NEW YORK | 77 Commercial Street | 331 & 429 FT | 30 & 40 FLOORS

[NYguy]

Lots of reading, but I'll just post the basics...


http://www.nyc.gov/html/dcp/pdf/env_review/eas/14dcp010k_eas.pdf



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[Duck From NY]

Too much going on in this city to keep track of.

[NYguy]

Too much going on in this city to keep track of.

That is true. This is another piece of the puzzle that will transform the waterfronts of Brooklyn and Queens.

[NYguy]

http://freewilliamsburg.com/greenpoint-still-likely-to-become-a-soulless-carbon-copy-of-long-island-city-tonight-a-battle-of-the-stephens/

Greenpoint still likely to become a soulless carbon copy of Long Island City; Tonight a battle of the Stephens


http://freewilliamsburg.com/wp-content/uploads/2013/08/not-dubai.jpg



Last night, a public hearing about the contentious 77 Commercial St. development project — just north of the the despised Greenpoint Landing — took place in Greenpoint. No one was asked to leave this time, but it was still a very spirited hearing with local residents upset about how the developments, which will add over 5,000 apartment units to the neighborhood, will impact the community.

City Councilman Stephen Levin was in attendance, as was the other Stephen running for City Council, Stephen Pierson. (They debate tonight at the Polish National Home!)

Councilman Levin asked a representative from the mayor’s office about the $14 million reserved for a park on Commercial Street that has since been rescinded by the city. The city is now committed to spending a mere one million on the project and has been unable to explain what happened to the other $13 million. Visibly frustrated, the representative managed to dodge nearly every question about the city’s plans for transportation, fire houses, hospitals and other public amenities, stating that she was ill-informed and would need to comment at a later date.

Attendees were also concerned about “affordable housing” which defined low income as those who make $50,000 per year. An architect representing the developer was questioned about whether there would be separate entrances for lower income residents, but left those in attendance confused about the specifics of the project. Drafts from the proposal did indicate that the affordable units would be segregated from the 30-40 story towers, but it was unclear if there would be a ‘poor door.’



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http://freewilliamsburg.com/wp-content/uploads/2013/08/poor-door.jpg

[dc_denizen]

^ yes let's keep prime waterfront land fallow in a city of 8.3 MM people desperate for affordable places to live. How idiotic can these people get.

Glad this is moving ahead!

[chris08876]

^ yes let's keep prime waterfront land fallow in a city of 8.3 MM people desperate for affordable places to live. How idiotic can these people get.

Glad this is moving ahead!

Just people with nothing better to do. I keep saying this and these events just back it up.

[NYguy]

http://www.crainsnewyork.com/article/20130822/REAL_ESTATE/130829958

In Greenpoint is 2 doors too many?

Possibility that a huge new dual-tower development on the Brooklyn waterfront could have separate doors for the luxury
and the affordable units raises hackles with local officials. Developer says it has not made a final decision.


By Daniel Geiger
August 22, 2013


A plan to build a soaring residential tower on the waterfront in Greenpoint, Brooklyn, has drawn fire from key city officials because critics of the proposal say it would have a separate 'poor door' for affordable units, and another for tenants of the luxury units. The developer insists it has yet to make a final decision on the question of one door or two.

"I reinforced the community's point that this is something we were not interested in seeing in any development in our neighborhood," said Councilman Stephen Levin, whose district includes Greenpoint and neighboring Williamsburg. "It creates segregation in housing."

Mr. Levin aired his reservations over the planned project at 77 Commercial St. on Tuesday at a hearing held by Community Board 1, which is evaluating an upzoning of the site in an approval process that will ultimately end with a decision from the City Council.

Developers Joseph Chetrit and David Bistricer, the duo who earlier this year bought the Sony Building in midtown Manhattan for a whopping $1.1 billion and who plan to convert that office building into in a residential tower, acquired 77 Commercial St. last year for $25 million.

The site is zoned for roughly 300,000 square feet of development, but Messrs. Chetrit and Bistricer have entered into an $8.2 million contract to purchase about 300,000 square feet of additional development rights from a nearby vacant parcel at 65 Commercial Street that is owned by the Mwtropolitan Transportation Authority. The pair would need approval from the City Council to use those additional rights because of height and bulk restrictions on the site.

