the first settlers. This village or colonie came to be known as Breuckelen from 1646, and then became Brookland, close to the Dutch pronunciation Brooklane.

It was not until the end of the 19th century, the name settled into present day Brooklyn.

Hezekiah Beers Pierpont and Robert Fulton established a steam powered Ferry company in 1814, and the greater accessibility to Brooklyn Heights, called “America's first commuter suburb.”

The Brooklyn Bridge opened in 1883 and brought more people to Brooklyn.

In 1950 the southern half of the Brooklyn Heights promenade opened and the northern half opened in 1951.

In 1965 the Landmark Preservation law of 1965 made Brooklyn Heights the first neighborhood designated as a historical district and legally protected from development.

This district is bounded by Cadman Plaza West and Old Fulton Street on the north, the Brooklyn, Queens Expressway on the west and Atlantic Avenue on the south.

Brooklyn Heights itself spans from Old Fulton Street near the Brooklyn Bridge south to Atlantic Avenue and from the BQE to Court Street and Cadman Plaza West.

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Happy Holidays to everybody! May you be blessed with happiness, prosperity,  good health and peace on the Holidays and always.

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Your Brooklyn neighborhoods Realtors

Happy Holidays to everybody! May you be blessed with happiness, prosperity,  good health and peace on the Holidays and always.

The awards given to the Brooklyn Bridge and the Soldiers and Sailor's Memorial Arch at Grand Army Plaza top the list of five Brooklyn restoration projects that have won The New York Landmarks Conservancy's 2025 Lucy G. Moses Preservation Awards. The other three recipients are: 7 South Portland Avenue, a 19th Century brownstone mansion in Fort Greene that is now a Co op; 1450 Pacific Street, a 19th century Villa in Crown Heights and the 1939 “Exodus and Dance” frieze, featuring both Biblical and African imagery at NYCHA's Kingsborough Houses.

The awards will be given to these projects on April 22nd at the Edison Ballroom in Manhattan.

Peg Breen, President of The New York Landmarks Conservancy said “The Lucy's celebrate amazing preservation projects from throughout the city that might otherwise remain unheralded.”

The Brooklyn Bridge restoration spanned over 5 years, focused on conservation and repair of all historic masonry, including granite, limestone and brick at the iconic towers, archorages and arch blocks in Brooklyn and Manhattan. The towers have a new LED lighting system which highlights the restoration brilliantly at night.

The monumental Soldiers and Sailors Memorial Arch at Grand Army Plaza was dedicated in 1892 commemorating Union soldiers lost in the Civil War. John Hemenway Duncan was the architect form the 80 foot tall granite arch. Sculptor Frederick Mac Monnies and his colleagues embellished the arch with sculptural figures. The colossal piers have spiral staircases that lead to rooms intended to hold trophies. The NYC Parks Department has maintained the arch for decades. This project was a joint effort of NYC Parks Department and the Prospect Park Alliance. This project served to stabilize the structure, repaired, restored and cleaned the granite arch. A new roof, drainage and ventilation systems were installed, new steel beams will reinforce the roof structure and support the massive chariot sculpture at the top. New energy efficient lighting highlights the architectural and artistic features.

To be continued...

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Construction is wrapping up on 13 42nd Street, a five story building in the first phase of the 36 acre MADE (Manufacturers, Artisans, Designers, Entrepreneurs) Bush Terminal development. Designed by ARCHITECTS and developed by the NYCEDE. The two phase project involves the conversion of abandoned industrial buildings into new manufacturing and studio hub space, as well as the creation of public recreation space.

The first structure, Building A, will have 140,000 square feet for innovative manfacturing and 30,000 square feet for indoor public gathering and event space. The complex will also include a park built on a former shipping pier (Pier 6) stretching out into Bay Ridge Channel and five acres of landscaped plazas. The redevelopment of Pier 6 is supporting the public space and operations of the adjacent Bush Terminal Piers Park and Bush Terminal campus. W Architecture & Landscape Architecture designed the greenery and plaza space across the entire campus.

The south portion of Bush Terminal, known as made in New York (MiNY) campus is a collaboration between the NYCEDC and the Mayor's Office of Media and Entertainment (MOME). This site will become home to Steiner Studiod sequel; which will provide 700,000 square feet of sound stages for Film and T.V. The project is expected to support 2,200 industry jobs and advance diversity and equity in the media and entertainment industry.

The NYCEDC is a mission driven, non profit organization that works for a vibrant, inclusive and globally competitive economy for all New Yorkers. The main strategies of NYCEDC are to strengthen confidence in New York City as a great place to live, learn, work and play as well as delivering sustainable infrastructure for communities and the City's future economy.

According to First Deputy Mayor Maria Torres-Springer “The MADE Bush Terminal campus is one more example of the city's focus on the Harbor of the Future, a sustained effort to create modern industrial spaces that leverage our blue highways and purposefully co-locate manufacturing, creative and cultural users, green space, public transit and attractive rental workspace for the builders of tomorrow.”

To be continued...

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There is a wide array of amenities for tenants including Pet friendly policies, a virtual doorman, enclosed parking with assigned vehicle spaces, bicycle storage lockers, a fitness center, a co working space, residential storage, a courtyard garden and a yoga dance studio. There is an outdoor rooftop terrace with lounge and dining areas, grilling stations, cold showers and planter systems that capture storm water. A fitness center,

The nearest subway is the L train at the Graham Avenue station to the west.

Construction in South Slope is nearing completion on an eleven story, uniquely designed residential building located at 651 Fourth Avenue, at the corner of 20th Street. The building was designed by INOA Architecture and developed by New Leaf Development. The 34,680 square foot building will have twenty six condominium units, averaging one thousand two hundred thirty seven square feet in size. There is a two thousand two hundred seventy square foot ground floor retail space and a small 450 square foot healthcare facility. Amenities include a fitness center, a second floor communal terrace and bike storage.

The closest subway is the R train at prospect Avenue to the northeast.

Completion of the building is expected mid 2025.

Construction in Bushwick, on a nine story hotel, located at 25 Stewart Avenue at Flushing Avenue has topped out. The building was designed by Bench Architecture for owner 25c LLC. The building will be ninety five thousand square feet, have 160 guest rooms, approximately five hundred sixty nine square feet in size, fourteen thousand square feet of community facility space, an adjacent plaza and open parking for sixty six vehicles. The hotel is expected to the first geothermal powered hotel in the city, with heating, cooling and hot water supplied by a geothermal loop. Amenities include a roof deck with an outdoor swimming pool and a bar/lounge in the cellar level.

The nearest subway is the L train at the Jefferson Street station.

Anticipated completion date of the building is for the second half of 2025.

Construction is progressing in Boerum Hill, at 540 Atlantic Avenue, between third and fourth Avenues, with frontage on Atlantic Avenue and Pacific Street. The two tower residential development was designed by NA Design Studio and developed by JCS Realty. The two eight story towers will have one hundred fifty nine units with an average size of six hundred eighty two square feet, four thousand eight hundred forty three square feet of ground floor commercial space and fifty one enclosed parking spaces.

The nearest subways are the B, D, N, Q, R, 2, 3, 4 and 5 trains at the Atlantic Avenue-Barclays Center station, with access to the Long Island Railroad.

540 Atlantic Avenue completion is scheduled for Fall 2025.

Construction in Crown Heights is nearing completion on 1730 Bedford Avenue, bound by Sullivan Place to the north, Empire Boulevard to the south and Bedford Avenue to the east.

The seven story mixed use building was designed by Rise Architecture for 1730 Bedford Avenue Realty LLC. The building will have fifty seven rental units with an average size of six hundred eighty four square feet. Eighteen apartments are reserved for affordable housing. The building will also have a thirty three thousand square foot Lidl grocery store, twelve thousand square feet of office space, a thirteen thousand five hundred and one square foot community facility, parking for 169 vehicles and a loading berth.

The nearest subways are the B, Q and S trains at Prospect Park station and the 2 and 5 trains at the Nostrand Avenue station.

Completion of 1730 Bedford Avenue is projected to be this Summer.

To be continued...

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Other proposals from the Department of Transportation required the teardown of the entire cantilever structure, including the Brooklyn Heights Promenade and construction of a temporary parallel bypass highway which would also need to be torn down.

Mr. Wouters design allows two lanes of traffic in each direction to move along the highway throughout most of the construction time, avoid diverting onto local streets and not interfere with the Brooklyn Bridge Park's five million yearly visitors.

In discussing his highway design experience, his latest is a teardown of Syracuse I-81, currently under construction. Wouters said “It's a great project that will really improve the city's downtown and establish several opportunities to grow the economy and address social equity.”

Wouters Streamline Plan is a total rethinking of the project and requires no bypass highway at all. Wouters said “The plan is less invasive, costs less and is quicker to build than other options, and leaves the historic Promenade and Brooklyn Bridge Park intact.” “By keeping the Promenade and repurposing the existing structure, the plan requires at least 30% less construction than other plans, and the cost savings are several hundred million dollars.”

Furman Street, alongside Brooklyn Bridge Park would remain a two lane road. The Streamline Plan would keep the existing cantilever structure, but would widen the lower vehicular deck to accept four lanes of traffic, two in each direction. The upper vehicular level would be converted to a wider, landscaped deck for pedestrians and bike use.

Wouters says “The removal of vehicular weight from the existing cantilever should eliminate most of the destructive vibrations currently undermining the structure, especially where the deck connects to the retaining wall. This allows the heavy weight and vibrations from traffic to be removed from approximately 65% of the existing retaining wall and cantilever.”

Wouters reviewed the plan with two independent transportation and civil firms and a non-profit with transportation experts. They all think the plan works, has no fatal flows, is efficient, solves critical traffic management during construction.”

According to Rachel Weinberger, the Peter N Herman chair for Transportation at the Regional Plan Association “I think it's an elegant plan and provides the amount of mobility that's required for that corridor, with a caveat that the plan needs to be fully vetted and fleshed out from engineering perspective.” “This is a very promising approach.”

According to Lara Birnback, executive director of the Brooklyn Heights Association “The BHA has seen Marc's plan, it's a significant improvement over anything that has so far come out of New York City Department of Transportation and we support its inclusion for serious consideration and investigation as part of the federal environmental review process.”

Birnback added “In addition, we are interested in learning more about his vision for the areas immediately to the south and north of the cantilever itself.”

Go Marc Wouters!!!

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Mayor Eric Adams and the New York City Economic Development Corporation are planning for 1,500 new mixed income residential units, retail space and other public improvements which include the reconstruction of Reigelmann Boardwalk, a $42M renovation to the Abe Stark Sports Center, shoreline enhancements along Coney Island Creek against storm surges, sewer upgrades and new streets.

Coney Island West is bound by Surf Avenue to the north, Coney Island beach to the south, Maimonides Park to the east and West 23rd Street to the West.

Mayor Adams said “We are delivering mixed-income affordable housing, investing $42M to renovate the Abe Stark Sports Center and making significant improvements across streets, sewers and the public realm.” “Coney Island's best days still lie ahead. Today, we started the next chapter in its bright future.”

Part of the redevelopment masterplan will include several large residential towers West of Maimonides Park. The Abe Stark Sports Center will have an exterior renovation, a new entrance, boardwalk signage, large scale murals, upgrades to the ice arena and other amenities to be announced.

Parcel A, the 80,000 square foot tract on the western edge of the rezoning area along Surf Avenue, between west 21st street and west 22nd street will have more than 500 mixed income homes, 25% of which will be dedicated to affordable housing and ground floor retail spaces.

Future upgrades will be announced in stages as the development progresses along with finalized renderings for each of the new buildings that will be built.

Go Coney Island!!

To be continued...

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Presidents Day, official name Washington’s Birthday, is a Federal holiday in the United States held annually on the third Monday of February.

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655 Union Street / 204 4th Avenue is a thirteen story building in Gowanus. The building was designed by L & Z Architecture and developed by Avery Hall and Gindi Capital. The 200k sq ft Structure will have 193 rental units in one and two bedroom layouts, as well as 14k sq ft Of ground floor retail space. Fifty units will be designated for affordable housing. The building is bound by Sackett Street to the north and Raul Vasquez Jr. place to the south.

There is a wide array of residential amenities which includes a landscaped rooftop terrace with a 25 y Fund Corporation, Los Sures and swimming pool, lounge areas, grilling stations and an outdoor dining lounge. There is a second floor garden. Fitness amenities are a gym with cardio equipment, Peloton Bikes, weights and a wellness studio for Yoga, Pilates and Barre workouts. Other amenities include 24 hour concierge service, a co-working space, a children's playroom, a pet washing station, tenant storage and a bike storage room.

The building is located next to the Union Street, R train station. Building completion should be in the next few weeks.

Construction is wrapping up at a nine story, all affordable building located at 89 Throop Avenue in the Broadway Triangle section of South Williamsburg. Designed by Marvel and built by Mega Contracting in collaboration with St. Nick Aliance, Riseboro Community Partnership, Southside United Housing Development Fund Corporation, Los Sures and United Neighborhood Partners.

The building will have 140 Affordable apartments in studio to four bedroom layouts. There will be a 6,400 sq ft Workforce development center operated by St. Nick Alliance on the ground floor.

The building is bound by Throop Avenue to the Northeast, Gerry Street to the Northwest and Bartlett Street to the Southeast. 

All apartments will be available at or below 80% median income (AMI) and a small group of units will be reserved for formerly homeless New Yorkers. Tenants will have access to a landscaped outdoor courtyard, a family room, two community rooms and a storage place for strollers and bicycles.

89 Throop Avenue is designed to Passive House Standards and resident utility bills are expected to be less than typical monthly utility bills in standard residential buildings.

The closest subway to the building are the J, M and Z trains at the Lorimer Street and Flushing Avenue Stations to the east over Broadway and the G train to the southwest at the Flushing Avenue station along Marcy Avenue.

Completion date is this Summer and the building will be open in the early Fall 2025.

At 63 Stockholm Street in Bushwick, Brooklyn NY, construction has topped out on a four story All – affordable residential building. Designed by STAT Architecture and developed by Riseboro Community Partnership and St. Nicks Alliance under Bushwick Alliance LLC.

The building is 20,111 sq ft in size and will have 20 rental units, a cellar level with bike storage and a rooftop covered with a photovoltaic canopy. The project cost $10M and is located on a formerly vacant interior lot between Central and Evergreen Avenues.

The project is built to Passive House standards with sustainability features such as high efficiency energy recovery ventilation with fine particle filtration, vacancy dimming LED lights in common areas such as hallways, a Sanden CO2 source heat pump and the photovoltaic roof canopy that will generate over 275,000 k BTU per year and many additional sustainability features.

Units will be for individuals and families earning 27 to 80 percent of NYC area median income. The building will also contain four units for the formerly homeless individuals or families.

The closest subway is the M train at Central Avenue station over Broadway.

63 Stockholm Street is planned to be an all – electric, net zero building, meeting the PHIUS + source zero 2018 standards.

Building completion date is planned for Summer 2025.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

For example, converting the space under the highway at Park Avenue in Fort Greene into a hub where delivery workers can charge their e bike batteries and store their vehicles.

Another project under consideration would re-design the chaotic intersection beneath the BQE at West 9th Street to make the area safer for pedestrians and cyclists and less confusing for drivers.

The DOT is also considering a proposal capping the trenched sections of the highway in Carroll Gardens, Williamsburg and pick out a few Bay Ridge to build Parks and public spaces above the roadway.

According to Deputy Mayor for Operations Meera Joshi “What the DOT engaged in is a large grassroots effort to get the voice of those who live every day in the shadow of the BQE and hear from them exactly what their concerns are, their visions, their plans, many of which they've been thinking through for years, so that we can put them together and pick out a few of them and take them to the next stage, ”BQE is used by 150,000 vehicles daily, but according to a DOT report, the highway harms residents quality of life across Brooklyn and Queens.

The DOT report says “The BQE's infrastructure has come at the expense of communities and neighborhoods alongside the highway: It acts as a physical barrier, divides neighborhoods and limits connections for pedestrians and bicyclists. The highway poses challenges to the safety, accessibility and environment of the communities it traverses.”

According to Marco Carrion, Executive director of the Williamsburg environmental justice organization, El Puente, he wants the city and state transportation departments to move forward with solid plans for the BQE that turns some of the renderings in the report into reality.

Carrion said “We still have not yet seen a joint commitment from city and state DOT pushing forward a comprehensive approach and transformative vision to this corridor that invests in alternative measures that make our communities healthier, safer and less dependent on this infrastructure.”

DOT officials are trying to finalize a design to rebuild the dilapidated triple cantilever section of the BQE in Brooklyn Heights. The plan is to begin construction in 2029.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

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Sincerely yours,

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Your Brooklyn neighborhoods Realtors

After 5 years of one issue after another with the NYC Dept of Buildings, the long anticipated opening of L& B Spumoni Gardens has finally happened! The original L&B is in the Gravesend neighborhood in Brooklyn, New York located at 2725 86th Street. I have been a fan of their upside down Sicilian pizza and spumoni ice cream for decades.

The new location at 46 Old Fulton Street, has the scrumptious magic of the original! My wife and I recently stopped by on our way home from a grocery shop at Wegmans and WOW! The pizza is a perfection, so very delicious! Charlie Cavallo, the general manager of the DUMBO location greeted us with a smile and warm welcome. You could see the pride and joy on his face that this opening finally happened.

The restaurant logo of a horse drawn carriage illustrates the original spumoni & pizza deliveries by founder Ludovico Barbati in 1939. You can see the logo mural on a wall facing the BQE as you drive by.

According to Charlie Cavallo, “We're taking it easy and expanding the menu daily. For now it'd dine in or pick up only, but deliveries will be coming down the road.” “We are really really excited to open. We had the friendliest welcome from neighbors, nice people strolling by with children and families.”

Cavallo adds “The secret is the ovens are new, but the pans are from the original location and that's the key.”

It doesn't hurt to also have the same pizza chefs from the 86th Street location, Franco Meza and Chef Salvatore Zapparata working with Executive Chef Leonardo Kern, who oversees everything.

The dining room menu includes some of Cavallo's favorite dishes “Linguini and clams, dueling shrimp and baked clams.”

There are other nearby pizza restaurants, Grimaldi's and Juliana's which sell traditional style whole pizzas.

Cavallo says “We are known for Sicilian upside down squares and our homemade spumoni ice cream.” “The more places open up in the area, the more people will come to the area. The best pizza in New York can be found right here in DUMBO. This is now going to be the pizza Mecca of New York!”

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Martin Luther King Jr. Day (officially Birthday of Martin Luther King, Jr., and sometimes referred to as MLK Day) was approved as a federal holiday in 1983 and it has been recognized in all 50 states since 2000in the United States marking the birthday of Martin Luther King Jr. It is observed on the third Monday of January each year. King's birthday is January 15.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

According to Historic Towns of America, which travels the country visiting and documenting the nation's most historic towns, oldest places and historic firsts, on June 15th, 1894, Ocean Parkway became the first Street in the United States to have a designated bike lane.

The first bike path in America was created by splitting the pedestrian way of Brooklyn's Ocean Parkway.

The Brooklyn's, NY Ocean Parkway bike path is recognized by Guinness World Records as the oldest bike path in the world. NYC's Parks Department describes Ocean Parkway as the country's first bike path.

Ocean Parkway was designed by Fredrick Law Olmstead and Calvert Vaux, who were also responsible for Central Park and Prospect Park. In 1868 land for Ocean Parkway was acquired by the city of Brooklyn.

In 1874 construction of Ocean Parkway began and was completed by 1880. In 1894 the pedestrian path was split to create the first bike path in the United States. To keep up with demand the path was widened in 1896.

The construction of the Ocean Parkway bike path marked a significant milestone in the development of cycling infrastructure in America, paving the way for the creation of bike paths and lanes in cities across the country.

Good news for bikers and pedestrians: Long awaited repairs finally began on the bike path last year.

Bad news: The work only covers a seven block stretch, between Avenue R and Avenue X.

According to Jon Orcutt. The director of advocacy at Bike New York “The rest of Ocean Parkway continues to deteriorate.”

According to Hunter Armstrong, executive director at Brooklyn Greenway Initiative “Hope may be on the horizon.” “Coming in 2025, the city of New York has received a planning grant from the federal government to start re-envisioning Ocean Parkway to improve it as a greenway.” Fingers crossed!

Go Ocean Parkway!!!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

After years of wrangling, revamped plans and negotiating, the developer, local council member Crystal Hudson and Brooklyn Botanic Garden have reached a deal to move forward.

Rather than setting aside 25% of the 355 units as affordable housing, the developer will now set aside 30% at the higher income level, 70% of the area median income.

An attorney for Continuum said, “The development team believes the proposal is workable.”

According to BBG President Adrian Benepe “After years of discussion, debate and vigorous public advocacy, the threat of permanent loss of sunlight for our living museum of plants is over.” Benepe continued “We are grateful to our elected officials for their steadfast support and diligent work to craft a plan that ensures the sunlight that plants need to survive, protects the Garden from permanent damage and enables affordable workforce housing.”

According to Crystal Hudson, council member who represents the district “The updated proposal meets out joint priorities of protecting the cultural institutions that drive our city's economy and building affordable workforce housing. Hudson added, “We fought for sunlight, and we won.”

The project will create 1,000 good paying union construction jobs, and establishes the first union financed, built and operated residential development in the history of New York City.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

We are thankful for the privilege to serve our clients, and their continuous support and business! May 2025 be successful year for all of us!

Sincerely,

Accord Real Estate Group Team of brokers and agents

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

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The Biden/Harris Bipartisan Infrastructure Grant comes from Mayor Eric Adams, Governor Kathy Hochul, NYCEDC and the Port Authority of NY and NJ. An agreement has been made to transform the 122 acre site which runs along the Columbia Waterfront District and Red Hook, into a modern maritime port and mixed use development.

The site is currently home to the Brooklyn Cruise Terminal at Pier 10, Piers 7-12, NYC's Ferry Atlantic Basin stop and private tenants. The city is taking control of the entire Marine Terminal, previously a facility of the Port Authority of NY & NJ.

The Mega Grant for BMT's modernization was made possible by the Bipartisan Infrastructure and Jobs Act, which was led to passage by Senator Chuck Schumer.

Schumer said “After years of advocating for the revitalization of Brooklyn's waterfront, including preservation of existing freight operations and addition of new manufacturing and assemblage of wind power infrastructure, not to mention bike lanes and parks, I'm proud to deliver this Mega Grant win with my Congressional partners, Representative Dan Goldman and Senator Kirsten Gillibrand.” Schumer added “The project will boost the economy and create good paying jobs for those in adjacent communities, including Red Hook, Sunset Park and Gowanus and add upgraded and safer bike and walking lanes to boot.”

The NYC Economic Development Corporation has appointed a 28 member Brooklyn Marine Terminal task force, chaired by Representative Dan Goldman and two vice chairs, Councilmember Alexa Aviles and State Senator Andrew Gournades.

Goldman said “The task force is comprised of a wide range of experts including federal, state and local elected officials, the local community board, local resident organizations, maritime and industrial stakeholders, unions, planning and environmental justice organizations and representatives of the local business community.”

The task force will work with the chairs, contribute to the “Vision Plan” and have “Ultimate Approval Authority” over recommendations in the plan to be presented in 2025.

Go Brooklyn!

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Every year we blog about the greenest street award, given to the Brooklyn neighborhood/ streets where the residents truly recognize the importance of caring for their trees and gardens.

There is an organization named Forrest for ALL NYC which started in 2021 seeking to expand New York City's tree canopy up to 30% by 2035 and maintain the city's existing coverage. Forrest for ALL is a coalition that brings together approximately 150 organizations to meet its goal of planting and sustaining trees in an urban environment to fight the climate crisis and restore earth's natural assets.

According to Brooklyn's Prospect Park Alliance President, Morgan Monaco “Forrest for ALL envisions a healthy, biodiverse, robust, accessible, well understood and resilient urban forest that justly and equitably delivers its multiple benefits to all residents of New York City and helps the city adapt to and mitigate climate change.” “Our diverse and inclusive coalition is committed to working together to advance effective and lasting policies, plans, practices, research and investments.” “Collectively, these actions will help to protect, maintain, use, monitor, understand, promote and expand the NYC urban forest and ensure that it's benefits accrue throughout all stages of the life cycles of NYC's trees.”

When people think about climate change, typically what comes to mind are emissions from buildings, cars, trucks and airplanes. Some of the important interventions to climate change are capping emissions, converting to solar and conversion to wind.

According to Monaco,” The natural environment and urban forest play a really big role in mitigating the impacts of climate change.”

Forrest for ALL wants New Yorkers to connect with their urban forest and reach the goal of 30% canopy coverage by 2035.

As New Yorkers, we need to know the value of trees to our city.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

There will be a new branding campaign, a special Brooklyn artists exhibition, the re installation of American Arts galleries and a birthday bash that has already happened on October 5th and 6th, 2024. The new branding campaign/ new logo, new signage, a digital campaign, a new website and merchandise. Other Means, a Brooklyn-based graphic design studio collaborated with the museum's in house designers, led by Adam O'Reilly, for over a year of research and development to launch the new look. The new logo aims to communicate a bold and exciting new future for the museum.

From the museum's beginnings as Brooklyn's 1st public circulating library, to the global cultural hub the museum has become today, the Brooklyn Museum path has always been one of evolution and transformation.

Nurtured by the freethinking spirit and creative energy of Brooklyn, The Brooklyn Museum reimagines what a museum can be.

According to Anne Pasternack, Shelby White and Leon Levy director of The Brooklyn Museum “The ways that audiences are engaging with museums and expanding, we need a new brand that meets the demands of the day, honors our rich history, and brings a whole lot of energy”. “There's no better time to launch it than our 200th anniversary!”

Happy 200th Anniversary Brooklyn Museum!

Here's to 200 more years of innovation, creativity and excellence at the incredible Brooklyn Museum!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Thanksgiving has been celebrated nationally on and off since 1789. Originated as a harvest festival, and the centerpiece of Thanksgiving celebrations remains Thanksgiving dinner. Gathering together with the family and friends to enjoy a favorite dish and expressing gratitude for many things.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Realtors

The Metropolitan Transportation Authority will release a request for proposals (RFP) for engineering and design of the fourteen mile IBX project.

The $5.5B IBX project will provide light rail service along an existing freight railway.

According to Janno Lieber, the MTA's chief executive officer, “About 60% of people who live along the route commute to jobs that are in Brooklyn and Queens, not Manhattan.” “The aim is to reduce commuting time and offer better public transportation through lower income neighborhoods which more than 50% of residents don't own a car.” Lieber adds “We're turning it into something which is transformative for so many New Yorkers.” “ It makes no sense that the 5 million people who live in Brooklyn and Queens have to go to Manhattan on the subway to reach the other borough. It makes no sense.”

The IBX will connect to 17 different subway lines and the Long Island Rail Road.

This project does have funding risks. The main priority of the MTA is to maintain the existing infrastructure. Half of the this $5.5B for IBX is unfunded at this time. Part of what contributed to the funding risk or potential shortfall is that Governor Kathy Hochul in June, paused a congestion pricing plan that would have raised money for MTA infrastructure projects.

Lieber concluded, “We're all mindful of the fact that the congestion pricing pause is in effect, but we were able to get some money from the State of New York to keep this project moving forward, at least at the design stage.”

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Veterans Day (originally known as Armistice Day) is a federal holiday in the United States observed annually on November 11, for honoring military veterans, that is, persons who have served in the United States Armed Forces.

Thank you to all the brave men and women for your service and sacrifice to defend our freedom and way of life! We pay honor, we thank you, we are grateful each and every day. We recognize the patriotism, love of the country, willingness to serve and sacrifice of all veterans, including those who served in peacetime.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Domino Square was designed by landscape architecture firm Field Operations, the same team repsonsible for the original Domino Park site and The High Line in Manhattan, in collaboration with Brooklyn based architecture firm Studio Cadena. Domino Square will host Farmer's Markets, graduations for neighborhood schools, salsa nights and more.

The Square will debut Williamsburg's first waterfront ice skating rink, which is planned to be open in November 2024 for the Winter season.

According to Jed Walentas, principal at Two Trees Management “We have obviously been thrilled with how the community has responded to and adopted Domino Park. Now, with the opening of the Square, we will be able to accommodate a broader array of activities that will attract neighbors from all walks of life.”

A full city block in size, Domino Square was designed to have a “bowl like” interior, with a lifted edge comprised of distinctive and lush planting beds and tiered seating that creates a “theater in the round” effect.

Located on Kent Avenue, The Square extends further into the neighborhood, inviting more people to come to the park.

A retail arcade designed by Studio Cadena has been built from cast in place concrete piers along the street perimeter.

According to Lisa Tziona Switkin, partner, Field Operations “Domino Square completes the public open space promise to the community, enhances access to the neighborhood and waterfront and offers a distinctive view of the refinery building.”

I can't wait to visit!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Local editors from around the world considered the candidates by their community and social ventures, access to open and green space and thriving street life. Not only has Flatbush achieved the top spot as the coolest neighborhood in New York City, Time Out's global network of local editors ranked Flatbush as the 17th coolest neighborhood in the world! (out of 38).

According to Time Out's Travel Editor, Grace Beard, “Yes, you'll find some of those international hallmarks of cool. But in every neighborhood on this list there's something you won't find anywhere else.” “When communities fiercely support and rally around their local businesses, even the most eccentric ideas can become a reality. And that, in our eyes, is what makes a neighborhood truly cool.”

Why Flatbush? Every neighborhood has it's own gravitational pull. South and East of Flatbush is the immense and spectacularly wonderful Prospect Park. The combination of Black – Owned businesses, from great restaurants, bars, shopping, gorgeous tree lined blocks with well kept homes, The Kings Theatre, a historic, world class entertainment venue etc.. add up to a rich, diverse, vibrant, walkable cultural landscape that make Flatbush New York City's coolest neighborhood for 2024.

Rooted along Flatbush, Nostrand, Church and Utica Avenues, Flatbush is home to the largest and most diverse Caribbean – American Latinx community outside the West Indies according to Caribbeing, a cultural organization which celebrates Little Caribbean, it's artists, business owners, creators and residents.

Plan a perfect day in Flatbush, the coolest neighborhood in New York City for 2024! You will want to go back again and again!

Enjoy!!!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

The profile for four of the five homes are: large, historic homes, gut renovated and put back on the market at a very attractive markup.

The fifth home, located at 170 Clinton Street, in Brooklyn Heights, was formerly a 6,110 square foot, 10 family house, built in 1900. This five story house recently went into contract with a last asking price of $14M, the second highest price signing in Brooklyn, NY this year.

According to husband & wife duo, Carlos Saavedra and Nicole Eckstrom, of Eckstrom NYC, a seven year old firm, “The buyer can enjoy the fruits of a custom renovation, without the labor.” Saavedra adds “In Brooklyn Heights, there are almost no renovated townhouses at all, and people still pay these crazy prices knowing they're going to go in there, gut the whole thing and spend $2M - $4M more on top.” “That's always been the norm, as an accepted, very unfortunate reality.”

Saavedra and Eckstrom bring the general contractor, who is one of their partners in the firm with experience handling suppliers, fussy Landmarks Preservation Committee and renovation anxieties. The buyer will sign a contract for an eight figure finished product. In essence, the buyer needs to bring a pile of money and some vision, design sense and ideas. For example, at 170 Clinton Street, the structural renovations were completed with seven bedrooms, a lower level with a gym and sauna, a double height kitchen and dining space and an extra wide backyard with an outdoor kitchen. Eckstrom NYC will collaborate with the buyer on interior finishes.

Eckstrom NYC has made 18 purchases for $90M in the past two years and has worked on thirty homes since the firm's inception.

Brooklyn townhouses are hot! In the last 12 months there have been 1,716 signed contracts in Brooklyn, up 40% from 12 months prior. Even with interest rate hikes, townhouse prices in Brooklyn, did not suffer.

Great job Eckstrom NYC!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Columbus Day is a federal holiday in the United States. It is officially celebrates the anniversary of Christopher Columbus's arrival in the Americas.

The White House - A Proclamation on Columbus Day, 2024 (full text)

Today, may we honor the history and heritage of Italian Americans and all that they have done to help realize the full promise of America for generations. In commemoration of Christopher Columbus’ historic voyage 532 years ago, the Congress, by joint resolution of April 30, 1934, and modified in 1968 (36 U.S.C. 107), as amended, has requested the President proclaim the second Monday of October of each year as “Columbus Day.”

NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, do hereby proclaim October 14, 2024, as Columbus Day.  I direct that the flag of the United States be displayed on all public buildings on the appointed day in honor of our diverse history and all who have contributed to shaping this Nation.

 IN WITNESS WHEREOF, I have hereunto set my hand this eleventh day of October, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-ninth.

                                JOSEPH R. BIDEN JR.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The Metropolitan Transit Authority (MTA) will allocate over $2B for the beginning phases of the construction of the IBX, the 14 mile rail connecting Queens and Brooklyn, New York.

Governor Hochul says “We need to reconnect neighborhoods that were severed by asphalt highways, disproportionately impacting communities of color.” “Stronger rapid transit in Brooklyn and Queens is long overdue. Both boroughs have exploded with residents in recent years, and these communities rely heavily on public transportation.”

According to Gothamist (A non-profit newsroom, powered by WNYC), the line would service 19 stations and connect to 17 different subway lines, revolutionizing public transportation traffic patterns and opening up access to the outer boroughs.

As of now, IBX is a long way from becoming a reality, with the MTA's allocation of finances for the project covering only half of the $5.5B cost.

Officials do not expect that capital will be in place until after 2030.

Given how ambitious this project is and the impact it will have on the day to day lives of New Yorkers, hopefully it will be worth the wait.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

A eye catching new 12 story mixed-use building is planned for 1490 McDonald Avenue in the Mapleton (bordered by Midwood and Borough Park) section of Brooklyn, New York.

This interesting design is the vision of C3D Architecture. The 185,000 square foot building will have office space, a community facility, parking for tenants, a public plaza and a space for a restaurant and cafe.

The 29,500 square foot trapezoid shaped property is bordered by Washington Cemetery to the north, Avenue M to the south, McDonald Avenue to the east and low rise warehouses and commercial buildings to the west.

The unusual design of the building has an angular tiered massing with an exterior reflective glass curtain wall. The design also consists of alternating geometry of the tiers with terraces of a variety of dimensions, all with landscaping and seating. To further add to the uniqueness of the design, the public plaza at the base of the building sits below grade under a soaring overhang with tall cylindrical columns supporting the overhang.

A lawn on the northwestern corner of the building provides a buffer between the building and the Washington Cemetery.

The nearest subway is the F train at the elevated Avenue N station to the south over McDonald Avenue.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

According to a report by Commercial Edge, a Commercial Real Estate data company, “A spoke in discounted sales of office buildings, historically sluggish market for new leases is making office – to residential conversions increasingly viable in the country's largest metropolitan areas.”

New York City's Department of City Planning is proposing a rezoning of East Midtown, a 73 block area surrounding Grand Central Terminal. The rezoning covers the area bound by East 39th Street to the south, East 57th Street to the north, second and third avenues to the east and a line 150 feet east of Fifth Avenue to the west.

East Midtown historically has been one of the most sought after office markets in New York City. The average age of its office buildings is 70 years old. As these older office buildings become less desirable for office tenants, they become more economically attractive for conversion from office to residential.

According to Peter Kolacyznski, a director at Commercial Edge, “With the continued destruction of office values, we believe the total pool for potential conversions into multi family is larger than initially expected.”

According to New York City Mayor Eric Adams “City of Yes” will make it easier for vacant offices and other nonresidential buildings to become housing, a win win policy to create housing, boost property values and create more active, vibrant neighborhoods in areas that have been hard hit by the effects of the pandemic. City of Yes will breathe new life into our office districts and address our housing crisis.

The City of Yes proposal for Manhattan's Midtown South Mixed Use Plan will encompass 42 blocks. The goal is to foster vibrant 24/7 mixed use neighborhoods in Midtown South.

Lastly, the Commercial Edge reports “Manhattan is the top market that has a significant amount of space rated strongly for conversion.”

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Brokers and Agents

Celebrating Labor Day in honor and recognition of the American labor movement and the works and contributions of laborers to the development, achievements and contributions of laborers of the United States. Labor Day became a national holiday since 1894.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

In June the legislative session voted to renew New York City's largest commercial real estate subsidy which gives more than $500M a year in tax breaks for new construction and renovation projects.

ICAP was set to expire in 2025, but at the request of mayor Eric Adams, the legislature extended it for another 4 years.

According to Alaina Turnquist, a budget and policy analyst with the IBO, Independant Budget Office (which provides non partisan information in 3 annual reports, required by the city charter, about the city budget and tax revenues) which is still planning to release its study “Our evaluation was timed with the 2025 expiration. We did not expect the program to be renewed a year earlier.” “It is best practice to evaluate a tax expenditure or a tax break before you renew a program.”

The Citizens Budget Commission is calling for Governor Hochul to veto or limit the extension to only 1 year, so the study of the program can be completed first.

According to Andrew Rein, the Citizens Budget Commission President, “The rushed, under the radar ICAP extension continues the state's poor practice of preserving economic development tax incentive programs without proof they work – or in some cases, despite evidence they are ineffective.”

The ICAP program, each year, grants hundreds of millions of dollars of tax breaks to new or substantially renovated commercial properties in New York City. ICAP is supposed to spur construction by providing developers tax breaks for up to 12 years on additional taxes that result from improvements on the property, gradually phasing out over the next 13 years.

The IBO and economic development experts consider a subsidy worthwhile if it spurs activity that generates more future tax revenue than the revenue forgone by the subsidy + the effects on Power Plants when setting New York's electricity prices.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

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Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Brokers and Agents

The project is called The Fulton Mall Streetscape Improvement Project and is a result of the Downtown Brooklyn Partnership, New York City Parks Department and the city's Department of Transportation working together. Funding for this project was provided by the mayor’s office.

New York City Parks Department will be beautifying the area by enlarging planting beds, installing new trees, new benches and permeable pavers next to the curb on Fulton Street, from Boerum Place to Flatbush Avenue.

Construction will be done in 9 phases with the work taking place only at night, from 8pm to 5am, Monday to Friday. Each phase will cover 2 blocks. Phase 1 will tackle the North side of Fulton Street, between Boerum Place and Jay Street. The Streetscape project completion is expected to be Fall 2025.

According to New York City's Parks Commissioner, Sue Donohue “With new street trees, tree pits and seating on the way for Fulton Street, Downtown Brooklyn is about to get even more beautiful.” “This project shows how multi agency collaboration and public-private partnerships can enhance our public spaces for the benefit of all New Yorkers.”

Part of a larger $40M Downtown improvement plan, the Fulton Mall Streetscape Improvement Project aims to improve Downtown Brooklyn's streetscape, transportation and public space, including pedestrian and roadway user safety enhancements and improved bus service announced by the city in 2023.

According to Department of Transportation Commissioner Ydanis Rodriquez, “Our goal is to shift Fulton Mall away from the old school, car centered model. Improvements include wider sidewalks, protected bike infrastructure and dedicated bike lanes.”

According to Downtown Brooklyn Partnership president Regina Myer “Downtown Brooklyn has become a thriving, mixed use neighborhood and these improvements will further enhance the Downtown experience for shoppers, office workers and residents alike.” ”Since it's 2004 rezoning, Downtown Brooklyn has experienced significant increases of residential population, new businesses and jobs.”

Looking forward, Downtown Brooklyn Partnership has been working on a larger, evolving “Public Realm Action Plan” with design firms WXY Architecture + urban design (WXY). The vision is to redesign Columbus Park, Borough Hall Plaza and the Korean War Veterans Plaza, which they call underutilized.

To be continued...

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Your Brooklyn neighborhoods Brokers and Agents

A condominium building is planned to be 55 feet high, 16,977 square feet in size, with 13 residences and an average apartment size of 1,300 square feet. The building will have a cellar, a rear yard and seven open parking spaces.

Hamish Whitefield Architects is the architect of record and YS developers have filed the plans for this project.

Site clearing has finished in Greenpoint, at 15 West Street/ 30 Porte Plaza, between West and Quay Street,  where there are plans for a 29 story residential building, part of Cooper, Robertson Partner's Calyer Place master plan in Greenpoint. The building is designed by SLCE Architects and the developer is Halcyon Management Group.

Originally, the plan was for an 18 story building with 179,785 square feet, 181 residences, commercial and community space and 142 enclosed parking spaces. The scope of the project has been expanded with no further details available yet. The $500M Calyer place Master Plan include 1,000 mixed income apartments, commercial space, community facilities, parking and a revamped waterfront esplanade along the East River. The G train, Greenpoint and Nassau Avenue subway station, along Manhattan Avenue to the East, is closest to the project.

In Fort Greene, located at 240 Willoughby Street, a 30 story residential building is moving forward. The building designer is Fischer Rasmussen Whitefield Architects and the developer is the Rabsky Group, which bought the property in 2019 for $95M. Plans are for 300 rental units with 147 dedicated to affordable housing. 240 Willoughby LLC also owns the property next door, an existing 21 story apartment building undergoing extensive renovations.

The development boundaries are Willoughby Street to the North, The Brooklyn Hospital Center to the South, Fort Greene Park to the East and Ashland Place to the West.

Completion is planned for Winter of 2024.

To be continued...

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Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Brokers and Agents

This week The NYC DOT) announced, after years and years of community advocacy, DOT will be making badly needed safety improvements to the western section of Atlantic Avenue, that the community has been hoping and pleading for.

According to New York City Department of Transportation Commissioner Ydanis Rodriquez “The safety improvements will include, new pedestrian space, the deployment of two full time traffic enforcement agents, vehicle lane markings to reduce conflicts at Court Street; two new concrete pedestrian islands at Columbia Street; new mid-block crosswalks between Court Street and Clinton Street, and Henry Street and Clinton Street and curb enhancements such as loading zones.”

Senator Andrew Gounardes says “Atlantic Avenue is a community hub full of restaurants, bars and other great local businesses, but for too long, the roadway has been designed to prioritize cars speeding through, not creating a place for neighbors and visitors to safely be.”

According to Brooklyn Borough President Antonio Reynoso “Atlantic Avenue has for too long been defined by danger and death.” “Thanks to Councilmember Lincoln Resler, a coalition of electeds, and an outpouring of community advocacy, that's finally beginning to change.” “The significant safety upgrades that NYC DOT is making will begin to rebuild this street around the safety of our people.”

Over the past number of years there have been approximately 500 crashes on the western section of Atlantic Avenue, which runs through three Brownstone neighborhoods – Brooklyn Heights, Cobble Hill and Boerum Hill and Downtown Brooklyn.

Kelly Carroll, Executive Director of the Atlantic Avenue BID says “It's like I-95 running through your neighborhood.” “It's unfathomable that human beings are killed by vehicles on Atlantic Avenue when we have a citywide speed limit of 25 miles per hour.”

Councilmember Lincoln Resler said “We've all known how unsafe Atlantic Avenue has been for decades.” “I grew up a couple of blocks from here. It's been unsafe my whole life. Every family in Brooklyn Heights, Cobble Hill and Boerum Hill worries that their children are unsafe around Atlantic Avenue.”

According to Assembly member Jo Ann Simon “It's a new DOT today.” “These street safety improvements couldn't have come fast enough and will make a real difference in the lives of the people in this area.”

According to Lara Birnback, Executive Director of the Brooklyn Heights Association “We thank the DOT for recognizing the urgency of these lifesaving interventions and taking action to make things better in the immediate, while they continue to study and plan for additional measures in the future.”

To be continued...

