LOWER EAST SIDE—Earlier, we pointed you to a Sunarticle about the planned recreation of a Keith Haring mural that the New York icon painted on a wall at the northwest corner of Houston Street and the Bowery in 1982. Lordy, the artists enlisted to paint the sucker sure are acting quick! Above, the wall as seen earlier this afternoon. [CurbedWire Inbox]
WILLIAMSBURG & LONG ISLAND CITY—Those unpredictable Toll Brothers are offering up another one of their ridiculously short-term sales. It's much like an old one, but this time around, purchase a condo at Northside Piers, North8 or Fifth Street Lofts by Friday, April 25, and you'll save $20,000 on closing costs. [CurbedWire Inbox]
SEAPORT—What will spring up on 80 South Street now that Santiago Calatrava's Tower o' Penthouses have passed on? Yet to be determined, and first the land must be sold. A press release fresh into the inbox states that Newmark Knight Frank Capital Group has been retained as the broker for the site, and offers are due by May 8. The 8,128sqft parcel is expected to fetch around $115 million. [CurbedWire Inbox]
Northside Piers' pier is coming along. The "East River jetty now sports a sharp-looking stainless steel railing and an assortment of benches and small tables. No obvious sign of a water-taxi launch from our vantage point." So, like, when are the Toll Brothers going to open up the waterfront to public access? [INSIJS]
The screencap above is from a video that happens when Lizzie Grubman Public Relations does some PR that intersects with the Toll Brothers. It's what the interviewer keeps describing as the "press junket" for Brooklyn Fashion Weekend, aka a press reception in the Toll Brothers sales trailer on the Northside Piers property. (Sorry no embed, but click here to watch and turn the sound down because it starts when the page loads).
The Toll Brothers Northside Piers development in Williamsburg has had a milestone moment today. A tipster emailed to note that the 29-story building had been granted a Temporary Certificate of Occupancy today, writing "BURG HERE WE COME." About 70 percent of the units in the building have sold. [Dept. of Buildings BIS; previously]
Yesterday, workers were busy getting the new Edge sales office at N. 6 Street and Kent Avenue in Williamsburg ready. Meanwhile, the Times was proclaiming that sales of the 575 units in a 15-story and 30-story tower "may be a good barometer of the state of the New York real estate market over the next year or more." Which is a pretty heavy expectation to lay one one development, even if it's a big, high-profile one. What will make it even more interesting, of course, is that The Edge will be going head to head with Northside Piers, which is going to put a second tower on the market, possibly as early as this spring, even though 30 percent of the 180 units in the first 29-story tower still haven't sold and there have been PriceChops. The developers of the Edge say they've learned from the Toll Brothers and are be marketing more studios and one bedrooms and there will be amenities like that hot pool. Sales will start next month. The Toll Brothers, meanwhile, don't see the competition as a death match, saying that Edge buyers that come to Kent Avenue will also take a look at Northside Piers. We can't wait to see the lineup of sales people on Kent Avenue trying to snag buyers for both sales offices, which are a block apart.
· A Barometer in Williamsburg [NYT]
· Burg Throwdown! The Edge vs. Northside Piers [Brownstoner]
· More New Look Williamsburg: The Edge Revealed [Curbed]
We'd ask people to guess what street is in the first pic in the photo gallery above, but we've already spoiled it. It's the New Look Kent Avenue in front of the Toll Brothers Northside Piers development. The fences are down, the glass is up, the little trees are planted and Bob Toll and friends are ready to rock.
· Checking In: Northside Piers Glass & Brick on Kent Ave. [Curbed]
· Kent Avenue #1: Northside Piers Adds Brick to Glass [Curbed]
EAST VILLAGE—Note the red arrow up top. A concerned local writes, "Condos rising from the projects? Or is Kent Ave really Ave E? I was walking my dog through Tompkins Square Park this morning, and through the leafless tree branches I saw what appeared to be a condo rising amongst the projects of the East River. After decades of rumors, could it be true? Here's a shot from 9th St. and Ave. B." For the thrilling conclusion to this tale, check out the reveal after the jump. [CurbedWire Inbox]
EAST VILLAGE —A tipster points us to the listing for last week's PriceSpotter, which has already entered the realm of PriceChopper. Sad. It was so young! [CurbedWire Inbox]
CURRY HILL— "There's been a non-stop high pitched ringing sound for months at a time. The city has taken complaints, and the local Police dept. have gone out on calls, but the same ringing just returns again. You don't have to be a dog to hear it. It's especially loud at the corner of 26th and Lexington between the Armory Building and Baruch College. The ringing was originally thought to have been coming from the construction machinery at the 'hotel' project next door to Baruch, but now that it's returned, who knows? There is more construction further up Lexington. Would be great if you gave this some coverage, since this can't be good for residents eardrums." Mmmkay. [CurbedWire Inbox]
We don't often delve into art, unless it's, say, an part of marketing for a condo or the opening of a museum or crazy public work, but when the art is a collection of work about Brooklyn development, here we are. The paintings are the work of Greg Lindquist, who had a show last year about Williamsburg development. Now, the subject is Red Hook and things like the Ikea that's under construction and the vanished Revere Sugar plant. The painting above is called "Ikea Site (Design for Consumer Choice, Parking over Preservation)," which, along with the dark and brooding color scheme, might indicate the artist has some issues with our big bright blue-and-yellow friend.