With the additional development rights, the developers say they want to build a luxury rental property with two towers, 30-stories and 40-stories tall that will be designed by the architect John Cetra. The $8.2 million of proceeds from the sale of the air rights would be paired with $1 million of city funding to create a park on the MTA land at 65 Commercial St. tentatively called Box Street Park. Messrs. Chetrit and Bistricer would also be required to construct 200 affordable units as part of the air rights sale, 20 of which their lawyers say will be for middle-income residents, 72 for low income renters and 108 moderately priced units.

Mr. Levin, who is currently running for re-election to the City Council, and others in the community have voiced concerns that the affordable units would be accessible through a separate entrance and clustered in less desirable areas of the building, such as the base floors.

In recent weeks, controversy has erupted surrounding developers who receive government-granted perks such as additional development rights, tax breaks and low cost financing for building low-income housing only to treat those affordable units in their development schemes as an afterthought. Extell Development, for instance, was cited in a flurry of written reports for proposing a separate entrance for its low-income units at 40 Riverside Blvd., a huge residential tower the developer is planning on the Upper West Side. Such two-entrance developments have been built around the city in recent years and they are in full compliance of city regulations.

"This is how development has been done according to the rules," Mr. Levin said. "We're only now starting to realize the inequity of it now that a lot of these developments have been completed in recent years."

Jay Segal, a land use attorney at Greenberg Traurig who is working with Messrs. Chetrit and Bistricer on the 77 Commercial St. project, said the developers were sensitive to the community's concerns and would not segregate the low income residents. Building amenities, for instance, such as gym access would be available for all residents. The affordable units will be on the project's base floors, he said, but would have views of the city and river. They will also have the same finishes and tall ceiling heights as market rate units he said. Mr. Segal said the developer would also seek to create a common entrance to the property but didn't exclude the potential for a two-entrance configuration because the building is still in the design process.

[reencharles]

"Greenpoint not Dubai"? Wow, can not believe I read that. Coming from a NIMBY, could not expect anything else.

[NYguy]

"Greenpoint not Dubai"? Wow, can not believe I read that. Coming from a NIMBY, could not expect anything else.

Everything is either "Hong Kong" or "Dubai" with these people. You'd think they've never heard of a place called Manhattan. But I guess when NIMBYs outside the city fight against the "Manhattanization" of whatever, in New York you have to get more creative (and loony).

[NYguy]

http://www.crainsnewyork.com/article/20131106/REAL_ESTATE/131109946

2 big Greenpoint apt. towers get green light
The controversial proposals will each add a residential tower of as many as 40 stories to the north Brooklyn waterfront and will be among the last big projects approved under the Bloomberg administration.

By Joe Anuta
November 6, 2013


Now that the commission has given its blessing to about 700 of the roughly 5,500-units in the Greenpoint Landing project, along with the 720-unit 77 Commercial St. development, eyed for the northernmost section of the Brooklyn's East River shoreline, the City Council now has 50 days to make the final call.

Greenpoint Landing is proposed by developer Park Tower Group under the name Greenpoint Landing Associates, while 77 Commercial is a separate project that is being advanced by Chetrit Group under the name Waterfront at Greenpoint. Should they gain ultimate approval, the projects, which include multiple towers of 30-to-40 stories, would be among the final significant changes to the city's waterfront approved under the Bloomberg administration.

Community Board 1 had recommended that City Planning disapprove the project, while Borough President Marty Markowitz recommended the opposite, however, both attached a list of conditions that largely dealt with strains on public transportation and the affordable housing component of the project, which the developers said they would explore.

But community outcry over the height and density of the developments technically do not apply to the current land-use application. The impetus for building along the shoreline was actually a 2005 rezoning that not only cleared the way for massive projects like the two being proposed, but also set aside space for park land.

