Author: linked

The Goldman Sachs Urban Investment Group announced Wednesday that it has invested $61 million in the New York Equity Fund, a public/private partnership that aims to build and preserve affordable housing. The investment is the largest in the fund’s 20-year history.

Mapping what is affordable to who, a very cool – and sobering – web site. For North Brooklyn, the median income in 2006 was $35,300 (for a family of four, I believe), which less than half the citywide median income for a family of four.

80 Metropolitan is approaching the 50% mark for sales (roughly 51 of 114 units), another good indication that there is still a market for condos in Williamsburg. According to StreetEasy, the recorded sales (only 9 to date) are in the high $700/sf range, and the available listings are in the low $800/sf range. That represents a fair premium over developments like NV, which is selling in the low $700/sf range – I like to think that is a reflection of the better design of 80 Met1, but I’m sure it’s more about amenities or other tangibles.

1. While it is a nicely-designed project, that still does not make up for the loss of the Old Dutch Mustard factory. And despite what Douglas Steiner says, nothing about this design reflects “the fabric and history of Williamsburg”, unless by fabric and history we are talking post-2005.↩

Lindsey Graham (R-SC – who voted against the Franken amendment):

I think it would be helpful for Sen. Franken to come forward and say, ‘I’m not suggesting that anybody who votes for [sic] my amendment is indifferent to crimes against women or anybody else,’

Al Franken has never suggested that anybody who voted against his amendment is indifferent to crimes against women or anybody else. But the Republicans who voted to support rape (75% of the caucus) are catching a lot of heat for their vote and they have to blame someone – surely they can’t take responsibility for voting against a woman’s right to sue her sexual assailants and the company’s that protect them.

The Daily News isn’t exactly clear about what the turf would cover (is it a “green” or a playing?) and how much there would be (an “egg-shaped green” or the 11-acre park?). But if this anything other than an athletic field, the “Parks” Department should be embarrassed.

Parks should also own up to the fact that artificial turn does not have the life-span they claim. Under normal use and with regular (weekly) maintenance, an artificial turf field can last ten or twenty years. Under constant use and with infrequent maintenance, a turf field will last about four years (I’m looking at you, McCarren Park).

From last week’s Brooklyn Paper, a report on CB1’s Land Use Committee review of Rose Plaza (the site to the south of Schaefer Landing, currently occupied by Certified Lumber). The article focuses on housing – number of units and affordability – but the committee’s objections extend to areas such as public open space, industrial relocation and (some potentially very considerable) environmental issues at the site (it was once home to a manufactured gas plant).

The full board will take up the committee’s recommendation tomorrow night: 6:30 pm on Dec. 1 at the Swingin’ Sixties Senior Center, 211 Ainslie St.

The Brooklyn Paper has a good in-depth look into the state of the East River Water Taxi service. It’s not a pretty picture – NYWT is apparently ready to pull the plug entirely, while the City is backing away from its support for subsidies and service extensions to other sites in Williamsburg and Greenpoint (which should increase ridership, thus making service overall more viable and the need for subsidies that much less).

Tom Fox of NYWT nails it when he says “ferry service will work whenever [the City] the political will”. At the same time, developers (and just the few on the waterfront) are leaving their tenants high and dry by not stepping in and supporting service. At this point just about every waterfront development has promised a water taxi landing, but no one is willing to pony up some money to make the service viable.

At M.S. 126 [in Williamsburg], despite the librarian’s dismay, the principal, Rosemary Ochoa, has worked out what she considers a viable plan with the Williamsburg Charter High School and its two small spinoffs, which also occupy the building. The charters get the library for most of the day, and Ms. Tecza is expected to travel to individual classrooms to teach the public students library skills.

The City’s space planning for schools remains a nightmare, with underutilized schools (PS 84) blocks away from overcrowded ones (MS 126). And while the trend towards charter schools fills up unused space in many local schools, it does nothing to the improve the education of the host schools.

The Pulaski Bridge gets a much-needed rest stop and some new art. Maybe the peds and bikers can sit down and talk things out. (UPDATE: Though clearly some pedestrians don’t appreciate the art or the effort.

The Real Deal reports that the developer of 421-431 Kent Avenue (the former Domsey parking lot) is being sued over a mortgage deal that went bad. N. Richard Kalikow is alleges that the developer, Isaac Hager, used the personal guarantee of his terminally-ill business partner to secure a $17 million second mortgage from Kalikow. The deal went through in October 2007, and Hager defaulted on the loan in August 2008. The business partner, Chaim Lax, died in November of 2008. There is also an allegation of misappropriation of funds regarding $100,000 that was set aside to hire a consultant to secure 421-a tax abatements for the project.

Hager (who also developed 20 Bayard and the Aurora) and Lax acquired the Kent Avenue site in December 2007 for $42.6 million.