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The 2 acre parcel called Motiva, is located in the northernmost end of the waterfront park and will receive a $9.8M transformation. Construction on the property, formerly sitting overgrown and unused, began in March 2024. In addition, environmental remediation work has begun in parallel with the construction work.

Bushwick Inlet Park is part of the approximately 40 – Acre Greenpoint – Williamsburg Open Space Master Plan, bound by Quay Street to the North and Franklin Street to the East.

The landscape design of the park will include lush, a small sandy beachfront with a kayak launch, benches and large boulders for seating, bicycle lanes and an Osprey stand. The pathway running through the park will be built to the northern and southern ends of the parcel in preparation for the continuation with further expansion of the green space.

The site has been cleared for the most part, with only a few sections along the water's edge not done. The northern end is furthest along with a new shoreline of large rocks forming a breakwater, dirt infill, low rise concrete retaining walls and a pathway for pedestrians. The start of landscaping will be the next milestone in construction. Two sections of the park area are currently open at 50 and 80 Kent Avenue, north of Marsha P Johnson Park. There is a completed greenspace of 50 Kent Avenue – Bushwick Inlet Park, located to the south along Kent Avenue between North 11th Street and North 12th Streets.

Between 50 Kent Avenue and the Motiva parcel is a large fenced off plot, formerly occupied by Bayside Fuel Oil tanks and the company's industrial warehouse buildings, and is now vacant and overgrown. The timeline for construction on this section of the park has not been announced yet.

Other organizations that will help maintain the future park space includes the Friends of Bushwick Inlet Park, a volunteer and advocacy group and the North Parks Alliance, district wide nonprofit parks conservancy group.

To be continued...

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Your Brooklyn neighborhoods Brokers and Agents

The vision of hills, dales, meadows and wetlands came to be for the most part from MVVA, a team of landscape architects led by Michael Van Valkenburgh.

Long after he was paid for his services, along with Park staff, keep an active To Do List. This pride and obsessiveness coupled with the Brooklyn Bridge Park Corporation's staff can be clearly seen in the lack of litter, the well kept benches, the working toilets and the thick profusion of plants.

The landscape designers rejected being defined by other parks as being a set of French style allees, a show garden of bravura horticulture, a mosaic of different activity zones or a picturesque emulation of wilderness. MVVA combined some of these models into a new kind of urban edge: spectacular but informal and tough enough to withstand crowds and violent weather. The Brooklyn Bridge Park's uniqueness makes it hard to copy, but it's hard not to try.

You can walk (or bike) along the water's edge from Atlantic Avenue, to the Brooklyn Bridge, across the East River, around  the tip of Manhattan to Battery Park, and all the way up the Hudson via Riverside Park to the George Washington Bridge.

When Super Storm Sandy hit in 2012, still young plantings, took enormous amounts of salt water and most made it through healthy and intact.

For Planners around the world, Brooklyn Bridge Park is irrefutable proof not only that a city can adapt to Climate Change by re-engineering it'd edge, but that the process should yield beauty, joy and romance.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Independence Day is a federal holiday in the United States commemorating the Declaration of Independence of the United States, on July 4, 1776. On this special day we pay homage to those whose sacrifices made today a reality.

Have a great and safe 4th of July!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Broker

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

As time went by, developers purchased some of these parking lots to build housing. The Department of Housing Preservation and Development (HPD) has requested developers, property managers, and service providers to submit proposals for their ideas on affordable housing and community amenities located on opposite ends of one city block.

According to HPD Commissioner Adolfo Carrion Jr. “We don't need more parking lots for a handful of private cars on city owned land, but we certainly do need more affordable homes in Boerum Hill. We want to get more people, especially seniors, out of instability and into affordable safe homes. HPD's Nevins and Third projects will change lives and make an already wonderful neighborhood even better”.

These 2 sites up for separate proposals are 153 Nevins Street, for rental housing and 108-114 Third Avenue for affordable senior housing.  HPD will select the best proposal for each site by 2025.

The Nevins site is at the corner of Nevins Street and Wyckoff Street. The Third Avenue site is a L shape and fronts Third Avenue and Wyckoff Street. A 2022 rezoning allows medium density residential to be built and was formerly a manufacturing district.

The sites are in Brooklyn Community District 2, but across the street from Community District 6. Both Community Boards were engaged equally during the community envisioning process. Both community boards will receive updates throughout the entire process.

Near the end of construction, the homes will be available to income qualifying households through the city's Housing Connect lotteries portal.

Brooklyn Borough President Antonio Reynoso said “I'm grateful to HPD for continuing to pursue affordable housing and community amenities in Boerum Hill, especially for our older adults seeking to age in place and continue to enjoy our borough to the fullest. City owned land should always be dedicated to the public good, and converting a parking lots for private cars into stable, accessible housing for neighbors is precisely the work we need to do as we work to end the housing crisis rapidly destabilizing our communities”.

To be continued...

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Sincerely yours,

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Your Brooklyn neighborhoods Brokers and Agents

The City will now control 120 acres of Brooklyn's coastline, from Brooklyn Bridge Park to Red Hook with a plan to develop this land into housing, retail, green space and a modern, environmentally friendly port.

Most of this land is currently controlled by the Port Authority of New York and New Jersey. Past efforts to redevelop the Brooklyn waterfront have failed.

Red Hook is one of Brooklyn's gems in terms of its history and uniqueness, but it is not connected to public transit and it is isolated and run down.

What will make the difference this time? The difference is according to New York City Deputy Mayor, Maria Torres-Springer “the area will be controlled by one entity – New York City – rather than the City, State and the Port Authority”. Springer also says “New York City Mayor Eric Adams and Governor Kathy Hochul, both have the same goal and vision for this region”.

Part of Mayor Adams agenda is expanded maritime operations fit with “Blue Highways” plan to move more freight using New York waterways rather than its roads.

Step 1 Mayor Adams will secure $65M to fund the planning of this development and to stabilize the deteriorating pier infrastructure at the Brooklyn Marine Terminal. The New York City Economic Development Corporation will manage the Brooklyn project on behalf of the city.

Coastal resiliency will be a central part of the redevelopment plans. The Red Hook area was devastated by Hurricane Sandy and there is already a project underway to shield Red Hook from coastal flooding.

A $2B plan to expand green infrastructure will also contribute to efforts to mitigate flooding, limit combined sewer overflows and improve coastal water quality.

Mayor Adams in a statement said “For 20 years, skeptics thought this deal couldn't get done, but our administration prioritized the “Harbor of The Future” and now we have the potential to create thousands of new jobs, generate billions in economic impact and create a neighborhood on our shoreline that truly displays the promise of New York City”.

Governor Hochul says this announcement “marks the next great chapter to Brooklyn's storied waterfront” that will begin the long anticipated process of reimagining the Red Hook Piers as a modern maritime facility”.

To be continued...

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The building is located at 2971 Shell Road and was designed by Zproekt Architecture and developed by Rybak Development and Fouerti Realty.

The Bay has 187 rental apartments with one to three bedroom layouts with an average size of 992 square feet. The apartment interiors are by Molly Elizabeth Interior Design.

There is a 100 foot long side yard, indoor and outdoor amenities as well as 109 enclosed parking spaces on the ground floor.

The property boundaries are Neptune Avenue to the South, Shell Road to the West and West 6th Street to the East.

The apartments in the Bay have washer/dryers, Scavolini kitchens, central air heating and cooling, triple glazed windows and custom built in closets.

Amenities at the Bay span 40,000 square feet and include a rooftop terrace with a heated, Olympic sized salt water pool, private cabanas, an outdoor Pickle-ball court, an outdoor lounge and game area, an outdoor children's playground and indoor children's recreation room, BBQ grilling stations, a dog run, pet spa and a landscaped courtyard. Additional amenities include a fitness center, a co working lounge, a package room tempered on site storage, a bicycle storage room, multiple EV parking spots and a full time doorman.

The Bay's construction goal is for LEED Gold Certification, as well as Energy Star Certification. Construction is projected to be finished by this summer.

The F train at Neptune Avenue and West 6th Street is the closest subway stop to the building.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

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Your Brooklyn neighborhoods Realtors

Called the Coney, the $3B project proposal includes gaming, a 500 room hotel, a 92,000 square foot convention center, 70,000 square feet of retail with a dozen or more restaurants and a 2,500 seat concert venue.

There will also be more than acre of publicly accessible open space. Pedestrian walkways and skybridges would connect new and existing developments and would rise next to the Coney Island subway station for the D, N, F and Q trains.

According to Sean Gerrity, Saratoga Casino Holdings CEO “For 2 years we have been speaking with the residents of Coney Island and Southern Brooklyn about the need for a project that creates careers, supports local businesses and centers entertainment around the idea of a playground that is truly accessible to the people”. “We have heard time and time again that Coney Island needs a project that provides year round economic support while also lifting up the infrastructure in one of the most densely traveled areas of the community”.

Will Coney Island finally become the original seaside resort community year round destination?

The proposal has been backed by The Brooklyn Chamber of Commerce.

Other developers and entertainment companies have envisioned a casino in Times Square, however a new poll by the No Times Square Casino Coalition found 71% of registered voters who live in and around Times Square oppose the plans.

There are other proposals for a site next to the United Nations on Manhattan's East Side, a site near the Javitts Center, Hudson Yards, which would include a casino run by Wynn Resorts and a 20 acre site surrounding Citi Field in Queens in partnership with Hard Rock International.

Casino licenses cost $500M to obtain, only 3 licenses are coming available and won't be handed out by regulators until 2025.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

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We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Memorial Day is an American federal holiday, observed on the last Monday of May, honoring the service members who gave their all while serving in the U.S. Armed Forces.

Many Americans observe Memorial Day by visiting cemeteries and memorials, attending family gatherings or participating in parades.

Enjoy your weekend, and remember what this holiday is about.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The 4 Brooklyn districts are District 1 (Greenpoint-Williamsburg), District 2 (Brooklyn Heights, Dumbo, Downtown Brooklyn), District 8 (Crown Heights, Prospect Heights), and District 5 (East New York, Cypress Hills, New Lots, Starrett City).

In 2023, almost no housing was built in the Southern Brooklyn neighborhoods of Bay Ridge, Dyker Heights, Bath Beach, Bensonhurst and Coney Island. Housing in these neighborhoods are mostly low rise apartment buildings, built in the 1920's and 1930's as well as many single and 2 family homes.

The numbers speak for themselves:

2,200 housing units were built in District 1, just behind a Bronx neighborhood. District 1 also had a significant number of alterations/renovations done.

District 2 saw 1,600 new housing units built.

District 5 saw 794 new housing units built

District 8 saw 1,133 new housing units built.

The biggest projects in Brooklyn, New York were in Greenpoint Landing's 35 Commercial Street, in Downtown Brooklyn, The Brooklyn Tower, Brooklyn's 1st “supertall” residential skyscraper and the tallest building in the borough and in Prospect Heights, the 2 building project 595 Dean Street, part of the overall Pacific Park development.

According to the Department of City Planning, on the flip side of this good news, the 15,359 new homes that received building permits in 2023 is the lowest since 2016. The expiration of the 421A tax incentive program for builders, was the cause of the drop in permits.

The Mayor's City of YES for Housing Opportunity Proposal would enable more housing to be built in every neighborhood around the city.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

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We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

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Mother's Day is a celebration honoring the mother of the family, as well as motherhood, maternal bonds, and the influence of mothers in society. It is celebrated on various days in many parts of the world, most commonly in the months of March or May. In US Mother's Day is a holiday celebrated annually on the second Sunday of May.

It is important to celebrate all the moms for all the love and work they put in raising the kids, for all their sacrifices and patience, for their kindness and generosity and show them your appreciation!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Susi Yu and Travis Freehan's Bungalow Projects, a development firm, have purchased 145 Wolcott Street, a development site in Red Hook for $34M. Their plan is to create a film and TV production studio. The production facility will be 225,000 square feet and is to be built in 2027.

According to Freehan “ New York studios can be second or third rate compared to cities like Los Angeles, Atlanta, Vancouver or Toronto”.

There will be 4 sound stages built at the Red Hook studio, each 18,000 square feet with ceilings 40 feet high.

According to Yu “ A lot of film and TV studios in New York are often old warehouses without many of the modern production facilities that we are going to deliver”.

Joe Marconi, partner at Bain Capital, which supplied funding for this project to be built says “ There is a pronounced supply-demand imbalance for high quality infill purpose-built  sound stages in New York. We believe there will be enduring demand growth”.

The property seller in Red Hook, Four Points and 20 Lakes Holding had planned for a large mixed use project that never came to fruition.

Yu and Freehan with no prior Film and TV knowledge worked with Bain Capital and Bardos Capital, who are building a portfolio of Film studios in Los Angeles.

Government financial incentives NYCIDA and ICAP will benefit this New York project, which are meant to support the redevelopment of industrial property in New York. New York States generous tax credit for Film Production goes to individual production companies, feeding demand for studio space.

Earlier this year, Yu and Freehan's Bungalow purchased 201,203,215 and 225 Moore Street in East Williamsburg for $26.6M, where it plans to build a film studio of similar size to the studio in Red Hook. Bungalow also purchased 232 Siegel Street for $14.8M to build a Film and TV studio there as well.

Bungalow and Bain's goal is to build 1M square feet of studio space in New York. They are currently looking to buy 2 more sites where studios can be built.

Bungalow also has their eye to real estate development for companies that create media in other areas such as video games.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

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We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Mayor Eric Adams Green Economy Energy Action Plan will couple the private sector with city led actions to more than double green collar jobs by 2040. This EDC investment to create the Climate Innovation Hub is part of this plan.

This cutting edge hub is planned to expand New York City's Climate technology ecosystem, help climate technologists, entrepreneurs and others working on innovative solutions to combat climate change. 

The Climate Innovation Hub is part of the Harbor Climate Collaborative – a partnership linking climate tech businesses with programs at BAT & Sunset Park, The Brooklyn Navy Yard Development Corporation and the Trust for Governors Island.

The vision for the new hub is a 112,000 square foot space that will help new market innovators, small companies and larger companies to build prototype products, provide business support and conduct research and development.

Mayor Adams wants to secure New York City's position at the center of the green economy revolution and create 400,000 Green Economy jobs by 2040.

According to Andrew Kimball, NYC EDC President & CEO “There is no better location for the Climate Innovation Hub than the historic Brooklyn Army Terminal in Sunset Park, which will serve as a home for clean tech innovation and manufacturing”.

Dan Goldman, Congressman says “The Climate Innovation Hub will be at the cutting edge of transforming New York into the green energy capital of America – all in Sunset Park here in NY”.

According to Lindsay Greene, President & CEO of the Brooklyn Navy Yard Development Corporation “Initiatives like the forthcoming Climate Innovation Hub will meaningfully build on the city's existing climate solutions research and entrepreneurship ecosystem at Governors Island and here at the Brooklyn Navy Yard. We look forward to growing the sustainability industry together”.

To be continued...

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Happy Holidays to everybody! May you be blessed with happiness, prosperity,  good health and peace on the Holidays and always.

Park Slope's Fifth Avenue!

According to Time Out, an ultimate guide to all things New York City “this year we've picked Fifth Avenue in Park Slope Brooklyn as the city's coolest street”. Park Slope does have a family oriented feel, that means a high percentage walkability score, safe and something for everyone, which is very cool!

Park Slope's Fifth Avenue boundaries are Barclays Center to the North and Prospect Expressway to the South.

There is so much coolness to talk about here, from Revolutionary War history to local restaurants galore, mom & pop shops, museums, board game lounges and so much more!

Some of the trendy and beloved Indy shops are: Brooklyn Superhero Supply Store, Annie's Blue Ribbon Supply Store, Community Book Store and Life Boutique Thrift.

The list of great bars and restaurants is endless, and some of the oldies are Ginger's Bar, Good Judy, Miriam (my and my wife's favorite) and Stone Park Cafe.

Some of the notable newbie establishments are The Ripped Bodice Bookstore, Honeycomb Hi Fi Lounge, the Sip N Play board game cafe, Mexican food restaurant Miatzil and a celebration of India's yesteryear cuisine at Masalawala & Sons have become gem status eateries.

Fifth Avenue's coolest street status is in no small part made possible by it's business improvement district, Fifth Avenue Park Slope, which really sets it apart from many other BIDs. Fifth Avenue Park Slope is celebrating it's 15 year anniversary and is always throwing fun community events that get folks out on the street regularly to celebrate it's shops, restaurants and community.

The BID's job is to keep the street clean and support the over 500 merchants from Dean Street to 18th Street.

Go explore and enjoy Park Slope's Fifth Avenue, the coolest street in New York City!!!

Go Brooklyn!!!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

In Downtown Brooklyn, NY foundations are progressing at the site of a 25 story residential building located at 150 Lawrence Street. The building is being designed by JFA Architects and Engineers and being developed by Solomon Schwimmer. Schwimmer purchased the property for $23M. The building will be 250 feet tall, 82,366 square feet with 101 units averaging 734 square feet, 8,201 square feet of commercial space, a cellar level and a 32 foot long rear yard. Twin Group Associates is the general contractor for the project. Completion date is expected to be September 2025. The nearest subway is at Jay Street - Metro Tech with the A, C, F and R trains.

Still yet another project in Crown Heights is topping out and is located at 311 Eastern Parkway, between Classon and Franklin Avenues, near Prospect Park. This 8 story, 75 foot tall building has 5 condominium units. The building was designed by Bowerbird Architects and developed by Harpia, a Brooklyn based company. LXC Construction Inc and Augmented Construction are the contractors for the project. Each condo unit as private outdoor space. The layout of the building is two double height units on the top 2 floors, the middle 2 levels will have 2 bedroom apartments and a triplex townhouse with a private backyard will be at the lower level of the building. All units will be accessible by a keyed elevator. The project has a variety of eco friendly features such as Certified Passive House windows and Passive House ERV air purification systems. The nearest subway is Franklin Avenue-Medgar Evers College Station with the 2, 3, 4 and 5 trains.

Brooklyn Heights may see what is planned to be a 47 story residential tower project located at 205 Montague Street. Former CEO of Fortis Property Group, Jonathan Landau has filed an application with the Department of Buildings. Mr. Landau wants approval to build a 410,000 square foot mixed use building, 672 feet high with 136 apartments. West Hill Architects is the architect of record. Still to be determined whether the project will have condos or be a rental building. A condo project is more likely since there has been no replacement for the 421a tax abatement for rentals. The project may include the property at 195 Montague Street for a total of 525,000 square feet, with 285,000 square feet for residential use and 240,000 square feet for commercial space. Plans call for a restaurant on the 1st and 2nd floors and a below ground parking garage. Midtown Equities owns the site of the proposed tower to be built.

To be continued...

Go Brooklyn!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

Happy Holidays to everybody! May you be blessed with happiness, prosperity,  good health and peace on the Holidays and always.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Realtors

This is part 1 of 2 blogs summarizing a few projects planned and in various stages moving forward, in several Brooklyn, NY neighborhoods, including one amazing far south neighborhood, Brighton Beach.

Permits have just been filed for a 5 story, 53 foot tall, 16,479 square feet, 22 unit building located at 2954 Brighton 6th Street, between Neptune Avenue and Oceanview Avenue. The site is just steps from the Brighton Beach subway station where the B and Q lines are and 2 blocks from the beach and historic Coney Island boardwalk. Walkability for this location is very high.  There will be 9 open parking spaces and 3 enclosed parking spaces. The units will most likely be rentals, as the average unit will be 749 square feet. Beekman Towers Holdings LLC is the owner. Isaac & Stern Architects is the architect of record. The completion date of the project has not been posted yet.

Moving on from a relatively small project in Brighton Beach to 1 of 2 larger mixed use, residential and commercial projects underway in Crown Heights, there is a 17 story building just getting underway with foundation work located at 1034 – 1042 Atlantic Avenue, between Atlantic Avenue & Pacific Street, Classon and Grand Avenues. Planned is a 175 foot tall, 172,789 square foot, 193 unit (average 828 square feet per unit) rental building with 12,980 square feet of commercial space, a cellar level, a 62 foot long rear yard, 20 enclosed parking spaces and one loading berth. The developer is Elie Pariente of EMP Capital Group and the building was designed by Archimaera Architecture. Countrywide Builders is the general contractor. Winter 2025 is the estimated completion. The C line and shuttle trains at Franklin Avenue are the closest to the building.

From a Crown Heights project underway to a Crown Heights project that has topped out, located at 953 Dean Street, bound by Pacific Street to the north, Dean Street to the south and Classon Avenue to the west. This 234 unit (average 694 square feet per unit) rental building is 164,763 square feet, 95 feet tall, has a 42 foot long rear yard, 2,207 square feet of commercial space and 88 enclosed parking spaces. The building was designed by JFA Architects & Engineers and developed by Clipper Realty. Twin Group Associates is the general contractor. The upper levels of the building are set back and are surrounded by landscaped terraces. Completion expected for Summer 2025. The A & C lines at Franklin Avenue are the nearest subway to the building.

In Fort Greene's Brooklyn Academy of Music Historic District, developer Watermark Capital Group's Wolfe Landau plans to purchase the church property located at 144 Saint Felix Street. Landau recently signed a contract to purchase the church for $15M, which has 164,460 square feet of development rights. The church is seeking court approval for the sale. Closing is expected to be within 75 days of court approval of the sale.

Go Brooklyn!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

This amazing venue will officially reopen on March 27th after a multi million dollar renovation, that will seat 2,700 guests. After 60 years, live music is coming to the Paramount with 2024 performances booked and include Nora Jones, Mariah The Scientist, Busta Rhymes and more.

Preserved in the renovation of the space are the iconic Rococo ceilings with Baroque detail and the original handcrafted plaster statues. Updates in the renovation include a sloped floor for optimal viewing, seven bars with vintage liquors. The second level balcony has an exclusive member box and “Ella's VIP lounge”. There is a grand new stage with a cutting edge backstage facility that includes a game room, a gym and art installations from local artists. An original Mighty Wurlitzer organ, one of only two in operation was also part of the restoration project, will continue to be maintained by the New York Theatre Organ Society. The other organ is located in Radio City Music Hall.

The planning, design and construction took 5 years and 500 workers. The venue, when open will create more than 250 permanent jobs. David Codiga, President of Blueprint Studio, Live Nation's global design and development team said “We are honored that Long Island University chose Venue Nation to reimagine the next era of the Brooklyn Paramount. Elevating the artist and fan experience is our top priority as we develop live music venues and Brooklyn Paramount is a stunning space that will host many memorable shows”.

According to Brooklyn Borough President Antonio Reynoso “I applaud Live Nation for renovating this historic venue where New Yorkers can enjoy the hottest performers right here in Brooklyn. This reopening demonstrates that New York City does not need to reinvent the wheel to bring entertainment and good paying jobs to our city. I am glad to see the Brooklyn Paramount back and I look forward to seeing a performance there in the future!” 

Go Brooklyn!!! 

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did. 

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing. 

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Startup company Assembly OSM hopes to build high rise modular construction buildings faster, reduce the carbon footprint, have a more predictable cost and a higher quality buildings.

According to Assembly OSM CEO, Andrew Staniforth “It's hard to build in a pocket like this”. “This site is on top of a subway, in a landmarked district – there are a lot of constraints, that means classic modular doesn't work in a market like New York. What we focus on is how you reconcile customization and build tall”.

Assembly calls its construction method “post modular” since the structure is not put together on a single factory floor. Assembly OSM instead does the build out using a large network suppliers and manufacturers. Putting the pieces together takes place in their warehouse in Harrison New Jersey. Bathroom modules come from South Dakota, the floors are from St. Louis, Mo and the windows are from Poland.

According to Staniforth “this allows us the ability to maintain a efficient flow. We're just clipping into place rather than having to do construction under a roof which is the classic approach to modular construction”.

The layout of 147 Saint Felix Street is 2 duplex apartments, a garage and a community space. This project is a test for Assembly OSM's planned 15 story apartment building to be located at 247 117th Street in Harlem.

Assembly's system of building can go up to 30 stories and its methods take one year off the construction process.

According to Assembly's Chief Engineer Brian Sweeney” this was more expensive than if it was built as conventional, because we are trying out a bigger system”. Sweeney adds “this was our 1st time going through the Department of Building approvals, 1st time working with a general contractor, 1st time working with a different architect of record and an engineer of record”. “We wanted to get out of the prototype stage and get into a real world scenario”.

Investors have contributed more than $60M to further Assembly's vision.

The company was founded by twin brothers Bill and Chris Sharples, principals of Manhattan based ShoP Architects. Staniford comes from Forest City Ratner Companies and Sweeney also came from ShoP Architects.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Under the Gowanus Neighborhood Mixed Income Housing Development Plan, more than 5,300 apartments, including more than 1,400 affordable units will get built. Charney Companies and Tavros Holdings are the developers.

 The 421A Gowanus Program is being overseen by Empire State Development. Each of the 18 project sites will be considered and voted on by ESD Directors, followed by Public Authority Control Board review.

The site of the 550,000 square foot 320 and 340 Nevins Street project is on 2.3 acres fronting the Gowanus Canal. The site is part of the Gowanus Public Access Area near public transportation.

The development project was designed by Fogarty Finger Architects with design and landscape elements done by James Corner Field Operations.

The Nevins Street project and many others in Gowanus are being made more doable by the Department of Environmental Conservation's Brownfield Cleanup Program, which provides incentives for the revitalization of the former Brownfield sites.

According to New York State Senator Andrew Gournardes “This is about more than building housing. It's about building opportunities for families of all backgrounds to put down roots, live and thrive here”.

Assemblymember Jo Anne Simon (Downtown, Dumbo. Carroll Gardens and Park Slope) said “The urgency of New York's housing crisis is clear. I commend Governor Hochul for finding a creative way to secure new housing in Gowanus in a manner that provides the developer ample time for the comprehensive cleanup of these toxic brownfields”.

Katia Kelly of the Voice of Gowanus, a Brooklyn's neighborhood organization that opposes the Gowanus Redevelopment Plan said “Most of the Gowanus development touted by Governor Hochul is on land that remains polluted”. Voice of Gowanus continues to request that Governor Hochul remediate all inactive hazardous waste disposal sites, brownfields, hazardous substance releases and other documented contamination threats to the Gowanus community in strict compliance with State mandates”. “Voice of Gowanus has reminded Governor Hochul that she has a duty to safeguard our state's public health and environment by strictly enforcing applicable laws and regulatory requirements”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Presidents Day are alternative names for Washington’s Birthday, an official Federal holiday in the United States held annually on the third Monday of February.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

This project is not just any project! LCOR, a prominent investment and real estate development company has included the largest geothermal HVAC system built to date in New York City in 1515 Surf Avenue.

This 2 building residential waterfront complex has 463 units. The buildings will be both heated and cooled by this incredible geothermal system. The system is projected to reduce carbon emissions by more than 60% compared to other residential buildings with conventional heating and cooling systems which means lower energy bills for its residents.

1515 Surf Avenue will be certified as a “healthy building” by Fitwell a rating system. The healthy building concept encompasses the physical, psychological, and social health of people who live in them, with the focus on adequate ventilation, indoor air quality and natural lighting.

How geothermal systems work is steam is taken from deep underground and used to power generators that produce electricity. Steam is sent into the cooling towers and then goes back underground as water. Excess steam is used for heating.

Engineering News Record, a trade publication reports that geothermal was not originally in the plans for this project. According to Anthony Tortora, Senior Vice President of LCOR “that site was so large and so close to the ocean presented itself as a unique candidate for geothermal”.

The 2 towers, 26 and 16 stories tall, total 470,000 square feet and has a mix of 1 and 2 bedroom units and Penthouses. There are 324 units at market rate rental prices and 139 designated affordable. Lottery dates on the affordable units runs from January 12 thru March 20th.

1515 Surf Avenue was designed by Studio V Architecture. The complex also has 10,600 square feet of ground floor retail, 30,000 square feet of outdoor amenity space, including a heated pool with views of the ocean and the Manhattan skyline, a 20,000 square foot landscaped private garden, a fitness center, indoor basketball and handball courts, a children's playroom, beach lockers, a pet spa, a game room with a pool table and vintage arcade games, a variety of lounges, off street parking and more according to LCOR.

Anthony Tortora said “With it's geothermal system, best in class design and extensive amenities, 1515 Surf Avenue differentiates itself from other residential communities in New York City and represents the future of sustainable living”.

Go Coney Island!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Alloy Development bringing this technology to a 44 story residential tower, at 505 State Street in Downtown Brooklyn, NY is truly an astounding accomplishment. Building 441 apartments presented many challenges for Alloy's architects and engineers. This brilliant team had to re imagine every aspect of the buildings infrastructure such as sourcing high capacity electric lines to designing entirely electric HVAC systems.

Alloy has announced the launch of leasing of the 441 apartments. The apartment design is a 9-12 foot ceiling height, oak wood flooring and exposed concrete. Tenants can optimize their energy consumption with Smart Home technology through their smart phone.

The building amenities include generous green spaces, recreational areas, 24 hour attended lobby with a coffee shop, concierge, a mail and package room, bike storage room, laundry rooms, a pet wash, a Bodega by TULU, a 3,000 square foot gym, a Yoga Studio, grow room, play space for children, reservable lounge, screening room and a workspace.

The 42nd floor of the building includes a rooftop pool, terrace space and reservable cabanas with grills. Residents will also be able to reserve the sky lounge, kitchen and terrace space for entertaining.

Alloy CEO Jared Della Valle said “As the first all – electric skyscraper in New York City, 505 State Street is a transformative development which represents the future of sustainable living”. “Residents will not only be able to enjoy beautifully designed apartments with sweeping views of the city skyline, but will also critically benefit from the health, environmental and cost benefits that come with reducing your carbon footprint”. “We look forward to welcoming residents as we usher in a new era for green development in the heart of Downtown Brooklyn”.

Go Brooklyn!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The 140 year old bridge called America's Eiffel Tower by historian David McCullough was lit with 56 brilliant LED lights illuminating the bridges extraordinary towers. The cost of the new lighting system was $2.4M.

In 2024 New York City DOT will finish a 4 year, $300M project to thoroughly scrub harmful dirt and soot from every single stone on the bridge, restore the mortar between each stone and bring out the original light gray color.

DOT Commissioner Rodriguez says “One of New York City DOT's most cherished responsibilities is maintaining America's Eiffel Tower and the new lights will showcase it's beauty for decades to come”.

Landmarks Preservation Commission Chair Sarah Carroll says “The Brooklyn Bridge is one of New York's most cherished landmarks, recognized the world over as a symbol of our city”.

Brooklyn Bridge construction started in January 1869 and opened May 24, 1883 as the world's largest suspension bridge in the world. President Chester A. Arthur attended the bridge's grand opening and grand it was!

Today, an estimated 120,000 vehicles, 30,000 pedestrians and 4,000 cyclists use the bridge each day.

The truly transformative restoration work and newly efficient LED lighting system demonstrate New York City's powerful commitment to sustainability says LPC Chair Sarah Carroll.

“The Brooklyn Bridge has long been a beloved landmark for all to enjoy. May generations come to delight in the bridge's beauty said Assembly member Jo Anne Simon.

The Brooklyn Bridge is truly one of New York City's crown jewels!

Go Brooklyn!!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

According to Regina Myer, President of Downtown Brooklyn Partnership “We need more interesting places for people to work, so smaller businesses, Tech firms and design firms can really be attracted to working in Downtown Brooklyn”.

Jemb was originally planning for a residential tower but decided in response to the low commercial vacancy rates in Brooklyn pre covid to move in a different more innovative direction.

Metropolis magazine calls 1 Willoughby Square “The most striking High Rise to arrive in the borough in almost a century”. Open since 2021, 1 Willoughby Square holds the prestigious title of the tallest office building constructed in the borough since the 1929 Williamsburg Savings bank Building, which has been converted to residential use.

We wish 1 Willoughby Square continued success.

Go Brooklyn!

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Martin Luther King Jr. Day (officially Birthday of Martin Luther King, Jr., and sometimes referred to as MLK Day) is a federal holiday in the United States marking the birthday of Martin Luther King Jr. It is observed on the third Monday of January each year. King's birthday is January 15.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Wishing everyone, our clients, their families, friends and loved ones, our website visitors, our fellow Real Estate Brokers and Agents a joyful holiday season and very Happy New Year filled with peace, hope, happiness and love!

We are thankful for the privilege to serve our clients, and their continuous support and business! May 2024 be successful year for all of us!

Sincerely,

Accord Real Estate Group Team of brokers and agents

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Take a ride over to fabulous Prospect Heights and stop by Farm.One, located at 625 Bergen Street, Brooklyn 11238, just off Vanderbilt Avenue. You will experience Urban Agriculture at it's best, bringing a new take on Farm to Table. Farm.One is a 10,000 square foot vertical farm cultivated by the latest in hydroponic systems. In this space fresh herbs, microgreens and specialty greens grow year round! What started as a Michelin - Star quality chef's farm is now a vibrant urban neighborhood farm open to all.

Farm.One's vision goes well beyond growing fresh greens. This community focused farm seeks to nurture relationships, spark conversations, and engaging with a community that values authenticity, freshness and locality. Beyond the retail offerings, Farm.One hosts public and private events ranging from farm dinners and beverage pop ups to botanical tasting tours and classes.

Inspired by the craft brewing movement, Farm.One has introduced Craft Farming. The mantra of quality, sustainability, craftsmanship and engagement is apparent in everything at the farm. Just stroll through the lush aisles of Farm.One, pick a leaf and feel it's vigor and brightness and you'll be tasting the spirit of Brooklyn – local, authentic and continually evolving.

Local urban farming right in the heart of Brooklyn, NY.

It's so exciting to experience an ever evolving Brooklyn, from Prospect Heights to Gowanus, to Bed Stuy to Red Hook and so on....

Brooklyn got it all!

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Happy Festival of Lights!!!

Hanukkah is usually falls in November or December and it is observed for eight nights and days. Hanukkah 2023 begins on the evening of Thursday, December 7th and continues though Friday, December 15th.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Welcome, a Manhattan (NYC) based tech start-up has revolutionized home building with a tech enabled online platform to change the way people buy and personalize their dream home. Sounds too good to be true. Welcome is a tech enabled home building company that promises to get you from your dream home vision to move in with just a few clicks!

What's so rare and surprising is that your price is guaranteed from day one. No overages, no surprises – ever.

This never happens in my 35+ years of experience, brokering residential and commercial real estate transactions. These folks seem to have figured it out.

These talented group of people are the team at Digital Ocean,and their top drawer team of civil engineers, architects and designers. Welcome saw 500% growth last year and by streamlining and taking out the immense amount of time and anxiety of building a home, they are continuing their incredible upward trajectory.

According to Welcome CEO Alec Hartman “There's historically been a high preference for new homes and that was the default choice, because existing inventory just wasn't there”.

Welcome homes are not “modular homes” or “spec homes” they are built using the traditional, tried and true stick build construction, built 100% on site.

According to Douha El-Hely, Welcome's research manager “Welcome is highly focused on implementing technology advancements to standardize the building process”. “The use of AI and automation in various aspects of land vetting for home building will only progress. Welcome's future in every stage in the pipeline – making the land evaluation process take 3 seconds instead of the usual 3 hours”.

The steps in this process are:

1)Choose your land (building site) on an interactive map of pre vetted sites in desirable existing communities. You will see exactly where you can build and the estimated cost.

2)design your home using Welcome's digital design studio with 200,000 possible combinations of features, lifestyle based upgrades and more. Welcome has a design studio in Manhattan, located at 41 Madison Avenue on the 32nd floor where you can stop by and receive a free design consultation.

3)Make an offer for the land and an offer for the home construction. Once your offer is accepted the build price is guaranteed and won't change during construction.

This is so rare and such a welcomed practice, especially if you've had experience with contractors and the games and tricks and price fluctuations always upward to complete the job.

Welcome is a one stop shop, as they can also assist you in securing a mortgage if needed. Amazingly, you are done! Everything is handled from permits and approvals to pre construction. Your team updated you every step of the way. Track your build in real time by logging into your account. Pretty Amazing!

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Warehouses, how they are conceived and built is undergoing a revolution in the United States. The vision and design points toward no longer is there a need to have sprawling space on one floor. Multi-Story buildings with docks on more than one level is the future of warehouses. Several such facilities already exist or are in the process of being built.

According to a new report by Leslie Lanne, Senior Managing Director with JLL, 2023 is the 5 year anniversary of multi story warehouse development in the nation. This new category of buildings even has its own name “Urban Logistics”. Amazon has driven some of this growth in the U.S.

Multi- Story warehouses already exist in Asia and Europe. Prologis, one of the largest warehouse owners in the United States has built a 3 level, 590,000 square foot warehouse in a partnership with Craft Architects in Georgetown Crossroads in Seattle. According to Prologis, this warehouse has 62 dock doors on the 1st floor and 38 on the 2nd level. The 3rd level contains a maker's space (collaborative workspace). There are truck ramps to the 2nd and 3rd floors, served by forklift accessible freight elevators for lighter scale operations.

Lanne explains “The Multi staged parking levels allow for efficient streamlining of the queuing process of delivery trucks when using fleet vehicles for last mile delivery operations”.

In the Bronx, located at 2505 Bruckner Boulevard, the site of the former Whitestone Cinemas is where New York City's largest multi-story logistics facility was developed in 2022, having 1.07M square feet. Amazon has taken 568,543 square feet of the 1st level.

According to Lanne “There are now 5 existing multi-story buildings in the New York City boroughs and another 5 under construction.

Lanne's report also observes “While the U.S. Multi-Story and Urban Logistics landscape is currently very much in its infancy, there is tremendous potential in both established markets such as Boston, New York, Philadelphia, Mid Atlantic, Chicago, San Francisco as well as Los Angeles and in emerging markets such as Atlanta, Miami, Dallas, Houston and Seattle.

Efficient site planning and careful layout of the loading docks and parking are crucial. Multi-Story/ Urban Logistics developers face many challenges such as outdated zoning laws, scarcity of available land, financing and much higher construction costs.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Thanksgiving Day is a national holiday in the United States and Thanksgiving 2023 falls on Thursday, November 23. Thanksgiving has been celebrated nationally on and off since October 3, 1789 when George Washington issued his Thanksgiving proclamation. Originated as a harvest festival, and the centerpiece of Thanksgiving celebrations remains Thanksgiving dinner. Gathering together with the family and friends to enjoy a favorite dish and expressing gratitude for many things.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Thank you to all the brave men and women for your service and sacrifice to defend our freedom and way of life! We pay honor, we thank you, we are grateful each and every day.

Veterans Day (originally known as Armistice Day) is a federal holiday in the United States observed annually on November 11, for honoring military veterans, that is, persons who have served in the United States Armed Forces.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Businesses of all kinds have made their home in North Brooklyn, from a small workshop at the Navy Yard producing electric motorcycles from recycled materials to nearby in Dumbo where 180 designers at BIG NYC work on urban projects like how to rebuild the Brooklyn/ Queens Expressway (BQE.) Pretty much all of the designers live in Brooklyn, walking & biking to the office year round.

In Bed-Stuy a group of partners opened a wine store called Bed-Vyne and have thrived through the neighborhood’s trendy transformation and evolution. Bed-Vyne have added both a craft brewing space and a cocktail lounge.

These businesses are in one of the most thriving economic centers of the city post pandemic known loosely as North Brooklyn.

North Brooklyn's economic success was not planned, but happened because of the area’s historical strengths, many transportation options, high walkability factor and private developers as well as city leaders belief in this area.

David Lombino, managing director of Two Trees Management Company, which is the driving force responsible for the revival of Dumbo said “There are naturally occurring retirement communities. This is a naturally occurring economic community”.

North Brooklyn both before and after the pandemic has seen the highest rate of small businesses formation with the addition of 1,300 new firms, led by professional services, tech, consumer businesses and especially restaurants. This has made North Brooklyn into a hub of entrepreneurial ship according to a study released in May by the city Economic Development Corporation.

The success of North Brooklyn was not predestined. North Brooklyn had a rich history and a brand. As Randy Peters, President of the Brooklyn Chamber of Commerce said “People knew where Brooklyn was”. “What we needed to do was rebrand it and start talking about ourselves. Dangerous became edgy and now hip'.

Importantly, there was a huge amount of abandoned or underutilized industrial space that could be be repurposed as housing or live/work space to attract people.

The Brooklyn Navy Yard is a shining example of this transformation and evolution of North Brooklyn. Today, the Navy Yard is home to 550 industrial and commercial businesses, a third of which are owned by people of color and employ 11,000 people. The biggest tenant is the sprawling Steiner Studios film operation.

The rebirth of Dumbo was a product of one developer, David Walentas. In 1979 he bought all the buildings in the neighborhood, pushed for a rezoning to residential use and redeveloped most of the buildings into loft spaces and preserved 1.5M square feet of office space. More than 1,000 small companies fill these buildings along with 150 artist's studios.

Business Development Director at BIG NYC, Allison Wicks said “We wanted more space to collaborate and we looked all around and realized that 80% of our designers worked in Brooklyn.

In a report by Tech: NYC Tech jobs in Brooklyn jumped 42% to 14,000 between 2012 and 2021.

Blondel Pinnock, President of the Bedford Stuyvesant Restoration Corp, the local development group overseeing improvements in the neighborhood is planning a major transformation of it's home at Restoration Plaza with 2 large new buildings, one as high as 16 stories and 4 smaller ones to create 840,000 square feet of office and cultural space. Pinnock says “We want this space to be the center of Black wealth creation, black job creation and the tech center of this part of Brooklyn”.

The question for NYC is can the success of North Brooklyn be accomplished elsewhere in the city? The answer is yes! Look at the growth of Long Island City in Queens and the transformation of the South Bronx. The Bloomberg Administration 5 Borough economic strategy led the way for these changes to come about. The Adams Administration is moving to further these gains with an ambitious plan emphasizing Capital Projects outside of Manhattan.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

These amazing artists let people see their latest work, chat about their process of creating art or chatting about other stuff, grab a snack, enjoy a cup of wine, maybe buy a print or a painting and just have a grand old time roving around the neighborhood exploring this wonderful Art event.

The event was the 27th annual Gowanus Open Studios, organized by the esteemed Arts Gowanus.

Despite the horrific damage the area suffered last month from the rain, the event was well attended by lively crowds of art curious and by art enthusiasts from 13th Street to Pacific Street on both sides of the canal.

Local artist Lesley Kushner said “I've had this studio (on Nevins Street) for 30 years and been a part of Gowanus Open Studios since it started”. “I love it. It's a great way to get people to see your work and share the artistic atmosphere of the neighborhood”.

Newcomer to Open Studios, Photographer Rima Brindamour opened her studio just over a year ago on the corner of Bond and Union Streets. Rima says “I live in Carroll Gardens and I love the community”. “There are lots of artists already here, and this space was sitting vacant for 10 years before I leased it”. Being able to look around freely at normally private artist's spaces was a great experience. Some studios are all done up like Michiyo Ihara's studio on Union Street with a surprising number of plants. One artist Axelle DeStaing exhibited her work in her home in her lovely kitchen overlooking her backyard on Carroll Street. To add to the events atmosphere, there were outdoor murals at construction sites to check out.

Kira Silver, Textile Arts Center (TAC) Director of Operations said “This is our third Gowanus Open Studios”. “It's wonderful to have so many people walking through so many different studios in the neighborhood. Our doors are always open to the public for tours, but sometimes it can be intimidating to stop into a space when you have to introduce yourself at the front desk. So, events like this make it easy for people to walk in and say hi and see everyone there. So yeah, it's really great for everyone”.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Without any further ado, the 2023 residential block winner for 2023 is East 25th Street, between Clarendon Road and Avenue D! Judges chose from 190 entries from all over the borough, with both the greenery of each block and the community surrounding it. This year’s winner is the champion of both of those criteria.