.....77 Commercial St. will feature a six-story base building containing 200 units of affordable housing, about 25,000 square feet of ground-floor retail, community space and a garage. Two towers will house 520 units of market-rate housing. According to stipulations in the 2005 rezoning, Chetrit purchased air rights from an adjacent city-owned lot for $8.2 million. The density from the vacant lot is being added on to their proposed structures, while the city will use the cash to develop the 2.54-acre Box Street Park. The application’s approval would make this deal official, while giving Chetrit permission to modify height and setback requirements.

[easy as pie]

they have a point on the poor design though

[NYguy]

they have a point on the poor design though

They wouldn't be happy with any design at this site. Brooklyn is not on its way to becoming Dubai.

[dumbo]

A friend used to have a metal shop where at this location. The biggest problem is the long walk to the subway. I guess the tradeoff is excellent views of the river for good transit access

[NYguy]

http://online.wsj.com/news/articles/SB10001424052702304403804579260362871638046

Brooklyn Tower Tussle
Proposal for Two Residential High-Rises on Waterfront at Center of Debate


http://s.wsj.net/public/resources/images/NY-CT023B_NYGRE_G_20131215183915.jpg


By Laura Kusisto
Dec. 15, 2013


A proposal for two high-rise residential towers on Brooklyn's waterfront is at the center of a debate over changes sweeping the Greenpoint neighborhood, where a dozen tall apartment buildings are planned along the East River.

City Council Member Stephen Levin must decide by the council's last session of the year Thursday whether to vote against a measure to allow two towers—one 30 stories, one 40 stories—at 77 Commercial St., instead of two 15-story buildings. The vote by Mr. Levin, who represents the area on the council, will likely be followed by his colleagues.

If allowed to build higher, developers Joseph Chetrit and David Bistricer would be expected to deliver 200 units of affordable housing and money for a long-promised park, softening the impact of thousands of new residents moving to the area.

But to some in Greenpoint, voting no represents a rare opportunity to put a brake on the rapid pace of development. "There are developers poised to develop all along the waterfront, and a lot of them are watching," said Michael Brown, a 33-year-old community organizer. "We have to make a stand, and we have to say that if you are going to delude and destroy our culture and change the character, you're not going to do it without a fight."

A spokesman for the developers defended the project. "The community has made clear that North Brooklyn needs more open space and affordable housing, and we see this as an immediate opportunity for those goals to be achieved," he said.

The debate underscores the passions still roiled by the city's decision in 2005 to allow about 5,500 new apartments in high-rise buildings on the Williamsburg and Greenpoint waterfronts, once home to oil refineries and shipyards.

Building kicked off quickly in Williamsburg, a more popular area with better transportation, but the recession put a damper on developers' ambitions in Greenpoint. The area has seen only a smattering of new buildings, and Polish delis and auto- body shops still outnumber upscale coffee shops. Now development in Greenpoint is picking up rapidly, to the surprise of many residents who barely remember the rezoning of eight years ago.

"A lot of what's happening in Greenpoint is the awakening to the realization that 'Oh my God,' development is going to happen here," said Ward Dennis, co-chairman of Neighbors Allied for Good Growth, an organization advocating for waterfront access in Williamsburg and Greenpoint.

At the northwestern tip of Brooklyn, 77 Commercial St. is small compared to other projects moving forward in Greenpoint, but anti-development forces have focused on it because it is a rare site where the rezoning allowed only 15-story buildings, not 30-plus-story buildings. To build taller, Messrs. Chetrit and Bistricer plan to purchase development rights from a neighboring site owned by the Metropolitan Transportation Authority, paying about $8.2 million to build a park there and agreeing to include below market-rate units. The additional height, though, still needs approval from the City Council.

The deal is important to Mayor Michael Bloomberg's administration because it would help deliver on promises to create affordable housing and parkland along the East River, pledges that made the 2005 rezoning easier to swallow. Small portions of the parkland and affordable housing have been built. Mr. Levin, developers and city officials are negotiating a last-minute deal to get more funding for the park and to target the affordable housing to more low-income residents. People involved with the negotiations said they are hopeful agreement would be reached, but some said they remain far apart on crucial issues.

