Real Estate

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Report Says New York City Housing is Grossly Unaffordable; Sky is Blue

Tenants, many of them living in rent-stabilized units, rallying in Chinatown to protest construction as harassment in December (Photo by Nicole Disser)

Tenants, many of them living in rent-stabilized units, rallying in Chinatown to protest construction as harassment in December (Photo by Nicole Disser)

Given that New York City is a place where making “just” $70 to 92k a year can qualify you for affordable housing—thanks, Upper West Side condo developers—it makes sense that homeownership rates here are low. Just how low, however, is a little jarring. According to a new study published by NYU’s Furman Center and Citi, only 42 percent of homes sold on the market in 2014 were affordable even to those making as much as $114,000 a year.

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East Village Landlord’s Ice Cream Social Gets a Chilly Reception

Protestors yesterday at TK (Photo: Luisa Rollenhagen)

Protestors yesterday at TK (Photo: Luisa Rollenhagen)

It’s hard to imagine how anyone could get pissed off about ice cream. It’s pretty delicious stuff on its own, but when ice cream comes free, it’s capable of turning almost any New Yorker with a broken-AC situation into a sedated, softly smiling master of chill. But the tenants at 325 East 12th Street– owned by Brookhill Properties, a real estate company founded by notorious landlord Raphael Toledano, who’s currently under investigation by the State for tenant harassment– have been moved to a level of frustration that can’t be solved with tasty bribes. That’s why, when they started receiving invitations to attend an ice cream social bought and paid for by Brookhill, the tenants organized an ice cream protest.

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Sparkly New Condo Smells Funny? Find Out If It’s Industrial Poison With This Map

(Screenshot via ToxiCity map, Neighbors Allied for Good Growth and Pratt)

(Screenshot via ToxiCity map, Neighbors Allied for Good Growth and Pratt)

Depending on where you look, North Brooklyn is still replete with rusty reminders of its fairly recent manufacturing past, but as that history recedes farther off into the distance, pushed along by developers mining the cityscape for residential conversions (and now, slick new tech office space too), the memory of what stood there before is fading too. The area’s transformation has proceeded so quickly and dramatically that many new residents have no idea that they’re living next to an old pencil factory, or in some cases a Brownfield site.

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#HackHousing Proves That Not All Tech Bros Suck

(Flyer via #HackHousing)

(Flyer via #HackHousing)

After making my way through a gilded, marble-floor lobby worthy of Home Alone 2, I found myself at Civic Hall. The techy meetup spot and educational center is where likeminded hackers convene for “labs” and shamelessly use the kind of words (“disrupt”) that have become emblems of that heady cocktail of superiority and entitlement powering controversial profit vacuums like Uber and AirBnB. I was hardly surprised to see that Pierre Omidyar’s foundation is a sponsor of Civic Hall, as is Google. Even if the #HackHousing event had been pitched as an occasion for discussing “creative ways to empower New York renters,” I was more than a little skeptical.
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Notorious East Village Landlord Uses Street Art to Paint a Prettier Picture

(Photo: Nicole Disser)

(Photo: Nicole Disser)

Earlier this year, when the East Village’s beloved Stage Restaurant closed in the wake of a dispute with its landlord Icon Realty Management, Brooklyn-based artist Gilf! plastered the diner’s former home with caution tape reading “Gentrification in Progress.” It wasn’t the first time one of the company’s properties was the site of artistic protest: Karen Platt, a resident of an Icon-owned building on East 5th Street, has been known to chalk up the sidewalk with messages like “Enough Is Enough,” and over July 4th weekend, someone spray-painted a message on the sidewalk in front of the now for-rent Stage space that advised, “DO NOT RENT HERE. DO NOT BUY HERE. BOYCOTT IN EFFECT.”
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Another One Could Bite The Dust: IDIO Gallery Turns To Crowdfunding To Survive

Screenshot of Montana Simone’s GoFundMe page for Idio Gallery.

There’s been many a Bushwick disappearance lately. Punk venue The Acheron recently said their goodbyes, acclaimed restaurant Northeast Kingdom put away their plates for good, and Palisades is closed until at least August. In nearby Williamsburg, the Experiment Comedy Gallery, DIY space for funnies, just had to relocate to a new spot that’s quite literally underground.

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Citistorage Site Owner Sets Offer Deadline as Park Pushers Plan Sleep-In

The homepage of 1n11th.com.

The homepage of 1n11th.com.

Last month, the city made a $100 million offer on the final parcel of land needed to complete the long-promised Bushwick Inlet Park along the Williamsburg waterfront, giving the property owner 60 days to take the money. The owner, Norm Brodksy, promptly declined the city’s offer and now appears to have set a deadline of his own.
Cushman & Wakefield, the real estate company that’s handling the sale of the property, has set up a website to collect offers for the land between now and 5 p.m. on July 20—two weeks from today—after which Brodsky will presumably make a decision on the matter. More →

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New Law Aims to Help Mom-n-Pops, But Embattled Tenants Say It's Not Enough

(Photo: John Ambrosio)

(Photo: John Ambrosio)

A group of a dozen small business owners and community advocates from Bushwick gathered at Esmeralda Valencia’s restaurant on Myrtle Avenue this morning with an alarming message on posterboard: “Los pequeños negocios nos declaramos en crisis”—We small businesses declare ourselves in crisis.
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New Law Aims to Help Mom-n-Pops, But Embattled Tenants Say It’s Not Enough

(Photo: John Ambrosio)

(Photo: John Ambrosio)

A group of a dozen small business owners and community advocates from Bushwick gathered at Esmeralda Valencia’s restaurant on Myrtle Avenue this morning with an alarming message on posterboard: “Los pequeños negocios nos declaramos en crisis”—We small businesses declare ourselves in crisis.

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