Well, at least they are being open about the intentions. From Real Estate Weekly:
http://www.rew-online.com/2013/06/12/stuy-town-site-for-sale/
Avison Young announced that the firm’s New York City-based investment sales team has been retained as the exclusive sales agent for 644 East 14th Street, directly across from Stuyvesant Town/Peter Cooper Village, in Manhattan.
Principals Neil Helman and Charles Kingsley, who are both members of Avison Young’s Capital Markets Group, are leading the assignment on behalf of the site’s owner.
The 10,106 s/f corner parcel in the East Village is currently occupied by a one-story building. The site can accommodate an as-of-right project with 65,689 s/f for a mixed-use development including residential, retail and community facility space.
The property has 200 ft. of frontage on 14th Street and Avenue C. In addition, there are potentially 70,000 s/f of unutilized development rights from the properties directly to the west of the parcel that, with a zoning lot merger, can be incorporated onto the site.
“Well poised for redevelopment, this corner lot is ideally suited for a multitude of uses, including residential (condos or rentals), retail, and community facility use, including dormitories for student housing, making this a great opportunity for schools and other non-profit institutions,” said Helman. “The location on two wide streets with virtually no restrictions on height limitations is also highly advantageous, enabling a tower to be erected.”
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What does this mean for us? For one, more use, from people who are not "residents and their guests," of the Oval and other areas of Stuy Town. For another, a visual blight from a building "with virtually no restrictions on height limitations." And for another another, the further loss of middle-class affordable stores to be replaced by bars and Starbucks.
21 comments:
Conveniently located in a major flood zone. 4 feet of water during Sandy?
What does this mean for us? For one, more use, from people who are not "residents and their guests," of the Oval and other areas of Stuy Town. For another, a visual blight from a building "with virtually no restrictions on height limitations." And for another another, the further loss of middle-class affordable stores to be replaced by bars and Starbucks."
Most of this is true, but there will be NO "LOSS of middle-class affordable stores" since the R & S Strauss that once existed there (and IS the one story building that's being referred to) has been gone for years & years.
The rest of this pretty much sucks, though. I always thought the USPS would take over THIS location after announcing the closing of the Peter Stuyvesant Branch. As a parent (or even a student) I'd think this location was a pretty shitty one, truth be told. Next to the projects, next to the East River, across from Con Ed, and (except for C Town) NO support facilities or businesses unless they're included in the new structure. Nope, not too appealing, even on paper. The very reason that lot has stayed exactly the same way for so many years.
Free hip waders to all new residents! Classic views of a power plant! Free fireworks displays when it blows up!
MORE Dudes! MORE Bros!
Yes, the location is not optimal, but with the development of the entire area along 14 St east of 1st Ave forthcoming, it's going to have some value, even if for dorms.
This comment should probably be in a new thread. It is Saturday morning, June 15, 2013, and a large white envelope was just slipped under my door, but it has been opened and resealed. It is dated June 14, 2013, and it is from Compass Rock. I am one of the renters who received a mid term rent increase. The envelope contains three pages and it is a form letter with an affidavit that needs to be filled in. The letter states that if you were a mid term rent increase tenant and you were told, orally or in writing, by any PCVST agent that the Roberts mid term increase would not apply to your current lease, then complete and notorize the attached affidavit. The affidavit is to be sent to the Attoorney General of NYS and CW. It also states that if the affadavit is submitted you will not be charged the increase for your current lease. We only have until 6/30/2013 to submit the affidavit.
So let's hear from anyone who knows what this is about? This clause has been in my lease since I rented under Tiscman and Speyer. I asked about it when I signed my initial lease in 2008 and was told they would never raise rents in the middle of a lease. I have many questions about this and will investigate before I send it in.
Even back in the 1950s, that block offered little in the way of retail. There was a Robert Hall men's clothing store, and there was a bowling alley upstairs, which came later. Fourteenth Street then was a huge divide--moderate middle class on one side, low income on the other. From Avenue A to Avenue C, most stores seemed to cater to one clientele or the other. Avenue B from 14th to 13th offered options: a soda fountain/newspaper and magazine store (Fradel's), a kosher butcher (Dave Gorelick), a fruit and vegetable store (American Fruit), and a little later a dairy products store (Harry's). And the post office was on Avenue B too. Nowadays people are willing to schlep blocks to Trader Joe's, but probably not to Avenue C.
CWCapital is slipping new letters under the doors today! :)
I think that this is an ideal location for bro frat dorms--facing the powerplant and in the floodzone. Once they grow up into respectful considerate citizens and neighbors they can perhaps earn the privilege ofliving in STPCV.
I also received an affidavit this morning form CW.
What's up ? Is this a win? seems so
Another quiet afternoon in the Oval. NOT!
It's Carnival time!!!!!
Whoopee!
Let them have that space. It serves them right! Tenants will get flooded, mugged, harassed and will have no discernible access to much of anything for blocks and blocks.
And, if you are so inclined, residents of 14th St. can pelt them with rotten eggs as they stumble off to the bars...
STR, have you seen the latest utterances from our vile, despicable overlord? They think we are being mean and petty for filing for a rent rebate for living in substandard conditions post Sandy? Talk about blaming the victim! These fucking assholes just can't admit how incompetent and contemptible they are!
WHO IS IN CHARGE?
FIX THE CLOCK IN PLAYGROUND 12!
Interesting. Maybe this is a blight for us. Not sure. Stuy Town is stodgy compared to what's happening in Alphabet city. But if prices are lower, CW will be forced to compete.
STR - Your write up of this epitomizes the lack of reality seen by Rent Stabilized tenants. This city desperately needs to create additional and new housing supplies as vacancies have been a fraction of percentage, and market rents continue to absolutely sky rocket.
Instead of applauding the creation of new housing supply, the RS tenant view is solely about self interest - "keep my rent artificially and don't let anyone else move into Manhattan."
"Instead of applauding the creation of new housing supply, the RS tenant view is solely about self interest - "keep my rent artificially and don't let anyone else move into Manhattan.""
Shut up, Bloomie. Your meds are due and you're dribbling again!
The worst-case scenario with that property is about 14 stories of height. Isn't that basically the identical height to the adjacent ST buildings?
It will still block light and sunlight.
8:02am... How could you miss the part where it states "virtually no restrictions on height limitations"?
I wish they'd bring the Strauss back!
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