What made East 25th Street the winning block, are the block's diverse front gardens and lush shady trees, the potted plants hanging from NO PARKING signs, the flower filled wheelbarrows and the array of information plaques educating the public on pollinators and urban gardening. According to BBG President Adrian Benepe “the block is more than a garden, however It's also a community”.

According to Carol Reneau, the co chair of the block's garden club “The theme for this year's competition, The Power of Trees, has each tree on the block named after a child who helped tend it”. “We try to include the young people on the block.” “This is how we build community- it's inter-generational. When young people can speak to you about plants, we are excited.”

East 25th Street has a great reputation for winning this award, with 1st place achieved in 2016, 2011, 2006 and 2004. This block clearly has a long tradition of urban gardening.

Reneau says “ It's about meeting people where they are. If they need help with watering, we're going to do the watering. If someone doesn't know anything about gardening and planting. we are going to help them garden and plant. That's how we get behind the whole community”.

Benepe says “Trees are essential in the fight against climate change.” Antonio Reynoso, Brooklyn Borough President said “It’s the difference of everyday people making change, making their block greener and contributing to the greater good: that's what's going to make the biggest difference”. “If everyone in Brooklyn contributes a little bit of their time, the difference we can make will be astounding”.

Congratulations to East 25th Street between Clarendon Road and Avenue D for their 2023 win as the Residential Greenest Block In Brooklyn!

Who will win next year? To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Back in 2012, when Two Trees purchased the proposed condo project for $185M, they decided to switch from a residential plan to Class A office space. Despite the challenges the NYC office market is facing with employees working a hybrid schedule of at home and in office, Two Trees feels confident. According to David Lombino, Two Trees spokesperson, “The presence of workers here 24/7 changes the character of the immediate neighborhood and makes it more lively. It allows us to attract different and better retail, not just dry cleaners, or drug stores, that in turn helps residential”.

According to Tucker Reed, Principal of the development firm Totem and former President of the Downtown Brooklyn Partnership “Usually tenants seeking quality office space of a few hundred thousand square feet or more are almost by necessity drawn to Manhattan”. “Other pockets of Downtown Brooklyn like Metro Tech or Industry City in Sunset Park or the Brooklyn Army Terminal, Brooklyn does not have many large footprints to offer large scale commercial tenants.”

The Refinery Building has a 150 year old exterior and is an entirely new building inside, designed by the Practice for Architecture and Urbanism. This spectacular building has a triple height atrium lobby, swaths of rich foliage and a rooftop glass dome with an unobstructed skyline view of Manhattan and in the rear an amazing view of Brooklyn.

The developer is planning for an open access event space that can be used by future tenants. Also planned are exceptional amenities and acclaimed ground floor retailers, as yet to be announced.

The Refinery offers a rare opportunity to have both a new office product with the historic character that may draw people to the Brooklyn waterfront.

Two Trees has a track record of catering to creative class companies in Dumbo with flexible lease terms and cultivating an entrepreneurial culture in their buildings.

Tucker Reed commented “If anyone can lease up the Refinery, it's Jed Walentas and the team at Two Trees”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Columbus Day is a federal holiday in the United States. It is officially celebrates the anniversary of Christopher Columbus's arrival in the Americas.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Atlantic Avenue Business Improvement District (AABID) has commissioned original artwork for new street banners to line the Brooklyn Boulevard. AABID was selected by New York City Small Business Services (NYC SBS) as a recipient of the Single District Small BID Support Grant, which funded the new street banners.

Mayor Eric Adams had committed to the “Rebuild, Renew, Reinvent: A Blueprint for New York City's Economic Recovery.”

AABID selected The Studio of Joshua Levi Bo, a Boerum Hill based design studio to handle the creative responsibilities of this commission entitled “Atlantic Avenue Alive”. Joshua Levi is a former Senior Art Director for the New York Times. Mr. Levi is a design professional who specializes in brand design with an impressive list of past clients such as Apple, Google, Harvard University, The IFC Center and the High Line.

On Friday, September 15th, the banners were installed throughout the district from the blocks and side streets of Atlantic Avenue between the BQE and 4th Avenue.

There are 5 banners, each of which was custom designed for Atlantic Avenue and highlights quintessential Atlantic Avenue moments such as street scene typical of businesses, visitors, residents, and culture of Atlantic Avenue such asa culturally diverse cuisine found along the commercial corridor.

According to Kelly Carroll, Executive Director of the Atlantic Avenue BID “Our new banners embody what makes Atlantic Avenue a one of a kind destination within NYC: We are colorful, dynamic, fun, diverse and beautifully chaotic place”. “Further, these new street banners signal the recovery and vibrancy of our neighborhoods in the period after the difficult years of the Covid 19 pandemic”.

According to Council Member Shahana Hanif “Brooklyn is home to so many talented artists and creators whose work deserves to be showcased and celebrated”.

Go Brooklyn!

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

The initiative is called Atlantic Ave Mixed-Use Plan and is a collaboration between Council member Crystal Hudson and the Department of City Planning.

Plans have been put forth for a 33,000 square foot lot located at 962 Pacific Street, which will have new affordable housing with family size apartments, space for light manufacturing uses and a 10,750 square foot early childhood education center.

HSN Realty Corp – a woman owned and run business is the team behind the project. The proposed project would have 150 residential units, of which a significant number of apartments would be affordable.

Michelle de la Uz, Executive Director of the Fifth Avenue Committee, a Brooklyn based housing non profit says of the 962 Pacific project “Fifth Avenue Committee and other advocates have long called for all communities to do their fair share in addressing the deepening affordable housing crisis, providing opportunities for families hoping to live or remain in the community they love. The community needs additional affordable housing and thriving commercial, light manufacturing and residential uses that reflect and support the communities’ vision and needs”.

Nadine Oelsner, President of HSN and owner of the 962 Pacific Street lot says “Through our involvement in the M Crown planning process since its inception and our recent participation in AAMUP, we understand the imperative that any new housing development also balances the need for preserving industrial and manufacturing uses in the area. We see the potential for 962 Pacific to achieve these major objectives prioritized by the community – creating affordable housing and preserving space for manufacturing uses”.

The proposal contains 19,000 square feet of light manufacturing space as well as 8,750 square feet for retail, like a bookstore or cafe' to provide more spots for the community to gather.

According to Leah Archibald, Executive Director of the Evergreen Exchange, an industrial advocacy organization working with HSN advising on the manufacturing uses in the project says “We are hopeful that this project can serve as a model for other innovative mixed-use developments”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Brokers and agents

The Midtown South Neighborhood Plan would update zoning rules to literally transform four areas in Midtown South into a vibrant, live/work community with affordable housing and good jobs. This plan would boost economic growth, support local businesses, and create jobs.

To facilitate office to residential conversions citywide the mayor said “zoning changes would allow office buildings constructed before 1990 to convert to housing. The current cutoff is 1961 or 1977 depending on the area”. Doing this would free up 136 million square feet of office space across the city to become apartments, however the decision remains with the property owner.

According to Maria Torres-Springer, Deputy Mayor for Housing, Economic Development and Workforce “Ir makes no sense to allow office buildings to sit empty while New Yorkers struggle to find housing. By enabling office conversions, New York will reinvigorate it's business districts and deliver new homes near jobs and transit”.

Mayor Adams has launched the new Office Conversion Accelerator Program led by experts from the city's Department of Buildings, Department of Housing Preservation and Development, the Board of Standards and Appeals and the Landmarks Preservation Commission to help building owners complete complex conversion projects.

Adams says “Well, it's time to get out of the way so we can turn these office cubicles into nice living quarters so we can address the housing crisis we have”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Some of the ways investors are working toward stabilizing and increasing property value is a focus on Environmental, Social and Governance factors (ESG). What this translates into is reducing asset risk by being environmentally responsible, sustainable and reducing hazards and future costs associated with climate change.

By enacting energy efficient measures, property owners can realize measurable and significant cost savings in the long term. For example, a more energy efficient building can reduce utility costs and lowers operational costs and in turn increase Net Operating Income for a higher property value.

Implementing energy efficient measures such as LED lighting, solar panels and a high efficiency HVAC system can reduce annual utility costs by as much as 30%.

Other potential benefits of having an energy efficient building are potentially increased rent from tenants willing to pay for a greener space and government incentives and rebates for making energy efficient improvements.

Green buildings are designed with more durable materials that can withstand harsh weather conditions better than traditional buildings and their maintenance can be more cost effective. The useful life of a building will also increase along with higher value.

Some other potential impacts of ESG measures on property value are: lower vacancy rates, attracting high quality tenants, higher rent, improved market perception, increased value through compliance with local laws to avoid material fines.

Yes, the initial costs of ESG measures can be high, but long term returns can far outweigh the initial costs.

It is important to note that ESG measures on property value are also influenced by the property's location, local laws and regulations and very importantly, market conditions.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Now kick back, relax, and enjoy your day off. You’ve earned it.

If you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can. 

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Celebrating Labor Day in honor and recognition of the American labor movement and the works and contributions of laborers to the development, achievements and contributions of laborers of the United States.

This project is being designed and developed by EDRE Development with Issac & Stern Architects along with DXA Studio. The 7 story condo building will consist of 38 units, 1 and 2 bedroom units, garden style residences, full floor homes and an exclusive set of penthouses. The general contractor on the project is Target Construction.

The units will have name brand fixtures and appliances and will come with either a balcony, terrace or private garden. Health and wellness amenities will include a plunge pool, sauna, meditation room and a fitness center. Other amenities will be a co working suite with a kitchen, private conference room, landscaped rooftop terrace w/ private cabanas, barbeque grills and communal spaces. Other amenities include a children's rock climbing wall, a children's makerspace with a large drawing table, a dog run, pet washing stations and on site residential parking for 20 vehicles for an additional fee. 110 North 1^st Street completion is planned for Winter of 2023.

Developer Gemini Rosemont has presented interior renderings for 171 North 1^st Street. This 57 unit condo building was designed by Fogarty Finger and will have a variety of indoor and outdoor amenity spaces.

Floor plans range from studios up to 2 bedroom layouts, plus three 4 bedroom townhouse style units with private outdoor space, double ceiling heights and access to private barbeque grill. All of the units will have wide plank flooring, name brand fixtures and appliances and spacious bathrooms.

Outdoor amenities include a spacious roof deck above the 7^th floor, equipped with an outdoor kitchen, barbeque grills and a large bar. There is also a zen garden, a fitness center, an outdoor lounge, co working space, a children's playroom and a pet washing station.

The building services also include an automated parking garage, designated bike storage and general storage space. This building looks great!

The third new residential project we are highlighting today is nearing completion and is located at 228 Berry Street (bound by North 1^st Street to the North, Grand Street to the South and Berry Street to the East). Designed by Fischer Rasmussen Whitefield Architect and developed by Berry North LLC. This 8 story, white brick, 50 unit residential rental building is 34,825 square feet in size for the apartments and 504 square feet of ground floor retail space.

There will be 25 below ground parking spaces and 25 open air parking spaces.

Bluesky Builders is the general contractor on this building. A list of residential amenities has not been disclosed yet.

The closest subway is the l train at the Bedford Avenue station to the Northeast of the building.

Completion date is planned for September 2023.

More to come...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

According to Jesse Schmidt, Senior Vice President of Sales at The Guarantor, ( a company servicing operators and renters) “We have been seeing this trend develop for years, the pandemic really accelerated the pace and made it a necessity for a lot of office owners to look for alternative ways to market their properties”.

According to recent research from the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC), the U.S. Needs to build 4.3M more apartments by 2035 to meet demand for rental housing.

Office conversions are being fueled by office vacancies near all time highs and a persistent shortage of housing.

Developers across the U.S. Are watching 25 Water Street in downtown New York City. This 1.1M square foot building represents the largest office to residential conversion in the country. If it succeeds, it could very well throw the doors open wide for other developers to follow.

Metro Loft Management is handling this landmark office to residential conversion project. They have partnered with GFP Real Estate to acquire the 22 story building. Work has begun gutting the interior and the plan calls for an addition of 10 floors for a total of 1,300 residential units.

These conversions are very complex projects and Metro Loft has seen great success over the past 25 years and has handled 5M square feet of conversions.

Schmidt of The Guarantors says “Metro Loft is one of the most prominent developers in the New York area that has successfully converted office buildings to residential”.

Metro Loft is also partnering with Silverstein Properties on the acquisition of 55 Broad Street, also in downtown NYC, with plans to convert the building to a 571 unit residential project.

According to Mitchell Wasser, Chief Marketing Officer at Metro Loft “ I would expect the amount of phone calls we're already getting to double and triple within the next 6 months, because there is going to be a lot more distressed assets in the B and C class office buildings”. Wasser also sees changes coming in zoning and building codes that will facilitate conversion projects as the cities and states see they need help finding solutions to fill empty buildings and optimize property taxes.

The Guarantor provides lease guarantees, security deposit replacements and renter's insurance products that help operators to accelerate lease ups by as much as 30%. Schmidt says “This is extremely helpful to developers in stabilizing their properties while protecting their income and assets”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

For example, the properties that are leasing are newer buildings with the best amenities. Lang says “ Industrial will face similar conditions in the future, as changing demands for parking, energy and environmental impact draw potential tenants away from older product”.

Some of the changes in the construction of future Industrial buildings may include stronger floor slabs, higher clear heights, greater roof load capacity for solar installations and most importantly, the need for more power to run the new truck loads coming in.

Change is definitely coming for Industrial and Logistics facilities and developers, architects and investors believe that it will arrive with electric vehicle production being supported by Federal incentives and regulations.

An April 2023 report from consulting firm McKinsey found that commercial operators are seeking to decarbonize their businesses.

According to Lang “Power is definitely the new parking, the single greatest amenity going forward in the logistics environment is going to be the availability of power”.

This will require developers to change the physical setup for parking areas and reconfiguring power ahead of time to make sure facilities can get enough electricity to charge vehicle fleets.

California recently passed legislation banning the purchase of gasoline powered vehicles after 2035 with New York following suit last Fall.

Lang says “ And where New York goes, New Jersey, Maryland, Connecticut and Massachusetts follow”.

Developers need to anticipate where future regulation is going long before it takes effect.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

11 Ocean Parkway, a 395,000 square foot, 13 story residential building has been designed by FXCollaborative and developed by JEMB realty. The building will have 375 rental units with an average of 798 square feet, 5,200 square feet of retail space, 18,800 square feet for a church, a cellar level and 106 enclosed parking spaces. Pavarini McGovern is the general contractor on the property.

11 Ocean Parkway is at the southwestern corner of Prospect park and bound by Ocean Parkway, Coney Island Avenue and Caton Place.

11 Ocean Parkway will feature an innovative mechanical system consisting of compact console heating and cooling equipment integrated into the facade. The system is designed for greater efficiency than typical wall through configuration and doesn't require space for outdoor units or extensive copper refrigerant piping.

The nearest subway station is the Fort Hamilton Parkway station to the west where the F and G trains stop.

Anticipated completion is August 2024.

The 2^nd Windsor Terrace project of note is 57 Caton Place, a 130,569 square foot, nine story residential building. The building will have 131 apartments with 14 studios, 55 one bedrooms, 57 two bedrooms, 5 three bedroom units 12,900 square feet of retail space and 74 below grade parking spaces. The project was designed by Gene Kaufman Architect and developed by an Aview affiliate. Jun's construction is the general contractor. 57 Caton Place is bound by Ocean Parkway to the north and Caton Place to the south.

The residential program for the building includes 98 market rent units and 33 reserved for affordable housing. Ammenities will include Co working space, a fitness center, a game room and an outdoor rooftop deck.

The closest subway is the Fort Hamilton Parkway station to the west across Prospect Expressway to get the F and G trains.

Financing for the project ($66M construction loan) was provided by Parkview Financial.

Anticipated completion is January 2024.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Topping the list for the most expensive home to find a buyer was unit 28A at 1 Clinton Street in Brooklyn Heights. The 134 residence building is from Hudson Companies. The residence at 28A is a 2,300 square foot condo with 4 bedrooms and 3 baths,triple exposures, oversized windows, an open kitchen and primary bedroom with a windowed bathroom for an asking price of $4.5M. Building amenities include a terrace, sky lounge, fitness center with a sauna, Yoga and full time staff. The 1 Clinton Street building rises on the site of the former Brooklyn Heights Library.

The 2^nd spot for the most expensive home to enter into contract last week was a 3,600 square foot, brownstone located at 645 Carroll Street in Park Slope featuring, 4 bedrooms and 3 bathrooms.

The breakdown for contracts was 4 Condos, 2 Co ops and 8 townhouses with an average asking price of $2.6M and an average price per square foot at $1,100.

Great week for luxury residential real estate in Brooklyn, New York.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Average rent in this sector also broke a record last year at $108.47 per square foot.

Manhattan's West End Labs came to market with very high asking rents. The biggest lease of the year came from King Street Properties 45-18 Court Square West in Long Island City. New York University took 92,000 square feet at the building known as Innolabs. New York University also took the 2^nd largest lease of the year for it's School of Medicine with 56,000 square feet at Deerfield Management's 345 Park Avenue South.

Life Sciences space increased year over year from 1.9M square feet to 2.7M square feet, mostly in Manhattan. In Long Island City, Longfellow Real Estate Partners property located at 43-10 23^rd Street delivered 200,000 square feet to the market last year.

Ready to use lab space remains limited for would be tenants. The city has 6.2% availability for such space which drops to only 2.9% availability for just Manhattan.

Yes, the last 2 years were a record for Life Sciences space leased, but there is still a big incentive to improve it's life sciences pipeline, as New York City competes with San Francisco and Boston for biotech companies.

GO NYC!!

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Coney Islanders are pushing for NYC Parks to use materials that are safe for both locals and the environment in the repair work.

Craig Hammerman, Co President of the Coney Islanders for an Ocean Ferry says “ Many residents aren't in favor of these remodels. He fears the Parks Dept will start a construction plan that doesn't reflect the needs and wants of the community”.

According to a Parks Department spokesperson, the $11.5M project was set to begin in Spring 2023, pending a successful bid from a contractor. The Department is currently evaluating a technical study to define the full extent and scope of the project. Once construction begins, it is expected to last 12 – 18 months.

The 100 year old boardwalk could also see upgrades made by the U.S. Army Corps of Engineers who are proposing to implement more flood protection measures as part of their NY NJ Harbor and Tributaries Coastal Storm Risk Management Study, a $52B flood resiliency plan.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Independence Day is a federal holiday in the United States commemorating the Declaration of Independence of the United States, on July 4, 1776. 

Have a great and safe 4th of July!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Broker

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Linden Street has a wonderful collection of distinctive row houses designed by Brooklyn architects, which represents a successful integration of late 19th century architectural styles and stands out as a worthy historic district. 

Deputy Mayor for Economic and workforce development, Maria Torres Springer said “I appreciate the work of the Landmarks Preservation Commission to celebrate our built heritage in all neighborhoods across the city and to designate Linden Street in Bushwick a historic district in recognition of it's exceptional architectural and cultural significance”. 

According to LPC Chair Sarah Carroll “The Linden Street historic district is the first historic district designated in Bushwick and advances the LPC equity goals”. “The district contains some of the most strikingly artistic row houses in Brooklyn and is truly meritorious for it's significant architectural high integrity and a strong sense of place”. “Today's action is very important as the agency continues to designate landmarks and historic districts in areas that are not as well represented by designations”. 

Bushwick's rich history is often overlooked according to Council member Jennifer Gutierrez “The designation of Linden Street as a New York City historic district is a triumph for the Bushwick community”. 

Bushwick is one of the 6 original Brooklyn towns chartered in 1661 during the Dutch Colonial period. 

The Linden Street Historic District consists of  a group of 32 brick and brownstone row houses developed by Samuel M. Meeker. Built between 1885 and 1901 the row houses were designed in the neo Grec style by Edward F. Gaylor, the Queen Anne style byFrank Keith Irving, the Renaissance Revival style by Benjamin Finksieper and an artful combination of the Romanesque Revival styles by Charles E. Palmer. 

Today, this magnificent block continues to reflect  it's strong harmonious, historic character and the diversity of Bushwick.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

According to Shanifah Rieara, MTA Acting Chief Customer Officer “It's great to see customer satisfaction continue to rise across the transit system, including subway, bus and commuter rail”. Rieara continued to say “These surveys tell us what customers care about – reliability, cleanliness, safety and how to make their journey as enjoyable as possible”.

The MTA's Fall 2022 survey showed another upswing in customer satisfaction compared to Spring 2022.

Metro North satisfaction ratings hit 89 percent, LIRR held strong at 81 percent, Access a ride rose 4 points to 65 percent, buses ticked up to 64 percent and subways jumped 6 points.

The most significant increases for the subway were on the G, 7, L and the Q line. Gains in personal safety and security, a key pandemic concern, was up an impressive 7 points in stations and 9 points in trains.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

The 90,000 square foot studio and production space has many natural backdrops such as buildings from the 1930's and 40's, rooftop gardens and magnificent views of the Manhattan skyline.

The 5 building complex was purchased in 2016 by CIM, LIVWRK and Kushner Companies from the Jehovah's Witnesses. Kushner Companies sold their stake in the buildings shortly thereafter.

With the onset of the Corona virus pandemic, filling the space with tenants was almost impossible for landlords.

CIM is positioning the studio/production space as an anchor for plans to turn the vacant development into “a hub of creativity and collaboration transforming the 5  building interconnected complex into an engaging vertical village”.

In 2018, CIM had to face off against the Buildings Department to be able to erect a new message of “Welcome” replacing the Watchtower sign, which replaced the even earlier “Squib” sign.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Unfortunately, there are unfinished projects in Gowanus and other Brooklyn neighborhoods that are in jeopardy since the 421a tax abatement expired. The extension of 421a to a 2026 deadline will not be enough time for these projects (which have a significant affordable housing component) to be completed. A further extension of 421a to 2030 is being sought. 

Today, there are 2 very exciting luxury residential projects moving forward in Gowanus.

Developer Domain Companies is topping out on the tallest of 2 buildings at 420 Carroll Street, a two tower residential project designed by FXCollaborative. The towers are a 20 story and a 15 story with 360 units of which 25% will be reserved for affordable housing. Part of the project will be 27,500 square feet of retail space and 7,700 square foot public promenade alongside the Gowanus Canal.

The project team also consists of Studio Mainer Interior Designer, Scape Landscape architect and Mega Contracting Group, the General Contractor.

Topping out of the 15 story tower should be done by early June. Envelope and Facade installation are the next phases of the project. There will be a gently sloped boardwalk lined with wooden railings that wrap around the southwestern corner of the property. Also featured are new trees, landscaping, ADA accessible ramps, stone seating, multi tiered lawns and retail frontage between the 2 buildings. Residential amenities include co working space, a lounge, multiple outdoor spaces, a fitness center, a children's playroom and bike storage. The R train is close by at Union Street and 4th Avenue.

This project is aiming for LEED Platinum certification. Completion is expected by Spring 2025.

The 2nd big project in Gowanus is being developed by Property Markets Group and designed by SLCE Architects.

 Two 21 story residential buildings at 267 Bond Street and 498 Sackett Street (bound by DeGraw Street to the North, Sackett Street to the South, The Gowanus Canal to the East and Bond Street to the West) will yield 594,000 square feet consisting of 517 residential units and 52,000 square feet of commercial space. Urban Atelier Group is the general contractor.

267 Bond Street is planned for 364,000 square feet, with 344 residential units and 32,000 square feet of commercial space. 498 Sackett Street is planned for 230,000 square feet with 173 residential units and approximately 20,000 square feet of commercial space.

A public waterfront esplanade is planned with raised garden beds, wooden tables and seating and landscaping along the eastern side of the Gowanus Canal. Amenities included will be a lobby restaurant/bar, a gym, co working lab and a sky pool with a deck.

The R train at Union Street and 4th Avenue is the closest subway stop.

Construction is planned to be finished by early 2025.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Memorial Day is an American federal holiday, observed on the last Monday of May, honoring the service members who gave their all while serving in the U.S. Armed Forces.

Many Americans observe Memorial Day by visiting cemeteries and memorials, attending family gatherings or participating in parades. Unfortunately Memorial Day of 2021 will not look the same as it did before the pandemic but many Americans are vaccinated allowing them to attent many events in person though many events will be still held virtually.

Enjoy your weekend, and remember what this holiday is about.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers

The New York City Parks Department has put out a (RFEI) Request for Expressions of Interest for the temporary and seasonal activation of Anchorage Plaza.

The Park's Department's goal is to hear the best ideas on how to use the space for events or amenities like a farmer's market, community garden or pickle ball fields.

The plaza consists of three sections: The Old Fulton Street yard, the Washington Street yard and Ash Alley, an alley below the Brooklyn Bridge connecting both yards.

Dumbo residents are happy that the yards are being transformed and reimagined into a space that the local community will use and enjoy! However, neighborhood residents are concerned that the site could be turned into a circus or yet another tourist attraction. This may be unavoidable because so many tourists already flock to Dumbo for the waterfront views, restaurants, shops and Brooklyn Bridge Park.

According to NYC Parks Commissioner Sue Donahue “With it's stunning views of the Brooklyn Bridge and the Manhattan skyline, Anchorage Plaza is a prime location for creative activations”.

According to Alexandria Sica, Executive Director orf the Dumbo Business Improvement District “From a junkyard playground, to a sculpture garden, to a magical cafe, it could be a gathering spot and anchor to the community”.

Dumbo stakeholders are justified in their concerns about having another tourist magnet in an area already overwhelmed with crowds. Especially during the warm weather months, Washington, Fulton and Main Street are jammed with pedestrians and traffic as thousands of tourists come to Brooklyn Bridge Park.

Doreen Gallo, President of the Dumbo Neighborhood Alliance (DNA) and the Cadman Plaza Conservancy, has been working to preserve Historic Dumbo and it's Belgium block streets. Gallo says “There should not be a whole development in front of one of the Wonders of The World”. “We have to make sure we don't construct anything blocking the view of the Brooklyn Bridge or turn it into a circus. Almost every other view of the Brooklyn Bridge in Dumbo is obstructed”.

Bill Stein, board member of the Fulton Ferry Landing Association says “Our position is that whatever is selected/designed for these spaces should be geared toward the local residents as opposed to tourists”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Wishing love and happiness every mom! You deserve to have a very happy Mother’s Day!

Mother's Day is a celebration honoring the mother of the family, as well as motherhood, maternal bonds, and the influence of mothers in society. It is celebrated on various days in many parts of the world, most commonly in the months of March or May.

It is important to celebrate all the moms for all the love and work they put in raising the kids, for all their sacrifices and patience, for their kindness and generosity and show them your appreciation!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Many of Brooklyn's neighborhoods have a rich history and a vibrant diversity of residents. Each neighborhood enjoys a strong sense of community and strong, local dedicated engagement. It is because of this dedicated local engagement that community boards are an important part of local governance in Brooklyn and beyond.

Myself, being a front row observer of how Brooklyn has evolved over the decades, it is plain to see the power and influence of community boards in shaping neighborhoods.

To clarify what a community board is and it's purpose, make note of the following:

A community board is a local government body composed of volunteers who represent their neighborhood and advise on issues affecting their community. Issues range from crucial land use, zoning and development proposals to traffic safety and public health concerns.

Community boards are an intermediary between city for a term agency and the residents of a specific neighborhood. By serving on a community board, residents have the opportunity to voice their concerns and advocate for change in their neighborhood.

Community boards have the power to hold public hearings and issue advisory opinions on matters that impact their communities. 

Each board has 50 members, half of whom are nominated by the city council members that represent the community board and half are nominated by the borough’s president. Appointments are made every 2 years and members serve as volunteers for a term of 2 years. Community board members can serve up to 4 consecutives 2 year terms. It is important to have a mix of experienced veterans and new members, ensuring continuity and allowing for fresh perspectives to be brought to the table.

A community board recommendation almost always has the power to sway elected officials and decision makers at levels of government by representing the views and concerns of their constituents. Community boards advocate for the interests of their neighborhoods. Neighborhoods need strong community boards!

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

MSCI estimates put the dollar volume of these assets at $2T + of debt maturities due by 2027. Refinancing is no longer the easy and cheap option that it was.

Interest rates are high and the Fed will not be cutting interest rates to provide easing any time soon.

The sudden bank failures in March, 2023 have caused banks to tighten lending standards.

A record of non bank, alternative private lenders with debt capital are waiting in the wings ready to take advantage of what will be a record amount of future distressed commercial real estate assets.

There are a lot of loans that Chase, HSBC and Wells Fargo just won't do.

According to Colliers research director of U.S. Capital markets, Aaron Jodka “distressed sales are likely to trend toward office properties in the near term and numerous properties are facing elevated vacancies and that makes it more difficult for owners to meet their debt service covenants.”

Multi Family assets which drove nearly half of all transactions volume in the last few quarters will also be an area of distress.

By dollar volume, distressed sales last peaked in 2011 at $36.2B.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Signature Bank had approximately $110B in assets and $88B in deposits prior to it's collapse.

Real Estate giant Newmark's Adam Spies, Doug Harmon, Dustin Stolly, Jordan Roeschlaub and Josh Howley, as FDIC representatives are leading the sale.

The bulk of Signature loans approximately $15B of $20B went for multi family properties, according to data from Maverick Real Estate Partners.

According to George Klett, former chairman of Signature Banks commercial real estate committee “many of the loans will be sold below market value because they were prior to the Feds interest rate increase.” The loans will be eventually bought at a discount.

Newmark now has the job of selling these Signature loans.

According to The Commercial Observer, commercial real estate expert journalists, multiple bids for the real estate loans came in below par.

Undoubtedly, with such a huge influx of assets for sale will reverberate in NYC and across the country for other loan valuations as investors look for deals. In a report 1st made by The Wall Street Journal the commercial property market is likely to see ripple effects from the sale of a loan book this large, at a time when property values are already being squeezed.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Happy Holidays to everybody! May you be blessed with happiness, prosperity,  good health and peace on the Holidays and always.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The asset classes leading the way were Multi Family and Industrial/Warehouse, with their best year.

Multi Family investors have been shifting their preferences to smaller (fewer than 6 units) free market buildings with no rent stabilization regulations. These transactions accounted for more than 50% of total Multi Family transactions in 2022. Most likely this trend will continue into the future. Investors want value add opportunities.

Development opportunities in Brooklyn reached 166 transactions and a dollar volume of $16B, both figures a healthy increase over 2021. The average price per square foot rose to $278, a 10% increase over 2021 and the highest average ever for Brooklyn.

Williamsburg and Gowanus were the top hot spots in Brooklyn followed by development site sales in Flatbush and Brighton Beach.

The Industrial/Warehouse asset class continues to be very strong, even post pandemic. Red Hook is the hot spot in the Industrial market due to it's centralized location. The gross price per square foot average reached $492, a 14% increase from 2021.

Commercial transactions in Brooklyn year over year declined 6%. However, what is driving this market are the mom and pop retail/mixed use property transactions in Williamsburg, Greenpoint and Downtown Brooklyn as well as Sheepshead Bay and Borough Park.

It should be an exciting 2023 for Brooklyn Investment Sales.

Go Brooklyn!

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The upzoning is part of the mayor's “Moonshot” goal of 500,000 new housing units. The “Get Stuff Done” plan is meant to speed up the land use planning process and make it less expensive for developers to build with changes to environmental review rules and Department of Building permitting requirements.

Adams says “We need more housing. We don't have enough housing to meet the need that we have”. “Safe, stable, affordable housing cannot be a privilege. It is the foundation of a prosperous society”.

The Atlantic Avenue mixed use rezoning plan will be located between Vanderbilt and Nostrand Avenues. Currently zoned M-1 for light manufacturing, the rezoning would increase available density to create a working neighborhood plan. The plan would also bring commercial and industrial jobs and infrastructure improvements to Crown Heights and to Bedford Stuyvesant.

According to Councilmember Crystal Hudson who represents the proposed rezoning area, “I am excited for the opportunity to engage our neighbors in the envisioning what this corridor could be”.

According to City Planning Director Dan Garodnick “We have worked on this issue carefully and thoughtfully in a way that we believe we can do it in partnership with the local councilmembers”. “We want to do this in a way where the community is seeing these sorts of changes, not feeling threatened by them but rather seeing them as an opportunity to re imagine a neighborhood, to do it in a way that respects community interests and creates new opportunities for the people that are there and who may be there in the future”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The site is currently home to Sunshine Lighting located at 744 Clinton Street. Samson will invest over $400M into the project. Hundreds of jobs for local folks will be created.

To be included in the development will be a new public park on the waterfront.

According to Sam Geiger, Co Founder and CEO of Samson Stages “This project is truly transformational, I am excited to begin construction.” “The new addition to Damson Stages will continue to make New York the center of TV and Film production”.

According to Charles Sobel, Co Founder of Samson Stages and Principal at Vanta Developers “New York has become a leader when it comes to the TV and Movie scene”. “To put it simply, the expansion of Samson Stages is the right project at the right time”.

Rich Barbadillo, partner at Samson Stages says “It's exciting to see how the industry has grown”. “This new facility will be a reflection of that excitement, will feature the newest technology and will give back to the Red Hook community”.

Samson Stages Red Hook studio is planned to be a vertical village, where the building structure is created from stacking of 8 stages according to BIG Bjarke Ingels Group, the building designer. In addition, there will be green terraces, parking within the building and Clinton Street will have a lobby entrance and a cafe. The incredible panorama of the Red Hook waterfront will have an intimate and unique space for the building users and the public.

GO RED HOOK!

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The mayor's office and the DOT have recognized the urgency of serious action needing to happen to save lives.

The Department of Transit has a plan for Grand Army Plaza and the multi directional traffic surrounding the Plaza around Park Slope and Downtown Brooklyn especially during peak hours. The Department of Traffic is considering transforming Grand Army Plaza into a car free zone.

The potential plan is to connect Grand Army Plaza to Vanderbilt and Underhill Avenues. According to Deputy Commissioner of the Department of Transit Eric Beaton “preventing traffic injuries around Grand Army Plaza requires serious structural changes to the area, there's only so far you can get with paint, planters and barricades”.

Recently, a prominent pastor and mother of three was struck and killed in Flatbush.

Tragically, Brooklyn, NY remains the highest in pedestrian deaths among the 5 boroughs, according to “Vision Zero” reports started under Mayor Adams and the NYCDOT. However, the most recent data from Vision Zero indicates a 38% decrease in pedestrian deaths at intersections of interest in Brooklyn.

The proposal for Grand Army Plaza would decrease the volume of cars in dangerous areas and restrict times that traffic can flow.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Presidents Day are alternative names for Washington’s Birthday, an official Federal holiday in the United States held annually on the third Monday of February.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Data from The Department of Buildings indicate that Brooklyn far outpaces the other boroughs in the number of permits issued for demolitions and the number of building stories to be demolished in each of the 2 last years.

In an analysis by The Real Deal real estate publication, more than 400 demolition permits were approved in Kings County last year. These 400+ demolition permits represented 900 stories of buildings to be demolished, a slightly lower number of permits than 2021. The other 4 boroughs saw permits fall as well, far more than Brooklyn.

The Northwestwern Brooklyn waterfront neighborhoods of Dumbo, Vinegar Hill, Downtown Brooklyn and Boerum Hill saw the most demolition activity with 127 stories set for demolition across 27 applications.

The 11 story Brooklyn Detention Center located at 275 Atlantic Avenue was the largest building to be demolished. A much larger complex will go up in it's place.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The $20M price tag for a new “innovation lab” is just a start. The mayor has future plans to invest in a hub providing workforce training and space for more industry startups.

According to mayor Adams “with a first in the nation incubator at The Brooklyn Navy Yard, startups right here in New York City transform the way we eat, build and protect our environment all while creating good paying jobs for New Yorkers and positioning the City's economy for the future”.

According to Andrew Kimball, the President and CEO of the city's Economic Development Corporation “sustainable biology is a game changing industry that will play a pivotal role in creating the sustainable materials, products and industries of the future while accelerating our transition to a zero waste economy”.

Satish Rao, the chief product officer at Newlab says:” We really think we can continue to leverage what New York brings to the table – people want to come here and work”.

The $20M initial investment from the city is part of a $1B commitment to the LifeSci New York City initiative originally launched in 2021 under former Mayor Bill Di Blasio.

One of the many hubs will focus on “materials innovation” an aspect of Biotechnology. Companies already working in this field are Algiknit and Tomtex.

Andrew Kimball is saying “Through this new initiative, New York City will build off years of progress to establish ourselves as a global leader in Life Sciences and cement ourselves as a leader in this new, rapidly expanding industry”.

The history is amazing and the future looks bright for The Brooklyn Navy Yard.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Half of these transactions went above the asking price, with the highest median asking price of $2.3M in Carroll Gardens, a long time favorite neighborhood for families and single alike. Carroll Gardens topped the list.

Brooklyn sellers couldn't be happier. According to Streeteasy data, Buyers in Brooklyn have limited options now.

Other neighborhoods that experienced bidding wars were Park Slope with 38% of homes that went above the asking price, Boerum Hill 33% and East Flatbush 32%.

Listings stayed on the market for far fewer days across these neighborhoods than other Brooklyn's neiborhoods.

Higher mortgage rates have drastically reduced the available pool of buyers who can still afford to buy in this market.  With a low inventory of properties on the market, sellers are still getting competitive offers as long as the price of their homes are in line with current comparable listings.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Martin Luther King Jr. Day (officially Birthday of Martin Luther King, Jr., and sometimes referred to as MLK Day) is a federal holiday in the United States marking the birthday of Martin Luther King Jr. It is observed on the third Monday of January each year. King's birthday is January 15.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The site was purchased for $110.8M from JZ Capital Partners & Stiles Properties, with a minority interest held by members of the former owner.

According to Melissa Roman Burch, Executive General Manager of New York Development at Lendlease “The acquisition of this significant waterfront site at 1 Java Street further demonstrates Lendlease’s prowess to unlock sites for development”. “By drawing upon our proven placemaking capabilities, Lendlease will transform this underutilized site into a vibrant mixed income and mixed use community and further build on our 40 year track record of construction, development and investment in New York City”.

The project vision is a spectacular 2 tower structure and will include over 800 residential rental units, with 30% designated as affordable housing under the Affordable New York Housing Program. There will be 13,000 square feet of neighborhood retail and 18,000 square feet of a public waterfront park. The project will include a reimagined waterfront esplanade connecting to the India Street Pier and NYC Water Ferry.

Lendlease and Aware Super are fully committed to the highest standard of sustainability outcomes and will target LEED Gold certification, WEDG Waterfront certification, Fitwell certification and ENERGY STAR certification. The building will use a geothermal ground source heat pump system utilizing geothermal energy for heat exchange instead of a traditional gas boiler heating and cooling the towers to minimize carbon emissions.

The project design team using WEDG guidelines, will create an accessible space to the waterfront for the community through outdoor spaces. Part of this vision is to embrace native birds and native plantings along the waterfront.

The project team is interested in having partnerships with local nonprofits for local hiring, including diverse, minority and underemployed communities.

Lendlease has secured a $360M construction loan to build 1 Java Street. Bank of America led a group of lenders on this loan.

Construction of this project began in June 2022 in order to qualify for the since expired 421A tax abatement, which requires the inclusion of affordable housing.

Lendlease has an estimated completion date of early 2026.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Hanukkah is usually falls in November or December and it is observed for eight nights and days. Hanukkah 2022 begins on the evening of Sunday, December 18 and ends on the evening of Monday, December 26.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Approximately 1 year ago on November 23rd 2021, the City Council did approve the area wide rezoning of Gowanus in an effort to shape a more positive future for this wonderful Brooklyn neighborhood. One of the many goals of the rezoning was to chip away at the housing shortage crisis we are in and the affordable housing shortage we are facing in New York.

Hopes were high and the potential was great, with approximately 8,500 units of new housing, 3,000 permanently affordable units, 6 acres of new open space along a cleaned up Gowanus Canal, new commercial and community space and thousands of jobs.

For a variety of reasons, such as changing market dynamics, lingering concerns and continued outbreaks of Covid 19, the expiration of the states tax incentive program, Affordable New York or 421A, skyrocketing interest rates, high construction and borrowing costs, the impact of this area wide rezoning effort has been severely dampened.

The ripple effect of these dampening factors are being felt in Brooklyn with Investment Sales down 36% from $3B to $1.95B in the 3rd Quarter of 2022 according to a TerraCRG market report.

Today, filed permits for Gowanus development sites that began construction before the 421A expiration (a key requirement to qualify for the tax incentive) shows approximately 4,000 units planned or already in the pipeline. The question is how many of these units will be built before the completion deadline in 2026?

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

What has changed is a real housing shortage and an affordability crisis. Politicians may not be such fervent critics of the real estate industry much longer if they want those serious housing problems solved.

For example, a number of City Council members have embraced new developments, even in cases where most of the units would not be affordable for working class New Yorkers.

Tiffany Caban, Councilwoman in Queens voted for a project to bring 1,300 apartments to her district saying “Not approving the project known as Hallets North, would risk letting the lot languish as a truck depot or parking lot for delivery vehicles which is wholly irresponsible, especially when we have a housing crisis”.

The real estate industry is lucrative and has an influential force in New York politics. Mayor Eric Adams is receptive to New York real estate developers needs. However, a lot of power is wielded by members of the City Council who decide on the fate of new projects with considerations that vary by neighborhood. Council members want concessions from developers that benefit their communities such as Parks and Community space.

There does seem to be political momentum behind the new housing movement. There is a shortage of homes available to a wide range of income levels, but mostly lacking for lower income New Yorkers.

According to Maria Tprres- Springer, Deputy Mayor for economic and work force development “If we postpone the types of actions and investments and courage that is needed to address our housing crisis, we're not just undermining the well being of families but we're undermining the recovery of our economy and long term recovery as a city”.

In Central Brooklyn, Council Woman Crystal Hudson had previously shut down a project in Prospect Heights but after taking time to review it she cast her vote to support two 17 story towers with more than 400 apartments. Ms. Hudson had to settle for 35% of the units rented at below market rates instead of 50% to get this deal done saying “We can only fight for the best project possible”.

According to Annemarie Gray, a former land use advisor for the city who is now the Executive Director of Open New York, a pro housing group “I really do think things are shifting, housing politics both in the city and the country are changing”.

Ms. Torres-Springer says “Broader neighborhood rezoning efforts that could make way for a larger number of new homes have yet to take shape”.

According to David Lombino, a Managing Director of Two Trees Management, a developer, “I think supply is needed on such a scale and I think folks aren't ready to see the scale that's required to fix the supply problem”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Thanksgiving has been celebrated nationally on and off since 1789. Originated as a harvest festival, and the centerpiece of Thanksgiving celebrations remains Thanksgiving dinner. Gathering together with the family and friends to enjoy a favorite dish and expressing gratitude for many things.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Fortis purchased the Cobble Hill sites for $240M as part of a deal with State University of New York to acquire the buildings that were previously part of the Long Island College Hospital campus.

Fortis pursued a rezoning and promised affordable housing in exchange for more units (density), but could not make it happen. Fortis dropped the rezoning plan and went with a plan to build market rate condominium apartments.

Fast forward to October/November 2022 and Fortis Property Group unable to bring this project to fruition and facing foreclosure, they avoided foreclosure by reaching a deal to sell the properties to their lender, Madison Realty Capital. The deal with Madison includes the sites at 350 Hicks Street and 91-95 Pacific Street.