WILLIAMSBURG—It's a big day for the Toll Brothers' Northside Piers (right). Writes a tipster: "TCO inspection for the lower floors today, wish us luck!" Our fingers are crossed. No, not because we're hoping that the building gets its temporary certificate of occupancy, but because we don't want any more roof tar fires. [CurbedWire Inbox]
GRAMERCY—With all this talk about other Gramercy newcomers, the Shvo-repped Gramercy by Starck had to do something to get back in the spotlight, but, uh... "Just heard that Starck's Gramercy signed McDonalds to take ground floor space. Not sure how that fits in with the image being marketed or if purchasers were informed prior to signing contracts." How ... kitsch? [CurbedWire Inbox]
News that the East River Water Taxi service has been shut down for the winter due to rising costs, declining ridership and a desire for city subsidies registered with little more than whimper in the canyons of Manhattan. But developers of the Williamsburg waterfront have been banking on the Water Taxi as a marketing tool due to the dicey/horrid status of the local subways, so the situation has led to some unintentional comedy. Like, for example, Northside Piers currently constructing its brand new Water Taxi docking station. Or, best of all, the website for Schaefer Landing, where the entire introductory video is a Water Taxi trip departing Manhattan and approaching the rendered (despite the buildings having been completed forever ago) condo towers. Maybe it should be replaced with camera-phone footage of a J/M/Z ride until the spring?
· Putting the Pier Back in Northside Piers [Curbed]
· East River Water Taxi is Sunk for Winter [Curbed]
It's been hard to tell what's going on behind Northside Piers on Kent Avenue, but local blogger INSIJS got a good camera angle and pic of the big pier being built back there. "Out of sight of residents, development bloggers, and construction sightseers, a long concrete pier is quickly taking shape," INSIJS writes.The irony of it being intended for New York Water Taxi, which recently suspended East River service for the winter and asked for subsidies. He doesn't give up hope, though: "Toll Brothers should actively woo NY Water Taxi to its new pier at Northside Piers." He thinks it'll work better for the Toll Brothers than it did for Schaefer Landing which, by the way, still features a video of a happy, cruising Water Taxi as the intro to its website. Uh, not right now.
· At Northside Piers, a Pier Appears; Can it Save East River Ferry Service? [INSIJS]
· East River Water Taxi is Sunk for Winter [Curbed]
Williamsburg blogger INSIJS offers up some new photos of Northside Piers from the rarely seen backside of the Toll Brothers waterfront development and reports that the situation includes "lotsa mud, a new bulkhead, what looks like some new real estate jutting out into the river..." That's 184 Kent on the right. The full photoset is pretty in a creepy Williamsburg waterfront under construction way.
· Sunday Eye Candy: Northside Peering [INSIJS]
· Northside Peering [I'm Just Sayin'/flickr]
While we've noted PriceChop confusion, smoky roof tar fires, Toll Road openings and parking garage operas, it's been a while since we checked in on the Toll Brothers Northside Piers complex itself. The exterior of the tower got all its glass and was completed a while ago, and work is coming along nicely on the red brick Palmer's Dock part of the project, where the affordable rental apartments are being raffled off. (The site as it looked a year ago next week is here.) The building on the left, by the way, is the future location of The Edge's sales office, while The Edge itself is on the right.
Yesterday, luxury homebuilder Toll Brothers reported that third-quarter sales fell 36%, and customers backed out of 39% of their orders, the highest rate ever. Was it because of credit problems? Mortgage issues? People instead choosing the Developers Group billboard? Nope: it's the media's fault, according to chief executive Robert Toll. Customers who decided to walk have "read one too many Times articles, and decided now is not the time to buy a home," he told the, uh, Times (Awkward!). He added: “Perhaps as the presidential campaign heats up and moves to the front page, negative articles about housing will move off the front page.” Planning for the future, that's what we like to see in a good businessman! Team Toll also handed out grades for all their housing markets, and not surprisingly the New York region did the best, with Toll's city projects in Williamsburg, Long Island City and the Third World landing a B. Is that strong enough to warrant building those other planned Northside Piers towers on fabulous waterfront Williamsburg? Turn to page D26 in about a year to find out.
