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Thread: Condo madness in Homecrest, Brooklyn

  1. #1

    Default Condo madness in Homecrest, Brooklyn

    Hello,

    I just found and joined this forum!

    Anyway, I have a question:

    Can anybody shed some light on the condo construction boom in the Homecrest area of Brooklyn?

    Who is behind all this? I can't find any real info on it.

    Everything in sight is being torn down to make way for condos costing $500,000 to $1 illion.

    I live in a good rent stabilized building in the area, and I have noticed that an unusually high number of apartments are being kept vacant for long periods of time. And these are nice apartments - sunken living rooms, kitchens with dining rooms, etc., etc.

    It's really bizarre.

    Any insights?

    Thanks,

    Jeff

  2. #2

    Default

    Quote Originally Posted by BklynJeff
    Hello,

    I just found and joined this forum!

    Anyway, I have a question:

    Can anybody shed some light on the condo construction boom in the Homecrest area of Brooklyn?

    Who is behind all this? I can't find any real info on it.

    Everything in sight is being torn down to make way for condos costing $500,000 to $1 illion.

    I live in a good rent stabilized building in the area, and I have noticed that an unusually high number of apartments are being kept vacant for long periods of time. And these are nice apartments - sunken living rooms, kitchens with dining rooms, etc., etc.

    It's really bizarre.

    Any insights?

    Thanks,

    Jeff
    Your area is booming because of all the new money moving to the neighborhood. These households tend to have large families. Have you seen the mansions going up on the side streets? Every side street between Mcdonald Avenue to Ocean Parkway and Kings Highway to Avenue U has multiple mansions under construction.

  3. #3

    Default

    Who's moving in? Russians? Chinese? Italians? Manhattanites? Everybody?

  4. #4

    Default

    Quote Originally Posted by alex ballard
    Who's moving in? Russians? Chinese? Italians? Manhattanites? Everybody?
    I think the mansion area is mostly Jewish. The condo buildings being built everywhere in South Brooklyn have many Russians and Chinese. The Homecrest neighborhood also has a substantial Italian community, especially on the other side of McDonald Avenue (the F train).

  5. #5
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    Default

    I hadn't noticed it in Homecrest, but then again I'm not there often and its boundaries are in constant flux. Almost all of the mansions on southern Ocean Parkway are by orthodox Jews, and farther from there is mostly Russians.

  6. #6

    Default

    Quote Originally Posted by Gulcrapek
    I hadn't noticed it in Homecrest, but then again I'm not there often and its boundaries are in constant flux. Almost all of the mansions on southern Ocean Parkway are by orthodox Jews, and farther from there is mostly Russians.
    Gul, there are a number of condo projects on Avenue U and Kings Highway. There are also a number of smaller condos on the side streets between Avenues U and X. Construction is ongoing on both sides of the F train line. I think Russians are the largest ethnicity moving into the new buildings. The mansion area construction is an expansion of the Orthodox Jewish population along Ocean Parkway.

    I'm not sure of the exact boundaries of Homecrest. I thought that area was considered Gravesend.

  7. #7
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    I only know by name 2 of the developments that I guess are in Homecrest,

    71 Village Road North






    61 Village Road North




    both by Karl Fischer.

    If you know where the Foursome Diner is on Ave U, is that considered Homecrest? There's a little row of bland townhouses just finishing up there.

  8. #8

    Default

    ^
    Thanks for the pics, I don't know Homecrest's official boundaries. I do know the prices in the area are really high. To the west, a number of Bensonhurst condos are pricing units almost as high as in the Brownstone Brooklyn neighborhoods.

  9. #9

    Default Near Kings Highway.....

    Hi,

    I'm the original poster.

    The specific area I am referring to is near Kings Highway. I live on East 18th Street. There are two new condo buildings on my block that are 80% complete, and a third one is about to go up.

    My window overlooks one of these two new buildings. I saw an ad on craigslist advertising penthouse apartments in that specific buildings for $725,000. I know it's built by the orthodox, but it looks like some units are actually for sale by outsiders. And Ocean Avenue between K-Hwy and Ave. U is being leveled.

  10. #10

    Default

    Thanks for the renderings Gul. Those are two very fine looking buildings.

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