Fortis had originally planned 3 developments south of Atlantic Avenue called River Park. On Pacific Street was to be the tallest building 2 River Park planned for 102 units and on Hicks Street, 1 River Park planned for 48 units.

Madison Realty Capital initiated the foreclosure on equity interests for 350 Hicks Street and 91-95 Pacific Street which satisfied debt in the amount of $47.7M. There is no clear answer as to why Fortis defaulted on the debt.

Madison will rework the plans for 350 Hicks Street and 91-95 Pacific Street.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Thank you to all the brave men and women for your service and sacrifice! We pay honor, we thank you, we are grateful each and every day.

Veterans Day (originally known as Armistice Day) is a federal holiday in the United States observed annually on November 11, for honoring military veterans, that is, persons who have served in the United States Armed Forces.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

This is not a competition, but rather the entries to the BKDA will be vetted by whether the work has fulfilled the requirements of the BKDA. After reviewing each work independently, the jurors will convene and deliberate. The new jurors include both Brooklyn residents and outside nominees.

The awards will be given to the projects with exemplary portrayal of the complex issues in the Brooklyn community such as health, safety and general welfare of the public in the frame of climate change and social inequity.

The new jurors are:

Arthur Liu RA (registered architect) is a Design Director in the New York office of Studio Gang and has previously taught at Parsons School of Design.

Stas Zakrewski FAIA, (Fellow of The American Institute of Architects) LEED AP, (Leadership in Energy and Environmental Design + Advanced knowledge of Green Building) CPHD, (Certified Passive House Designer/Consultant) is the founder and partner at ZH Architects in New York City. Mr. Zakrewski is a board member of the non profit New York Passive House Organization and is also an appointed member of the Advisory Board of New York City's Local Law 97.

Vivian Loftness FAIA, LEED AP, CPHD is the Paul Mellon Chair and a University Professor at Carnegie Mellon University and former head of the Carnegie Mellon School of Architecture. She is an internationally renowned researcher, author and educator with 40 years of experience in building science research for industry and government.

Diana Araujo is a senior Project Manager at the Van Allen Institute and an architect, preservationist with experience in design, urban planning and heritage management.

Dan Piselli AIA, LEED AP, CPHD is a Senior Associate and Director of Sustainability at FX Collaborative. He leads the visionary and implementation of environmentally responsible design strategies on all of the firm's wide ranging projects, from local to global and across multiple scales and building typologies.

The BKDA program seeks to highlight the borough of Brooklyn with its design community serving as a creative hub for innovation and its diverse neighborhoods as a dynamic network and unique urban fabric. Multiple entries within a particular typology may be eligible for an award.

The goal is to highlight outstanding projects by Brooklyn firms and exceptional design work within the borough, whatever form it may take.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

This blog will provide an update on the efforts of Brookfield Properties in this re-branding of Metro Tech/ Brooklyn Commons.

To refresh the public spaces of Brooklyn Commons, a courtyard of 110 honey locust trees is staying, the hard green metal benches, dim lamp post lighting and kitschy, over sized shrubs are going. In their place will be comfortable wooden benches, modern lighting and more natural looking plantings.

There had been Zumba classes, badminton, ice skating, movie nights, art exhibits and a pop up beer garden. These events were brought about by the pandemic and the need for expanded programming in the courtyard.

Moving in are Blank Street Coffee, Naya and Chinah restaurants.

The old Metro Tech Center was screaming for an update. City and business leaders have steadily seen the benefits of parks and plazas for health and the environment as well as adding economic value by attracting more companies, increasing foot traffic and luring workers back to the office.

A prime example of the benefit of green space is the very popular Domino Park created in 2018 by Two Trees Management, the developer. The $80M investment paid off according to David Lombino, Two Trees managing director saying “ The plan worked, the nearby buildings are fully leased with waiting lists”. “There is an unlimited demand for quality open space in New York City”.

Every other neighborhood surrounding Downtown Brooklyn, Fort Greene, Boerum Hill, Cobble Hill and Brooklyn Heights all flourished with an influx of young professionals and entrepreneurs. Brooklyn became HOT! But Metro Tech, not so much.

When Metro Tech entered Downtown Brooklyn in the 1980's the neighborhood had become rundown. Downtown Brooklyn emptied out at night and people went back to their neighborhoods.

According to Regina Myer, the President of The Downtown Brooklyn Partnership, an economic development group Metro Tech was built at a time when the idea of a rebirth of Downtown Brooklyn was a big risky idea”.

In 2004, a large scale rezoning of Downtown Brooklyn set off a residential building boom that transformed the neighborhood into a thriving 24-7 destination. Callie Haines says “we are giving people reasons to come here”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Brokers and Agents

For homes asking $2M or more, signed contracts last week were just 5 above the lowest week in 2022.

A few homes that did go to contract were a townhouse at 26 Varandah Place in Cobble Hill, asking $5.75M and at 30 Front Street in Dumbo, unit 21D in the Olympia Dumbo, asking n$4.4M.

In a monthly report for Douglas Elliman by the firm Miller Samuel, New signed contracts last month were down 20% to 30% across the board. According to Jonathan Miller, CEO of Miller Samuel “The way I think of the market is that activity is above normal levels, but it's down sharply from the frenzy of 2021”.

Mortgage rates have doubled, the stock market has nose dived and there is a lot of uncertainty in the market caused by the Federal Reserve. The results, contracts, listings and sales are down.

Miller also points out “Higher interest rates depress signings at the lower end of the market because mortgages become more expensive and their effect on the stock market depresses activity in the luxury sector”.

Listings are down and the inventory of homes for sale is low and buyers are competing for a small number of available homes.

Mortgage rates are at a 15 year high! The unrelenting rise in rates comes as the Federal Reserve keeps raising benchmark interest rates in an effort to tamp down inflation. Mortgage rates were at record lows at the start of the pandemic, which set the stage for a buying frenzy in the housing market. The good times did not last. Now, mortgage rates are crushing mortgage brokerage firms, forcing layoffs and firms are closing.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Happy Holidays to everybody and our best wishes to you! Be well!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

According to David Lombino, managing director of external affairs at Two Trees Management, a developer “In some ways, it's the last frontier of the waterfront and the potential to generate dense housing in a relatively near term”.

So far, over the last 2 decades housing has been winning the battle. The Bloomberg administration enacted 120 rezonings, which included a significant part of the Greenpoint/Williamsburg waterfront. As a result, 10,000 residential units were constructed and funding went towards the creation of Brooklyn Bridge Park.

The DeBlasio administration expanded the city's ferry service and added new piers which made waterfront real estate more valuable.

Unfortunately, some ambitious projects that were planned did not come to fruition. One example is that developers were unsuccessful at obtaining a rezoning for Industry City after widespread opposition in 2020.

Bradley Cohen, Senior Vice President of Industrial Logistics at brokerage CBRE asks “Is it better to have upscale or dense residential with beautiful views of The Statue of Liberty?” “At the same time, it still remains one of the best access points into and around Manhattan and continues to be one of the most highly sought after last miles into the city”.

The Port Authority of New York and New Jersey own 100 acres along the waterfront in Brooklyn and have given no indication it would sell its assets for redevelopment.

Developers will have to continue to dream of luxury towers a little longer.

According to Carolina Salguero, founder and President of Port Side New York who spoke with PANYNJ officials” The Port Authority is not interested in selling right now”. “The nature of freight has changed dramatically in a short period of time. They're trying to figure out how to handle freight as it hits their own facilities”.

As it stands now, City and State leaders have focused on Brooklyn's marine terminals and the surrounding area as a distribution hub for the rest of the city.

One extremely important reason for keeping the South Brooklyn waterfront from becoming a neighborhood of luxury rentals is lessons learned from the devastation that Super Storm Sandy wrought 10 years ago, destroying 69,000 homes along the coastline, costing the city $19B in damages.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

This data comes from Placer Lab, a California based analytics firm.

Analyzing the difference in retail domestic foot traffic in the two boroughs, Placer found that “while Manhattan is struggling to maintain its pre pandemic levels of domestic tourism, Brooklyn has resulted in year over year domestic tourism growth every month of the year in 2022”. The Placer Lab report states that “domestic tourism to Brooklyn skyrocketed between January 2022 and May 2022, with double digit increases in foot traffic every month, relative to 2019.

The likely reasons for this trend is Brooklyn's affordability compared to Manhattan, the dramatic increase in the number of hotels in Downtown Brooklyn, Williamsburg, Sunset Park and elsewhere, the endless choices of where to dine, to be entertained or to stop by for a drink in one or more of the hundreds Brooklyn's vibrant neighborhood watering holes.

To further illustrate this trend, retail foot traffic in Brooklyn was 17% below 2019 (pre pandemic), while Manhattan was a full 27% below 2019.

There is no doubt that this trend will persist as Brooklyn's amazing neighborhoods continue to evolve, innovate and embrace its amazing diversity.

Go Brooklyn!

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Celebrating Labor Day in honor and recognition of the American labor movement and the works and contributions of laborers to the development, achievements and contributions of laborers of the United States.

If you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can. 

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

According to Council member Lincoln Restler, “Public land is a treasure that we need to maximize for truly affordable housing”.

Restler's proposed bill would prevent the city from selling off land to private, for profit developers, unless no qualified non profit group makes an offer. Restler wants things to change here, so that New York City Community Land Trusts and non profit developers get the first crack at securing publicly owned land for truly affordable housing.

Restler says “Too often, the city has disposed of it's most valuable asset- it's land without securing sufficient affordable housing commitments from developers”. Restler continues “I think every progressive organization and elected official is in staunch agreement that 100% affordable housing on every publicly owned site is a prerequisite to considering development”.

The bill which was introduced by former council member Brad Lander in 2021 has 19 co sponsors so far.

The sale of The Bedford Union Armory, a city owned property in Brooklyn, NY to a private firm that achieved a rezoning approval to build 415 apartments in 2017 motivated Restler to re introduce the bill.

Apparently, there was strong resistance and opposition to a redevelopment of a city owned Armory that would primarily be for luxury housing.

Located in Restler's district in Greenpoint, the site of an MTA owned bus washing station at 40 Quay Street, was leased to Gotham developers for $39M this year. Gotham plans a 900 unit tower with only 25% of the units priced for low and middle income tenants.

An analysis done by Restler's office indicates that between 2015 and 2018 75% of all city owned sites that were redeveloped, went to for profit developers, at times for as little as $1.

This legislation, if it passes could be a tremendous boost for the city's community land trusts (CLT) movement, comprised of non profit organizations that purchase a property and retain the land while leasing apartments at permanently affordable rates. Residents can also purchase and maintain ownership of homes on CLT land but cannot resell for large profits, curbing the kind of speculation that has eroded affordable housing options in East New York and Central Brooklyn.

According to Will Spisak, senior program associate at New Economy Project, which coordinates with CLTs across the 5 boroughs “For decades the city has given precious land to for profit developers who build luxury housing and other projects that displace Black, brown and immigrant New Yorkers”.

This bill would further pose an obstacle to The Department of Housing Preservation and Development when it comes to selling property. HPD spokesperson William Fowler says “As the Housing Our Neighbors blueprint lays out, this administration is laser focused on making New York an affordable place to live, and supporting our  non profit partners in the process”. “We look forward to reviewing this bill and working with our partners in the council to accomplish our shared goals”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Brooklyn is divided into two “submarkets” North Brooklyn and South Brooklyn according to the CoStar firm, which provides information, analytics and marketing services to the commercial/industrial property industry. According to information provided by CoStar, the rentable building area (RBA) in North Brooklyn is 45,572,282 square feet distributed amongst 741 buildings. The availability rate is 3.9% and the average asking rent is $27.01 per square foot. The RBA in South Brooklyn is 27,849,718 square feet distributed amongst 340 buildings. The availability rate is 10.4% and the average asking rent is $19.41 per square foot.

The key Brooklyn neighborhoods with strong industrial real estate activity are Red Hook, East New York, East Williamsburg, the Brooklyn Navy Yard, the Brooklyn Army Terminal and Industry City.

On the sales end, with CRBE Investment Managements purchase of 640 Columbia Street in Red Hook for $330M, fully leased to Amazon and the Brooklyn Logistics Center purchase in East New York for $230M, also fully leased to Amazon, there is investor demand for fully leased warehouses in Brooklyn and the other outer boroughs.

Colliers report reveals that at $585.10 per square foot, the average sale price has increased 44.1 % year over year and has increased 54.5 % for a 5 year quarterly average of $378.78 per square foot.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Interestingly, the trend towards small neighborhood retail in Southern Brooklyn has had a strong comeback after being hit hard during the Pandemic, as opposed to higher priced neighborhoods in Northern Brooklyn and Downtown Brooklyn. Sheepshead Bay and Borough Park led the way here. A breakdown of the sales prices reveals that of the 51 commercial transactions in Brooklyn, 70% sold for less than $5M and 45% for less than $3M.

Investment sales in Brooklyn saw a 55% increase from the 1st half of 2021 to the 1st half of 2022. According to Sean Kelly, partner at Ariel Property Advisors “ Rent and vacancy rates have not only returned to pre pandemic levels but have surpassed them”.

Institutional buyers such as corporations, funds or LLCs have been aggressively pursuing Multi Family properties in Brooklyn. The 410 total Multi family transactions in the 1st half of 2022 were the most ever recorded in Brooklyn's history. For example, Avanath Capital Management's $314.5M purchase of 2 newly constructed buildings located at 38 6th Avenue with 303 units and 535 Carleton Avenue with 297 units, both in Prospect Heights.

The dollar volume of Industrial transactions jumped dramatically in 2022 over 2021 primarily because of the sale of 640 Columbia Street in Red Hook for $332M and 554-578 Cozine Avenue in East New York for $228.5M. Both properties were fully leased to Amazon and are the 2 largest Industrial/Warehouse transactions ever recorded in Brooklyn.

67% of the Development dollar volume occurred during the 1st qt of 2022 as developers rushed to get shovels in the ground before the June 15th expiration of the 421A tax abatement. The average price per buildable square foot increased to $280, the highest level on record in Brooklyn.

Go Brooklyn!

However, considering the extreme weather events NYC has been experiencing, some council members say that pace is not fast enough to replenish the city's tree canopy.

According to Shekar Krishnan, Chair of The Committee on Parks and Recreation “This is both a climate justice issue as well as  a racial justice issue”.  Krishnan explained that “Not only do we need much more tree canopy coverage in the city but this actually affects communities of color disproportionately in the sense that less tree canopy coverage directly translates into hotter temperatures on average for some neighborhoods in the city than others”.

Earlier this month, Mayor Eric Adams agreed to boost the budget for The Parks Department to $624.2M, the largest parks budget in the city's history. The budget added new positions and funding for community gardens and parks equity initiatives, but fall far short of the $1Billion Adams pledged to commit.

The Park's Department controls approximately 22,000 acres of the city's 42,656 acres of tree canopy according to Jennifer Greenfield, The Park's Department Deputy Commissioner for Environment and Planting. The rest of the city's canopy (47%) grows on a combination of private and public land parcels such as residential front and back yards, NYCHA campuses, Cemeteries, vacant land  and on public lands not managed by the NYC Parks.

Apparently we are falling short of what we really need according to Queens Council member Bob Holden, saying “ Planting 20,000 trees is a drop in the bucket, considering all the storms we've had in NYC”.

The facts are that 2 tornadoes in 2010 killed more than 40 trees and damaged more than 1,600 and Superstorm Sandy knocked over more than 8,500 trees and caused over $725M in damage to Parks. The concern is that more frequent and severe storms in the near future will result in even more damage to the tree stock, as global warming is expected to cause sea level rise and storms to intensify in the city.

According to Emily Nobel Maxwell of the Nature Conservancy “ We really need to be working more on our heat mitigation strategies and our urban forest plays a critical role”.

As far as the cost of planting trees, $3,600 a tree citywide, a 2018 report shows that Jersey City had paid only $500 for new trees! Let's have New Jersey plant our trees!

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Whether it's public art or advertisements, over the last few decades exciting street art has come to specific neighborhoods in Brooklyn, New York.

The pandemic pounded a lot of indoor art forms but undeterred talent poured onto the streets to celebrate what can be shared outside!

The 1st wall was painted in 2011 by The Bushwick Collective, Bushwick's very popular open air gallery which just celebrated and hosted its 11th annual block party on June 4th. Hundreds of visitors came to the block party as the public celebrated the vibrancy that outdoor art offers.

Joe Ficalora began The Bushwick Collective with the goal of reviving his neighborhood and he transformed Bushwick into a center of artwork and excitement. The Bushwick Collective has hosted renowned artists like French graffiti artist Blek Le Rat along with up and coming local Bushwick artists.

This year's block party hosted artists Ashley Hodder, Ligama, Robert Vargas, Carlito Skills and many more.

Cody James a Long Island based artist painted his 2nd wall for The Bushwick Collective this year. James said “I love that the walls are painted in styles that are all different”. “Not only do they bring more life to the community, but they can just bring more cultures together and more conversations”. James continues “Art is escapism for me”.  “Murals get the work out there that people would not see if they were confined to a gallery”. James also observes that “a large chunk of street art has shifted towards commissioned painted advertisements that take the form of murals across Brooklyn. This has benefited artists. Companies that sponsor an artist's work, even if it's a form of advertising, it's an opportunity and gives an artist a platform to use their creativity while satisfying their brand”.

On the corner of Manhattan Avenue and Kent Avenue in Greenpoint, The Market on Kent approached artist Estrella Munoz in the Spring. They wanted their storefront to have a mural inspired by the natural flora and fauna that thrived in Greenpoint hundreds of years ago.

Munoz, like James was excited for the opportunity to paint outside the gallery and she started doing storefronts and murals. Munoz was born and raised in Greenpoint says “I am 38 and I am discovering my place in the art world”.

The Greenpoint community has responded well to Munoz's art by saying “this greenery, these animals, this makes us feel good”. Munoz says “I really believe that artists are the history keepers and their messages should be shared”.

On the more corporate side of the current public art scene in Brooklyn there is Colossal Media, a company dedicated to hand painted outdoor artwork for both Commercial advertising and grand scale public paintings. They have experienced a big burst of creativity after the pandemic. Colossal Media has been in Brooklyn since it's inception in 2004 and has filled the streets of Williamsburg with dozens and dozens of enormous works. Ahmed Sayar, Senior V.P. Of Colossal Media says that their company is part of the movement to beautify neighborhoods and bring public art to the forefront. “ We would not be where we are today without Brooklyn” Sayar says.

Winter, Summer, Spring or Fall go explore the street art of Brooklyn. You will absolutely be astounded at the beauty that has been and continues to be created on her streets!

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

In the months ahead, challenges will mount as inflation, federal spending and an aging workforce will drive up costs, wages and the price of materials.

According to Associated Builders and Contractors Chief Economist, Anirban Basu, “As outlays from the infrastructure bill increase, construction spending will expand exacerbating the huge gap between supply and demand for labor”.

There are roughly 25% more unfilled construction positions than hires according to Nick Grandy a construction and real estate senior analyst at the consultancy RSM US. Grandy continued to say “I anticipate that we're going to see quite a bit of wage growth just because there is high demand for construction services and so few employees”.  This will result in projects that were predicted to cost $500M ending up costing $600M because you're going to need to pay people more.

Data clearly shows serious labor shortages at a time when significant the federal infrastructure bill adds to the industry demands with $550B in approved spending calling for an estimated 3.2M new workers.

According to The Bureau of Labor Statistics, there are approximately 500,000 job openings from an April 2022 projection, which is unlikely to be met by a rapidly aging workforce.

Twenty percent of workers 55 and older, 61 being the average retirement age translates into a fifth of the industry is at risk of leaving within the next 5 years.

The question, according to Grandy is “whether strategies by union and non union training programs can be implemented fast enough to develop a workforce that will achieve the benefits infrastructure funding is intended to foster”.

According to David Meade, executive director of Building Skills NY, “they had a committed workforce pre pandemic but Covid disrupted many training programs and it will take time to ramp things up again to where they were”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Independence Day is a federal holiday in the United States commemorating the Declaration of Independence of the United States, on July 4, 1776. 

Have a great and safe 4th of July!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Broker

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Each season on the trail reveals it's wonders, the brilliant colors of Fall and Winter and the glorious Springtime wildflowers all accessible from an easy to follow trail that meanders for about a mile across gently rolling terrain.

Along the trail there is a platform that juts out onto the water and provides an unobstructed view of the wetlands and additional walking trails across the salt marsh. Bleached white stones, waving grasses, puffy clouds against a brilliant blue summer sky and a 360 degree view over a stunning expanse! What more could you want in on a afternoon Summer stroll?

To the Birder's delight, according to the City's Audubon Society, Spring brings various migratory flyers such as Orioles and Cuckoos.  Summer brings a true variety of birds from Ospreys to Warblers to Terns, Autumn brings Raptors and Song birds and Winter Ducks and Loons and Song birds that do not head South for the Winter.

Adjacent to the Salt Marsh Nature Center is the designated Forever Wild Preserve to protect the trail and marshes. The City's Park Department opened this preserve in 2000 to provide an augmented experience for visitors.

For more information, go to www.nycparks.org/parks/marinepark/facilities/hikingtrails.

When you're done strolling and hiking the Nature Trail and salt marshes go to the Kings Plaza Shopping Mall just a few blocks away for some ice cream or a nice lunch!

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Enjoy!!

This development is unique in that it will offer 174 affordable apartments, 87 of which will have supportive services and 39,000 square feet of ground floor manufacturing space. The manufacturing space will be available for lease to approximately 10 to 12 local businesses which do light manufacturing.

Governor Kathy Hochul says “Quality affordable homes and good paying jobs are the foundation for successful and thriving communities and that is what we are delivering to Brownsville with this important investment”. Gov, Hochul continued to say “Bridge Rockaway is an innovative collaboration between state and non profit partners that will bolster our continued efforts to revitalize Central Brooklyn”.

The layout of the development will consist of two residential towers, one with 6 floor and another with 7 floors, separated by an 11,000 square foot garden.

35 households will have access to on site supportive services and rental subsidies. These homes will be reserved for seniors and veterans in need of supportive services.

An additional 52 apartments will be reserved for chronically homeless adults. On site services will be provided by The Bridge.

Residential amenities will include a ground floor community facility space, a continuously staffed lobby reception area and a community garden. Additional residential amenities will be on the 2nd floor, including social services offices, a computer room, a community kitchen, a multi purpose room, bicycle room, storage and laundry facilities.

The project is being financed by a mixture of tax exempt bonds, federal low income housing credits and grants from state agencies.

U.S. Rep Yvette Clarke said “New York has witnessed too many needless tragedies occur due to the affordable housing deficit that stifles families and communities, denying them the security of housing all people deserve.

Brooklyn Borough President Antonio Reynoso  said “There is possibly no better celebration than marking the beginning of a project that will bring many affordable housing units in Brooklyn, but The Bridge Rockaway development is going an extra step by also incorporating light manufacturing space that will create dozens of jobs”.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Well, as initially predicted, the numbers don't lie, a record breaker is in the making for Brooklyn's most expensive condo tower.

Developer Fortis Property Group's Olympia Dumbo located at 30 Front Street, while still under construction, so far this year, 18 of this spectacular building's 76 units have gone into contract. The average asking price per square foot is $2,458 or $400 more per square foot than apartments in the pricey Brooklyn Heights, Quay Tower located at 50 Bridge Park Drive, overlooking Brooklyn Bridge Park and Downtown Manhattan on the waterfront.

In 2021 Quay Tower set a record with the sale of a 3,553 square foot penthouse apartment for $10M.

The 18 units in contract at Olympia Dumbo add up to approximately $121M. The projected sellout of the building is $375M, not including the 2 floor through penthouse units priced at $15M each or $3,000 per square foot.

The current crown holder for Dumbo's most expensive condo unit is the 3,068 square foot penthouse at the 21 story Front & York condo building which sold for $16M in November.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Memorial Day is an American federal holiday, observed on the last Monday of May, honoring the service members who gave their all while serving in the U.S. Armed Forces.

Many Americans observe Memorial Day by visiting cemeteries and memorials, attending family gatherings or participating in parades. Unfortunately Memorial Day of 2021 will not look the same as it did before the pandemic but many Americans are vaccinated allowing them to attent many events in person though many events will be still held virtually.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Broker

Passive houses are built to be so energy efficient they require little outside energy for heating and cooling. Passive houses maintain a constant flow of fresh air ventilation. Amazingly, passive houses can reduce the energy needed for heating and cooling by up to 90%.

Currently, Passive Houses are being built in Brooklyn NY neighborhoods such as Brooklyn Heights, Carroll Gardens and Park Slope.

According to Michael Ingui of Baxt Ingui Architects, a Brooklyn Architecture firm “you would never really know that a lot of homes in Brooklyn Heights, Carroll Gardens and Park Slope are Passive Houses”.  Ingui continues “But when you walk inside you feel the difference as well as hear the difference. Passive homes are silent,” Baxt Ingui Architects, BIA, founded by Ben Baxt has worked on sustainable design for decades.

BIA recently completed a wonderful project in Brooklyn Heights located at 37 Sidney Place. The house is 7,040 square feet with 6 bedrooms and 9 baths. The house dates back to 1846 and was completely renovated over the course of several years.

Ingui says “The level of finish in the house is impeccable”. “With a passive house I get rid of my boiler, my radiators, my chimney flu and it's a much healthier building”. Ingui continues “On rare occasions when heat is needed, the house uses heat pumps which also function as small air conditioning units”.

The filtered fresh air system called an Energy Recovery Ventilators runs 24/7 at low velocity. This created 6 or 7 air changes a day, so air is not stagnant. You are breathing fresh air and feeling good.

Architect Maggie Hummel (from BIA) was project manager. According to Hummel “What makes this project so special is the attention to detail, coupled with the high performance of this house”. “When you walk in everything is high end, all the materials feel very luxurious. The layouts are spacious. Then you couple that with such a high performing building envelope, and it's quite impressive”.

The New York City Department of Housing Preservation and Development has completed several Passive House Projects, including Knickerbocher Commons in Bushwick. Knickerbocher Commons is New York State's first 100% affordable multi family building to be built and certified to the Passive Housing Standard.

According to Ingui” You can't get to Net Zero unless you build a better building that doesn't need much energy”. “It's a real game changer to think you can do that in New York City”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Wishing all the moms love and happiness you deserve and to have a very happy Mother’s Day!

Mother's Day is a celebration honoring the mother of the family, as well as motherhood, maternal bonds, and the influence of mothers in society. It is celebrated on various days in many parts of the world, most commonly in the months of March or May.

It is important to celebrate all the moms for all the love and work they put in raising the kids, for all their sacrifices and patience, for their kindness and generosity and show them your appreciation!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The Grand Prospect Hall was home to Brooklyn's oldest operating elevator!

Mr. Angelo Rigas of Gowanus Cubes was the buyer for this wonderful building as part of a 12 property assemblage with a sale price of $30M.

Although the Grand Prospect Hall was on the National Register of Historic Places since 1999, it had never been declared an official New York City Landmark.

Gowanus Cubes filed for a full demolition in August 2021, despite efforts to have the building landmarked.

The Grand Prospect Hall was built in the 1890's by German immigrant John Kolle. The original construction included restaurants, meeting halls, bowling alleys, a shooting range, a “bird cage” elevator, a roof garden and rare at that time electric lights. When the building burned down in 1900, Kolle immediately rebuilt it.

Over the years, Grand Prospect Hall hosted many functions with appearances by such stars as Fred Astaire, Sophie Tucker, Ginger Rogers and Lena Horne. The Grand Prospect Hall was also used as a film location for “The Cotton Club” , “Prizzi's Honor”, “ The Royal Tenenbaums”, “Gossip Girl'  and more.

Gowanus Cubes has filed permits for a 5 story, mixed use building. The Grand Prospect Hall, sadly is in the final stages of demolition.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Happy Holidays to everybody! May you be blessed with happiness, prosperity,  good health and peace on the Holidays and always.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

In the late 1980's – early 1990's when Metro Tech Center was built, New York City and Downtown Brooklyn were commercially depressed with businesses moving out of the city.

In the first few years after Forrest City Ratner and Polytechnic Institute built Metro Tech Center, the complex was gated off at night because the surrounding area was considered unsafe. Metro Tech was originally built as a self contained complex to accommodate back office and data processing space to large companies.

Brookfield Properties purchased Metro Tech in 2018 from Forrest City Ratner Trust, parent of Forrest City Ratner.

Today, Downtown Brooklyn has been transformed into a thriving commercial and residential district.

Brookfield Properties is re imagining Metro Tech as the now named Brooklyn Commons as a “vibrant hub for business, education, art, culture and community” says Callie Haines Executive V.P. And head of New York, Brookfield Properties. Haines continues by saying “Embracing and building upon the areas momentous growth, we are repositioning Brooklyn Commons as an integrated, open campus for the 21st century”.

The renaming will translate into a $50M investment by Brookfield to renovate several of the office buildings within the campus and upgrade the 3.6 acre public park space and build out year round arts and cultural events programming that is free and open to the public. The park renovations led by landscape architect James Corner will include enhanced outdoor seating, new lighting, new signage, new wayfinding, redesigned landscaping, seasonal gardens and plantings.

Arts Brookfield, an award winning cultural events program will curate free events including theatre performances, outdoor movie nights, exercise classes, a children's book fair, live music, an ice skating rink, holiday celebrations and food festivals.

Go Brooklyn Commons!

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

According to a Streeteasy January 2022 Market Report, “Brooklyn is still red hot”. The median asking price per square foot in Brooklyn in January, 2022 was $666 down 3.8% since last year. Generally speaking, the median asking price for a home in Brooklyn stayed flat since last year at the time of this report at $899,000, as a result of the drop in price per square foot for homes coming onto the market.

Economist Nancy Wu with Streeteasy says “larger homes are coming onto the market at lower”.

There were 658 contracts signed for homes in Brooklyn in January – 5.6% more than 2021 and there are so many buyers choosing Brooklyn homes because they are priced out of Manhattan and they are looking for more space.

The top 5 Brooklyn neighborhoods where buyers can get more space for their money are: Brownsville, Canarsie, East New York, Flatbush and Bergen Beach.

The top 5 neighborhoods where buyers can get the least amount of space for their money are: Cobble Hill, Dumbo, Brooklyn Heights, Downtown Brooklyn and Boerum Hill.

Brooklyn's housing inventory fell 16.1% compared to last year with 4,341 available homes for sale on the market and down from a record high 6,094 homes that were on the Brooklyn market in October 2020.

To put things in perspective, “The price per square foot in Manhattan is more than double Brooklyn” according to economist Wu.

Streeteasy's February 2022 Real Estate market Report indicates a heightened demand and fewer listings available on the market. This will make for a more competitive Spring market for home buyers. February shows an up tick of 3.2% in the median asking price, now at $928,000. Homes are coming off the market and going into contract fastest in Brooklyn at a median of 79 days. This is 25 days faster than last year.

Approximately 1,180 sellers listed their home for sale last month in Brooklyn, 23.6% more than last February!

An increase in inventory and the rise of home prices will bring even more inventory to the market and buyers will have a better opportunity to buy a home that they love and suits their needs.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

In addition, this Brown, Harris, Stevens market report indicates a price increase of 11% year to date for Condos and Coops.

An important contributing factor to the strength of the Brooklyn Condo market is the very active new development market.

Here's how the numbers breakdown:

Brooklyn saw 35% more sales than one year ago. There was a record number of signed contracts in the last 6 months of 2021 compared to any other 2nd half.

Park Slope/ South Slope/ Windsor Terrace average price was 18% higher than the 4th Quarter of 2020.

Williamsburg/ Greenpoint average price was 20% higher than the 4th Quarter of 2020.

Bay Ridge/ Dyker Heights/ Sunset Park strong new development activity pushed the average Condo price per square foot up 17% higher than a year ago.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Interestingly, Southern Brooklyn (South of Prospect Park going East to Flatlands, Marine Park, Canarsie and Bay Ridge.) Residential Real Estate has not only held its own but dominated sales activity in Brooklyn with a very strong market in private home sales and condo sales.

The numbers speak for themselves, from January 2021 to January 2022, the highest percentage of sales in Brooklyn was in South Brooklyn with 34%, 31% in Northwest Brooklyn, 19% in East Brooklyn and 16% in North Brooklyn.

The largest percentage of residential inventory belonged to houses at 45%, Condos at 34% and Co-ops at 22%.  Consistent with this trend of strong sales in South Brooklyn, the largest inventory of residential properties in Brooklyn belonged to South Brooklyn at 53%, 155 in East Brooklyn, 22% in Northwest Brooklyn and 10% in North Brooklyn.

According to Jeff Grandis, Broker and Co Owner of Accord Real Estate Group with over 35 years of experience as a Marketing and Sales consultant in Home Sales, while cyclical over the years, the single and multi-family home sales market has remained resilient and strong from one end of Brooklyn to the other.

An interesting point to note is that the growth in popularity of Condos vs Coops stems the form of ownership which gives condo owners more control over the physical space they purchase vs Coops in which the owner has shares in a corporation and a perspective buyer must submit an application to a Co op Board and be approved by that Board in order to consummate a purchase.

Happy Holidays to everybody and our best wishes to you! Be well!

Presidents Day are alternative names for Washington’s Birthday, an official Federal holiday in the United States held annually on the third Monday of February.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The City Council has finally passed a vast rezoning that will bring an estimated 8,200 new apartments, including 3,000 affordable units to an 82 block swath of Gowanus by 2035.

This rezoning approval signals a shift: Instead of redeveloping a low income community of color, the city is bringing new density to a more affluent neighborhood with the expectation the rezoning will bring more diversity to the area.

Developers have been buying up and land banking industrial properties in Gowanus over the last 10+ years set on transforming the Gowanus Canal area into the Venice of Brooklyn. The neighborhood will be reoriented toward the waterfront where plans for a new network of public esplanades, parkland and plaza space with shops and eateries along new streets will take shape. The rezoning of Gowanus will remake the neighborhood and the community.

Some big projects planned are:

Gowanus Green, the city's big affordable housing project planned as a 6 building residential complex built on a 5.6 acre vacant lot along the canal. All 950 apartments will have below market rents.

Developer Avery Hall has 2 projects planned: 272 Fourth Avenue and 204 Fourth Avenue. Both projects involve working with the MTA for Air Rights in exchange for building the city a new subway entrance with an elevator atop the Union Street R station.

473 President Street/ 514 Union Street. This is a Avery Hall's mega project that will require remediation before construction begins. The site is contaminated with tar coal from the canal. The finished product will include approximately 300 mixed income apartments and commercial spaxce for shops and offices.

404 Carroll Street a 360 unit mixed use development from Vorea Group will be among the tallest new projects in the neighborhood.

540 Degraw Street is another Vorea Group project where plans have been filed for an 11 story mixed use building including 268 apartments, retail and office space.

267 Bond Street is an assemblage that Property Markets Group has purchased which is the size of nearly 2 football fields on the western banks of the canal. No plans have been filed yet but PMG will most likely build apartments.

553 Sackett Street is part of  Domain Properties land banking industrial properties acquisitions near the canal from 2017. They will reshape these properties into hundreds of new apartments with retail shops.

Quinlan Development Group has a project planned at 340 4th Avenue.

Tavros Capital & Charney Companies have a project planned for 577 Union Street as well as a project planned for 251 Douglas Street.

The Orange Management Firm has filed plans for a project at 129 3rd Street.

Many more to come!

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The New York City Council has now approved this historic development to move forward because Two Trees has satisfied their commitment to creating mixed income housing, Senior housing, a YMCA and a public waterfront park.

Brooklyn Council member Stephen Levin reports that the final negotiated application would result in more affordable housing than previously announced. Levin says “the priority for me is affordable housing, in particular senior housing”. Levin further reports that developer Two Trees will now fund the construction of between 150 and 200 affordable housing units designed specifically for seniors to be built off site.

Two Trees River Ring Towers will include more than 1,000 new mixed income apartments. Two Trees will also commit $1,7M to community initiatives helping to retrofit existing buildings in the Williamsburg community, while also conducting a major study of open space planning in the community district to better connect any new parks to existing parks. A new park planned as part of the River Ring project includes a 6 acres park with in water access designed to be sustainable and resilient to storm surges. The River Ring Park will extend public space by connecting with adjacent Domino Park opened by Two Trees in 2018.

Jed Walentas, principal of Two Trees Management says “we will bring the same commitment and dedication to River Ring that we've brought to the Domino redevelopment and Domino Park”.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Martin Luther King Jr. Day (officially Birthday of Martin Luther King, Jr., and sometimes referred to as MLK Day) is a federal holiday in the United States marking the birthday of Martin Luther King Jr. It is observed on the third Monday of January each year. King's birthday is January 15.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.  

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Thanksgiving has been celebrated nationally on and off since 1789. Originated as a harvest festival, and the centerpiece of Thanksgiving celebrations remains Thanksgiving dinner. Gathering together with the family and friends to enjoy a favorite dish and expressing gratitude for many things.

Happy Thanksgiving!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Two important reasons for the growth are mass timber's sustainability and aesthetics. Developers are increasingly looking at the carbon footprint of a building and seeing that it is greatly improved using timber compared to a concrete and steel building. The benefits are environmental and sustainability. Wood is a renewable resource that holds atmospheric carbon.

According to Nina Mahjoub, a structural engineer and principal at Holmes, an international engineering company “wood material is a pre manufactured

material”. “We can be more efficient with timber by doing a lot off site”. “We can save on the construction schedule, which helps cost benefits and there is a little less risk on site”.

Eric Law, CEO and Co Founder of Urban Machine is developing technology to recycle lumber from construction. Law says “we found that construction waste is a huge amount”. A lot of waste comes with concrete projects. Urban Machine plans to work with fabricators which take the wood slabs and can be used for a plumbing duct for example and be assembled like Legos. Law says “It's a great solution for reducing time and cost because they are prefabricated components”. Law continues “there is no form work required like a concrete structure”.

Experts say that properly engineered mass timber produces naturally fire retardant lumber that chars rather than burns completely. The natural properties of wood protect itself to create that fire protection.

The consumer perception is that wood construction will burn. If it's done well, it will not be a greater risk than other type of building. It's just in people's heads more than anything else. Wood, Steel and Concrete all face an array of supply chain, location and demand factors. It depends on how far you are from the trees. Law says “some people now want to start paying a premium for wood construction because it's a beautiful product from an architectural standpoint and you get the green credits on top of that.

According to the prestigious real estate consulting and brokerage firm JLL's Esposito “people really like mass timber buildings. They like living and working there. It's a very compelling type of construction and design”.

To be continued...If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Thank you to all the brave men and women for your service and sacrifice! We pay honor, we thank you, we are grateful each and every day.

Veterans Day (originally known as Armistice Day) is a federal holiday in the United States observed annually on November 11, for honoring military veterans, that is, persons who have served in the United States Armed Forces.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Currently, the top Brooklyn neighborhoods showing resilience in sales and in pricing are Carroll Gardens, Dumbo, Park Slope, Windsor Terrace, Fort Greene, Clinton Hill, Vinegar Hill, Bed Stuy, Bushwick, Crown Heights, Williamsburg, Greenpoint, Flatbush, Midwood, Ditmas Park, Downtown Brooklyn, Bensonhurst, Borough Park, Bay Ridge, Dyker Heights, Sunset Park, Red Hook, Gowanus, Coney Island and Sheepshead Bay.

According to Bess Freedman, CEO of Brown, Harris, Stevens “The Brooklyn apartments amazing run continued into the 3rd quarter as both prices and sales reached new heights”. “A great accomplishment just a year and a half after the start of the pandemic”.

According to Jeff Grandis, Broker at Accord Real Estate Group “Brooklyn offers more lifestyle choices, in more wonderful neighborhoods and has become a 1st choice for New Yorkers looking to settle down and plant roots”.

Average sale prices increased 19%, passing the $1M mark for the 1st time. Of course, some neighborhoods performed better than others. For example, East Williamsburg, Greenpoint and Williamsburg prices skyrocketed to an average price 32% higher than a year ago for high end new developments. Other Brooklyn neighborhoods experiencing this lofty price increase are Ditmas Park, Flatbush, Prospect Lefferts Gardens, Midwood and Prospect Park South.

As a side note, to the wonderful real estate market we are experiencing now, existing home sales are up as mortgage rates tick up and buyers come off the sidelines.

According to the National Association of Realtors, existing home sales rose 7%, stronger than economists have been expecting.

According to Jeff Grandis at Accord Real Estate Group “Home sales from one end of Brooklyn to the other are strong with no end in sight”.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

According to The Real Deal, a real estate publication, these could be the priciest condos in Brooklyn at $3,000 per square foot.

A school will occupy the 4th and 5th floors of the building. There will be a pool and a tenant recreation area on the 6th floor and a roof terrace at the top.

The building stands on what a triangular shaped parking lot at the base of the Brooklyn Bridge and was owned by Jehovahs Witnesses. The site was purchased by developer Fortis in 2018 for $91.113M and is not a part of the Dumbo Historic District.

Hill West Architects are the architects on this unique project.

Fortis is also developing the former Long Island College Hospital in Cobble Hill.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate 

Brokers and Agents

Happy Holidays to everybody and our best wishes to you! Be well!

A Proclamation on Columbus Day, 2021

OCTOBER 08, 2021•PRESIDENTIAL ACTIONS

"NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, do hereby proclaim October 11, 2021, as Columbus Day.  I direct that the flag of the United States be displayed on all public buildings on the appointed day in honor of our diverse history and all who have contributed to shaping this Nation.

IN WITNESS WHEREOF, I have hereunto set my hand this eighth day of October, in the year of our Lord two thousand twenty-one, and of the Independence of the United States of America the two hundred and forty-sixth.

                              JOSEPH R. BIDEN JR."

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The Board's approval is based on the conditions that the project has two towers of mixed income housing, a YMCA and a waterfront park facing the East River.

In compliance with the Board's recommendations, Developer Two Trees will redesign the towers, a reduction of overall units and increasing the number of affordable apartments. David Lombino, managing director at Two Trees says “We appreciate the concerns expressed by the community board members and we are eager to follow through on our commitment a new model for Urban Waterfront Resiliency. The plan will have a 1st of it's kind public beach and in water park that will insulate the inland community from flooding. The Park will have 3 acres of public open space + 3 acres of protected in water access.

There will be approximately 1,050 new homes. The affordable housing component will be 60% and 40% AMI.

Very importantly, a storm resilient edge will be built to protect over 500 inland properties from flooding, A new custom YMCA, a commitment to local independent retail and Green technology that is designed to create independence from the City's sewer, storm water and electrical grid. 

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate 

Brokers and Agents

There will be a brand new park in Greenpoint, reconstruction of an Ocean Hill playground and the addition of a skate park, revitalizing a park in Downtown Brooklyn.

50 Kent in Bushwick Inlet Park is a brand new park coming to Northern Brooklyn, New York. This new $7.7M park will have new seating areas, gathering areas, expansive lawns, an overlook with beautiful views of the city and a water play area to keep cool in the summer months.

The community park in Ocean Hill named Callahan Kelly will undergo a reconstruction of the playground, spray shower, perimeter sidewalks, walls, basketball courts, adult fitness equipment and sitting areas. This project will include a brand new skate park. The project comes at a cost of more than $18M. The parks neighborhood boundaries are Fulton and Truxton Streets, Van Sinderen Avenue and the Eastern Parkway extension. The Park was named after 2 local soldiers who died in WW1, William E. Callahan and Edward E. Kelly.