· Blame for Poor Home Sales? It’s the Press, a Builder Says [NYT]
· Toll Brothers Ignore Crap & Clap, Push Gowanus Plan [Curbed]
· Toll Brothers' Love Shifts from Williamsburg to LIC? [Curbed]
WILLIAMSBURG—It's been a big week for Williamsburg, with longtime punchline 55 Berry finally selling out and now this: "Just thought I'd let you know some news about Williamsburg scapegoat Northside Piers selling enough units to go condo. I'm not a broker, or a developer...in fact, I bought one of the units because I want to personally destroy Brooklyn (actually I don't). Anyway, I got a letter dated October 5th from the Toll attorney (or rather, Kent Avenue Property 1-B LLC's attorney) saying that they had 'executed and accepted' offering plans on 84 units (46% of the units offered) so the plan is effective, which I guess means we are going condo. No 99 Gold brouhaha for us. I guess a little smoke on the roof really got people interested in the place (since then they had a couple of days where they offered $10,000 off of closing costs, but that was after the 5th.) Well, I'm not sure if they've tooted their own horns in a press release or anything, but I thought I'd let you guys know. I'm sure lots of whiners will have something snarky to say about it. I'm just saving up for curtains." [CurbedWire Inbox]
WILLIAMSBURG, LONG ISLAND CITY—The Toll Brothers are thisclose to trotting out Crazy Eddie. A reader sends along this, from a Toll Bros email: "we are offering $10,000 off closing costs when you purchase a new home at Northside Piers, North8 or 5th Street Lofts between now and Monday, October 15, 2007." Huzzah! So, which one will you be buying? [CurbedWire Inbox]
LOWER EAST SIDE—A trusted source passes along word that the boutiqueish East Houston Hotel will open on Friday. Fuck. Yes. Then again, we could get stuck with another dreaded "two weeks." [CurbedWire Staff]
TRIBECA—Everyone knows that Tribeca Space on Murray Street is totally screwed, and a Curbed reader wants to fan those flames some more: "I remember the inital post last spring about the weird second bedrooms (among other problems). Rumor is that the developer is being forced to recharacterize the second bedrooms as home offices (which requires a new submission to the AG). In addition, the is a rumor that there is a new tax problem. Looks like there will be no closings in 2007." And it continues. [CurbedWire Inbox]
TRIBECA, SOHO—We love long dissertations on property taxes, so here's one right now: "I've recently learned that a number of buildings in Soho and Tribeca have been hit with massive property tax increases (in the neighborhood of 100%). Apparently one of the factors the city is looking at in doing the assessments is how much rental income is going to the coop. Because buildings breaking the 80/20 rule have large cash payments from rentals run through the building, the city sees that rental income when the coop does the tax filing. Although the coop may be tax exempt the city is saying that the building itself is more valuable because of the increased rental income. BUSTED." [CurbedWire Inbox]
Williamsburg was supposed to be the Toll Brothers' splashy entrance to the outer-borough luxury condo game, but stagnantsales at the Bros' two 'Burg properties have been well documented (although the 1BR and 3BR units at North8 now appear to be sold out). Initially just an afterthought, the Toll Brothers' Fifth Street Loftsdevelopment (left) in Long Island City has accidentally assumed favored son status. It's over 75% sold, and some units have unexpectedly cracked the elusive $1,000/sf barrier. In a wide-ranging story on LIC commercial and residential development, the Sun had a word with a Toll exec on 5SL's success:
"We are finding a smaller price differential between Long Island City and Williamsburg than we expected and, significantly, that there are many who prefer Long Island City over northern Brooklyn no matter what the price. My only issue with Long Island City is that I can't get my hands on another site."
We're not sure we've heard anyone look at the Toll Brothers Northside Piers building on Kent Avenue in Williamsburg and exclaim that it's one good looking building, but maybe we've missed it. Regardless, given the attention we've been paying to the first high rise to go up north of the Williamsburg Bridge, it's worth noting that the Palmer's Dock Building in front of it is fully up and now getting the red brick treatment. Too bad the red brick won't reflect in the blue glass.
· Northside Piers Pricechop Update: Views to a Kill [Curbed]
· It's Toll vs. Toll in Cross River Glass War [Curbed]
After yesterday's call for LOLchitecture, we received some genuinely chuckle-inducing submissions. Because some have poo-pooed the idea, we won't assault your senses by chucking them all up in the main space. Click on the blue stuff, and then send us your own! Or, you know, don't.
