421-a Twist

Remember all those foundations that got poured just prior to June 30 of this year? It turns out that developers do not find out if their projects are vested until the project are completed. Talk about adding uncertainty to the development equation.

Oh, and even if the foundation was poured by the deadline, the project still “must make timely progress on the building until its completion”. So you can’t pour a foundation and walk away for a couple of years waiting for the market to improve.

Northside Piers

Toll Brothers bottom line is saved by Williamsburg and Hoboken, and in return, Toll remains bullish on Williamsburg. Details on Tower 2, which will be 50% larger than Tower 1, include a shift in the apartment mix to mostly studios and one bedrooms. This is in response to sales at 1 Northside Piers, which have skewed younger than expected (though right now, its not clear that that younger crowd can qualify for hefty luxury mortgages).

Oh, and now “Williamsburg is a natural extension of the Village”.

Tootsie Roll

As a commenter notes, this Soho “Chocolate Factory” was not where Tootsie Rolls were made. That honor goes to another “Chocolate Factory” development, this one a rental on Park Avenue in Clinton Hill (not to be confused with the condo development “Chocolate Factory” on Myrtle).

Yassky Abuses Parking Permit

Three City Council members who have reserved parking spots – which Mayor Bloomberg promised to end after the Daily News exposed the perk – spent hundreds of taxpayer dollars on MetroCards and cabs last year, documents show.

In Yassky’s case, “hundreds of dollars” somehow works out to $15.70. Somehow, spending $15.70 for a cab (or maybe it was two cabs?) hardly seems like an abuse. Let alone chutzpah.

DOB Reform

“New procedures require that inspectors be able to see what they are inspecting.”

Weeked Plans

Williamsburg Walks

Today is the last day of Williamsburg Walks. Seven blocks of Bedford Avenue will be closed to traffic, and open to the imagination. (And over in Oz, seven miles of streets will be closed to traffic for the first Summer Streets Saturday.)

Food Drive

The Church of the Ascension will be at Tops today and tomorrow (1pm to 5pm) collecting canned food goods for its food pantry this weekend in Williamsburg. The food pantry is in need of cans of tuna, vegetables and soup.