The Susan Smith McKinny Stewart park reconstruction, formerly Bridge Park 2 was officially renamed to honor the Black experience. This project will cost $7.5M. The park will have a new adult area, multi purpose synthetic turf field, a performance stage, benches, fences, drainage, water supply and new plantings. Susan Smith McKinny was the 1st African American woman in New York State to receive a license to practice medicine. She was born, raised, lived and practiced in Brooklyn.

The renovation of LaGuardia playground in South Williamsburg is costing $4.76M and was funded by mayor Bill DiBlasio. The reconstruction will include a new children's play area, new play equipment, seating, landscaping and a spray shower.

NYC Parks Commissioner Mitchell J Silver says “Increasing access to open space and improving parkland is integral to building healthy communities”. “These 4 projects in Brooklyn reflect our effort to invest in our neighborhoods and offer New Yorkers much needed respite and recreation”.

Assembly member Emily Gallagher says” For years North Brooklyn has been asking: where's our park? “With this historic investment at 50 Kent, we're one giant step closer to making the full Bushwick Inlet Park a reality”.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate 

Brokers and Agents

Celebrating Labor Day in honor and recognition of the American labor movement and the works and contributions of laborers to the development, achievements and contributions of laborers of the United States.

This year the Labor Day coinsides with the Rosh Hashanah. Wishing everyone who celebrates Rosh Hashanah. to be healthy, happy and  have a sweet New Year of 5782!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

The absolutely magnificent and historic Grand Prospect Hall located in Park Slope, Brooklyn NY has been sold for $22.5M. Built in 1892, the Grand Prospect Hall and 11 adjacent properties sold as an assemblage for a total of $30M.

Michael and Alice Halkias had owned and operated the Hall since the 1980's. The GPH was added to the National Register of Historic Places in 1999. Mr. Halkias died of coronavirus complications early on during the pandemic.

The buyer for the 12 property assemblage is Angelo Rigas/ Gowanus Cubes. The 12 properties combined total 73,104 square feet of built space and are all located on Prospect Avenue between 5th and 6th Avenues. It has not been made public what Mr. Rigas plans to do with the Grand Prospect Hall and the other properties.

The Grand Prospect Hall was deemed to have social and cultural significance with it's late 19th century revival of French Renaissance style architecture and the theatre built and decorated in the tradition of America's great 19th century halls. 14 of the hall’s crystal chandeliers were from a Greenpoint church and another chandelier at the entrance to the Hall is from the original Loew's King Theatre.

There is a request from the Hall creators to have the Hall landmarked and evaluated by the Landmarks Preservation Commission. The Grand Prospect Hall, home to Brooklyn's oldest operation elevator is at risk of being demolished.

A petition to stop the demolition is being circulated and posted online by Toby Pannone who says “if the Department of Buildings chooses to approve this demolition, over a century of history will be gone”.

There is currently a partial stop work order on the property specifically for the Polish-American WW2 Veterans monument found on its side yard.

Updates to follow.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate 

Brokers and Agents

Approval of the developer's rezoning request would make way for housing assistance to 789 individuals and families currently at risk of housing instability. Workforce housing is housing for essential workers (teachers, grocery clerks, bus drivers, nurses, firefighters) union workers, community entrepreneurs and others who are rent burdened but don't qualify for “low income”/affordable housing.

960 Franklin Ave is currently zoned an R6A zoning district in which buildings are relatively uniform and low in height.

Continuum Company, the developer for this proposed project is seeking to rezone the area to R9D-C24 zone with no restrictions on building height.

Neighborhood residents are mainly concerned over the impact the rezoning of 960 Franklin Avenue will have on Sunlight coming to the Brooklyn Botanic Garden but in addition the possible change in the dynamic of the neighborhood.

Originally planned for 34 stories as a 1.2M square foot project, according to Ethan Lustig-Elgrably Director of Governmental and Community Affairs at Brooklyn Botanic Garden “ this represents an existential threat to the garden”. The “Fight For Sunlight” petition already has over 50,000 signatures and has a call to action for locals hoping to stop the city from allowing the structure to be built. Again, the main issue is the shadow the project would cast on the garden reducing sunlight by up to 4.5 hours, which would be detrimental to the garden's ecosystem and the way the garden operates.

Other potentially affected areas are the Jackie Robinson Playground, a popular spot for families and children and Medgar Evers College which has a large glass wall which thrives off the sun's beam to light it up.

Area residents have also objected to the aesthetics of the proposed structure which would tower over its surroundings and not fit in.

William Wallace IV, principal for Continuum Company has offered up a plan for a 17 story building instead of the proposed 34 stories. He says “the new building plan would change the 50/50, market rate/affordable rate ratio to 75/25 and in that 25% or 292 apartments there would be no middle class bracket for qualifications.

Continuum Company is now advertising a third possibility, a smaller building containing 518 Condominium apartments without any affordable housing which does not require any city approvals.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Here is a brief overview of a groundbreaking 2 phase project planned for Downtown Brooklyn, NY.

Alloy Development in partnership with the New York City Educational Construction Fund is beginning construction on New York City's 1st all electric residential tower, along with 2 public schools that will meet passive house compliance which have the highest standards of energy efficiency and indoor air quality.

There will be 2 phases to this project. Phase 1 of the Alloy Block is planned for a 44 story, 480 foot tall residential tower and will include 441 mixed income residences at 505 State Street and 30,000 square feet of retail at 100 Flatbush Ave. The adjacent public school will be located at 489 State Street. The new Khalil Gibran International Academy will be at 380 Schermerhorn Street. Both schools are being designed by Architecture Research Office.

All functions within the residential tower will run off electricity for example, hot water heating and HVAC will completely electric. The buildings operations will be carbon neutral upon completion.

When completed, Alloy Block will have 5 old and new buildings with 850 residences, including 200 permanently affordable apartments, 200,000 square feet of Class A office space, 40,000 square feet of retail space, the 2 schools and approximately 500 parking spaces for bikes. The 1st phase will be completed by 2024.

Phase 2 will include an approximately 840 foot tall residential, office and retail tower designed by Alloy that will also have a local cultural institution and 2 preserved historic structures.

According to Jared Della Valle, CEO and Founder of Alloy “we are committed to making Brooklyn beautiful, sustainable and equitable as the city recovers from the pandemic”. “we hope the Alloy Block will set the standard for progressive, thoughtful development”.

According to Alfred Trivilino, managing director Related Fund Management “sustainable, inclusive residences are the future of New York City and we are proud to invest in the Alloy Block's all electric, mixed income, mixed use tower that will become the new model for environmentally conscious urban living”.

The Alloy Block is in a prime location next to Atlantic Terminal, The Brooklyn Cultural District and Barclay Center.

The project's boundaries are Flatbush Avenue, Schermerhorn Street, Third Avenue and State Street.

Updates to follow...

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The three areas of potential development sites within the Navy Yard are Kent Avenue, Navy Street and Flushing Avenue. The Navy Street site is currently operating as a NYPD tow pound facility and the Flushing Avenue site has a warehouse owned and operated by the Department of Justice. These tenants would relocate if the rezoning is approved.

Some details of the possible development projects on these sites are:

On Kent Avenue, three buildings would be built with a 7 story base and a 9 story base and a 13 story tower on top. These buildings would be approximately 1,825,011 gross square feet of Industrial space, 436,624 gross square feet of Commercial (both office and retail) space and 250,000 gross square feet of Community facility (Academic) space. Open space would be included along Barge Basin next to the planned 23 story development at 500 Kent Avenue.

At the Navy Street site 2 buildings are planned, one 8 stories tall and the other 20 stories tall (7 story base topped with a 13 story tower). The combined gross square footage for those buildings would be 458,590 gross square feet of Industrial space, 172,617 gross square feet of Commercial space and 250,000 gross square feet of Community facility (Academic & Museum) space.

Proposed on the Flushing Avenue site would be 2 buildings, each 16 stories tall. They would have a combined 773,170 gross square feet of Industrial space, 225,950 gross square feet of Commercial space for a Health Club and 250,000 gross square feet of Community facility space.

The Brooklyn Navy yard had planned to develop these three sites as part of its 30 year master plan released in 2018.

According to Department of City Planning Chairwoman Marisa Lago “I couldn't be more excited about this project”. “This is exactly the kind of project the city needs as part of it's recovery from the pandemic”.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Independence Day is a federal holiday in the United States commemorating the Declaration of Independence of the United States, on July 4, 1776. 

Have a great and safe 4th of July!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Broker

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The Acme factory will be a 4 story approximately 95,300 square foot fish smoking and packing plant. There will be an adjacent 454,600 square foot commercial development with plenty of natural light, open workspaces and wonderful unobstructed water and Manhattan views. The project will also have 33,800 square feet of ground floor retail space. The project will also feature a pedestrian gateway for the Greenpoint and Williamsburg communities linking McCarren Park and the future Bushwick Inlet Park by adding ½ acre of tree lined open space.

The project named 10 Wythe is a collaboration between Rubenstein Partners the developer and Gensler the architectural firm which worked on nearby 25 Kent office and manufacturing building. The name 10 Wythe comes from it's 3 acre location on the block bounded by Wythe Avenue, Gem Street, Banker Street and Meserole Avenue.

Adam Caslow co CEO and 4th generation owner of Acme Smoked Fish says “from it's skilled workforce to it's vibrant culture being in Brooklyn has always been central to the company's success and we're thrilled to now have the opportunity to not only remain here in the borough but to also expand our operations as we continue to grow with the neighborhood, we've called home for generations”.

The project has the approval of community groups, labor advocates, non profit organizations and economic development entities.

According to Leah Archibald Executive Director of Evergreen Exchange, North Brooklyn's leading industrial and manufacturing advocate “this project is the gold standard for how we can preserve and grow industrial use in the 21st century economy while growing economic equity locally”. According to Randy Peers, President and CEO of the Brooklyn Chamber of Commerce, the borough's leading economic development and small business advocate “approving this plan is good for driving business in Brooklyn and creating economic opportunities that benefit the community, plain and simple”.

Acme sponsors a weekly “Fish Friday” program in which consumers can order a selection of the company's smoke fish and then pick it up at a “curbside pickup” arrangement at Acme's current headquarters on Gem Street, also in Greenpoint.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

There will be an affordable housing component to the project comprised of 236 units which will go to families earning 60% of the area median income (AMI) or $68,000 per year for a family of 4.

The towers will rise to 49 and 64 stories. The 400,000 square foot development site stretches from North 1st to North 3rd Streets and between River Street and the East River. It is one block away from the Two Trees other Williamsburg project the redevelopment of the Dominoe Sugar Refinery properties.

The River Rings project public waterfront will connect with Domino Park which stretches along the waterfront for a few blocks.

Two Trees will need a slew of zoning changes for the project to move forward. The property currently zoned for manufacturing uses would need to be rezoned for high rise mixed use development.

Local City Council members will have final say over the project. If approved the project will begin construction end 2023 and be completed by 2027.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Memorial Day is an American holiday, observed on the last Monday of May, honoring the service members who gave their all while serving in the U.S. Armed Forces.

Many Americans observe Memorial Day by visiting cemeteries and memorials, attending family gatherings or participating in parades. Unfortunately Memorial Day of 2021 will not look the same as it did before the pandemic but many Americans are vaccinated allowing them to attent many events in person though many events will be still held virtually.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Broker

50 Kent in Bushwick Inlet park is a brand new park coming to the neighborhood. The $7.7M project will include amenities for passive and active recreation such as new seating areas, gathering area, expansive lawns and an overlook with beautiful views of the city. There will also be water play amenities to keep cool during the summer months. North Brooklyn has been asking for years, where is our park? The long awaited Brooklyn Inlet Park is about to happen.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Wishing all the moms calm and relaxing Mother’s Day!

Mother's Day is a celebration honoring the mother of the family, as well as motherhood, maternal bonds, and the influence of mothers in society. It is celebrated on various days in many parts of the world, most commonly in the months of March or May.

It is important to celebrate all the moms for all the love and work they put in raising the kids, for all their sacrifices and patience, for their kindness and generosity and show them your appreciation!

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

This sounds simple enough but the transaction is structured with non negotiable time frames and rules to be adhered to. For example, the 1031 exchange must be handled by a disinterested party such as a Title company.  A title company is considered to be a qualified intermediary. A qualified intermediary plays an essential role in the client's 1031 exchange. A qualified intermediary is also known as the facilitator and accommodator. The intermediary enters into an agreement with the seller and all monies from the sale go through the intermediary as well as all the information on the property you are buying in the exchange.

Different companies handling 1031 exchange transactions function in different ways but the company must be a good match for your transaction. Do your due diligence! The importance of choosing the right qualified intermediary cannot be overstated. The company you choose must have the necessary insurance, financial backing and be licensed and bonded. Large title companies work well in these type transactions. The intermediary must open a segregated account in the seller's name where the monies are safely held. Specific times and dates have to be followed for the exchange to be recognized. For example, the formal process of identifying exchange properties must be by midnight at 45 calendar days from the day you sell and must be submitted in writing to authorized persons. The information on the property must include the legal description, address and % ownership. There is a total of 180 days from start to finish to acquire a replacement property and close. The attorneys and CPA's involved in the exchange must be clear on the closing date and that this is a 1031 exchange transaction. A residential property can be exchanged for a commercial property or be invested in a passive investment via for example Delaware Statuary Trust. A seller can identify up to 3 replacement properties. A seller must know what all of their options are for this exchange. This type exchange is also known as a forward exchange.

Some of the asset classes that qualify for a 1031 exchange are:

Triple net buildings, multi family complexes, industrial center, rental houses, shopping centers, air rights and Delaware Statuary Trust's.

Limited partnerships, LLC's and REIT's are not real estate and do not qualify in a 1031 exchange.

Most importantly, the IRS looks at your intent for doing the 1031 exchange. What is your reason for purchasing the asset? For example, a long term investment works. There are no specific guidelines for a hold period but 2 years and above may qualify for 1031 purposes. No flipping homes! Debt must be replaced with equity, not equity with debt. Any money received and not replaced is known as boot and taxes must be paid on this money.

The person who sells must have the same tax I.D. Number as the one who buys.

 The best of luck to you for a successful 1031 exchange.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

We at Accord Real Estate Group are pleased to announce that the sale of 636 and 640 West 158th Street, New York, NY which closed in 2019 has now been accompanied with the sale of the most critical part of the assemblage, 638 West 158th Street which includes a townhouse and a 50x150 rear lot which closed yesterday, Thursday, April 8th 2021.

The sale of these properties reads like a novel, complete with squatters, falsified ownership paperwork which the court approved (and empowered the individual to do demolition on the front of the property) and then rescinded (because the individual attempting this stunt has a history of such activity, even documented in a The New York Times article no less!), 2 separate  lawsuits that were eventually settled, easement issues, an outside brokerage firm that had nothing to do with these transactions claiming commission due, an armed security guard, 24/7 surveillance cameras and much more! You can't make this stuff up folks.

The end result, a settled estate with happy beneficiaries, a happy investor and 3 happy law firms for part one of the assemblage and a happy seller and her family finally able to move on with their lives for part two of the assemblage, a relieved and happy investor/developer and a happy broker knowing that happy clients and a happy buyer was finally the desired result accomplished.

Accord Real Estate Group is currently exclusively representing the seller of 632 West 158th Street, a wonderful 5 family brick townhouse, just up the block from 636, 638 and 640 West 158th Street. For more information about this property and other properties currently for sale in our inventory, please visit our website at accreg.com.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Happy Holidays to everybody! May you be blessed with happiness, prosperity,  good health and peace on the Holidays and always.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

For December 2020 and January 2021, the most active zip codes and neighborhoods with the highest number of transactions are:

11215 - South Slope with 22 deals, 11226 - Flatbush with 33 deals, 11211 - New Williamsburg with 33 deals, 11249 – Williamsburg with 16 deals, 11238 – Clinton Hill/ Prospect Heights with 24 deals, 11207 – East New York with 15 deals, 11220 – Sunset Park with 8 deals, 11201 - Brooklyn Heights with 8 deals and 11206 – Bushwick/ Williamsburg/ Bedford Stuyvesant with 10 deals.

For December 2020 and January 2021, the banks financing the highest number of transactions are:

New York Community Bank with 122, JP Morgan Chase with 100, Signature Bank with 71, Investor's Bank with 47, Greystone with 40, National Cooperative Bank with 31, Flushing Bank with 31, Arbor Mortgage with 29, Northfield Bank with 19, ConnectOne Bank with 18, Dime Community Bank with 17, TD Bank with 17, Apple Bank with 15, Walker & Dunlop with 10. Maspeth Federal Savings & Loan with 10, Sterling National Bank with 9, Ridgewood Savings Bank with 8, Cathay Bank with 8 and First Republic Bank with 8 transactions.

Expect Brooklyn Real Estate in 2021/ 2022 to come roaring back once the pandemic is behind us. As history has indicated in the last 33 years that Accord Real Estate Group Broker/Owner Jeff Grandis has been brokering transactions, after a down trend period, unfortunately the likes of which we have never seen before with this devastating pandemic, the real estate market in New York will eventually come roaring back. There are already many positive signs that well qualified, enthusiastic buyers are purchasing properties as evidenced by the above data.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

The best example of this digital work transformation can be taken from Apple, Google and Amazon who have built campuses for their employees with variety and flexibility to suit a range of work styles.

Hudson Square Properties has adapted their office buildings that house TAMI (technology, advertising, media and information) tenants and built out custom headquarters that support the tenants individual work cultures. These properties have amenities like spacious rooftop terraces and hospitality laden lobbies offering different food and beverage options.

Landlords are working with tenants to adapt space to suit creative services and knowledge economy employees to enable them to engage with different energies, people and ideas that suit their thinking so they can accomplish the task at hand.

With an increasing share of the workforce that have become comfortable doing its work outside the office, the headquarters must draw back occupiers by offering the things that they cannot get at home.

Building owners must offer a better day at work post pandemic with an experience like a work hotel and deliver great experiences to users as part of their brand.

Interestingly, the flexibility of work at home studies have shown that since there is no emptying of an office to signal the end of a workday or a train to catch, people are working more hours and are experiencing more burnout than those on site in the office. There is, it seems a benefit to separating work life from home life.

The fact is that humans are wired for connection and not for solitude and loneliness. It's hard to collaborate, be mentored and have companionship when the office is a zoom room.

The office will come back to life post pandemic.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Agents and Brokers

Heritage Equity Partners has planned a 140,000 square foot, Class A residential building located at 875 4th Avenue, Brooklyn NY between 32nd and 33rd Streets, just walking distance to Industry City. The building will have a mix of studio, one and two bedroom apartments. Building amenities will include a gym, yoga studio, a children's playroom, outdoor space and a rooftop sundeck.

Madison Realty capital has provided Heritage Equity Partners with  $53M in construction financing. According to Josh Zegen, managing principal and co-founder of Madison Realty Capital “we are pleased to build upon our relationship with Heritage Equity Partners and execute this $53M loan to bring vital new housing options to this growing neighborhood”.

According to Toby Moscovits CEO of Heritage Equity Partners “while there has been a large increase in companies moving into this area, there have not been enough residences built to accommodate the growth in population”. “There is a need for more housing in the area, for more rental apartments and especially a need for new construction luxury units in this area”.

The projects location intersects Sunset Park, Industry City and Park Slope and will cater to people from these neighborhoods.

According to Property Shark Real Estate Market Trends report indicates that as of the 4th quarter of 2020 the median home sale price was $500K, up 7% year over year. A total of 18 properties traded representing a 12% year over year increase. The median home sale price in Brooklyn was $769K.

According to the New York Times, Sunset park is considered to be one of the next hot neighborhoods in New York City.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Agents and Brokers

Happy Holidays to everybody and our best wishes to you! Be well!

Presidents Day are alternative names for Washington’s Birthday, an official Federal holiday in the United States held annually on the third Monday of February.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Red Hook, Brooklyn NY real estate is an eclectic mix of lifestyle choices and investment opportunities such as single family houses, multi family living, mixed use properties and luxury condominiums.

However, with the rise of E-commerce and the Industrial real estate market seeing explosive growth over the last several years, Red Hook has emerged as a prime location for planned warehousing/ fulfillment center projects.

A massive 3 floor fulfillment center is planned to be built next to IKEA located at 640 Columbia Street. The facility will be 335,813 square feet for commercial use with 164 parking spaces. Ware Malcomb Architects a leading architecture firm in commercial and corporate real estate is the architect of record. Dov Hertz of DH Property Holdings is the developer on this project.

Another state of the art warehousing/office project is planned for 595 Smith Street. The owners of the property are members of the Chetrit, Nakash and Gindi real estate families. The project will be built on the site of  Red Hook's historic S.W. Bowne Grain Storehouse. At one time warehouses like this one and others in Gowanus were the center of a thriving shipping industry. Plans for the project have not been filed yet.

Another industrial/ warehousing and distribution center project planned for Red Hook is the Thor Equities Revere Sugar Factory project located at 270-280 Richards Street. The original plan was to build a pair of office buildings on the site and now Thor plans to build a last mile warehousing complex. To be continued.

Last but not least by any means, UPS has a 1.2M square foot truck depot/distribution center complex planned which includes the Lidgerwood Building at 202 Coffey Street. Several years ago, UPS had purchased a group of 6 parcels from Sitex Group for $303M. The parcels include 44 Ferris Street, 219 Sullivan Street, 100 Ferris Street, 242 Coffey Street, 68 Ferris Street and 300 Coffey Street. To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Agents and Brokers

The scope of the project can be from planning luxury condominiums, a branded workspace, tall towers, hospitals, affordable housing, a hotel, a renovation to a rehabilitation adaptive reuse project.

The challenge is to create dynamic spaces where people can live, learn, work, play and heal. The ultimate goal is for a lasting positive impact on people's lives and the world.

The top architecture firms in Brooklyn from 2008 to 2018 (by total square footage of their projects and the number of buildings built) are as follows as well as a look at what some of these firms are doing today.

Perkins Eastman – 11.9M total square feet, 24 buildings.

IMC Architecture – 9.4M TSF, 14 buildings.

SLCE Architects – 8.3M TSF, 32 buildings. Currently working on a 47 story mixed use building in Downtown Brooklyn/ Fort Greene, located at 98 Dekalb Avenue.

Dattner Architects – 5.7M TSF, 27 buildings. Currently working on a 41 story, 580,000 square foot residential/commercial mixed use building located in Prospect Heights at 700 Atlantic Avenue.

FX Collaborative Architects – 4.7M TSF, 7 buildings.

Fischer + Makool Architects – 4.5M TSF, 75 buildings. Currently working on an 8 story, 159,000 square foot, 50 unit mixed use building in Williamsburg with residential, commercial and community space.

Marvel Architects – 4.5M TSF, 27 buildings.

Hill West Architects – 3.9M TSF, 13 buildings. Currently working on a 17 story, 569 unit residential building on Crown Street in Crown Heights, located 1 block from the Brooklyn Botanic Garden.

Aufgang Architects – 3.9M TSF, 24 buildings. Currently working on a 7 story, 116 unit rental apartment building with 35 units for affordable housing located in Williamsburg at 222 Johnson Street, corner of Bushwick Avenue.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Agents and Brokers

Topping the list for 2021, after a life changing pandemic hit our city according to Streeteasy, Greenpoint is now#1 on the list of top Brooklyn neighborhoods.

Daily commuters who settled in Brooklyn before the pandemic did not necessarily favor Greenpoint with one subway line, the G train or the Ferry from India Street into Manhattan. That has changed dramatically in favor Greenpoint since many jobs have gone virtual.

According to Nancy Wu, Streeteasy economist, a lot of Manhattan residents are moving to the outer boroughs, especially to Brooklyn. Wu says “Greenpoint saw a 67% surge in searches on Streeteasy from 2019 to 2020 showing a clear increase in demand.

While rents in Greenpoint declined approximately 2% from 2019 and not being that much lower than Manhattan rents, Greenpoint offers larger spaces and a much better value than Manhattan.

Greenpoint has it all, an authentic atmosphere that is a mix of old and new, great dining and shopping options, a wide range of lifestyle choices whether buying or renting, a vibrant nightlife and Greenpoint is a wonderfully diverse melting pot of people and cultures.

Streeteasy's 8 out of  the lists top 10 spots belong to Brooklyn.

Other Brooklyn neighborhoods of note are Prospect Lefferts Gardens in the #2 spot and Flatbush in the #4 spot.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Agents and Brokers

Construction at 159 Broadway, across from Peter Lugar restaurant, planned as a 26 story tower with apartments, 235 room hotel with a restaurant, sky bar, pool and condominiums has filed for bankruptcy. Just as the Tillary Hotel in Downtown Brooklyn at 85 Flatbush Avenue has also filed for bankruptcy.

It is estimated that possibly 20% of New York City hotel rooms could close permanently. According to The Wall Street Journal, hotels such as the W Hotel at 8 Albany Street and the Maxwell Hotel at 541 Lexington Ave have closed permanently. According to the Real Deal Magazine, Sunstone Hotel investors gave the 478 unit hotel The Hilton Times Square back to it's lender, saying it would not reopen.

The list of closures goes on and on with The Omni Berkshire Place, The Hotel Pennsylvania, The Roosevelt Hotel, The Novotel New York Times Square Hotel, The New Yorker, Millford Plaza, The Courtyard by Marriott in Herald Square and The Hotel AKA in the financial district at 84 Williams Street.

Jan Freitag, Vice President of Smith Travel Research which forecasts supply and demand in the Hotel industry says “the bar to put somebody on a plane for business travel is suddenly much higher”. “Leisure travel will lead the recovery but group travel must recover in order for the hotel industry to recover”.

The Jacob K Javits Center which typically hosts 175 business events in a normal year has only 9 events scheduled for all of 2021.

According to Vijay Dandapani President and CEO of the Hotel Association of NYC “ultimately, meaningful recovery for the hotel sector will come as people feel safe, a timeline variable that remains the biggest unknown. “many hotels won't make it until that point”.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Happy Holidays to everybody and our best wishes to you! Be well!

Martin Luther King Jr. Day (officially Birthday of Martin Luther King, Jr., and sometimes referred to as MLK Day) is a federal holiday in the United States marking the birthday of Martin Luther King Jr. It is observed on the third Monday of January each year. King's birthday is January 15.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Surf Avenue in Coney Island has several new developments underway and the next chapter will include 1515 Surf Avenue, located between West 15th and West 16th Streets, between Surf and Mermaid Avenues. LCOR has obtained a 99-year lease on the land owned by the Russo family who are the owners of Gargiulio's Restaurant across the street from the site.

The project calls for a mixed use building with 461 apartments and 139 will be affordable units. There will be 11,000 square feet of ground floor retail space. Studio V Architecture is the architect of record. Amenities offered will be an ocean facing outdoor pool, deck and gym, tenant lounges, flex co-working spaces, basketball and handball courts and over 20,000 square feet of landscaped outdoor space as well as off street parking.

Boerum Hill will see a 9 story mixed use building at 52 4th Avenue at Dean Street and 4th Avenue. The building will be 95 feet tall and total 61,031 square feet. Metropolitan Realty Exemptions is the developer. There will be 41,120 square feet of residential space which will consist of 53 rental units, 5,482 square feet of commercial space and 383 square feet for community facility space. Gertler & Wente Architects LLP are the architects of record.

Prospect Heights will see a 9 story residential building located at 1010 Pacific Street between Grand and Classon Avenues. The developer is Naresh Mahangu of NY Building Associates Inc. J. Frankel Associates & Studio C Architecture is the architect of record. The project is planned for 164,571 square feet with 118,424 square feet for residential space for 175 rental units, some of which will be affordable. There will be 46 enclosed parking spaces, several resident lounges, a media center and a children's playroom.

Bedford Stuyvesant has a new project coming to 429 – 435 Tompkins Avenue at the corner of Halsey Street. The developer is Dragonfly Developments LLC. The architect is Issac & Stern Architects. The 35,000 square foot building will have 40 units ranging in size from studio apartments to 2 bedrooms. Parking facilities will be available. Clouds Architecture Office will handle the interior design of the building.

Downtown Brooklyn has a 13 story residential project planned for 219 Jay Street at the corner of Chapel Street and Jay Street. Tankhouse Development is the developer. The building will be 54,118 square feet total most likely with 36,191 square feet of residential condominium apartments. The units will be a spacious 1,340 square feet. Completion is expected by 2022. Kane Architecture and Urban Design is the architect of record.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

It's no wonder that Brooklyn, New York has 21 of the top 100, most valuable Condominium projects currently on the market.  They are as follows:

1) Tishman Speyer 11 Hoyt Street in Downtown Brooklyn with 481 units and a projected sellout in the amount of $838M.

2) CIM Group & LIVWRK 85 Jay Street in Dumbo with 408 units and a projected sellout of $832.5M.

3) RAL Development & Oliver Realty 50 Bridge Park Drive in Brooklyn Heights with 126 units and a projected sellout of $509M.

4) Hudson Companies 280 Cadman Plaza West in Brooklyn Heights with 133 units and a projected sellout of $477.7M.

5) Hope Street Capital 98 Front Street in Dumbo with 165 units and a projected sellout of $252M.

6) Fortis Property Group 91 Pacific Street in Crown Heights with 103 units and a projected sellout of $241.4M.

7) Sugar Hill Capital Partners 1 Prospect Park West in Park Slope with 55 units and a projected sellout of $198.6M.

8) Adam America Real Estate & Slate Property Group 10 Nevins Street in Downtown Brooklyn with 184 units and a projected sellout of $197M.

9) CIM Group & LIVWRK 111 Montgomery Street in Crown Heights with 163 units and a projected sellout of $147.4M.

10)Palin Enterprises & Mack Real Estate Group & The Greenpoint Urban Development Partners 21 India Street in Greenpoint with 95 units and a projected sellout of $143.6M.

11) Alloy Development 168 Plymouth Street in Dumbo with 46 units and a projected sellout of $131.9M.

12) Fortis Property Group 1 River Park in Cobble Hill with 48 units and a projected sellout of $121M.

13) Daten Group 575 4th Avenue in Park Slope with 70 units and a projected sellout of $107.6M.

14) Oestricher Properties & GPB Capital Holdings 211 Schermerhorn Street in Downtown Brooklyn with 48 units and a projected sellout of $98.8M.

15) Lonicera Partners & Orange Management & Davis Company The Symon 70 Schermerhorn Street in Downtown Brooklyn with 59 units and a projected sellout of $92.9M.

16) Fortis Property Group 5 River Park/ 347 Henry Street in Cobble Hill with 25 units and a projected sellout of $82.8M.

17) Andy Wong Winley Plaza Condominiums 5521 8th Avenue in Sunset Park with a projected sellout of $76.3M. # of units N/A.

18) Vega Management 78 Amity Street in Cobble Hill with 27 units and a projected sellout of $75.3M.

19) Adam America Real Estate & CGI & Arbor Eighteen Strategies 181 18th Street in Greenwood Heights with 73 units and a projected sellout of $75M.

20) Pinnacle Group 12-34 Crown Street in Crown Heights with a projected sellout of $74.9M. # of units N/A.

21) Barry Leon 475 Washington Avenue in Clinton Hill with 60 units and a projected sellout of $71.6M.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Real Estate Brokers and Agents

                                                                                                                                                                                              Photo by Anna Kader

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

The original rezoning outline from Department of City Planning called for stricter zoning to curtail development and landmarking initiatives to preserve historic areas. The Bushwick anti gentrification community plan calls for a downzoning of the neighborhood. The community is battling against the displacement of low income communities of color in favor of luxury developments.

The Lindermann house located at 1001 Bushwick Avenue is set for demolition, indicating just how vulnerable Bushwick is to development. For many Bushwick residents the tension in not just between affluent newcomers and longtime residents. It's about preserving historic and beautiful facades and cornices, preserving the neighborhood's cultural identity and affordable housing. The proposed 7 story residential building to replace Lindermann House like many new developments in Bushwick is unwelcomed by community members and local elected officials. According to Erik Dilan assembly member for the 54th district which encompasses Bushwick “we are not happy about housing that has no intention for our people to live in”. “We have a diverse and large community of all walks of life and races and to build housing for people that are not from the community is not what we are looking for”.

Today's residential zoning in Bushwick has no height restrictions and it appears that rezoning negotiations and historic preservation discussions between the Bushwick community and the City and LPC have broken down. According to Celeste Leon, the district manager of Bushwick's community board, “Preservation is really just a tool in addition to zoning”. “We are trying to use these tools to protect and preserve Bushwick and make sure that it's one that is reflective of our history and culture far into the future”.

Establishing historic districts in Bushwick was 1st explored in 1971 but had not been prioritized until now. According to Landmark Preservation Commission spokesperson Zodet Negron, agency reviews of Bushwick Avenue “found that it lacks the consistency and intact historic character necessary for it to merit historic district designation”. According to Sanford Ikeda, a professor of economics at Purchase College, who has studied the impacts of historic designation “it may not prevent cultural change and displacement the way the community hopes”.

The Bushwick Community Board and elected officials hope that the next Mayor will revisit their plan. Without a downzone and LPC landmark status designations, much of Bushwick remains open for development.

Accord Real Estate Group has been active in Bushwick real estate for many years and we are currently in contract for the sale of a two family house located at 12 Stanhope Street off Bushwick Avenue.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Technology has played a major role in helping industry to cope, innovate and adapt to enable business to be able to move forward during this devastating time.

The construction industry is using technology now to get more jobs done and to keep projects on track. With the cost of materials on the rise and slowed productivity, increased safety precautions and reduced manpower, technology has helped to increase efficiency. Phil Watson, Hoar Construction Division Vice President says “Just the adaptability of our industry in the face of such change and changing regulation, we've proven to be a very resilient group of workers in the field over the past 8 months”. In a State of Construction Technology report published by JLL and written by Construction Research Senior Henry D'Esposito “the urgency and severity of the pandemic condensed technology adoption that likely would have taken 3 years at a normal pace into a single year”.

For example, more projects are using digital collaboration tools such as construction management software Procore. Software can now provide 2D and 3D design models that outline each layer of a project from the foundation to the smallest electrical details. Matterport and Open Space scanning technology collects imagery and data of sites to enable design and construction to be viewed remotely.

Wearable technology by Triax technologies can monitor worker safety, promote efficiency and increase productivity.

Mr. D'Esposito of JLL adds “once you've done the hard part of adopting these technologies, you start to see the returns and once you have that, you're not going to go back”.

According to a Hoar Construction report, the cost of lumber, plywood, asphalt, concrete, appliances, plumbing fixtures, heaters, gypsum, builder’s hardware and general millworks all rose in price. These rising costs coupled with productivity reduction has put pressure on the cost of projects. Yet on the other side of construction costs, the cost of labor has gone down as well as the cost of some materials such as sheet metal, light fixtures, nails, copper wire and power wire have all gone down. Phil Watson of Hoar Construction adds “Construction is a highly skilled craft; we still have a labor problem in construction even now when you see unemployment rising across the country in other industries”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Agents and Brokers

Open Streets have allowed restaurants to take a few extra feet into the road for tables as well as drawing neighbors to the newly car free areas.

Park Slope's 5th Avenue BID is the sponsor of Open Streets on the blocks located between Dean Street and Park Place. In Sunset Park on 5th Avenue the open restaurant streets stretch from 40th to 41st Street and from 45th to 47th Street. In Dumbo Old Fulton Street from Water to Front Street is part of this program. In Red Hook Reed Street between Conover and Van Brunt Streets is part of this program. In Prospect Heights, there is one of the largest stretches of open space in the program on Vanderbilt Avenue between Pacific Street and Park Place.

The Open Restaurants program, an extension of the Open Streets program, as of September had enrolled more than 10,300 restaurants since June 2020. This program has allowed restaurants to expand seating to the frontage of adjacent properties as long as the adjacent property owners formally agree to the use of the space for a specified period of time.

According to Deputy Mayor for Operations Laura Anglin “the program has helped save tens of thousands of jobs and has been an essential lifeline to an industry that has faced enormous hardships during this pandemic”.

Vicky Been Deputy Mayor for Housing and Economic Development says “restaurants are the lifeblood of our neighborhoods and will allow our streets to pulse with energy into the cooler season, keep people working, boost everyone's spirits and help drive our economic recovery”.

Open Restaurants is helping to revitalize neighborhoods and the economy, puts the health & safety of New Yorkers first and creates an even more walkable city.

Outdoor dining has been a tremendous success for the city, however there will be several open street closures during the December, January and February months and a reopen of these street in the Spring 2020.  The street closures will include Vanderbilt Avenue in Prospect Heights, Montague Street in Brooklyn Heights and 45th to 47th Streets in Sunset Park.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Agents and Brokers

Thanksgiving is a federal holiday in the United States, celebrated on the fourth Thursday of November.  It originated as a harvest festival, and the centerpiece of Thanksgiving celebrations remains Thanksgiving dinner. The dinner traditionally consists of foods and dishes indigenous to the Americas, namely turkey, potatoes (usually mashed), stuffing, squash, corn (maize), green beans, cranberries (typically in sauce form), and pumpkin pie. 

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.  

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.   We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.  

Sincerely yours,  

Accord Real Estate Group  

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Queens and The Bronx took top position for the largest and most loans for October with a loan for $323M issued for the sale of Silvercup Studios with locations in Long Island City and The Bronx. The #2 spot belongs to a $300M refinance for a 1.1M square foot Factory LIC.

Brooklyn, NY continues to show resilience in this challenging time with commercial leasing deals being done in Gowanus, Dumbo and Red Hook as well as high end residential real estate sales on an uptrend over the last month.

The 3^rd largest loan in October was an $162.8M construction loan for Olympia, a condo project located at 30 Front Street in Dumbo. The building is planned for 70 units. Fortis Property Group signed the loan docs.

Hampshire Properties landed a $92.8M loan against a 302 unit residential project located at 1277 East 14^th Street in Midwood, Brooklyn.

Roni Realty landed a $39M loan for the mixed use building located at 56 N 9^th Street in Williamsburg.

Last on Brooklyn's top 4 list for October is Pulse Bedford Development which landed a $38M construction loan for the project located at 94-100 Lenox Road in Flatbush.

Go Brooklyn!

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Agents and Brokers

As a result of the Covid 19 pandemic, retail tenants delinquent on their rent and dues payments to the building boards have caused condo and coop homeowners to see a drop in value of their homes and their common charges have been going up to cover the shortfall in income.

When retail stores and shops anchoring residential buildings stopped paying rent to their commercial landlords, the landlords stopped paying dues to condo and coop boards.

Those buildings, many of them new developments, had come to rely on that income to cover as much as 15% of their annual budgets.

According to Leni Morrison Cummins, a New York real estate attorney at the law firm Cozen O'Connor “If you have 15% of the building not paying that means the other 85% has to pick that up”. This scenario has made if difficult for homeowners and developers trying to sell their units. Cummins adds “When someone goes to sell their unit, one of the questions is: What's the current common charges? “If you have a higher number than the rest of the market it's going to lower the property value”.

It's gotten tough with an increase in liens put on commercial units by condo and coop boards and in some cases it has now escalated into foreclosure law suits. There are unfortunately increasing examples of this possible trend that affects commercial landlords and homeowners alike.

According to David Putro, a senior vice president at Morningstar which tracks commercial mortgage backed securities deals “the weakness in securitized commercial loans has been occurring equally among national chains, boutique stores and mom and pop shops”. Putro also points out that “While the shutdown did not help, he attributed the retail sector woes to more systemic issues such as extremely high rent that pre dates Covid 19”.

For coop boards, the best solution is to negotiate an agreement with the retail tenants that can keep them afloat. The last thing a board wants is a vacancy and no income.

Vacant retail space is a huge stumbling block for perspective buyers whether it's a coop or condo.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Agents and Brokers

Happy Holidays to everybody and our best wishes to you! Be well!

Veterans Day (originally known as Armistice Day) is a federal holiday in the United States observed annually on November 11, for honoring military veterans, that is, persons who have served in the United States Armed Forces.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

In the Brooklyn luxury residential market sales fell approximately 36% from 236 deals last year to 150 this year. To break it down further, condominium sales fell 41% to 461. Sales of one to three family homes fell 43% to a total of 704.

The good news is that home prices stayed firm, with an average price of $969,377.00 for a home which translates into just an 0.8% price decrease from the same period last year.

The median sales price saw no change from last year to this year, staying at $790,000.00.

There is no doubt that sales activity has increased since the lock down restrictions have eased up, however there will still be a lot of ups and downs ahead of us before we see a consistent uptrend in deals to contract and closed deals.

Some good news, in the past few weeks, the number of luxury residential contracts signed in Brooklyn has increased slightly over previous weeks.

To be continued ...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Agents and Brokers

Happy Holidays to everybody and our best wishes to you! Be well!

Columbus Day is a national holiday in many countries of the Americas and elsewhere which officially celebrates the anniversary of Christopher Columbus's arrival in the Americas on October 12, 1492

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

Sunset Park community activists, residents and advocacy groups expressed that the rezoning would accelerate more gentrification and displacement in the area. On the other side of this issue, the rezoning would have been helpful to the city and be a continuation of the wonderful progress already made in the area. Andrew Kimball, chief executive of Industry City says “ if a project like this can't suceed, it concerns me very much about the future of New York City”.

Since 2013 Industry City has grown to become a wonderful tapestry of 500+ small businesses and artisans. The project developer Jamestown wanted to build on this success and momentum and add more retail, businesses and academic facilities.

The bottom line for this project proposal being scrapped was that there was too much opposition for the developers of Industry City.

Carlos Menacha who represents Sunset Park on the City Council who opposed the rezoning says “ the proposal's defeat was a win for Sunset Park and our work continues as a community voice that drives the growth and future of our neighborhood”.

According to Eric Ulrich, a council member from Queens “ we are sending such a terrible message to the rest of the country that we're not open for business and we're not open to economic development and new jobs”.

Unfortunately, the decision to withdraw their zoning application makes clear that this is a new low point for the New York Real Estate Industry and that Amazon's abandonment of a Long Island City Headquarters was not an outlier.

The City Planning Commission did approve the rezoning proposal but only 3 City Council Members out of 26 votes needed to pass came out in favor of it.

For now, that's the end of that.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

As new residential condominium buildings sprouted up in many prime Brooklyn's neighborhoods, garages gained in value. However, as land and development sites in prime locations became scarce, investors had to look elsewhere for opportunities to build.

According to Jeff Grandis, broker at Accord Real Estate Group and a lifelong Brooklyn resident, “In the Midwood neighborhood, specifically the Kings Highway East teens area, over the last 15 to 20 years several parking lots and parking garages have been sold to developers”.  For example, the huge parking lot between East 14th Street and East 15th Street, between Kings Highway and Avenue P was purchased from the city by developers who built a 4 story commercial building with the tenants T.J. Maxx on the 1st floor retail, New York Sports Club on the 1st floor and Visiting Nurse Service occupying the top floors. Also, between East 13th Street and East 14th Street, between Kings Highway and Avenue R, there was originally a parking lot that was purchased by developers who built a multi level outdoor parking garage, which was 6 or 7 years later sold to another developer who build a commercial building which now houses a Target Store on the 1st and 2nd floor, a Marshalls Store in the basement and offices on the several remaining upper floors with a separate lobby entrance on East 13th Street.

The combination of the rise of urban bicycling, app hail car services like Uber and Lyft, the shift to long term remote work places, the effect of the pandemic on our live and work lifestyles and the decline of car ownership have all contributed to owners, investors and developers seeing parking garages and parking lots as ripe for redevelopment.