About a month back, we ran an item noting a massive PriceChop at the waterfront Williamsburg development Northside Piers, brought to you by your friends and ours, the Toll Brothers. Today, TheStreet.com reporter Nicholas Yulico digs into the troubles at the building, unearthing a bunch of hard data on the 'Chop:
· about 40% of the 180 units at Tower 1 have been sold, with about 70% of the units having been released for sale
· On the B-line section of Tower 1, prices were cut from above $1 million to the $800,000 range; of the 17 (of 23) B-line units released for sale, 10 have been sold, four have deposits and three remain available for sale, as of last week
· says a Toll rep, the 'Chopped units were "mispriced from the beginning"
We know what the scene outside the Toll Brothers' Northside Piers building in Williamsburg is like (ratty!) and we've even had a glimpe at the views, but we were still pretty pumped to come across this photo gallery of shots from inside and outside the building. Reads the caption on the picture above: "that is the first time i've seen a cello and traffic cone within 3' of each other." Then you simply haven't lived.
LOWER EAST SIDE—Seward Park's court battle with Greater New York Mutual Insurance Company over a 1999 parking garage collapse (aftermath, right) has been decided, and the news ain't pretty for the co-op. A self-described concerned shareholder writes, "The appeal has been won by the insurance company. There is a lot of money involved here. Seward Park Housing has $20 million in the bank held against this claim. We might have to give some or all of it back, pending more litigation. Between the lines of the decision, we can read that part of the appeal was that the Board dinked around for years apparently waiting for the insurance money before borrowing and rebuilding." The LoHo blog and the ever-lively LES Forum add to the coverage, including the detail that Seward Park definitely has to return $2.3 million to Greater New York and could wind up owing much more, pending further appeals. Good times. [CurbedWire Inbox]
LOWER EAST SIDE—On top of all those BLUE rentals hitting the market, some BLUE glass may be hitting the trash piles. A tipster emails, "I live in the area, and I am pretty sure I have noticed them changing windows too. From the ugly blue ones to the clear ones. It's changed the mosaic pattern on the outside so it looks like a bad patch job now." [CurbedWire Inbox]
SOHO—Chaos on Broadway! Emails a tipster, "There was a bomb scare on Broadway between Houston and Prince in front of Dean and Deluca. Ended up just being a suitcase that someone forgot for an hour." Gawker's got coverage from the scene. [CurbedWire Inbox]
WILLIAMSBURG—Party Alert! Northside Piers(below right, as seen last weekend) is ready to top off, and after the recent PriceChop and national sales slide, beleaguered builder Toll Brothers is taking the opportunity to celebrate. Someone buy Bob Toll a drink for us. [CurbedWire Inbox]
The Toll Brothers are building a large residential development with blueish, semi-reflective glass in Williamsburg (above). The Toll Brothers are building a large residential development with blueish, semi-reflective glass in the East Village (above). So, with those similarities, which looks better? You might agree with the commentor who said of the 'Burg's Northside Piers (topmost pic), "Why do the blue/green panels look like the same shit colors that are on the 110 3rd Ave Toll Bros building?" Or, you might not. One Ten 3rd still has a lot of wood in lieu of windows—in fact, progress seems to have slowed considerably after the speedy way in which the shell sprung up—but it's never too soon to judge. They both may look a little office parkish, so we say this: if you're gonna go blue, go BLUE. No point in being half-assed about it.
· Northside Piers Gets Reflective, Nears Full Size [Curbed]
· Toll Brothers Get Out the Pricing Gun [Curbed]
· Northside Piers [Official Site]
· One Ten 3rd [Official Site]
Comments
WILLIAMSBURG—It's a big day for the Toll Brothers' Northside Piers (right). Writes a tipster: "TCO inspection for the lower floors today, wish us luck!" Our fingers are crossed. No, not because we're hoping that the building gets its temporary certificate of occupancy, but because we don't want any more 
Yesterday, luxury homebuilder Toll Brothers reported that third-quarter sales fell 36%, and customers backed out of 39% of their orders, the highest rate ever. Was it because of credit problems? Mortgage issues? People instead choosing the 
WILLIAMSBURG—It's been a big week for Williamsburg, with longtime punchline 
Williamsburg was supposed to be the Toll Brothers' splashy entrance to the outer-borough luxury condo game, but 
LOWER EAST SIDE—Seward Park's court battle with Greater New York Mutual Insurance Company over a 1999 parking garage collapse (aftermath, right) has been decided, and the news ain't pretty for the co-op. A self-described concerned shareholder writes, "The appeal has been won by the insurance company. There is a lot of money involved here. Seward Park Housing has $20 million in the bank held against this claim. We might have to give some or all of it back, pending more litigation. Between the lines of the decision, we can read that part of the appeal was that the Board dinked around for years apparently waiting for the insurance money before borrowing and rebuilding." The 