According to David Schectman, a senior director at Meridian Capital Group “anytime a garage comes to market, there is tremendous interest in it”. Jeff Grandis cites another example of a parking lot conversion in Downtown Brooklyn. We were talking to the owners of the last 3 remaining large privately owned parking lots in Downtown Brooklyn before the city upzoned the area and the boom in development took place. The family that owned the lots lived in Florida and ended up selling the 3 lots to a developer who eventually built several terrific commercial buildings on those beautifully located parking lots.

Sales prices of parking garages and parking lots vary by location. According to Co Star data in 2020, as of August. 47 garages had traded nationwide and 2 sold specifically for redevelopment with 1 garage being located at 98 Dekalb Avenue in Brooklyn, NY. Developer Rockrose is incorporating the garage into it's 47 story mixed use tower.

Parking garages are not necessarily being viewed as a teardown by developers, but are in some cases being repurposed. David Schectman of Meridian Capital Group says “people are saying maybe it should be used as storage, an educational facility, rehab, medical or in some cases last mile delivery spaces for e commerce providers such as Amazon.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

The complexity of a global pandemic has added to an already uncertain timeline but lenders are still willing to bet on a property's success. Jonathan Roth, Co founder of 3650 REIT says ”the world changes quickly and as a lender you have to reassess and pivot”. He continues “We've seen this show before, it's not the same show this time round but there are always periods in the world of real estate where the music stops and you have to regroup”.

Pre pandemic commercial real estate lending was a borrower’s market. Post Covid 19, the tables have turned and lenders are now calling the shots. Shaunak Tanna, head of structured investments at Basis  Investment Group says “more lenders are willing to consider deals compared with three months ago and pricing is a little more expensive in response to the market uncertainty”.

According to Morris Betesh, a senior managing director at Meridian Capital Group “lenders are willing to do construction loans, but they are focused on asset classes that have proved to be resilient during Covid 19. Anything else is challenging”. For example, as we have been describing in recent blogs the asset classes of Hotels and Retail are a challenge, but Multifamily rentals, Office buildings in the suburbs and Industrial properties are attractive to lenders.

For some lenders their focus has shifted to the suburbs, for example, Long Island as opposed to Brooklyn or Long Island City. As in person retail and hospitality declines, the red hot attractiveness of the industrial sector continues.

Lenders are protecting their downside by identifying each type of risk, then quantifying that risk and finding an appropriate mitigator for that risk or pit differently, proceeds, pricing and structure.

Jonathan Roth of 3650 REIT adds, “developers deserve to be rewarded with great riches. They have to conceive a project, acquire the underlying land and develop it”. That process can take years and years and the world changes, it doesn't stand still. There are plenty of opportunities for lenders. Morris Betesh adds “it's a better time than ever to be a construction lender”. Lenders must do what they do and do it well.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Accord Real Estate Group Team

J associates and the project team of CW Realty, Owner/Developer and MHM engineering are planning a 10 story, 98 unit rental building located at 1499 Bedford Avenue, corner of St. John's Place, bordering Crown Heights and Prospect Heights. The total buildable square footage is approximately 160,000 square feet and renderings reveal a striking and handsome design combining dark brick with white or light tan brick and balconies at the corner. The timeline for completion is yet to be announced.

In Greenpoint at 112 India Street, between Franklin Street and Manhattan Avenue, a 4 story residential building is planned. This project should reach 50 feet high and have 6,375 square feet total with 4,980 square feet for 3 residential condominiums of 1,660 square feet each, a penthouse, a cellar and a 49 foot long rear yard. Wu Woody Chen of Infocus is the architect of record.

New Empire Real Estate is planning a 12 story Condominium building located at 6 Garfield Place in Park Slope. Designed by DXA Studio, the project will have 1 to 4 bedroom residences and a glass enclosed penthouse unit. The project design calls for setbacks and cantilevers that will support the balconies of this jazzy looking building. The amenities offered are a landscaped roof deck, outdoor dining and grilling stations, bike storage, a lounge with indoor and outdoor areas etc... Completion is scheduled for Spring 2021.

Edward J. Minskoff Equities is planning an 11 story commercial building located at 167 Plymouth Street in Dumbo at the corner of Jay Street. The eye catching design has a structural frame with diagonal cross bracing. The steel structural frame reduces the use of columns and shear walls, maximizing natural light coming into the building. The building is planned to be 148 feet tall, 220,767 square feet in size with 184,467 square feet for commercial space. There will be a cellar and a 20 foot long rear yard. Marvel Architects has designed this project.

Harry Einhorn of 643 Classon LLC is planning a 9 story mixed use building located at 643 Classon Avenue, at Dean Street and Classon Avenues in Crown Heights. The building is planned to be 95 feet tall for a total of 41,009 square feet. 28,544 square feet will be for residential use and 766 square feet will be used for a commercial space. There will be 42 rental units of approximatelt 679 square feet each. There will be a cellar, a 30 foot long rear yard and 7 enclosed parking spaces. James Shannon of Strekte Corp. is the architect.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Celebrating Labor Day in honor and recognition of the American labor movement and the works and contributions of laborers to the development, achievements and contributions of laborers of the United States.

If you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can. 

Sincerely yours,

Accord Real Estate Group

Your Brooklyn neighborhoods Real Estate Brokers and Agents

How long will the pandemic remain a part of our culture or fade away? Those questions go hand in hand with the questions of what design layouts and amenities will buyers and renters’ value and pay a premium for?

Some of the must have amenities being considered and planned for by developers are multiple gym rooms, a home office, re engineered ventilation systems, windows that open, lounges with glass dividers, balconies on all units, multiple lobbies with elevators, touchless entry, wider lobby stairs and separate entrance for deliveries.

In a survey conducted by Luke a real estate chatbot in New York City, that analyzed 30,000 messages from potential renters from December to February and March to May 2020, found that requests for home offices, outdoor space and in unit laundry had increased significantly. On the other hand, renter's requests for gyms declined significantly.

Arden Hearing, executive general manager of developer Lendlease, is planning a multi use project to be completed by late 2023 and says “Because of covid, we've thought a lot more about stairs, to encourage residents to use them and decrease elevator density”. Mr. Hearing adds “The HVAC upgrades alone will add several million dollars to the project”. The investment is expected to differentiate the project from older buildings and help with marketability.

Maryanne Gilmartin, founder and Chief Executive of MAG Partners is planning a project in the Chelsea neighborhood of Manhattan with more outdoor space, air filter upgrades, separate entry for deliveries and touchless elements.

Other developers like John Farina planning a 14 unit project in Delray Florida has changed to 8 elevators from 4 so that no resident would have to share an elevator with no more than two other units.

Other developers are now rethinking where to plan to build. For example, Developer, Mr. Covin, who has had a long career developing luxury projects in Downtown Miami is focusing on North Carolina now. He believes that demand will be heavy for second homes at the mid point of the East coast and less interest in dense city living.

Colin Behring, Chief Executive of Behring Co. in California says “working from home will be increasingly important”. Some of his units in a project to be completed in late 2022 will have beds that drop from the ceiling to the floor and at the push of a button will retract in to a home office module.

Amenities like retractable glass walls linking common areas to outdoor spaces and touchless systems are becoming a necessity rather than a luxury.

The list of planned amenities goes on and on and includes infrared lobby cameras to detect someone with elevated temperature entering the building and a one year subscription to free Telemed appointments and home exam kits that feed information to Telemed providers.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Unfortunately, in direct contrast to the industrial market, the retail and office markets are under pressure to adapt and change as a result of the Coronavirus pandemic's effect on our work and personal lifestyle needs.

Because of the low supply of last mile land and real estate development opportunities that can accommodate large warehouses, developers are opting to build up.

Two multistory projects are being planned, one in Red Hook Brooklyn, NY and one in the Bronx. These projects will be the 1st of their kind in New York and among the 1st in the entire U.S.

The Red Hook Brooklyn project being built by developer Dov Hertz and funded by Goldman Sachs Group Inc is planned for a 3 story 370,000 square foot warehouse with truck ramps to the 2nd floor and elevators that can hold as forklift going to the 3rd floor.

The Bronx project is a joint venture of Innovo Property Group and Square Mile Capital Management LLC. The project is planned for an 840,000 square feet warehouse on the former Whitestone Multiplex Cinemas in the Bronx.

Multistory warehouses have been built in Asia and the demand in dense U.S. Cities is strong now.

John Morris, the head of Cushman & Wakefield's national industrial division says “there aren't any true limitations, if the density of population and demand are significant enough and the pricing of land is high enough, the same principle that justifies three stories can justify many more”.

According to a 2016 Kinsey & Co. report, by 2020 same day and instant delivery to consumers will make up 15% of last mile volume and will grow from there.

The Red Hook Brooklyn project located at 640 Columbia Street is costing $100 per square foot for the land and $200 per square foot to build. Rents will be in the $30 per square foot range.

According to Andrew Chung, chief executive of Innovo Property Group, everything about e-commerce is about speed. The Bronx project sits close to numerous highways and truck routes offering between 30 to 60 minute drives to the east side of Manhattan, Queens, parts of Brooklyn, Southern Connecticut, Westchester and Long Island. 

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

According to Joseph Hamway of Industrie Capital Partners “ the pandemic has benefited his new project, a warehouse to office and retail conversion in Gowanus Brooklyn." The project called Roulston House, named after Thomas Roulston who used the 2 four story warehouses for his grocery business 100 years ago.

The 2 warehouses located at 124 Nineth Street, between Second Avenue and the Gowanus Canal have been meticulously renovated into 200,000 square feet of offices and retail space. Because of the pandemic, many people no longer feel comfortable taking mass transportation into Manhattan. Companies are looking for office space closer to where their employees live which is often in Brooklyn, New York

Industrie Capital Partners did a full gut renovation of the buildings with new lobbies, new mechanical and plumbing systems, new elevators, new ventilation with CDC rated air filters, 4 roof decks, bike storage and outdoor seating.

The structures are made out of heavy timber and brick. Much of the original wood was restored and repurposed. The architect on this project was Morris Adjmi, SBLM.

One of the new tenants is Mother New York, a media and marketing firm who recently signed a lease for 61,000 square feet for the top 2 floors of the larger building with a portion of the roof deck. On the ground floor, Sixpoint Brewery and Gutter Bowling have taken 23,000 square feet and 13,000 square feet. There is 60,000 square feet of pre built office space on the 2^nd floor.

Hamway explains that there are ongoing talks with a London based Food Hall for the ground floor space. Asking rents are $50.00 per square foot.

124 Nineth Street is the first big office project in Gowanus with brand new Class A up to date space. Hamway is hearing from perspective tenants from other trendy Brooklyn, NY neighborhoods like Dumbo for example.

The best of luck to Industrie Capital Partners!

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

A design competition had been launched in February to examine imaginative ways to improve the Brooklyn Bridge, which in the past, before the coronavirus pandemic, had huge numbers of cyclists and pedestrians. It's a really wonderful location but because of overcrowding it's become dangerous.

Deborah Marton from the Van Alen Institute which is overseeing the competition says “maybe in the future we should have less cars on the bridge”.

6 finalists will be selected by a jury of design and transportation experts. The goal is to see the best designs for accommodating commuters, tourists and vendors. The plans will be submitted to the Department of Transportation.

Department of Transportation Chief of Operations Officer Margaret Forgione says”we welcome new and innovative ideas on how to reimagine the Brooklyn Bridge promenade to create more spaces for pedestrians and cyclists. According to a DOT report, pedestrians use of the bridge nearly quadrupled and the number of cyclists doubled from 2008 to 2015.

Council Speaker Johnson says “people can't cycle over the bridge now. It's nearly impossible, we need to figure out a way to make the bridge safer for pedestrians and safer for cyclists”.

Today, there is exciting news to report. The Brooklyn Bridge Forrest ”which will use sustainably harvested wood to benefit local communities in Guatemala, while safeguarding 200,000 acres of rain forest is a finalist in the competition to reimagine the Brooklyn Bridge.

The public can vote online to support this project from July 24-30.

The Brooklyn Bridge Forrest Project reimagines the historic bridge as a leader of climate action and social equity, improving mobility, while respecting the landmark structure.

A dedicated bike path and reclaimed traffic lane create new space for cyclists and low carbon transit, while biodiverse “micro forests” at either end of the bridge bring nature and greenspace for underserved communities.

This project is a collaborative effort between WLS, Pilot Projects Design Collective LLC, Cities 4 Forests, Grimshaw Architects LLP and Silman DCP.

According to Scott Francisco, director of Pilots Project Design Collective and Cities 4 Forests “this is the right time for cities to lead in global change starting with their own infrastructure. There could be no better place to start than the Brooklyn Bridge”.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Since February 6th, the business of doing the real estate brokerage business has changed, yet it has remained the same in many ways. In this especially challenging time for our industry due to the Covid 19 pandemic, the biggest asset we have is our attitude.

As New Yorkers, we have already proven that we can do what was and is necessary to flatten the curve of this vicious virus and keep it down. New York has proven to the rest of the United States and to the world that we are a smart, focused, tough, resilient and caring city.

Although it's cliché to say attitude is everything, the fact is that 100% of how we approach our personal life and our business life has to do with our attitude. Our attitude makes the difference between floundering or succeeding in everything we do.

We, at Accord Real Estate Group, and many other seasoned Brooklyn real estate Brokers and agents have experienced societal tragedy and serious real estate market disruptions and downturns through the years such as the economic downturn of 2007. The September 11th terrorist attacks and Superstorm Sandy. Nothing we have ever been through before or likely will ever experience will compare to the devastation of the Coronavirus pandemic of 2020.

The question is, as real estate professionals how do we navigate through this challenging business environment? Number 1, 2 and 3, like location, location, location, is consistently maintaining a focused and positive attitude! Have an aggressive agenda, get organized, make a plan and execute that plan to the best of your ability.  Number 2 is using high touch technique, such as having conversations with your already established connections or relationships and leads that you have built through your sphere of influence and your database of contacts to strengthen your position as top of mind when your contacts or perspective clients or customers need of real estate brokerage services. Number 3 is using your arsenal of technology, i.e. company website, email campaign, social media campaign to strengthen your brand and your company message.

Remember, be positive, keep it positive and keep your business moving forward.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The $30M breaks down to contracts on 11 homes, 6 Townhouses, 3 Condominiums and 2 Co op apartments.

This has beern the strongest week in terms of the volume in these type deals since the week of March 9th. The week of March 9th, 2020 saw $45.3M in deals to contract for Brooklyn New Yrok luxury homes in the range of $2M or more.

The average asking price for last weeks properties was $2.4M and DOM (days on the market) 181.

356 Sackett Street took 1st position as the most expensive home. This 6 bedroom beauty enjoys 4,500 square feet of living space and was recently renovated. The asking price was $5.3M.

The #2 spot went to a Brooklyn Heights 3 bedroom duplex Coop apartment located at 160 Columbia Heights. This unit features a large terrace.

To best illustrate the uptick in deals to contract activity consider that the last week in June, the Brooklyn luxury residential market saw 5 deals to contract for $11.8M and the week before saw 4 deals for $9.5M total.

Let's hope that this trend continues. 

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

As the pandemic has eased somewhat in New York due to New Yorkers focus and determination to shelter at home, social distance from others and wear masks in public, the banks have shown more interest in placing loans, especially with the multi family market. We seem to be headed back on track, hopefully to some sort of normalcy in the near future.

The Mortgage Bankers Association revealed that by the end of March, 2020 mortgage originations had dropped by 40% nationwide.

The forward movement of some banks and the change in the market can be explained by the reopening of some businesses and rents being paid.

Medridian Capital Executive V.P. For sales Brian Flax said “ lenders need to make loans”.

In terms of the way lenders underwrite, a more conservative lens is being used. The Federal Reserve dropping interest rates to near zero has definitely helped the market.

The larger national banks such as Wells Fargo are mostly still on pause with regards to commercial real estate lending. Smaller regional and community banks have been the banks which have shown interest in origination loans on multi family properties.

Signature Bank has financed loans on multi family properties throughout the city in neighborhoods such as Washington Heights, Hamilton Heights and Hell's Kitchen.

The other asset classes that have remained strong during the pandemic have been warehouses and industrial properties which have remained in operation during the pandemic.

According to Eric Orenstein, an attorney in the transactional department at Rosenberg & Estis “I don't see things ramping up in the next two months”, “there needs to be a steady transition back to people working in the office. Until you have that for a period of time, I just don't see volume coming back with any regularity”.

Despite the fact that the availability of credit is tight, on a more optimistic note Tendayi Kapfidze, chief economist at Lending Tree says “If you can get a loan, then the price is going to be relatively low”. “The challenge right now is access”. 

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Some of the spaces that are set to open soon are JEMB Realty's One Willoughby Square in Downtown Brooklyn and Two Trees Management's 10 Grand Street in Williamsburg. Myer continues to say that “in response to the health crisis, Downtown Brooklyn is really well positioned because we have some projects that are coming online that really represent the future”. “We are going to have state of the art products which we have not had”.

One of the highlights of 10 Grand Street is the ability to lease only 6,000 square feet and have your own floor and the ability to make your company statement. From a health and safety point of view, this creates great value to be able to control your own environment.

There is currently 2.31M square feet of new construction or redevelopment projects in the works in Brooklyn.

Other noteworthy projects coming up are Rubenstein Partners and Heritage Equities 500,000 square foot office, manufacturing and retail development at 25 Kent Avenue in Williamsburg and the Rudin Family and Boston Properties 675,000 square foot Dock 72 in the Brooklyn Navy Yard.

Brooklyn is already a proven, viable place for companies to come and grow. Entrepreneurs, creatives, tech and media companies are already here.

Brooklyn had a great start to 2020. The average office spaces were renting at $43.88 psf. Manhattan had an average of $81.64 psf.

For companies that qualify for New York State's Relocation and Employment Assistance Program (REAP), some of their costs can be offset by tax credits saved.

Zaher, a Two Trees executive says “we want our tenants to come here to take advantage of those incentives. Not everyone knows about it”.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Maximizing the use of outdoor space and having improved mobility, economic recovery and recreation is and will be the goal of urban planners. In order for these changes to happen cities are adding temporary bike lanes, extending sidewalks, closing streets to through traffic, requisitioning public space for outdoor dining and designating zones for curbside pickup.

Executive Director of the NYC Hospitality Alliance Andrew Rigie says “we need to reimagine how we use public space – parks, street and public plazas to set up tables and chairs so restaurants can generate much needed revenue outdoors, because they will likely have reduced occupancy indoors”.

Tactical urbanism, according to urban planner Francesco Cerroni at the consulting engineer and advisory company Buro Happold, is a good temporary solution to the use of space, using different color paint or some cones and markings to separate and define a different use of space at a very low cost. This would serve to designate curbside pickup and delivery and make it easier to create outdoor dining.

These changes are a rapid response to public health concerns over social distancing.

Urban planners now have an opportunity to imagine a different future. Developers are designing the future now because the development timeline is so long, they need to think about what the world could possibly look like in 5 to 10 years.

Laura Fox General Manager of Citi Bike at Lyft says “the shutdown really opened a path to speaking about the need for thinking about mobility and the idea of streets for people”. Streets for people is about a balance of transportation modes such as walking, biking, using more buses, transit or other options. Fox continues to say “people will gravitate to modes best suited to their trip and the streets will reflect those needs.

The world has changed and cities need to adapt.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

A wonderful afternoon getaway option to consider is Bath Beach.

Strolling along Bath Beach's shoreline promenade (with a walking and bicycling path), enjoying a fabulous view of the Verrazzano Narrows Bridge, and meandering through the quiet streets admiring the amazing array of Victorian homes is a great way to safely spend a summer afternoon in Brooklyn.

At both Bay 8th Street and 17th Avenue, there is an overpass leading down to the shoreline promenade, the bay and the bridge views where there are benches to sit on to relax and enjoy the tugboats towing barges filled with containers of goods, the enormous cruise ships entering New York and countless sailboats, jet skiers, water taxis and luxury vessels as they pass under the majestic Verrazzano Bridge.

A home tour of Bath Beach does not disappoint, with many beautiful Victorian homes to admire that are built with witch's hats and turrets are located on Bath Avenue, Benson Avenue, Cropsey Avenue, Bay 8th Street, Bay 11th Street, Bay 22nd Street, Bay 25th Street, Bay 26th Street, Bay 28th Street and on 20th Avenue.

Even the 62nd Police Precinct in Bath Beach located at 1925 Bath Avenue, built in 1905 with red brick and stone and green trim around the top of the exterior is a beautiful building to see.

After all of that shoreline and house tour strolling, you've probably worked up an appetite. A terrific choice is to go east to 86th Street to another Brooklyn gem, L&B Spumoni Gardens Pizzeria and restaurant (established since 1938) to enjoy a socially distanced al fresco dining experience and partake of some of the best Pizza and Italian specialty dishes to be found anywhere.

Enjoy!

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The fact is that no one, no matter how much wisdom they possess, has the answer to what the future has in store for New York real estate.

The 3 scenarios of the current market and potential outcomes are the following:

The worst case scenario is that major companies will downsize and fire thousands of workers. These thousands of workers will face evictions from their apartments.

Many retailers, big and small will not survive the economic fallout from this pandemic and will close their doors. J Crew, Neiman Marcus and J.C. Penney have filed for bankruptcy, Pier 1 Imports is out of business and brands are planning to close hundreds of stores.

Hotels remain empty and shopping malls are closing as lenders reach forbearance fatigue and refuse to extend any more relief.

A huge 2nd wave of the pandemic in the Fall would put to rest the current feeling that this will be ok and everything falls apart.

The fear that Americans feel now about the future creates a severe confidence problem. Once consumers lose confidence, we could be looking at a weak economy until 2022 or worse.

Projects like the Hudson Yards Mall was a developer’s dream, but not now.

Office buildings have seen tenants not paying rents and even companies like Google and Facebook have employees working from home and how long will that last? The trend may be massive downsizing or eliminating office space completely for example MasterCard and Morgan Stanley have told employees to work remotely.

Companies may decide to leave New York completely to go elsewhere for cheaper real estate, good livability rates and a good talent pool like Charlotte N.C.

Co Working companies have leased up to 14.7M square feet of office space and are now looking to give back some space. Many landlords who made the decision to rent to these tenants will get hurt.

Sales of Multifamily rent stabilized buildings has already taken a hit with the new rent reforms passed by the state last year. Landlords will continue to negotiate with their tenants and lenders as the State tries to sort out policy solutions and expenses keep going up.  If you can't raise revenue this makes Multifamily rent stabilized buildings the wrong sector to invest in.

A less severe market scenario still has yet to be revealed since phase 1 reopening of NYC has just begun. It's still too early to see the level of impact on the office market for example.

Some experts say that as much as 20% of retail stores will not be able to reopen.

The Construction industry is also facing big delays and big problems as projects get canceled or pushed back indefinitely.

The best case scenario for New York real estate is the fundamental attractiveness of New York hasn't changed. We have recovered from a major crisis before like Superstorm Sandy and others. The uniqueness of New York is its people, it's cultural life, the diversity of the economy and the incredible energy and vitality that pulses through its streets. None of that has changed, just temporarily suspended. New York will rebound!

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Currently, park visitors have to exit the park at Water Street to go from one section to the other.

A pedestrian plaza will replace a fenced off lot which separates the 2 sections of the park.  The new $8M plaza, is expected to be completed by December 2021 and will conform to the current look with concrete pavers, planting beds and a lawn.

Brooklyn Bridge Park President Eric Landau says “the project was given the go ahead by the city's Landmarks and Preservation Commission”. Laudau also said “any project that is in a landmarked district on city owned land needs to go before the Landmarks Preservation Commission.  The fenced in lot under the bridge is part of the Fulton Ferry Historic District.

Portions of the Brooklyn Bridge Park and plaza were designed by Michael Van Valkenburgh, however the park also collaborated with Pratt Institute and the community on this project.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Everyone is looking forward to the park being finished!

The Flatbush group that is opposed to the project is called Respect Brooklyn. According to Linda Allende of Respect Brooklyn, “this would be a ridiculous upzoning of an upzoning that was granted in 2009."

The property owner is planning to build a 9 story building with 85 apartments, a 6,473 square foot space for the Super Market plus 3,087 square feet of ground floor space for other retail use and a cellar with 44 parking spaces. Twenty one of the apartments would be permanently affordable units.

Allende of Respect Brooklyn points out that “the developer can already build all the affordable housing they want and get a bonus they don't need and do not deserve permission to evade existing zoning to build an out of context and out of character tower”.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

According to Lawrence Yun, NAR's chief economist, “ the housing market is temporarily grappling with the Coronavirus induced shutdown which pulled down new listings and new contracts”. Yun predicts that once consumers acclimate to social distancing public health protocols and the economy slowly and safely reopens, listings and buying activity will resume, especially with the record low mortgage rates.

With new protocols for closings being introduced to the market, 43% of buyers have taken advantage of E-closings so far.

Although there will be local market variations, home prices will hold up well due most likely to an inventory shortage and home prices will increase slightly.

On the lending side of the housing equation, the Federal Reserve is working to boost liquidity for banks, encouraging them to lend more and to help the devastated economy.

The housing market was on solid footing before the Coronavirus pandemic hit but with a flood of defaults, as a result, several banks such as US Bank, JP Morgan Chase and Wells Fargo have raised their requirements to qualify for a mortgage, which will hurt the housing market. Every local real estate market is unique, as is every property and every buyer and seller. Time will tell how different markets will weather this storm.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The Coronavirus Pandemic has dramatically challenged this business model and growth opportunities. Brad Hargreaves, CEO of Common says “ the people who are breaking leases and dropping are not dropping because they got skittish about co living. They're dropping because they lost their job, they decided not to move or there was some fundamental change in circumstance”. Common has been offering flexible payment plans to tenants. Most of Common's residents have 12 month leases and some with a three month leases. In this case the company has less exposure to transient renters and makes residents feel more comfortable because they have developed relationships with their apartment mates.

The coliving company Quarter, (the We Work of co living) CEO Rui Barros sees leasing demand for it's co living space slow down. Barros does not have a set policy on rent flexibility but is having conversations with residents and evaluating each situation individually.

The public health crisis of a spreading pandemic is forcing co living providers to take new precautions to keep their residents safe. Bobby Condon, Quarters North America General Manager says that “ we have changed our operations to make sure we're aligned with guidance from the health authorities. Quarters, Barros observes that until we have a better sense of what the recovery timeline looks like, there is probably going to be slowed growth. Both Hargreaves and Barros agree, that the growth prospects of co living, once the crisis has passed hasn't dimmed.

The popularity of co living is based on people wanting high quality and affordable housing in prime locations in the city. People will still want this.

Co living may be much better positioned to weather a recession than co working. There are a variety of ways you can keep your business moving forward without having the expense of office space.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Doing virtual walk through inspections should be used as needed to see what work has been completed and can help to keep projects on track and lessen delays. Many projects have been halted as a result of a delay in the delivery of construction materials. You need to ask, are the materials arriving on time, has the supplier closed until further notice, should you be looking to alternative vendors and suppliers to keep the project on track?

The current state of affairs has caused schedules to be adjusted and plans revised, whether it be delayed delivery of materials or enough labor on site to keep the project moving forward. It may be necessary to revise a completion schedule with the help of your funds control consultant. Controlling costs is essential. Review all of the items that may effect the budget such as reduction of the workforce, labor shortages, material shortages or schedule issues.

Review all of your legal documents to see where the areas of possible risk are. For example, review your loan agreement or contractor's agreement. What are the provisions of your contract? Does your contract have a force majeuse event provision in it that removes your liability?

Safety protocols are typically in place for a typical commercial construction project. A new set of protocols need to be used for Covid 19 to help alleviate concerns for safety of all involved. For example, staggering start times for different trades, rotating breaks, daily sanitation/cleaning, a mask requirement, taking temperatures, social distancing etc... The new protocols may provide parties involved with some peace of mind and enable a project to move forward successfully.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Industrial and warehousing businesses have essential services status and are allowed to conduct their daily operations. These services include warehousing, distribution, logistics and fulfillment, the manufacture of food, medical & other essential goods, telecommunications and data centers, auto repair, select construction sites and construction supply, skilled trades including electricians and plumbers, business storage, mail and shipping services, trash recycling and building repair, maintenance, security and disinfection services.

A recent market report by Prologis indicates that the logistics sector is positioned to handle inventory supply and demand disruptions due to standard long term occupancy contracts which serve to buffer cash flows from short term disruptions. While property values in the Investment sales market peaked in 2014/2015, the Industrial sector continued in a steady climb in values through the start of this year. The average price per square foot has increased by 10% per year since 2011.

The wave of conversion from Industrial to residential, office, retail, hotel and self storage uses reduced the supply of industrial space and allowed for the rise in rents from the city's creative and manufacturing economy revival. Rents for grade A Industrial space within the boroughs reached $30 per square foot and vacancy rates as low as 3% by 2016.

The time was right for developers to build large scale industrial buildings for the 1^st time in many years. The new demand for industrial space has primarily been driven by the growing e commerce and logistics industry where the demand for last mile delivery in New York has gone through the roof!

Another growth factor for the industrial sector is the demand for movie and T.V. Studios expansion plans within the 5 boroughs. These studios include Silvercup Studios, Steiner Studios, Kaufman Astoria Studios, Broadway Stages as well as Lionsgate and Netflix.

An annual tax credit of $420M from New York State certainly did help in this expansion.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

These days brokers and agents are strictly prohibited from doing any in person showings. The potential legal risk if heaven forbid, one of the buyers contracts the virus and becomes ill and passes away is immense. Hold harmless agreements and disclaimers may present an option, but it's better for now to just simply stay home and be safe. Many brokers are doing virtual tours of their listed properties. Everyone would agree here that only under rare circumstances will a buyer purchase a property sight unseen. 

There are mostly remote closings taking place with solid deals that had been in contract with motivated sellers and well qualified motivated buyers. Some closings are taking place using the Zoom app where all parties are invited to join the meeting on their phone, personal computer or laptop. Documents are being messengered or FedExed back and forth between seller and buyer attorneys, the title closer, banks or mortgage brokers and the real estate broker(s) and documents are being notarized all in an attempt to get deals done.

Many deals have not happened, with term sheets being pulled, loans repriced, lease deals paused and rates recalculated. Sales prices agreed upon one day became negotiable the next. Every property is different, every buyer and seller are different and every transaction is different and especially true today. Every buyer or investor has a different strategy. If there's a deal that's perfectly aligned with that investors strategy and they see it come to market and they have the liquidity or access to capital, then they're still going to move forward on the purchase.

When it comes to financing a deal, things are moving along for some transactions and at a dead stop for others. The majority of lenders according to The Commercial Observer are honoring deals in their pipelines but proceeding with caution when it comes to future lending opportunities. It depends on the borrower and the lender. If the borrower has a good relationship with the bank and the term sheet is signed, then these deals are going to fund.

Despite that our office is temporary closed due to COVID-19 please feel free to call us at 718-375-2065 or email at info@accreg.com. We are here to advise and to help you in every way we possibly can during this crisis.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

According to Gene Reilly, Chief Investment Officer of Prologis, a global real estate company whose portfolio spans approximately 1B square feet of space around the world “ we have stopped all spec development for now”. “ we are trying to figure out where the rents and occupying will be a year from now”.

According to Mark Weinstein, founder and President at MJW Investments “ this is not going to go on forever, but it's going to go on for a while”. “ Owners planning to sell assets this year have pushed back plans as part of a strategic shift to respond to the pandemic.

According to Bill Shopoff, President and CEO of Shopoff Realty Investments”many of our properties that we had planned to sell this year will now have their disposition timelines pushed back a quarter or two depending on the market's future recovery”. “ In addition, properties we are considering for acquisition will now have to be further evaluated as determining valuations is nearly impossible in the current market”.

Many landlords are closely evaluating their income producing properties and working with tenants to determine if rents may be late/unpaid and how that will impact the property as a whole.

A long term strategy that some investors have used in building their real estate portfolios is to include a variety of property types and markets in an effort to potentially lessen the overall portfolio risk. The thinking is that any possible burdens of one property during this time many be carried by the successes of others.

The good news: the economy was already at it's peak prior to the crisis and for that reason, many investors were preparing for some sort of economic event, having experience in dealing with challenges, although nothing approaching a global pandemic.

At Accord Real Estate Group, according to Jeff Grandis, broker and Co-owner, over the last month since being faced with this pandemic we have had to reassure our clients that transacting new deals and closing transactions in contract, is challenging but we are committed to moving forward safely and confidently one step at a time.

Despite that our office is temporary closed due to COVID-19 please feel free to call us at 718-375-2065 or email at info@accreg.com. We are here to advise and to help you in every way we possibly can during this crisis.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

To all and everyone who put their lives on the line to protect and save us -Thank you so much from the bottom of our hearts. Please be safe, be well !!!

Our office is temporary closed due to Covid 19 NY quarantine.

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can. Please follow the "Stay in place order'. 

Sincerely yours,
Accord Real Estate Group
Your Brooklyn neighborhoods Real Estate Brokers and Agents

As far as the effect this has had on New York real estate, Crain’s reports that “some investors are brushing aside mounting concerns about the economic fallout from the virus and pushing ahead with major acquisitions. For example, RFR Realty, owner of several office properties in Manhattan has gone to contract to purchase 522 Fifth Avenue from Morgan Stanley for approximately $350M.

Amazon is buying Lord & Taylor’s former department store building located at 424 Fifth Avenue for approximately $1.15B in cash. The landmarked, 11 story, 660,000 square foot building will house Amazon’s NYC headquarters. The price tag comes to more than $2,000 per square foot for the Midtown property. 

Jeff Grandis, broker at Accord Real Estate Group, a Brooklyn based brokerage company whose business spans Manhattan, Brooklyn and Queens says” investors are continuing to purchase great properties with tremendous potential for growth”. “ We are currently doing investment and development deals in Prospect Lefferts Gardens, Fort Greene, Sunset Park and Midwood in Brooklyn”.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The NYC real estate market and construction worlds are looking at the real possibility of rising costs of materials and delays as Chinese shipping has slowed down considerably. The impact of declining tourism and slowing retail business in NYC has landlords and restaurant owners worried. Supply chain issues – steel, millwork, plumbing fixtures, electrical fixtures, concrete boards and flooring tiles are the biggest concern for the construction industry.

Contractors are concerned whether or not the costs of higher priced materials and delayed shipments will fall on their shoulders. Joseph Natarelli, the head of the contractors industry practice group at the accounting firm Marcum LLP says “the best contractors are taking proactive steps to plan for the possibility that they’ll need to buy their materials elsewhere and negotiating potentially higher prices with their clients now”.

A concern in the construction industry is also that if there is a major outbreak of the virus, workers may not want to risk coming to the job site.

Chris Smith, a senior director on CBRE construction cost consulting has a calmer outlook on what the NYC construction industry is seeing at the moment. “We’re not really experiencing a major negative impact from the Coronavirus yet”. “Most of the raw materials and products we use in construction are in stock and already in shipment from China. The impact will be over the next few months”.

The real estate industry in NYC hasn’t seen anything happen like the potential effect of the coronavirus before. With a more proactive plan and definitive approach by state, local and the federal government being initiated to create public awareness and advocating common sense methods (washing hands, sanitizing, not touching your face after being in a public place etc…) to try to stop the spread of the virus, hopefully an end to this virus can happen.

To be continued

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The first commercial office building to be built in North Williamsburg in more than 40 years, located at 25 Kent Avenue is complete! This 500,000 square foot, 8 story building spans an entire city block. The architect on this project is Hollwich Kushner at Gensler and the developers are Rubenstein Partners and Heritage Equity Partners. The partners hope to find just the right anchor tenant and have the building fully leased by mid 2021.

A 17 story, 175,000 square foot mixed use project located at 329 Broadway in Williamsburg is progressing with exterior work being done now. The developer is Parkview Management and the project was designed by Syndicate Architecture. The layout of the building will be 59,000 square feet of retail on the 1st and 2nd floors, approximately 24,500 square feet of community facility on the 3rd and 4th floors and residences begin on the 6th floor. There will be 18,000 square feet of outdoor space and parking for 109 vehicles.

The former site of Bushwick’s historic Rhinegold Brewery is now a completed 1.2M square foot mega project located at 54 Noll Street. The residential campus took 5 years of development and construction to get it done. The project was designed by ODA New York. All Year Management is the developer. There are 911 units with 20% reserved for affordable housing units. The amenities in this building are an unparalleled with 100,000 square feet which includes a 70,000 square foot rooftop outdoor space, a mini golf course, barbecues, a hydroponic urban farm, coffee shop, game rooms, a rock climbing wall, a large pool, boxing ring, a microbrewery, children’s play area and multiple lounges for residents and their guests.

Plans have been filed for a new 9 story mixed use building in the Gravesend neighborhood at the corner of McDonald Avenue and Quentin Road. The development is planned for 65,850 square feet with 44,435 square feet for residential space and 6,636 square feet for commercial space. There will be 40 condominium units with an average size of 1,110 square feet. There will be 15 enclosed parking spaces. Ruslan Goychayev of RSLN Architecture if the architect of record.

Leasing has begun for the 421 units at Two Blue Slip, a 40 story residential tower on the East River waterfront in Greenpoint. The project was designed by Handel Architects and developed by Park Tower Group and Brookfield Property Partners. Amenities designed by Gachot Studio for the residents will include The Pool Club with a private bar, a lounge, reservable cabanas with views of the Manhattan skyline, two story fitness center with a spin studio, TRX equipment, outdoor landscaped terrace with grilling stations and wet bars and a residential lounge with a fireplace. There will be 12 penthouse units with individual outdoor terraces.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Some examples of the most expensive homes on the market today in Brooklyn are:

88 Remsen Street, between Henry and Hicks Streets is located in Brooklyn Heights. This 19th Century townhouse with a rear carriage house is priced at $18M.

One Brooklyn Bridge Park #1216 is located at 360 Furman Street in Brooklyn Heights. This 8,500 square foot penthouse apartment is priced at $15M.

81 Pierrepont Street is between Hicks and Henry Streets and is located in Brooklyn Heights. This 6,000 square foot, gut renovated 19th Century townhouse is priced at $14.5M.

17 Prospect Park West, between Carroll Street and President Street is located in Park Slope is an 1899 limestone townhouse priced at $12.9M.

8121 Shore Road between 81st Street and 82nd Street is located in Bay Ridge. This 10,000+ square foot home is on a ½ acre lot is and priced at $11.2M.

181 President Street, is located between Henry and Clinton Streets in Carroll Gardens. This beautifully renovated townhouse with a 2 car garage is priced at $9.95M.

280 Washington Avenue, between Willoughby Avenue and DeKalb Avenue is located in Clinton Hill. The Pfizer Mansion is 10,000 square foot, 25 foot wide Brownstone townhouse in magnificent condition and is priced at $9.95M.

104 Prospect Park West, between 5th and 6th Streets is located in Park Slope. This 6,200 square foot, gut renovated limestone townhouse is priced at $8M.

108 Eighth Avenue, between President Street and Carroll Street is located in Park Slope. This approximately 8,000 square foot townhouse with Tiffany light fixtures and a mahogany staircase is priced at $7.5M.

82 Amity Street, between Hicks and Henry Streets is located in Cobble Hill. This meticulously renovated, 4,200 square foot Neo Grec brick townhouse is priced at $6.495M.

According to The Real Deal NYC Real Estate publication, last week was a great week for pricey Brooklyn residential Real Estate with 14 contracts signed for $2M or more, split between 8 houses and 6 condominiums.

The priciest deal was a 5,000 square foot townhouse located at 106 Prospect Place, between 6th Avenue and Flatbush Avenue. Contract price approximately $7M.

The 2nd most pricey deal was a 2,870 square foot, 6 bedroom Park Slope townhouse located at 488 13th Street, between Prospect Park West and 8th Avenue. Contract price approximately $4M.

Other notable Brooklyn deals to contract last week were both in Williamsburg. A townhouse located at 62 Grand Street, between Kent Ave and Wythe Ave went into contract for $3.7M and a condominium located at 56 South 3rd Street, between Kent and Wythe Avenues, that went into contract for $3.45M.

According to Real Estate Data company Property Shark, Cobble Hill has risen to the top spot of priciest Brooklyn neighborhoods with $1.6M being the median sales price for residential real estate.

Dumbo and Boerum Hill the 1st and 2nd most expensive Brooklyn neighborhoods for 2 years straight, have lost their top spot for 2019.

2020 will be a very exciting year for Brooklyn Real Estate!

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

The foundation for building relationships with your clients and customers is trust. To gain trust you must demonstrate your knowledge and dedication to assisting your buyers and sellers to reach their goals. For buyers, the goal is purchasing just the right property to suit their needs and for sellers the goal is transitioning out of ownership of a property. You must keep in mind that every buyer is different and every seller is different, each with their own individual ideas and expectations of the buying and selling process. This sounds simple enough, but as a real estate professional you must be very sensitive and listen very carefully to your buyers and sellers. Some of the most valuable lessons learned and a real education about the past and current market comes from listening to the experiences of your buyers and sellers.

In today’s booming residential, commercial and industrial real estate market there are countless licensed real estate agents working as buyer’s agents. The top selling agents do take the time, emotion and energy to gain the trust of their buyers and learn what is most important to that buyer and focus on finding that one special property that is a square peg for a square hole. Top selling agents should not ever attempt to sell a property by portraying it as being “just the right property” for a buyer if they have not put in the time and energy learning about and working with and gaining the trust of that buyer.

Agents that do not work in their buyer’s and seller’s best interest will have a short lived career in real estate.

Yes, as licensed real estate agents and brokers in Brooklyn, we gain experience and knowledge through the years and hopefully (it’s very nice if this happens) we come to enjoy the service that we provide to our customers and clients ( buyers and sellers) and of course closings can be a wonderful experience, if you make it your business to make it so.  Sometimes, our transactions move fairly smoothly towards to closing, BUT, many times, especially in today’s market, quite a few transactions are taking longer to close or fail to close because problems arise. Some problems that can potentially cause a deal to break apart such as title issues, tenant problems or certificate of occupancy discrepancies, liens, buyer misrepresentation etc. can many times be handled by an experienced real estate agent. Keeping a transaction on track to close when problems arise requires experience, an understanding of everyone’s goal involved in this transaction and most importantly having a tremendous amount of patience and being professionally persistent enough to get the deal closed and done.

To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

 With many transportation options, incredible shopping and dining choices, gorgeous tree lined Brownstone blocks of historic homes and proximity to Manhattan new projects will take full advantage of this amazing Brooklyn neighborhood.

9 Dekalb located next door to the original Junior’s Restaurant at 340 Flatbush Avenue Extension will be 73 stories and 1,066 feet high. The Developers are JDS Development Group and Chetrit Group and the architect is SHoP Architects. The project is planned for 417 rental units (20% affordable) for a total of 561,104 square feet. Completion planned for 2020.

Brooklyn Point located at 1 City Point, 138 Willoughby Street is planned for a height of 57 stories, 458 Condominium apartments with a total of 685,964 square feet. Completion is planned for 2020. The developer is Extell Development and the Architect is Kohn Pedersen Fox.

80 Flatbush Avenue is planned for 74 stories and 986 Feet high. The developers on this project are Alloy Development and The NYC Educational Construction Fund (ECF). The architect is Alloy Development. Completion is planned for 2020.

Not a supertall but 260 Gold Street nonetheless will be a great Downtown Brooklyn project. The project will be designed by Frankl Associates and developed by Gold Street Realty Holdings. This project is planned for 13 stories, 194,089 square feet with 286 units with an average square footage of 689 square feet apiece.

Another Downtown Brooklyn project planned for completion by the 4th Qtr of 2020 is One Willoughby Square, located at 420 Albee Square. This 495 foot tall building will be 34 stories and will be the tallest new office building in Brooklyn with 500,000 square feet of class A office space. This project is being designed by FX Collaborative and developed by JEMB Realty.

Other developments in the pipeline for 2020 are:

7 Boerum Place, an Avery Hall Investments project, The Amberly located at 203 Jay Street, The Wheeler located at 422 Fulton Street, a Tishman Speyer project, 22 Chapel Street, developer OTL Enterprises, 211 Schermerhorn located at 215 Schermerhorn Street, Morris Adjmi Architects have designed the building, 11 Hoyt Street developer Tishman Speyer and The newest addition to the Ace Hotels is located at 266 Schermerhorn Street, developer GFI Capital. Ace Hotel owners are Roman & Williams, Robin Standefer and Stephen Alesch.

To be continued….

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

A few Brooklyn neighborhoods will be undergoing a zoning change in 2020:

Sunset Park- Industry City’s 35 acre campus will be rezoned. In October, owners Jamestown, Belvedere Capital and Angelo Gordon & Co. certified their rezoning application. The plan is to turn one of Brooklyn’s last waterfronts into a commercial destination. Andrew Kimball Industry City CEO says that “Industry City is willing to get done all that needs to get done in the next seven months”.

Gowanus is headed for a major rezoning which could transform an 80 block swath of low rise neighborhood into a hotbed of development projects. The 1st step is an environmental impact report which examines the potential impact of a land use change. Developers have been land banking properties for years in anticipation of the changes.

Bushwick residents have banded together and joined with City Councilmembers Antonio Reynoso and Rafael Espinal to craft a community led rezoning plan. Mayor Di Blasio’s administration has come up with their own rezoning proposal for Bushwick which differs from the community’s plan for affordable housing and manufacturing spaces. An environmental impact report is being prepared and the rezoning review process will begin next summer. Change is definitely coming to Bushwick.

Greenpoint has seen and will continue to see a gradual transformation and expansion with the introduction of new projects to the neighborhood. Greenpoint has for the most part has successfully retained a small village vibe with a real community feel. The addition of the NYC Ferry stop on India Street has improved transportation, made the area more accessible and has added to the neighborhood’s growth.

The next major project coming to Greenpoint is Greenpoint Landing’s 40 story, 421 unit Two Blue Slip which will also include a pair of waterfront towers with 745 rentals by OMA company founded by architect Rem Koolhaus. This is the firm’s 1st project in Brooklyn.

Greenpoint will also be seeing many boutique condo projects of 10 units or less which are moving forward and are expected to be completed in 2020.

To be continued…

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Happy Holidays Greetings & Wishes and Happy New Year 2020 filled with peace, hope, happiness and love!

We are thankful for the privilege to serve our clients, and their continuous support and business! Wishing great success in the year to come to all of us!

Sincerely,

Accord Real Estate Group Team of brokers and agents

According to Brick Underground, there are 15 companies currently operating the shared housing business in New York City. Jeff Holzmann, COO if iintoo, a global commercial real estate investment firm “one of the key elements that’s driving the demand for co living is technology, which co living’s key audience loves and depends on to navigate life in a way that previous apartment hunters did not”.

People can download an app and find co living quicker and easier than finding an apartment the traditional way. The gig economy has allowed that to happen.

Co living removes the politics and annoyance of splitting bills, keeping common spaces clean and furnishing an apartment. Everything is typically included in the month’s rent.

Some buildings offer minimum stays as short as 30 days or even a single night and many allow residents to hop from property to property. Some New York co living companies have thrived and others have failed.

The co living trend is attracting major investment dollars. Quarters, a co living company based in Europe (part of the Medici Living Group) recently raised $300M for an American venture. Co living company Common has partnered with Tishman Speyer to develop KIN, family oriented housing using co living principles. UK based The Collective is building the largest co living development in NYC in Brooklyn at 555 Broadway on the border of Bushwick and Williamsburg (opening in 2022) and has plans for other short stay co living projects in Bedford Stuyvesant and Long Island City’s Paper Factory.

Co living seems to fall into 3 categories, Full Service/large scale, Boutique and Budget.

Looking at affordable housing, The Department of Housing and Development is partnering with co living companies to make apartments with relatively reasonable rents. For example, The Collective’s project located at 555 Broadway in Brooklyn will put aside 30% of the 500 apartments toward affordable units. In East New York, co living start up Padsplit and Cypress Hills Local Development Corp will create 11 housing opportunities.

Today there are many different the lifestyle options offered by co living companies such as: Alta+ by Ollie, Common, Roomrs, Quarters, Outpost Club, Dwell, June Homes, Node, We Live, Tribe, Goal House, Outsite, Venn, The Assemblage and Aleph.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The outline includes new affordable housing developments, stricter zoning to curtail development and landmarking initiatives to preserve historic areas.

The new zoning laws would cover approximately 300 city blocks between Broadway, Cypress Avenue, Flushing Avenue and Broadway Junction. The plan creates opportunities for affordable housing units, Community and Commercial space along Broadway, Myrtle Avenue and Wyckoff Avenue. Plans for Knickerbocker, Central and Wilson Avenues will only allow medium density and mixed income housing. Plans for side streets and small corridors will limit building height and new buildings must conform to the height of neighboring houses.

The rezoning is estimated to result in a net increase of approximately 5,600 dwelling units, over 1.6M square feet of commercial space, almost 300,000 square feet of industrial space and nearly 250,000 square feet of community facility space. Future development is estimated to introduce nearly 18,000 new residents and 6,200 new workers to the area over the next 10 years.

The Bushwick anti gentrification community plan calls for a down zoning of the neighborhood. The community is battling against the displacement of low income communities of color in favor of luxury development. The community is looking for mandatory inclusionary housing, a program that dedicates a certain percentage of housing to “affordable units”.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

This September 2019 law requiring LLCs involved in residential real estate transactions to disclose the identities of all owners, managers and agents has been amended.

The State Department of Taxation and Finance issued a new memo changing this law after receiving tremendous pushback from real estate attorneys and other industry leaders regarding residential condominiums.

The original legislation did not include condominiums and at some point someone decided that condominiums should be included.

LLCs are commonly used in property transactions involving the purchase of condominiums by celebrities.

Real Estate professionals including brokers, agents, attorneys and certainly their buyers are happy about the walk back of the language of the new law.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Creating this hospitality experience as Hotel 1 has done requires large amounts of money, extensive and time consuming permitting, insurance and safety procedures.

Today, other rooftop revenue opportunities can be found in solar power, telecommunications, Rooftop Farms and Apiaries.

Rooftop Solar Systems are becoming more and more mainstream. The power produced from rooftop solar panels on large commercial and industrial buildings can be used by the building or sold to nearby residents, creating a new revenue stream for building owners.

New York City wants to increase the city’s solar energy production and is working with developers to support this technology.

Currently there are several large Commercial and Industrial buildings with rooftop solar farms. For example, Liberty Distributors located at 530 Cozine Avenue in Brooklyn, Budweiser Distribution Center located at 550 Food Center Drive in the Bronx and others in the Bronx and Staten Island.

Solar rooftop energy systems are a great investment for both large existing buildings and new construction. More and more Commercial and Industrial property owners will monetize their unused rooftop space with solar technology.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

It’s been a long time in the planning stages but at last The U.S. Environmental Protection Agency will begin it’s Superfund cleanup of the Gowanus Canal next summer.

On the issue of preserving the history of industry in Gowanus, last month the city’s Landmark Preservation Commission voted in favor of calendaring 5 properties in Gowanus as landmarks; The Gowanus Flushing Tunnel Pumping Station and Gate House located at 196 Butler Street; The Somers Brothers Tinware Factory (later Old American Can Factory) located at 238-246 3rd Street; The Brooklyn Rapid Transit Company (BRT) Central Power Station Engine House located at 153 2nd Street; The Montauk Paint Manufacturing Company building located at 170 2nd Avenue and The American Society For The Prevention of Cruelty To Animals (ASPCA) Rogers Memorial Building located at 233 Butler Street.

Local Council member Brad Lander said that he would push for additional sites identified by the Gowanus Landmarking Coalition, including the Roulston Grocery Warehouse located on 9th Street and 2nd Avenue and the R.G. Dun & Company building located on Nevins and Butler Streets.

The history of the neighborhood includes a Native American fishing ground site and a Revolutionary War Battlefield site that paved the way to a booming and vibrant port for the Shipping and Manufacturing industry, then an urban renewal area and finally the neighborhood that exists today.

As the city gets closer to formalizing the rezoning of Gowanus, some plans are being presented to provide waterfront protections by elevating land near the shoreline, affordable housing, new parks and bridges over the canal.

The rezoning draft covers the blocks bounded by Bond Street to the West, Baltic Street to the North, Fourth Avenue to the East and along the Southwest Brooklyn Industrial Business Zone to the South, near the Gowanus Canal and Seventh Street.

The new zoning would permit more mixed use buildings on Fourth Avenue and create a waterfront green space along the canal, as well as the redevelopment of a city owned lot located at the corner Smith and Fifth Streets into a mixed use, affordable housing building that includes retail and open space.

To Be continued…

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

This reporting requirement continues indefinitely until all private persons underlying any business entity within the ownership structure are identified. A business address for every party identified above must be provided.

The laws are being interpreted by County Clarks and Title Insurance Companies as applying to Condominiums and require disclosure of every individual with an interest.

The reason for these changes are that the Government Operations Committee determined that it was too difficult to hold people responsible for violations and mistreatment of tenants because it was challenging to track down specific individuals.

These changes will also allow the public to see who is buying or selling residential property in their area and make it easier for municipalities to enforce codes and rules more efficiently.

The law does not apply if the Grantor nor Grantee is a corporation, partnership or other legal entity. If a Grantee is an LLC of which corporations is a manager, then all shareholders of the corporation must be disclosed.

A potential problem is that the statute directs that the disclosure document must be filed with the tax returns, whether the return is filed with the State Tax Dept or with the County Recording Office. There is no word yet if and when recording officers will reject recordings for failure to have the required information attached to the TP 584 or NYC RPT Form.

To be continued …

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Yes, today many more people commute into Manhattan from the outer boroughs to their jobs than the number of people who work locally. However, there is a shift taking place with more and more people working from home or closer to home and taking advantage of ride sharing and designated bike riding lanes.

Neighborhoods like Coney Island and East New York, which are considered Transit Deserts, because they are at least a 15 minute walk to the nearest subway are where hundreds of apartments are being built and attracting buyers and renters who are looking for more affordable housing and attracting developers in search of lower priced land to build on because they are being priced out of expensive land development opportunities closer to transportation.

According to Localize City, a housing data and listings portal, residents and builders are getting pushed farther from transit hubs.  7 out of 10 neighborhoods with the most new units being built in remote locations, the rate of growth in the faraway corners was faster than in more commuter friendly parts of the neighborhood. The demand for middle income housing is making more distant development sites viable.  Many new buildings are addressing the housing needs of the outer borough work force.

New developments in transit deserts have also attracted New Yorkers who don’t fear a longer and non traditional commute.

Dean Taucher, the production designer for the TV series “Law & order” special victims unit, made the move to Red Hook Brooklyn after being fed up with the touristy vibe near his home in the Chelsea neighborhood of Manhattan. Mr. Taucher says “Red Hook is more of a sleepy seaside village”.

News and events blogger Guzov suggests that there is good potential for significant investment in transit desert neighborhoods that overlap with opportunity zones. Investing in these zones have tax incentives and are linked to low income areas with the intention to spur reinvestment of profits into economic development.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

According to The Real Deal Real Estate News publication, Industrial portfolio deals are on a pace to break a record this year data shows.

Industrial real estate has attracted investors and developers who want to get in on the e commerce and storage boom.

In New York, increased interest in Industrial properties near major urban centers has let developers to construct multi story warehouses. For example, the biggest multi story warehouse in the U.S. is planned for Brooklyn. Bridge Development partners and DH property Holdings have joined forces to acquire an 18 acre site in Brooklyn where the plan is to build a 4 story, 1.3M square foot distribution center. The joint venture backed by equity partner Banner Oak Capital Partners acquired Sunset Industrial Park along the Gowanus Canal for $255M from The 601W Cos. The JV expects to begin ground up construction before the end of 2020.

In June of the year Blackstone Real Estate Advisors spent $19B on an industrial portfolio, the biggest portfolio deal ever. According to Blackstone executive Nadeen Meghji “we are seeing accelerating demand for warehouse space in dense population centers, as goods move online and retailers and consumers alike seek faster delivery times”.

Ari Mir, Co Founder and CEO of Clutter, an on demand- self storage start up company has just purchased a 4 warehouse portfolio in New York for $152M. The properties that total 500,000 square feet are in Brooklyn, LIC, White Plains and Yonkers. Mr. Mir states that “our goal is to use our understanding of technology to innovate in a category that has seen very little technological investment in the past few decades”.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Growing up in Sheepshead Bay in Brooklyn was great! We had a bike path to the Rockaways (my 1st big adventure), fishing off of the piers on Emmons Avenue and empty lots to run around in.

Now, after decades of delay the City is finally moving forward on a new Sheepshead Bay park. Superstorm Sandy delayed construction of Brigham Street Park but the $6.15M park is projected to be completed by May 2020.

One civic leader Mr. Borko says “ let’s hope that they don’t forget this community’s roots and they include a fishing dock and bathrooms”. Another local civic leader demanded city planners include what would be the city’s first public boat launch.

A Parks Department spokeswoman said “the new space will feature a number of state of the art facilities including a new playground, swings, a spray shower area, a hillside slide, a picnic area and more when the park opens to the public next Spring.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Here are the facts: 20% of U.S. energy use goes toward powering Commercial buildings. Yet, only 15% of U.S. commercial buildings have building automation systems that control lights, heating or cooling rooms.

To bring awareness of the importance of energy conservation in Commercial buildings, The Building Owners and managers Association (BOMA) International released its top 10 ways for building owners and managers to reduce energy consumption. These no or low cost strategies could possibly reduce energy consumption by as much as 30 percent.

Some of these energy saving strategies are:

The vital components of all Commercial buildings are hot air ducts and hot and cold air ventilation systems. Properly insulating this equipment is very important.

Check to make sure that equipment is functioning as designed for example a loose fan belt requires more energy to run a fan than a poorly adjusted belt, according to Sam Schnell, consulting engineer with Sesco Inc.

Coordinated Effort can save energy by the Janitors and Security crew working together to walk through the building to turn off equipment left on by the tenants.

Keep tenants informed about energy saving goals.

Installing power management software for computer monitors, central processing units and hard drives. It costs U.S. companies $1B a year on wasted electricity. Changing lighting from incandescent lights to fluorescent lights that use less energy is a great strategy, especially if retrofitting new lights may be tax deductible.

Adjust building operation hours to reflect actual tenant usage.

Adjust ventilation in unoccupied and low density areas.

The Building Technologies Office (BTO), an office of the U.S. Department of Energy works to develop strategies and technologies to reduce Commercial buildings energy consumption. Unfortunately, these strategies are underutilized by the market. BTO is targeting a 20% energy use reduction in Commercial buildings by 2020. BTO reaches out to building owners, builders, engineers, architects, contractors, manufacturers and others to implement energy saving strategies.

The potential to reduce energy consumption on new and existing buildings is enormous, Jennifer Hermes writes that recovering wasted energy expense is a $750B opportunity. The U.S. Dept of Energy estimates that the cost of the $60B waste, at an 8% capitalization rate represents $750B of lost asset value. For example, increased NOI translates into increased asset value.

The message from the DOE is that when owners take charge by setting goals, energy cost savings happen. Owners should conduct a hands on assessment using benchmark data from Energy Star or Zero Touch. To achieve the best return on investment owners should compare a full array of alternate solutions.

Another suggestion is using cloud based software to prepare simple professional recommendations.

The U.S. DOE software guide provides a detailed description of new cloud based software that makes reducing commercial energy bills simple.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

A 2004 rezoning of Downtown Brooklyn, NY was originally meant to promote more commercial development such as office and cultural projects. Instead, the rezoning put into motion a huge wave of residential development. The city has anticipated 979 new housing units and 11,000 + housing units were created as of 2016 according to a report from Brooklyn Borough President Eric Adam’s office.

Interestingly, commercial property developed as of 2016 stood at 1.3M square feet, far short of the anticipated 4.6M square feet of commercial property development.

Downtown Brooklyn, NY is experiencing tremendous demand because of the many lifestyle options available, the convenience of access to 13 subway lines, proximity to the Brooklyn Cultural District (formerly called BAM) and bordering the very beautiful, charming and historic neighborhoods of Cobble Hill, Boerum Hill and Brooklyn Heights.

Jamie Anthony principal of Lonicera Partners which has developed 13 projects in the Downtown Brooklyn area says that “there is much more high density residential development in Downtown Brooklyn build over the last decade”.

Along the Schermerhorn Street corridor which runs into Brooklyn Heights there are several large scale apartment and condo projects that have been developed in the last 10 years.

There are literally hundreds of condo and coop apartments on the market for sale in Downtown Brooklyn.

 The availability of apartments  is excellent with 54+ Downtown Brooklyn, non doorman rental buildings and 14 Downtown Brooklyn Doorman rental buildings.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Industry City, once desolate rows of huge old forgotten buildings has been transformed into a magnetic and vibrant center for food, shopping, innovation and the home of hundreds of companies big and small growing their businesses.

Industry City wants to grow and evolve it’s 35 acre, 6M square feet in 16 buildings of space and invest another $1B into new uses which include large retail stores, 2 hotels and academic space. The first step in a 10 year plan is to get a zoning change.

The certified rezoning from The Department of City Planning will come before the community board this month or next.

One issue that’s being raised by the community is the type of jobs that Industry City plans to create.  Local residents of Sunset park want jobs that provide a step ladder that helps people to get a leg up.

Andrew Kimball, CEO of Industry City has responded by saying that the new data with a more in depth look at the types of jobs to be created will be published soon.

A recent update indicates that a deal has been reached with Industry City that would let the owners begin the process to rezone it.

The partnership of landlords that control Industry City including Jamestown, Belvedere Capital and Angelo Gordon will set aside hundreds of thousands of square feet for manufacturing, create a vocational school, help to beautify the street scape of the area and make other concessions to allow the rezoning to proceed.

Specifically, the deal will require Industry City to reserve up to 900,000 square feet for manufacturing and lease a portion of that space to a non profit (not determined yet) focused on creating local jobs.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Some of the changes in the new law are:

Repeal of provisions that remove units from rent stabilization when rent crosses a high threshold or when the unit becomes vacant or if the tenant’s income is $200,000 or higher in the preceding 2 years.

The elimination of the “vacancy bonus” provision that allows a property owner to raise rents as much as 20% each time a unit becomes vacant.

Tenants in rent regulated apartments would see an end to big rent increases under the new legislation. The Rent Guidelines Board will continue to determine yearly increases on rent stabilized units.

Security deposits are now limited to one month’s rent.

Unlawful evictions are subject to a fine up to $10,000.

If a tenant has been evicted, judges are now permitted to postpone the eviction for up to one year.

Mayor Bill Di Blasio calls the new law “a remarkable achievement that will halt displacement, harassment and unjust evictions”.

Senate Majority leader Andrea-Stewart Cousins and Assembly Speaker Carl Heastie touted the new law as “the strongest tenant protections in history”.

New York City landlords have a different take on the new law. According to Joseph Strassburg, President of the Rent Stabilization Association which represents 25,000 landlords, “buildings will fall into disrepair, owners will not have the funds to make necessary repairs to their aging buildings and thousands of local jobs will be lost”.

From a Real Estate brokerage point of view, according to MNS CEO Andrew Barrocas, “the new rules will discourage investment in NYC rental buildings, many of which are more than a century old”.

Some experts predict that the NY housing market overall could be depressed because the resale market for rent regulated apartments would lose value as a result of the changes.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

One of the top deals of the year so far in 2019, went to the Holterbosch family, a German beer dynasty, which purchased 100 South 4th Street, a rental building located in Williamsburg from Meadow Partners for $61M.

Another sale of note so far this year is 1000 Dean Street a 4 story commercial building located in Crown Heights. The 145,931 square foot building sold for $60M. The seller is Jonathan Butler and the buyer LIVWRK. 

1007 Atlantic Avenue, located in Clinton Hill sold for $26M. This mixed use building was purchased by Classon Management LLC from Sterling Equities.

240 Broadway, a mixed use building located in Williamsburg, sold by Abraham Russak to 240 broadway LLC for $20M.

195 Bond Street, a 9,000 square foot church located in Boerum Hill sold for $10M. The seller is United Methodist City Society and the buyer Tankhouse, a New York based design-development firm.

One additional sale of note is the sale of 1487 Broadway, a 4 story, 15,753 square foot, mixed use building with 17 apartments and 3 stores located in Bushwick. The building was sold to Pliskin Realty & Development for $11M.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Airbnb has revolutionized how people experience their travel destinations. By offering many options in residences and offering accommodations to suit every lifestyle, a traveler can feel like a local wherever they travel. The value of an Airbnb experience compared to a hotel stay is night and day. Hotel rooms or suites are small and expensive. Airbnb provides the traveler with a home away from home at a good value.

Airbnb has acquired Urbandoor which focuses on business travelers and negotiates directly with multifamily owners rather than renters. Urbandoor’s proposition is that extended stay rentals are beneficial to owners. Airbnb benefits from the acquisition by increasing their supply of residences for the work side of the business which is growing. According to Airbnb, 500,000 companies use their service plan for business travel.

Urbandoor’s business model includes apartment communities in more than 1,500 cities across more than 60 countries around the world.

To Airbnb’s advantage, Urbandoor has built relationships with multifamily owners for the purpose of extended stay. Now that Airbnb has acquired Urbandoor, they may be able to convince some owners of the value of setting aside units for short term stays.

Erik Eccles, Urbandoor Co Founder says “we started Urbandoor because we wanted to connect traveling and relocating professionals with the right apartment everytime, anywhere”. “joining the Airbnb family will help us make good on our goals and expand our work with multifamily and corporate housing partners to bring even more great places to stay to Airbnb travelers.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

15 Winners and finalists were selected in 5 categories: new construction, retrofit, amenities, décor and collaborative space.

The winner for coolest retrofit is BSE GLOBAL, located at 168 39th Street, Brooklyn/ Industry City. BSE GLOBAL took an older space and made it cutting edge. The sports team and venue management company opened it’s 79,000 square foot Industry City office last June. The space contains a town hall, a game room and bleacher seating for large events. Employees can work from their desk or in common areas with panoramic harbor views. Architect TPG Architecture and Contractor JRM Construction Management.

The winner in the coolest collaborative space category is M Moser Associates, an Interior Architecture firm, located at 100 Broadway. Their desks, couches and chairs can be reconfigured easily for presentations and meetings.  A finalist in this category is AECOM, located at 220 36th Street, Brooklyn/Industry City. AECOM’s converted warehouse made the cut thanks to its large counter height tables, open lounge area and abundant board space for employees to work together. Architect AECOM Interiors & Industry City and Contractor WJP Builders Corp & Industry City.

In the coolest décor category, BOOKING.COM took the top spot. Their 53,000 square foot workspace has Meeting rooms named after streets and neighborhoods in the 5 boroughs and large photos of the Coney Island Cyclone and other city hot spots. The online hotel reservation company also tried to capture parts of the city by commissioning a graffiti mural near the elevators. A finalist in this category is WHAT IF, located at 219 36th Street, Brooklyn/Industry City. Plant life is not very plentiful in New York offices, but WHAT IF’s 14,500 square foot Brooklyn space is filled with plants and wood furnishings creating an atmosphere in tune with nature. This management consulting firm’s office windows have impressive views of The Statue of Liberty & the harbor. Architect Design Republic and Contractor SPK Lewis.

The winner in the category of coolest amenities is The Campari Group, located at 1114 Sixth Avenue in New York. The Italian spirits distributor relocated its North American HQ from San Francisco to The Grace building in Midtown Manhattan in November, constructing an experiential office. There are 4 bars offering Campari products to employees and guests and an innovation lab, where mixologists and visiting brand ambassadors create craft cocktails. Away from the main space, employees can work in an open layout at unassigned desks. Architect Gensler and Contractor J.T. Magen & Co.

The winner in the category of the coolest new construction is IEX GROUP, located at 3 World Trade Center/ Financial District. This company’s new office has a futuristic feel, with a silver sheen across the 44,000 square foot space, with vast meeting spaces. IEX GROUP may be the future of trading.

In an effort to create both a cool and productive office environment, employers are looking to technology to help them craft a smart office. For example, employers want to know which sections of the office see the most foot traffic and there are phone tracking beacons that monitor how employees interact. Technology can identify patterns and offer solutions from data gathered.

Scott Rechler, chairman & CEO of RXR Realty, one of the city’s largest landlords says “tenants want their needs anticipated before they even know they want something and the only way to do that is through tech”.

Co working firms have been early adopters of smart tech, because they operate in an especially competitive segment of the office market where innovation is considered essential to attracting tenants.

Analyzing how a tenant uses office space is not just for companies obsessed with peak productivity. The technology is an increasingly necessary component in helping employers pack in more workers per square foot, a cost cutting measure many businesses have taken in the city in recent years. Technology is helping office tenants thread the needle, giving them real time data on employee behavior and productivity to create or adjust layouts and compensate for tighter confines.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The work of consistently doing the tasks to become a success in real estate can be tedious and painful until you become experienced to the point where you have honed and fine tuned your skills and you are experiencing a consistent cash flow of commissions from closings.

Even when you become skilled at what you do whether a marketing consultant representing sellers or a buyer's agent, it's always a hustle and many times tough to handle if you don't have the experience, stamina and the right business and personal attitude. Also, it is critical to keep in mind that when you are working in real estate brokerage, your income is commission based only. As the expression goes, you eat what you kill.

It is also important that you understand that no matter how smooth, straightforward or simple a transaction looks up front, the sale process is ALWAYS a roller coaster ride. Why? The answer is people. Most people involved in real estate transactions, whether buyer, seller, mortgage broker, inspector, attorney, agents or brokers, no one is perfect and mistakes and stuff happens!

An experienced real estate broker or agent must always remain steady, level headed, patient and focused on keeping the transaction on track and all parties calm in order to close and collect your hard earned commission. Moving a transaction through the sales process is usually not smooth. You should take my word for it.

My name is Jeff Grandis, I am a Broker/Owner of Accord Real Estate Group along with my business part ner Anna Kader. Together with our real estate agents we are Brooklyn realtors meaning that we are affiliated real estate professionals who are a member of the National Association of Realtors (NAR). i've been brokering real estate transactions large, small and everything in between for the last 32 years. Like the Television commercial says " I've seen a thing or two".

You must try to keep in mind that in the real estate brokerage business whether it is in Brooklyn, NY or anywhere else every client is different, every customer is different, every property is different, every transaction is different and every day presents a great opportunity to grow your business and establish your unique brand of doing business. 

There are no if's, and's or buts about it, real estate is an intensely eyeball to eyeball people business where you are connecting with many different kinds of people. If you don't enjoy dealing with many different kinds of people, respecting and appreciating their individuality, real estate brokerage is not for you. Find another profession that uses your unique skill set. 

To summarize, for me, there is no better business than the real estate brokerage business, when it's working well. That's entirely up to you. Good luck!

In the mean time if you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

New York has the largest pool of people with a Life science background.

Building owners and developers recognize this trend and opportunity and are planning to accommodate NYC Biotech and Pharmaceutical tenants.

For life science real estate developers this type project means selecting a top team of life science real estate consultants, architects and engineers collaborating to a successful completion.

Tishman Speyer a New York based developer and operator of commercial properties, has partnered with Bellco Capital, an investment company founded by Drs. Arie & Rebecka Belldegrun to form Breakthrough Properties. Their goal is to develop and operate life science properties in technology centers around the world. The focus will be on research in biotechnology, developing medical treatments, agriculture & nutrition.

Life Science innovation is happening at a fast pace as technology and science continue to merge.

Currently New York has approximately 21 Life Science and Biotech Center buildings. A few of them are: Weill Cornell Medical College, NYU Langone Medical Center, Mount Sinai Beth Israel and Eli Lilly and Company.

New York City is perfectly positioned for major success in the life sciences industry with world renowned research, talent and resources that no other city can offer.

Some of the other commercial real estate companies looking to bring life science tenants to the city are Taconic, Silverstein & Alexandria, Vornado Realty Trust and Related Companies.

Bio Labs managing director Nicole McKnight says “the amount of research coming out of the city’s universities, combined with the capital here are all the ingredients to put New York in the top 3 Nationwide with San Francisco and Boston”.

Taconic’s Weir says “New York City’s # 1 asset is it’s talent, that’s why we believe this market will ultimately be very successful’.

Brooklyn currently has a life science facility located in the Brooklyn Army Terminal at 140 58th Street, building A.

There is a planned life science building to be located at the Brooklyn Navy Yard, 63 Flushing Avenue, building 77.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

While not confirmed, The Real Deal is reporting that Joseph Sitt’s Thor Equities is scrapping plans for a Norman Foster designed office complex on the Red Hook waterfront to build an industrial distribution center there instead.

According to Marvin Schein of Salmar Properties “Amazon, Best Buy, Net a Porter, all of these retailers are looking for industrial space that’s centrally located in the New York City and has easy access for loading and unloading”. That’s what’s happening throughout the country.

According to JLL “95% of the roughly 2.5M square feet of industrial space leased in New York in 2018 was for e Commerce and Logistics companies”.

There’s now more than 700,000 sq feet of new warehouse and other industrial space being built throughout the city and another 4.8M feet proposed.

According to Pricewaterhousecoopers, 41% of consumers are willing to pay extra for same day delivery and another 23% would pay extra for delivery in 3 hours or less.

DH Property Holdings plan to accommodate last mile deliveries is to build a new 4 story distribution center at the 18 acre Sunset Industrial park in Brooklyn. Once the 1.4 M square foot facility is completed, delivery trucks will be able to drive up ramps and load and unload on each floor.

Andrew Chung of Innovo Property Group says "he sees modern industrial real estate as the biggest growth opportunity across all commercial property types. E Commerce is 10-12% of all retail and it’s growing in the double digits. We don’t see this slowing down at all”.

New York City is at a turning point with the rise of eCommerce and consumer needs. Over the last 2 decades Amazon has become America’s solution for almost anything and everything and fast. Consumers want it now, but our infrastructures have not yet adapted, which leads to the resurrection of the Urban Warehouse.

Currently 25-30% of warehouse space in the U.S. is devoted to e Commerce and the number is expected to rise. In NYC especially there is only so much available space/land within close promimity to the urban core that can be equipped to handle our modern delivery needs.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Wishing everyone a very Happy Independence Day!

On this special day we pay homage to those whose sacrifices made today a reality.

Have a great and safe 4th of July!

Many CRE (Commercial Real Estate) investors currently rely upon their relationships, instincts, market knowledge and available data to base their decisions when purchasing Commercial properties.

Deloite Insights reports that the reason why CRE investors use their “gut instincts” to invest is out of habit as a way of using trusted relationships to gain insights and information on a potential property of interest.

Today, many investors rely more and more on a wide range of reliable data available such as lease spreads, lease comps, market demand, social media, satellite imagery, diagnostic analytics and other data, to help in their decision making process.

Depending on the investors target property type or business model, whether traditional or a newer business model such as Co living and Co Working, there may be limited data to track a record of performance and returns.

Some examples of companies which have harnessed alternate data sets and used data analytics about millennials and digital nomads and how they live and work and have invested in this growing and dynamic new business model of Co Living and Co working are:

Common, We Work We Live, Alta, Durst Organization, Property Markets Group, The Collective, Sun & Co, Roam, Medici Living, CoWoLi, Urban Campus, Zoku, Outsite and The Camp.

Yes, investors using their gut instinct will always be a part of the equation when making investment decisions, but more and more real estate investors are embracing a data driven mindset as a critical part of their decision making process.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn, New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Brokers and Agents

Just a few Brooklyn neighborhoods hold the distinction of being the most expensive Brooklyn neighborhoods for 2018 and 2019 based on median sales price.

Fort Greene topped the list in 2018, and The Columbia Street Waterfront District topped the list in 2019. The other Brooklyn neighborhoods that made the list in both 2018 and 2019 are Carroll Gardens, Dumbo, Greenpoint, Park Slope, Manhattan Beach, Gowanus and Boerum Hill.

In terms of the top neighborhood to watch in 2019, it’s no surprise that Downtown Brooklyn took that spot according to Streeteasy. Downtown Brooklyn has the highest asking rent, median sales prices, user searches and new construction units to choose from.

Downtown Brooklyn is attracting buyers and renters from other Brooklyn neighborhoods with luxurious new buildings, easy access to several subway lines and comparable prices to Williamsburg.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn, New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Brooklyn, New York is leading the way to accommodate this new Innovation Economy with the formation of The Brooklyn Tech Triangle. The Brooklyn Tech Triangle is an alliance of 3 dynamic organizations in Downtown Brooklyn, Dumbo and The Brooklyn Navy Yard. The BTT is a result of brilliant strategic planning by the Downtown Brooklyn Partnership, Dumbo Improvement District and The Brooklyn Navy Yard Development Corporation.

The Downtown Brooklyn Partnership a non for profit is a local development corporation that is the driving force championing Downtown Brooklyn as a world class business, cultural, educational, residential and retail destination. The Downtown Brooklyn Partnership functions to attract new investment and improve the environment for existing companies.

The Dumbo Improvement District is a non profit organization which functions to promote the quality of life in Dumbo and advocate on behalf of Dumbo’s businesses, non profit organizations, cultural organizations, property owners and residents.

The Brooklyn Navy Yard Development Corporation is a non profit company that manages The Brooklyn Navy Yard on behalf of The City of New York. The goal of the BNYDC is to creat jobs and connecting the local community with the economic opportunity and resources of the yard. The Brooklyn Navy Yard has become a model for sustainable urban industrial parks and home to manufacturers that are tech driven and socially responsible.

The goal of these organizations is to foster the economic development of these neighborhoods with their own specific challenges.

Since 2013 when the plan was first introduced to form the Brooklyn Tech Triangle, the Triangle has grown stronger than ever with 1,300+ innovative companies and 20,000+ jobs created. By the year 2025 it is projected that there will be 53,000 employees and an economic impact of $15.5 Billion being generated from The Brooklyn Tech Triangle.

If you are interested in selling your property or you know someone who is planning to sell their New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Realtors

Strong demand is fueling the rise of several key Brooklyn neighborhoods such as:

Sunset Park, where Industry City has grown to over 450 companies with 6,500 jobs and a great housing stock at reasonable prices compared to nearby Park Slope and Cobble Hill.

Bay Ridge, where competitive pricing on housing coupled with the beautiful parks, great shopping, many great restaurants and nite life are making Bay Ridge a popular choice for buyers and renters.

Gravesend where walkability, attractive purchase prices have contributed to the areas growth.

Flatbush and East Flatbush, where a wide variety of lifestyle choices such as Condo, Coop, Single family house or Multi family house and great pricing have fueled growth and have caught the attention of developers interested in building luxury rentals, new condominiums, mixed use buildings and affordable housing.

Greenpoint which has housing choices that are less expensive than Williamsburg, with larger spaces, great views of Manhattan, the NYC Ferry at India Street, great restaurants and great walkability is growing rapidly.

Some other key Brooklyn neighborhoods to keep an eye on are Sheepshead Bay, Brighton Beach, Coney Island, Midwood, Prospect Lefferts Gardens, Kensington and East New York. 

If you are interested in selling your property or you know someone who is planning to sell their New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Real Estate Brokers and Agents

Washington heights is located on the North end of Manhattan from 190th Street to 150th Street. It is bounded by the Harlem River to the East and the Hudson River to the West.

Washington heights has been hailed as the new hipster haven. There are more millennials in Washington Heights than any other New York neighborhood including Bushwick, Crown heights and Williamsburg.

Washington Heights draws nearby Columbia Medical school students, professors, young professionals and young families with children.

By day, locals and tourists visit 8 parks in Washington Heights. Historic Bennett Park is located at 183rd Street and Pinehurst Avenue. The park was once home to the Munsee Native Americans and the headquarters for George Washington’s army during the revolutionary war. It is here that you can visit the highest natural point in Manhattan at 265 feet above sea level. Other must see attractions are the Little Red Lighthouse, directly under the George Washington Bridge and the High Bridge and the High Bridge Water Tower at West 172nd Street.

Throughout the year, there are festivals and cultural celebrations. The high Ecuadorian, Dominican and Mexican population means a lot of delicious food is being served in local restaurants.

Subway service consists of the 7th Avenue-Broadway Line, #1 train with stations at 157th Street, 168th Street, 181st Street and 191st Street. There is also the 8th Avenue line, A and C trains at 155th Street, 163rd Street – Amsterdam Avenue and 168th Street. The C ends at 168th Street. The A continues and stops at 175th Street, The George Washington Bridge bus Terminal, 181st Street, 190th Street and Dyckman Street.

Washington Heights has good schools. Some of them are:

Washington Heights Expedition School located at  511 West 182nd Street, serving  grades Pre K – 3 and 6-12.

Gregorio Luperon High School For Science and Mathematics located at 501 West 165th Street.

High School For Law and Public Service located at 549 Audubon Avenue.

Patria Mirabal Middle School located at 21 Jumel Place, serving grades 6-8.

P.S. 513 Castle Bridge School located at 560 West 169th Street, serving grades Pre K and K-5.

High School For Health Careers and Sciences, located at 549 Audubon Avenue.

Real Estate values in Washington Heights are higher than ever before with no end in sight to this uptrend.

Some examples of asking prices in today’s market are the following:

For Co op apartments with 2 rooms and 1 full bath, asking is $239,000, for a 5 room, 3 bedroom and 1 bath, asking is $275,000, for a 550 square foot, 4 room, 2 bedroom and 1 bath, asking is $288,000, for a 2 room studio with 1 bath, asking is $315,000, for an 805 square foot, 3.5 room, 2 bedroom and 1 bath, asking is $425,000, for a 710 square foot, 3 room, 1 bedroom and 1 bath, asking is $495,000, for a 4 room, 2 bedroom and 1 bath, asking is $670,000, for a 5 room, 2 bedroom and 1 bath, asking is $749,000, for a 1,000 square foot, 4 room with 2 bedrooms and 1 bath, asking is $799,000, for an 4.5 room, 2 bedroom and 1 bath, asking is $835,000, for a 1,250 square foot, 7 room, 2 bedroom and 2 bath, asking is $915,000, for a 1,470 square foot, 5.5 room, 3 bedroom and 2 bath, asking is $1.295M and for a 1,275 square foot, 5 room, 3 bedroom and 2 bath, asking is $1.445M.

For a Condominiums with 1,015 square feet, 2 room with 1 bedroom and 1 bath, asking is $550,000, for a 649 square foot, 3 room, 1 bedroom and 1 bath, asking is $598,000, for a 565 square foot, 3 room, 1 bedroom and 1 bath, asking is $678,500, for a 757 square foot, 4 room, 2 bedroom and 1 bath, asking is $799,000 and for a 1,049 square foot, 4 room, 2 bedroom and 1 bath, asking is $885,000.

For a 2 family home with 7 rooms, 4 bedrooms and 2 baths, asking is $1.2M, for a 2,400 square foot, 12 room, 5 bedroom and 3.5 bath, asking is $1.4M, for a 3,470 square foot, 15 room, 6 bedroom and 4 bath, asking is $1.425M, for a 3,213 square foot, 12 room, 5 bedroom and 3.5 bath, asking is $1.899M, for a 3,472 square foot, 9 room, 5 bedroom, 4.5 bath, asking is $1.998M and for a 4,552 square foot, 10 room, 6 bedroom, 4.5 bath, asking is $2.795M.

For a 3 family house with 2,052 square feet, 9 bedrooms and 4+ baths, asking is $2.150M.

For a 6 family house with 4,400 square feet, 16 rooms, 6 bedrooms and 6+ baths, asking is $3.3M.

For an 11 family house with 2,880 square feet, asking is $2.750M.

There are good restaurants in Washington Heights. Some of them are:

The Pandering Pig, located at 209 Pinehurst Avenue, serving French Cuisine.

Saggio located at 827 West 181st Street, serving Southern Italian Cuisine.

Blue Mountain Heights located at 499 West 158th Street, serving comfort food.

El Malecon located at 4141 Broadway at West 175th Street, a Latin American Restaurant.

Burger Heights located at 177 Wadsworth Avenue, between 181st Street and 182nd Street, The Shake Shack of Washington Heights.

Grito Mexican Grill located at 1555 Saint Nicholas Avenue, for top knotch food and drinks.

Las Tapas located at 187th Street serving great food.

Las Palmas located at 3891 Broadway at 161st Street, a hidden gem serving Mexican Cuisine.

Carrot Top Pastries located at 3931 Broadway at 166th Street, serving great carrot muffins and great sandwiches.

Accord Real Estate Group has been hired to exclusively represent a Development Opportunity assemblage of 3 properties on West 158th Street and Riverside Drive. For more information, visit our website accreg.com and click on featured properties, investment category for property details and pricing information.

If you are interested in selling your property or you know someone who is planning to sell their New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

The Hudson Company’s The Clark, a 420 unit project is located at 310 Clarkson Avenue will open in 2 phases. One phase will be completed shortly and the 2nd phase will be completed by 2020. The units will be market rental from studio apartments to 3 bedroom units, all with high end finishes and appliances and offer a full suite of amenities. Studio units will rent for $1,900/mo and 1 bedroom units will rent for $2,300/mo. The ground floor has been leased to Walgreens drug store and a small supermarket is being considered for the other ground floor space.

Lincoln apartments, a 2 building rental project will have 141 units, 30 of which will be affordable. The 1st building is located at 510 Flatbush Avenue and the 2nd building is located at 33 Lincoln Road. The units will have high end finishes and amenities will include  a gym and a roof deck. Studio units will rent for $2,199/mo and 1 bedroom units will rent for $2,800/mo.

123 Linden Boulevard, between Bedford Avenue and Rogers Avenue is planned for 26 stories and 469,000 square feet. Hill West Architects have designed the building and Moinian Group and Bushburg Properties are the developers. 369,000 square feet will be used for residential use. There will be parking for 288 cars and 192 bicycles. A full suite of amenities will be offered, including an indoor and outdoor pool.

Another Hudson Company project will be located at 350 Clarkson Avenue, designed by Cetra Ruddy Architecture. The building will consist of 227,000 square feet, with 250 rental units, office space, ground floor retail and a potential community facility. A full suite of amenities will be offered.

Developer Eli Karp’s project Hello Nostrand will be located at 1580 Nostrand Avenue. The building will be 6 stories with a central landscaped courtyard. There will be 209 rental units from 2 to 4 bedrooms and a 2 story community facility. Vincent Martineau is the architect.

Many other projects are planned for Prospect Lefferts Gardens for example:

171 Linden Boulevard 31 units, 143 Winthrop Street 10 units, 319 Lenox Road 28 units, 256 and 258 Winthrop Street 16 units, 246 Maple Street 8 units and 1935 Bedford Avenue 44 units.

Accord Real Estate Group is currently marketing 322 Empire Boulevard, between Rogers Avenue and Nostrand Avenue. 322 Empire Boulevard is a 3 story mixed use building with a store and 2 two bedroom apartments. The zoning is  R-7-1. The # 2 and # 5 trains are just around the corner on Nostrand Avenue. The asking price is $1.469M.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

There are approximately 8,700 opportunity zones throughout the United States. The New York State is participating in the  New Community Development Program Opportunity Zone program.

A law that arose from this opportunity zone program allows taxpayers to postpone taxes on profits from the sale of any property until 2026, on the condition that the profits from the sale are reinvested in an opportunity zone fund. This fund in turn invests the capital into businesses in a targeted community. Any gains that arise from investing in the fund are tax free only if the fund is held for 10 years.

In New York City, opportunity zones present investors with a way to reach higher returns by developing projects like affordable housing.

Lenders will be more likely to underwrite loans for these projects and areas because of the incentives and the program offers increased benefits to those who invest in these zones for at least 10 years.

Opportunity zones offer developers and investors a diverse collection of assets to invest in. From housing to offices and hotels, opportunity zones are poised to bring renewed growth across the city’s forgotten neighborhoods.

The Brooklyn neighborhoods where opportunity zones can be found are: Sunset Park, Bushwick, Bedford Stuyvesant, Crown Heights, Prospect Lefferts Gardens, East New York, Greenpoint, Williamsburg, Dumbo, Brownsville, Flatbush, Red Hook, Gowanus, Bay Ridge, Bath Beach, Bensonhurst, Borough Park, Coney Island, Brighton Beach, Cypress Hills and the Brooklyn Navy Yard.

Despite a big push from developers, accountants and law firms, investors are hesitating before jumping into opportunity zone funds according the wealth advisors.

To reap the entire tax benefit, investors have to buy into eligible projects by the end of 2019.

Co living houses enable a sustainable style of living through sharing and efficient use of resources and space. Co living offers residents a chance to live and work where they choose without having to spend their entire budget on rent or all their time on a lengthy commute.

By asking tenants to live in a smaller furnished private bedroom and share common space and expenses such as cleaning and WiFi, co living can provide residents with more affordable access to great neighborhoods.

According to the Wall Street Journal, a number of recent projects show that co living is expanding. For example, there is a new Brooklyn based project in the works by London based Collective, Common Adams. According to JLL research, of the available investment grade co living supply in the US, 55.1% was delivered in 2018. Statistics indicate that by 2021, the co living supply is expected to increase 84%. Millennials are demanding alternate living options, as well as young professionals that take short term assignments in new markets.

Co living is a new answer to the issue of affordable housing as well as a good way to continue your professional and personal growth outside the office. Co living is a new kind of modern housing where residents with shared interests, intentions and values share a living space where they’re like a big family.

Some of the companies catering to the housing needs of today’s digital nomads are:

Common, We work We live, Alta, Durst Organization, Property Markets Group, The Collective, Sun & Co, Roam, Medici Living, Co Wo Li, Urban Campus, Zoku, Outsite and The Camp.

Accord Real Estate Group

Your Brooklyn Real  Estate Brokers and Agents

A few local spots that capture the feel of Park Slope South are for example Roots Café, located at 639A 5th Avenue. Roots Café is the South Slope’s meeting place for artists and writers. Great coffee is served as well as breakfast and lunch options all day long. Another great South Slope find is m.a.e. a vintage clothing and consignment shop located at 461 7th Avenue. M.a.e. is chock full of designer finds. You may develop an appetite in your trek around South Slope and Café Steinhof is the perfect restaurant to have a bite and brew. You can dine on weiner schnitzel, cheese spaetzle, a great sausage selection and more.

New Construction -The South Slope, originally known as South Park Slope, Brooklyn NY 11215

New Construction -The South Slope, originally known as South Park Slope, Brooklyn NY 11215

South Slope, - Old Architecture

South Slope, - Old Architecture

The residential real estate market in the South Slope is hot with high demand for housing in this wonderful Brooklyn, NY neighborhood. Some examples of asking prices in today’s market are:

For a 1 family home with 1,244 square feet, 3 bedrooms and 1 bath, asking is $1.388M or a 1,417 square foot, 3 bedroom and 3 bath, asking $2.350M.

For a 2 family home with 2,208 square feet, 6 bedrooms and 2 baths, asking is $1.695M, for a 6 room, 3 bedroom and 2 bath, asking is $1.750M, for a 1,824 square foot, 4 bedroom and 2 bath, asking is $1.949M and for a 9 room, 5 bedroom and 2.5 bath, asking is $2.8M.

For a 3 family home with 3,300 square feet, 15 rooms, 6 bedrooms and 3 baths, asking is $2.4M.

For an 8 family house with 30 rooms, 16 bedrooms and 9 baths, asking is $4.2M.

For a Coop apartment with 1 bedroom and 1 bath, asking is $625,000, for a 4 room, 2 bedroom and 1 bath, asking is $725,000, for a 4 room, 2 bedroom and 1 bath, asking is $849,000, for a 1,450 square foot, 2 bedroom and 1.5 bath, asking is $1.275M, for a 2 bedroom and 2 bath, asking is $1.450M and for a 1,288 square foot, 6 room, 2 bedroom and 1.5 bath, asking is $1.645M.

For a condominium apartment with 543 square feet, 1 bedroom and 1 bath, asking is $540,000, for a larger 1 bedroom and 1 bath, asking is $675,000, for a 1,015 square foot, 2 bedroom and 2 bath, asking is $1.095M, for another choice in a 2 bedroom and 2 bath, asking is $1.175M, for a 1,042 square foot, 5 room, 2 bedroom and 2 bath, asking is $1.550M, for a 1,247 square foot, 3 bedroom and 2 bath, asking is $1.725M and for a 1,417 square foot, 7 room, 3 bedroom and 3 bath, asking is $2.350M.

Some of the newer condominium buildings to come to the area are:

Arbor Eighteen located at 185 18th Street, an 11 floor building with 73 apartments from studios to 2 bedrooms with great amenities.

Stanton on Sixth located at 695 Sixth Avenue, a 3 floor building with 32 apartments of which 10 are duplexes, designed by Karl Fischer with gorgeous finishes in every unit.

The Aaron located at 236 17th Street with 17 apartments on 7 floors, designed by Tom Winter Design.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Real Estate values in Boerum Hill are high with strong demand and a limited supply of available properties.

More and more New Yorkers are being drawn to this quiet, pristine area every day. There are excellent connections to the rest of the city via the A, C, F, G, 2, 3, 4 and 5 trains at the Atlantic Avenue Barclay Center subway station.

Some examples of asking prices for real estate in Boerum Hill in today’s market are:

For a 1 family townhouse with 5 rooms, 2 bedrooms and 2 baths, asking is $1.679M, for a 3,039 square foot 15 room, 4 bedroom and 3.5 bath, asking is $2.795M, for a 9 room, 3 bedroom and 3.5 bath gut renovated home, asking is $4.250M, for a 3,600 square foot, 17 room, 5 bedroom and 3+ bath, asking is $4.750M and for a 3 story, gut renovated,  17 room, 6 bedroom and 6 bath, asking is $5.3M.

For a 2 family home with 3,300 square feet, 12 rooms, 4 bedrooms and 2.5 baths, asking is $3.195M.

For a 4 family home with 3,600 square feet, 14 rooms, 8 bedrooms and 4 baths, asking is $2.280M and for a 3,789 square foot home asking is $3.8M.

For a mixed use building with a ground level commercial space and residential apartments above, with 2,600 square feet, 8 rooms, 4 bedrooms and 2+ baths, asking is $4.199M.

For a Co op apartment with 3 rooms, 1 bedroom and 1 bath, asking is $600,000, for a 800 square foot, 3 bedroom and 1 bath, asking is $789,000, for a 3 room, gut renovated, 1 bedroom and 1 bath, asking is $989,000 and for a 1,400 square foot, 4.5 room, 2 bedroom and 1 bath, asking is $1.195M.

For a condominium apartment with 400 square feet, 2 rooms and 1 bath, asking is $550,000, for a 609 square foot, 3 room, 1 bedroom and 1 bath, asking is $695,000, for a 714 square foot, 3 room, 1 bedroom and 1 bath, asking is $875,000, for a 768 square foot, 3 room, 1 bedroom and 1 bath, asking is $995,000, for a 975 square foot, 4 room, 2 bedroom and 2 bath, asking is $1.165M, for a 1,085 square foot, 6 room, 2 bedroom and 2 bath, asking is $1.2M, for a 1,080 square foot, 4 room, 2 bedroom and 2 bath, asking is $1.425M, for a 1,424 square foot, 3 bedroom and 2.5 bath, asking is $1.9M, for a 1,574 square foot, 5 room, 3 bedroom and 3 bath, asking is $2.250M, for a 1,705 square foot, 5 room, 3 bedroom and 2,5 bath, asking is $2.695M and for a 2,035 square foot, 7 room, 3 bedroom and 3 bath, asking is $3.250M.

There are several new beautifully designed and built Condominium buildings in Boerum Hill. A few of them are:

Due to be completed this month there is a 14 story, Morris Adjmi design building located at 211 Schermerhorn Street. This building will have 1-3 bedroom units and the amenities include a roof terrace, media room, game room, fitness center, yoga studio, children’s playroom, laundry and a bike room.

 

 

 

The Hendrik, built in 2017 is located at 509 Pacific Street. This 6 story building contains 33 condos. The project was designed by Beyer Blinder Belle in a sophisticated, Danish minimalist style with superior craftsmanship. Amenities include 24 hour doorman service, state of the art fitness room, children’s playroom & library, residents lounge, bike storage, landscaped rooftop terrace and a pet spa.

 

The Boerum is a 19 story condo/hotel located at 265 State Street. The building was designed by Flank. Starting on the 7th floor there will be 28 condos and a total of 128 apartments.

The Bergen is an 8 story rental property located at 316 Bergen Street. The building was designed by Eren Chen’s ODA. There will be studio apartments, 1 and 2 bedroom apartments. Amenities include a landscaped rooftop deck with cabanas, private dining areas, outdoor shower and barbeque area, fitness center with an outdoor workout space and yoga deck, a landscaped outdoor lounge, a media lounge with a wet bar and entertainment area, full time doorman, concierge service, laundry areas and onsite parking.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Coney Island, Brooklyn NY is synonymous with Amusement park (aka Luna Park), The New York Aquarium, MCU Park (a minor league baseball stadium), the original Nathan's restaurant, landmarked Boardwalk and a magnificien public beach. Coney Island neighborhood slowly but surely is evolving and some great new projects are underway and several are planned for the near future.

Ocean Dreams, a 425 unit rental project located at 3514 Surf Avenue is being developed by John Catsimatides. The project has a pair of 21 story luxury apartment towers overlooking the Atlantic Ocean. The project is scheduled to be complete by next summer. Catsimatides is also planning to build on either side of Ocean Dreams on land which he also owns.

Hill West Architects have designed the towers. The project will have 327,778 square feet of residential space and 20,685 square feet of commercial space. Amenities will include Valet Service, a business center, a pool, a 3 level parking garage for 301 cars, 2 rooftop terraces, 2 tenant lounges, a fitness center and a children’s playroom. There will also be a 24,000 square foot common 2nd floor terrace which will have a bocce court and a putting green. A supermarket, drug store and a restaurant will also open nearby.

Taconic Investment Partners and The Prusik Group are planning a mixed use project called Coney Island North Venture. This massive project will consist of 1,000 apartments, 80,000 square feet of office space and 150,000 square feet of retail along Surf Avenue. The project will span 3 blocks and construction is expected to wrap up by 2020.

Taconic has also purchased another parcel which the developer refers to as Coney Island South Venture. That site is 5.5 acres and 4 blocks in size along the beachfront. No plans have been set for that site yet.

Developer PYE Properties has a boutique hotel planned for the historic Shore Theatre, a 1920’s landmark building located at the corner of Surf and Stillwell Avenues. Plans for the hotel include approximately 50 rooms, banquet space, a Multi Cultural spa, a rooftop restaurant and lounge and a ground floor café and retail space. The new hotel is expected to open in 2021.

Developers Georgica Green Ventures and Concern for Independent Living are planning a new 9 story building on the corner of West 21st Street and Surf Avenue. The building called Surf Vets Plaza will have 135 affordable and supportive housing apartments along the boardwalk. The project will include 7,000 square feet of retail and commercial space on the ground floor. Above the ground floor commercial space there will be 82 apartments for homeless veterans and 52 apartments for households earning below 60% of the area’s median income. Construction has not yet begun. To be continued…

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

There are approximately 2,000 to 2,500 Victorian, Queen Anne, English Arts & Crafts, Renaissance Revival, Tudor, Greek Revival, Colonial Revival, Georgian Revival and Japanese Cottage style homes.

Victorian Flatbush is not a cookie cutter home type neighborhood and has retained it’s charm because of it’s diversity of distinct architectural styles. As you walk down the lush tree lined streets you can marvel at the beauty of these homes and the history behind them.

Until now, only Prospect Park south, Albemarle – Kenmore Terrace and Ditmas Park have Historic District status.

There are 6 local groups who are representing the undesignated and unprotected homes in the neighborhoods of Beverly Square East, Beverly Square West, Caton Park, Ditmas Park West, South Midwood and West Midwood and are seeking official NYC Historic District designation for their neighborhoods. 

Victorian Flatbush has become very popular for families who need large homes on large lots and need to be in the city for convenience and lifestyle choice purposes.

Today’s pricing for homes is as follows:

For a 1 family home with 2,808 square feet, 5 bedrooms and 2 baths, the asking price is $1.475M, for a 2,205 square foot, 3 bedroom and 2 bath, asking is $1.675M, for a 3,867 square foot, 5 bedroom and 4 bath, asking is $1.875M, for a 6,750 square foot, 5 bedroom and 4 bath, asking is $2.1M, for a gut renovated, 2,300 square foot, 4 bedroom and 4 bath, asking is $2.2M and for a 3,800 square foot, 7 bedroom and 5 bath, asking is $2.350M.

For a 2 family home with 2,443 square feet, asking is $1.895M.

For a condominium with 1,076 square feet, 2 bedrooms and 2 baths, asking is $1.050M.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The public schools in the area are;

P.S. 154 The Windsor School located at 1625 11th Avenue, serving grades K-5.

P.S. 130 The Parkside School located at 70 Ocean Parkway, serving grades Pre K, K-5.

Subway service into Manhattan is via the F and G trains at the Fort Hamilton and 15th Street Prospect Park train stations.

The small town feel of the quiet streets in Windsor Terrace are lined with brick, limestone and wooden clapboard townhouses. There are some Co-op apartment buildings and rental buildings as well as some Condominium buildings.

Windsor Terrace, Brooklyn NY 11218 - Greenwood Ave

Some examples of today’s asking prices for real estate in Windsor Terrace, Brooklyn NY are:

For a 1 family house with 884 square feet, 7 rooms, 2 bedrooms and 1 bath, asking is $1.049M, for a 900 square foot, 5 room, 2 bedroom and 1 bath, asking is $1.295M, for a 2,661 square foot, 9 room, 4 bedroom and 2.5 bath, asking is $1.499M and for a 2,250 square foot, 9 room, 4 bedroom and 3.5 bath, asking is $2.495M.

For a 2 family house with 10 rooms, 6 bedrooms and 3 baths, asking is $1.4M, for a 1,884 square foot, 9 room, 3 bedroom and 2.5 bath, asking is $1.6M and for a 1,800 square foot, 6 room, 4 bedroom and 2+ baths, asking is $2.2M.

For a mixed use building with both a commercial space and residential space with 3,700 square feet, 10 rooms, 6 bedrooms and 3 baths, asking is $2.3M and for a 3,511 square foot, 14 room, 5 bedroom and 5 bath building, asking is $2.750M.

For a Co op apartment with 580 square feet, 3 room studio with 1 bath, asking is $350,000, for a 586 square foot, 2 room studio with 1 bath, asking is $399,000, for a 3 room, 1 bedroom and 1 bath, asking is $499,000, for a 3.5 room, 1 bedroom and 1 bath in a Pre War building, asking is $509,000, for a 835 square foot, 3 room, 1 bedroom and 1 bath, asking is $545,000, for a 3 room, 1 bedroom and 1 bath in another Pre War building, asking is $650,000, for a 5 room, 2 bedroom and 1 bath, asking is $699,000, for a 700 square foot, 4 room, 2 bedroom and 1 bath, asking is $710,000 and for a newly renovated 4 room, 1 bedroom and 1 bath, asking is $750,000.

For a Condominium apartment with 654 square feet, 4 rooms, 1 bedroom and 1 bath, asking is $890,000 and for a 5 room, 3 bedroom and 2 bath, asking is $1.025M.

There are some good restaurants in Windsor Terrace. A few of them are:

Della located at 1238 Prospect Avenue, serving Italian influenced cuisine and craft cocktails.

Krupa Grocery located at 231 Prospect Park West, serving seasonal American dishes. An excellent all day neighborhood restaurant.

Le Paddock located at 1235 Prospect Avenue, serving French cuisine and Pizza from a brick oven. Weekend brunch is also served.

Hamilton’s located at 2826 Fort Hamilton Parkway, a local tavern serving comfort food, breakfast, lunch and dinner.

Bedawi’s Café located at 266 Prospect Park West, serving classic Middle Eastern cuisine.

Coco Thai located at 268 Prospect Park West, serving comfort Thai food.

Elora’s located at 272 Prospect Park West, serving casual Mexican food with Margarita pitchers.

Le P tit Paris Bistro located at 256 Prospect Park West, a corner bistro preparing French dishes.

East Wind Snack Shop located at 471 16th Street, specializing in dumplings, bao and other Chinese dishes.

Some neighborhood news:

The Windsor Terrace Food Coop is located at 825 Caton Avenue, corner of East 8th Street. Member owned and operated with 500+ members. There is a one time fee to join which is:

$100 for a single shopper

$175 for families

$60 for students and seniors (65+)

Hours of operation are:

Monday 4-7pm, closed Tuesday and Wednesday, Thursday 2:30 to 8:30pm, Friday 9 to 11 am and 4-7 pm, Saturday 10-4 and Sunday 10-4.

The Windsor Terrace Branch of The Brooklyn Public Library located at 160 East 5th Street is closed for extensive renovation and will reopen in 2020. There will be a new HVAC system, new electrical and a new look cosmetic refresh.

Other nearby branches are 1305 Cortelyou Road and 4207 18th Avenue.

The Nitehawk Cinema located at 188 Prospect Park West is open, replacing the Pavillion movie theatre. Nitehawk Cinema shows curated films and serves specialty cocktails, beer and wine, brunch and dinner with vegan and gluten free options as well as movie special food and drinks.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

When investing in Commercial Real Estate, it is essential to have an understanding of Net Operating Income. Net Operating income or NOI is a calculation used to determine the profitability (or lack of) of real estate investments that generate income.

NOI helps to determine how much a property is worth. NOI is used in determining the Capitalization Rate (rate of return on the investment) which helps in calculating a range in value of a property and forecasting cash flows.

NOI takes all revenue from the property, minus all reasonably necessary operating expenses. Keep in mind that NOI is a before tax calculation excluding principle and interest on a loan, capital expenditures, depreciation and amortization or EBITA.

It’s important to note that NOI can be based on current financial statements or forward looking estimates or pro forma.

NOI measures the ability of a property to produce an income stream from operations.

One of the most important components of NOI is the tenants lease as a main source of income and identifies who pays for which expenses. For example with a gross lease the owner pays all of the operating expenses. With a net lease, the tenant pays all of the operating expenses. A third option is a negotiated lease.

The individual components of NOI are:

Potential rental income which is the sum of all rents and the terms of the lease of each individual tenant at 100% occupancy. Market rent is used to project income if not 100% occupied.

Vacancy and credit losses are lost income due to non payment or tenants vacating the property. Comparative property vacancy rates can be used here.

Effective rental income is the income that the owner can reasonably expect to collect.

Gross operating income is the total of all income considering vacancy and credit loss.

Operating expenses are real estate taxes, insurance, management fees, repairs and maintenance, utilities, accounting and legal expenses etc…

It is very important to be aware of the expenses not included in the calculation of NOI. For example, financing costs, depreciation, income taxes specific to the owner, construction costs for tenant improvements, leasing commissions to real estate brokers and agents, reserves for major future maintenance (capital expenditures).

You must keep in mind that each property is unique. Each buyer and seller will have their own methods of calculating expenses. NOI can be subject to interpretation.

Before deciding to purchase a commercial property, it is very important to compare a property’s NOI components with those of competing properties in the same neighborhood. For example, a newer construction building may have real estate taxes triple or quadruple of similar type older buildings in the same neighborhood. This dramatically effects the value of that newer building with excessively high real estate taxes.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

A 27 story residential tower called The Brooklyn Grove is coming to Boerum Hill, to be located at 10 Nevins Street, Brooklyn NY. The building will have 184 units and is being designed by ODA and Stephen B. Jacobs Group as the architect. Adam America Real Estate, Slate Property Group and Vanke US are the developers. Amenities will include 24 hour concierge service, package room, bicycle storage, a lounge with 22 foot high ceilings and a gas fireplace, pool table, 40 foot long skylit pool and changing rooms, private dining rooms with kitchenettes and lounging area, fitness center, dedicated yoga room, children’s playroom, a pet spa and a rooftop lounge with separate lounging and dining areas, barbeque grills and a pergola.

At the moment, just a concept, but a new residential glass skyscraper is being imagined in Dumbo to rise from the atrium of the Empire Stores. The project design is planned to create a dramatic architectural tower over the East River. The interior of the tower will be contemporary and elegant.

The largest development to come to Crown Heights is planned for 960 Franklin Avenue at Montgomery Street. This 1.4 million square foot mixed use project is being developed by Continuum Company and Lincoln Equities. Two buildings are planned here with the first building having 705,652 square feet, 39 stories high accommodating 810 residences. There will be 405 affordable housing units from the 810. The building will have 9,641 square feet of retail space and 113 parking spots. The second building will also be 39 stories high but a little taller. The building will be 663,662 square feet in size with 768 residential units, of which 381 will be affordable housing. There will also be 11,542 square feet of retail space with 9,678 square feet for a community facility and 67 parking spots. There will also be an open space for public and private residential use.

The local community will have an opportunity to voice their concerns on March 12^th, 2019. The Department of City Planning will need to approve the project in order for the planned project to move forward.

A new mixed use building is coming to South Williamsburg at 302 Broadway, next to the J, M and Z trains. The building is being designed by PAUL. There will be retail on the ground level, a community facility on the 2nd floor and 24 rental apartments. Kazi Billah is the developer.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

There are some exciting, innovative and ambitious new projects in the works in Downtown Brooklyn. Some of these projects are: 

Brooklyn Point being developed by Extell, is one of the tallest buildings being built right now. The building is planned for 720 feet in height and the 49th floor is now taking shape. The project architect is SLCE Architects and the design is by Kohn Petersen Fox. Building interiors will be designed by Katherine Newman and the private outdoor landscaping is being created by MNLA. Brooklyn Point is the final part of the City Point complex of 3 buildings which have residential units, the Dekalb Market Hall, Alamo Drafthouse cinema, Target, C21 Department Store, Trader Joe’s and multiple small retail shops. There is easy access to the Dekalb Subway station where you can access the B, Q and R trains.

Another incredible new project in the works islocated at 181 Livingston Street and has been named The Wheeler. Design by Perkins Eastman & Shimoda Design Group will combine an art deco building with a new 14 story glass tower. The new tower will be 256 feet tall and there will be 843,830 square feet of new commercial space. Macy’s will occupy the lower 4 floors and offices will occupy the remaining 90,000 square feet. Tishman Speyer is the developer for this project. Amenities will include a 10,000 square foot rooftop terrace, 130 bicycle storage units, shower and locker room and a recreational space. Subway service is very conveniently located at the Hoyt Street station for the #2 and #3 trains at Hoyt and Fulton Streets, the Hoyt Schermahorn station for the A,C and G trains and Jay Street/ Metro Tech station for the A,C F and R trains.

The tallest and most ambitious planned project in the works is located at 9 Dekalb Avenue (The Brooklyn Dime Savings Bank Building). Designed by SHoP Architects and developed by JDS Development and The Chetrit Group, this supertall tower will reach 1,066 feet in height.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

The best way to calculate a property’s comparative market value is to look at recent sales data of similar properties. Based on the size of the house or building and the size of the lot it’s situated on and the sales date for identical type of property in close proximity to the subject property an experienced real estate broker or agent will estimate what should be the asking price for the property. When the asking price of the property is estimated properly the final sale price should be within a small range of the asking price.

When you are planning to sell your real estate, your ability to attract qualified, motivated buyers always comes down to timing and asking sale price!  The 3 scenarios of how price dictates the number of inquiries on the property, the number of showings and the number of written bona fide offers are:

If the property is priced much too high for what it is (property type), where it is (location, location, location) and market conditions, you will not receive any inquiries, requests for showings or offers.

If the property is priced slightly above the market, there may be a few calls and showings but no offers.

If the property is priced right, there will be consistent inquiries, requests for showings and the offers will come.

The goal is to locate the highest price that will still make the property competitive on the open market.

How to arrive at a realistic range in value and asking price for the property? A CMA looks at recent sales data, usually within a 3 to a 6 month time frame in the neighborhood, with as much as an apples to apples analysis as possible. You must keep in mind that NO 2 property types are exactly the same. The variable of location, high or low percentage of walkability, the neighborhood where is the property is located and that specific location on a particular block can be a big influence on pricing. Similar age and type of construction of a similar property type (frame, brick, cinderblock), similar amenities (loading dock for 3 trucks and 15 foot high ceilings), (2 or 3 baths), upgrades (new kitchen and baths), building size, lot size and property condition (fixer upper or completely remodeled) are all important variables in calculating price.

CMA vs Appraisal

Most appraisers are not local to a neighborhood like real estate broker and agents. Many appraisers call real estate brokers and agents for insights into properties sold. The fact is that local real estate agents and brokers are always in the trenches where the buying and selling is happening and they are in a great position to know neighborhood trends and values. It is always beneficial to properties owner to contact a local real esate company with great reputation.

A thorough CMA should include:

Sold listings (from the Multiple Listing Service), Pending listings (they can indicate the direction that the market is moving in), Expired listings show what did not sell, for the reasons of being too highly priced, poor condition or not marketed aggressively by the broker, Off The Market/Withdrawn/Cancelled listings happen for different reasons including being priced too high and Active listings which are currently for sale and your competition for buyers. Active listings do not always indicate current market value.

Many houses are emotion based purchases based on curb appeal, the amount of natural light (exposure), layout, room sizes, age, desirable amenities and walkability!

If you are planning to sell your property and you would like to know the current market value, call us to provide you with an in depth CMA a no cost and with no obligation on your part. We at Accord Real Estate Group have been doing appraisals, CMAs and BPOs for many types of clients for many years. We pride ourselves on the accuracy and reliability of our opinions of value.

In the business of purchasing real estate to live or to invest, whether you are buying a condominium, Co-op apartment, single family house, multi family house, mixed use building, commercial building or a ground up development opportunity, doing your due diligence is the protocol to follow to minimize risk and maximize the upside of the purchase.

Some of the basics of due diligence are as follows:

When planning to purchase a unit in a newly built condominium building, check the track record of success or failure and financial history of the builder. It is important to obtain a warranty on the construction materials, mechanicals and appliances (if applicable) in case there are any problems after the closing.

When planning to purchase a Cooperative apartment, you want to know if there is a flip tax where you would owe a % of your profit from the sale to the building management. Obtaining a black book outlining the buildings financial strength or weakness is important. Check with your bank to see if they have given a mortgage on other units in that building.

When planning to purchase a single family home, bring an experienced, licensed engineer to thoroughly inspect the plumbing, heating, electrical, roof, foundation, appliances, windows and basically top to bottom, exterior and interior of the house for insight into the condition of the house and what will or will not need repair in the near future. You do not want any surprises after the closing and you take possession. Be aware of any easements or shared access with a neighbor.

When planning to purchase a multi family home, besides doing an engineer inspection, make sure that there is a certificate of occupancy, for example for a 3 or a 4 family dwelling that matches the layout and actual use of the house. Some owners are surprised to learn that they have a legal 2 family house instead of a 3 family house. Having your attorney do a preliminary title search can be extremely helpful. If there are tenants in the house and the contract reads delivered vacant at closing, be aware of the potential problems of the seller asking tenants to leave and find another place to live. There could be delays and / or legal problems. Know up front what the risks are if there are existing tenants living in the house. Find out if there are any pending court actions against any of the tenants.

When planning to purchase a mixed use building with street level commercial/retail space with residential apartments above, a different level of due diligence is required. For the commercial space, if there is a tenant with a lease, you must review the lease (preferably with an experienced real estate attorney) and all of the clauses to make sure that you are not inheriting a bad lease with a less than desirable tenant. A commercial lease is complicated. For the residential portion of the building check to see when the tenant’s leases are expiring and if there are any court actions pending against the tenant or tenants. Have an engineer inspect the building thoroughly.

If you are planning to purchase a commercial building you may want to visit propertymetrics.com to view an in depth due diligence checklist of suggested steps to follow. Issues to be considered very carefully are:

Acquisition actions/documents, title/survey/ zoning matters, tenant lease matters, financial matters, service contracts, litigations, insurance, physical inspection of the property & review, personal, personal property inventory, government review, closing and miscellaneous actions, property operations & management, financing matters (if applicable) and internal procedures & reporting.

Some basic steps to owning commercial real estate are:

Ask yourself what kind of property you are looking for. Are you looking to use the building for your own business, rent it out, build equity or expand/develop the building (an adaptive reuse project)?

What is your risk tolerance? Are you willing to be a landlord. Are you ready and willing to make an investment/purchase of that size?

Visit many properties. Figure out the price, location, condition and allowed uses. Find the best fit for you. Consider hiring an accountant, commercial real estate lawyer, commercial realtor and a mortgage broker.

If the property is more complicated, you may want to hire a tax expert, an appraiser, an engineer and an environmental specialist. Figure out your financing, for example which bank to go to and what interest rate will they offer you.

Make an offer (LOI Letter of intent to purchase), but not without your lawyers approval. Your lawyer will make sure that the LOI is not binding in case there are problems with the contract.

You’ve arrived at the point where money changes hands and your period of due diligence begins.

If you are planning to purchase vacant land or a lot with a property on it to be demolished for developing a ground up building, the due diligence required is considerable, complex and costly.

The degree of success and ability to maximize profit with most development sites is established during the due diligence period before the site has been purchased. All the risks, options and opportunities must be weighed and examined in this critical stage for developers. This process must be handled with care and patience with no room for costly errors. Mike from property pro says “ before buying a site, we need to have the mind frame of reasons why not to buy the site”. “ By doing this we ensure that we flush out as many potential issues up front to avoid any costly mistakes or delays once the site has been purchased”.

The property development due diligence checklist includes:

Site legals which deal with anything with a legal restriction or implication. Have your attorney do a title report to start.

Utilities and services involve site constraints for example are there any overhead cables or buried services in your site? This can have a huge impact on your design and costs. Also, find out if possible, what future connections to a main utility will take place and how will that effect the project.

Local authority and planning. The question here is can you get planning permission for the intended development? Be aware up front of all the planning risk items before buying the site.

Site survey requirements. Know what surveys you will need for your specific project.

Construction. Can you build what you intend to build? Is there proper access, can the site be secured from intruders or trespassers? Consult several contractors on this issue.

Every site, every development is different and presents its own challenges. Do your own due diligence that your specific site and development call for.

Prospect Heights today is a combination of historic Brooklyn and a new urban Brooklyn. There is a great sense of community amongst Prospect Heights’s diverse residents living in the neighborhood for decades. The streets of Prospect heights are quiet and serene with blocks of beautifully kept brownstone homes, quaint shops and great restaurants and bars.

The lifestyle in Prospect Heights is culture rich with The Brooklyn Museum, Brooklyn Botanic Garden, The Brooklyn Public Library, Prospect Park with events and activities year round and so much more. According to a recent Streeteasy report, Prospect Heights is one of the top 10 New York City neighborhoods to watch in 2019!

Today’s real estate market in Prospect Heights is strong with values higher than ever before. Some examples of asking prices for residential properties are:

For a condominium apartment with 596 square feet, 3 rooms, 1 bedroom and 1 bath, asking is $695,000, for an 824 square foot, 3 room, 1 bedroom and 1 bath, asking is $899,000, for a 1,122 square foot, 1 bedroom and 1 bath, asking is $999,000, for a 1,187 square foot, room open layout with 1 bath, asking is $1.249M, for an 1,102 square foot, 4 room, 2 bedroom and 2 bath, asking is $1.375M, for a 1,090 square foot, 4 room, 2 bedroom and 2 bath, asking is $1.450M, for a 1,281 square foot, 6 room, 3 bedroom and 2 bath, asking is $1.595M, for a 1,181 square foot, 4 room, 2 bedroom and 2 bath, asking is $1.725M, for a 1,475 square foot, 6 room, 3 bedroom and 2 bath, asking is $1.749M, for a 1,548 square foot, 5 room, 2 bedroom and 2 bath, asking is $1.850M, for a 2,032 square foot, 5 room, 2 bedroom and 2.5 bath, asking is $1.899M, for a 1,268 square foot, 5 room, 3 bedroom and 2 bath, asking is $2.2M, for a 1,429 square foot, 4 room, 2 bedroom and 2.5 bath, asking is $2.275M, for a 1,572 square foot, 4 room, 2 bedroom and 2.5 bath, asking is $2.5M, for a 2,660 square foot, 4 room Penthouse unit with 3 bedrooms and 2 baths, asking is $3.4M and for a 2,969 square foot, 6 room Penthouse unit with 4 bedrooms and 4.5 baths, asking is $7.715M.

There is a newly completed residential Condominium project located at 280 St Marks Avenue, between Vanderbilt Avenue and Underhill Avenue. Designed by DXA and developed by DNA Development, this building has 31 units. Each unit has beautiful finishes with gorgeous kitchens and baths. There is a roof terrace, community room, public garden, children’s playroom and an outdoor recreation space with a gym and bike room.

For a Coop apartment with 3 rooms, 1 bedroom and 1 bath, asking is $599,000, for a 4 room, 2 bedroom and 1 bath, asking is $635,000, for a 4 room, 2 bedroom and 1 bath, asking is $675,000, for a 4 room, 2 bedroom and 1 bath, asking is $699,000, for a 3.5 room, 1 bedroom and 1 bath, asking is $749,000, for a 4 room, 2 bedroom and 1 bath, asking is $875,000, for an 1,101 square foot, 5 room, 2 bedroom and 2 bath, asking is $929,000, for a 1,364 square foot, 4.5 room, 2 bedroom and 2 bath, asking is $1.3M and for a 7 room, 4 bedroom and 2.5 bath, asking is $2.5M.

For a 1 family townhouse with 1,400 square feet, 5 rooms, 3 bedrooms and 2 baths, asking is $1.699M.

For a 2 family townhouse with 2,536 square feet, 6 rooms, 4 bedrooms and 3 baths, asking is $1.950M and for a 3,848 square foot with 13 rooms, 6 bedrooms and 3 baths, asking is $3.625M.

For a 3 family townhouse with 3,760 square feet and 13 rooms, asking is $2.999M, for a 4,000 square foot, 10 room, 6 bedroom and 3 baths, asking is $3.1M and for a 4,224 square foot residence, asking is $3.350M.

For a 4 family townhouse with 4,000 square feet, 16 rooms, 8 bedrooms and 4 baths, asking is $5M.

There are several subway stops in Prospect Heights at The Eastern Parkway Brooklyn Museum station, The Grand Army Plaza subway station, the Bergen Street station and The Barclay Center station. The trains that can be accessed at those stations are the 2,3,4,5,A,C,D,N,R,B and Q.

Some of the schools in Prospect Heights are:

P.S. 705 Brooklyn Arts and Science Elementary School located at 443 St. Marks Avenue.

P.S. 9 Teunis G Bergen located at 80 Underhill Avenue, serving grades K-5.

I.S. 340 located at 227 Sterling Place, serving grades 6,7 8 and SE.

Brooklyn East collegiate Charter School located at 832 Marcy Avenue, serving grades 5-9.

Luria Academy of Brooklyn located at 238 St. Marks Avenue, serving grades PK, K-8.

International High School at Prospect Heights located at 883 Classon Ave, serving grades 9-12.

Prospect Heights has some good restaurants. A few of them are:

Olmsted located at 659 Vanderbilt Avenue. Chef/owner Greg Baxtrom creates seasonally inspired dishes skillfully.

James located at 605 Carleton Avenue serves New American fare.

Tom’s located at 782 Washington Avenue, a circa 1936 American eatery serving breakfast and lunch.

Chuko located at 565 Vanderbilt Avenue serves Ramen bowls and Asian accented appetizers.

Cheryl’s Global Soul located at 236 Underhill Avenue, serving soul food with interesting seasonal and global touches.

Alta Calidad located at 552 Vanderbilt Avenue, serving Tacos, Mexican small plates and shareable main dishes.

Faun located at 606 Vanderbilt Ave, a stylish space serving Italian/American fare.

Morgan’s Barbeque located at 261 Flatbush Avenue, serving Texas style BBQ and southern sides.

Geido located at 331 Flatbush Avenue, serving Sushi in a kid friendly atmosphere.

Look by Plant Love House located at 622 Washington Avenue, serving homestyle Thai noodle dishes, soups and spicy plates.

Banh Mi Place located at 824 Washington Avenue, serving Vietnamese cuisine.

Mitchell’s Soul Food located at 617 vanderbilt Avenue, serving Fried chicken, Collard Greens and Peach Cobbler. A no frills soul food joint.

Nimbooda located at 664 Washington Avenue, serving innovative and classic Indian dishes.

There are some good watering holes in Prospect Heights. A few of them are:

The Way Station located at 683 Washington Avenue featuring live music every other night, a great casual bar and the host of the Prospect Heights Music Festival, a celebration of all things Brooklyn.

Weather Up located at 589 Vanderbilt Avenue, a speakeasy style bar serving exceptional cocktails.

The Bearded Lady located at 686 Washington Avenue, a 1950’s style bar serving great specialty cocktails at $9.00.

Soda Bar located at 629 Vanderbilt Avenue, combination of Brooklyn hip and Dive bar. Great Happy Hour with $3.00 draft bear, a lounge area with couches and a D.J. who likes to get down nice and funky.

Tooker Alley located at 793 Washington Avenue, a speakeasy style bar/lounge serving the finest cocktails and there is Jazz Mondays!

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We know that given the opportunity to represent you in the marketing and sale of your property that you will have a great experience with us that will be very financially rewarding.

Most easements are affirmative, which means that they authorize use of another’s land.

Easements are usually created by conveyance in a deed or some other written document such as a will or contract.

Although permanent easements are the norm, they can be terminated. Easements of limited duration are commonly used to provide temporary access to a dominant estate pending the completion of construction work.

An easement may also be terminated when an individual owning the dominant estate purchases the servient estate or when the holder of an easement releases his or her right in the easement (in writing) to the owner of the servient estate.

An easement may also be terminated by abandonment, not just not using it.

Easements are an issue which primarily appear in reference to residential real estate. So whether you are a real estate agent selling residential real estate in Brooklyn, Manhattan, Queens, The Bronx or Staten Island, the issue of the existence of an easement on a property may be involved.

The more common types of easements are:

Right of Way: This is where a neighbor may need to pass through the driveway of the property to get to their rear yard or garage. In that driveway is a walkway leading to your backyard. That walkway is an easement which allows you to have legal access to your backyard through the neighbor’s driveway. The neighbor cannot block your access and encroach on your easement right to access your back yard. On the other hand, your easement entitles you to the part of the property that you own that is on the survey or deed to the property, but you cannot extend your easement onto the neighbor’s property without their permission.

In Gross: This type of easement applies only to the particular person you’re dealing with at that moment, whom you’ve decided to let access the property. When that person sells the property, the future owner is not included in the easement access.

Appurtenant is an easement that is attached to the land and therefore is part of any sale and is transferred to the new owner.

The bottom line when it comes to easement rights is to do your due diligence and understand exactly what your easement rights entitle you to and what your easement rights do not entitle you to before you sign a contract of sale to purchase a property.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

Air rights allow property owners to maximize the square footage that can be built on their property based on zoning regulations. The city has placed some restrictions on zoning in some neighborhoods and increased or up zoned in other neighborhoods. For example, the Downtown Brooklyn rezoning created an explosion of development and population growth in that neighborhood. Other neighborhoods such as Ditmas Park, Windsor Terrace and Greenwood Heights have a limit on the height of new buildings to maintain the character of the neighborhood.

New York City air rights, also known as Transferable Development Rights (TDRs). Air rights are the unused potential of an underbuilt building. It's also known as a vertical real estate space and it is as valuable as the land beneath it.

FAR or floor Are Ratio is the maximum number of square feet that can be built on a site relative to the square footage of the lot. Factors that influence a building’s FAR are the location of the lot (facing a wide street or a narrow street), the planned use for the building (commercial, residential, community or manufacturing) and whether the building offers a benefit to the public (public outdoor space or affordable housing units).

The three ways that air rights can be transferred are:

Zoning Lot Mergers – this is the most common form of air rights transfer where the owner of an underbuilt property with unused development rights, links his property with the developer of an adjacent property or lot so that the developer can build a taller building than what would otherwise be allowed by his property’s FAR.

Special Purpose District Air Rights Transfer. The city allows these transfers in special purpose district cases when there is a particular zoning goal targeting the area. For example, The High Line and Hudson Yards District.

Landmark Transfers involve properties and sites that have been deemed historically or culturally significant by the Landmarks Preservation Commission. There can be an exchange of air rights between an LPC designated landmark and other properties wishing to develop land. The two properties do not have to be contiguous.

If you are interested in selling the unused air rights to your property, call us. We will provide you with the range in value for those rights.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, co op or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

If you need to sell real estate in order to help settle the estate of a family member, having the right legal representation and right real estate brokerage representation is very important.

An experienced probate or estate planning attorney can make a big difference in the process of legally positioning the property to be able to be sold.

Kings County Surrogate Court in Brooklyn handles probate, administration and guardianship matters.

Accord Real Estate Group specializes in working with probate/estate planning attorneys and their clients in the marketing and sale of real estate in Brooklyn, Manhattan and Queens NY. We have over 30 years of experience working with families, bring them exceptional personalized service and excellent results in a top sale price for their property.

We invite you to read attorney’s and past clients’ testimonial letters describing their experience with our company. We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

If you are in need to sell estate property or planning to sell your property or you know someone who is planning to sell their property in any of 5 boroughs in NYC, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did. We will be happy to answer all of your real estate questions and give you our insights into the selling process of probate properties in today’s market. There will be no obligation on your part.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Broker

Just a few weeks ago we at Accord Real Estate Group announced the launch of our latest website and mobile version. We continue to be a technologically advanced real estate brokerage company year after year. We are internet marketing experts dedicated to bring the absolute best exposure to our client’s properties to locate interested and qualified buyers.

Our company motto is Experience, Integrity, Results. What this means to our clients is a thoroughly professional, personalized experience with our real estate brokers and agents, who bring exceptional service and who have the experience to bring the absolute best results in terms of price. We don’t just talk the talk, we prove to our clients, transaction after transaction, year after year, that the eventual sale price of their property is clearly the best price that can be achieved for their property.

If you are planning to sell in 2019 your property or you know someone who is planning to sell their property in any of 5 boroughs in NYC, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, co op or condo, vacant land or a development opportunity, call us. You will be very happy that you did. We will be happy to answer all of your real estate questions over the phone or in person with no obligation on your part.

Visit our website at accreg.com, on your pc, phone, tablet or laptop and read through over 30 years of testimonial letters from our clients. We know that given the opportunity to represent you in the marketing and sale of your property that you will have a great experience with us that will be very financially rewarding.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.