Some community groups are uncomfortable with allowing taller buildings at 77 Commercial St., but they support the project nonetheless. "I would love to have one gigantic park at the East River. That would be something that would be perfect for the community. It's not the way that's going to happen," said Christine Holowacz, co-chairwoman of the Greenpoint Waterfront Association for Parks and Planning. "You have to just see whether you can make a deal where the community would benefit those most."

Whether or not 77 Commercial St. is approved, change in Greenpoint is inevitable.



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[NYguy]

http://therealdeal.com/blog/2013/12/20/city-council-greenlights-77-commercial-street-project/

City Council greenlights 77 Commercial Street project


December 20, 2013



City Council member Steve Levin ultimately came down on the side of Joseph Chetrit and David Bistricer’s high-rise development at 77 Commercial Street, with the rest of City Council in tow. The council voted to approve the controversial development today, according to word from Levin’s office cited by Brownstoner.

The developers are also paying for a free shuttle to the No. 7 and G trains, and city funding totaling $9.5 million will go to the creation of a new park called Box Street Park.

At least 5,000 feet of community space are required as part of the approval, and retailers must occupy no more than 5,000 square feet, with preference going to neighborhood businesses.

[Crawford]

Good news. Nice to see the development spreading not only to the East River waterfront, but inland, along the Newtown Creek.

As the Newtown Creek continues its federal cleanup, I assume it will have much more of a residential, high-density future.

[sbarn]

Great news. There was no reason for this one not to be approved.

[chris08876]

Demolition Imminent: 77 Commercial Street

http://www.yimbynews.com/wp-content/uploads/2014/07/77-Commercial-Street-Rendering.jpg

In December of last year, Greenpoint councilman Steve Levin gave 77 Commercial Street the all-important local thumbs-up, and the rest of City Council followed suit, voting to approve the project. Two towers are planned for the site – one 30 stories, the other 40 – on the condition that the developer set aside 200 of the 700 apartments to let at below-market rates, and include 5,000 square feet of community space.

The development was made possible by the purchase of air rights from the MTA, which, as Brownstoner explained last year, came with some conditions:
The city and the developer will provide $14,000,000 in funding to relocate all of the vehicles currently at the park site, including MTA Access-a-Ride vehicles and Emergency Response Units. And the developer promises 9,500 square feet of open space around the two towers, “as a second fully landscaped walkway to serve as community access from the east” and a path to where Commercial Street dead-ends at the industrial waterfront. There will also be a free shuttle to the 7 and G trains (paid for by the developer), and the MTA will work with the developer to run a bus line along Commercial Street.

Now, preparation of the site for development is underway, as permits were filed in June for the erection of a construction fence and sidewalk shed, and permits requested yesterday for the demolition of the site’s existing two-story structure.
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http://www.yimbynews.com/2014/07/demolition-imminent-77-commercial-street.html?__hstc=109812634.4bc174201bbfdcba3d178bcf7efc5a6e.1395033183231.1405594341999.1405612618496.202&__hssc=109812634.2.1405612618496&__hsfp=3131269886
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06/02/2014 321004122 01 A2 R PERMIT-ENTIRE 06/02/2014 0013563 RA DEMOU NOT APPLICABLE
INSTALLATION OF CONSTRUCTION FENCE. NO CHANGE TO USE, EGRESS OR OCCUPANCY
Work on Floor(s): OSP

06/03/2014 340150473 01 A3 R PERMIT-ENTIRE 06/03/2014 0080123 PE SYED-NAQ NOT APPLICABLE
INSTALLATION OF SIDEWALK SHED AS PER PLANS. WORK SHALL COMPLY WITH 2008 BU
Work on Floor(s): OSP

07/15/2014 321217447 01 DM E AP-NPE 07/15/2014 0072184 PE STROH NOT APPLICABLE
FILING FOR DEMOLITION OF EXISTING TWO STORY COMMERCIAL BUILDING AS PER PLA
Work on Floor(s): 001,002,ROF

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http://a810-bisweb.nyc.gov/bisweb/JobsQueryByLocationServlet?requestid=5&allbin=3063675&allstrt=COMMERCIAL%20STREET&allnumbhous=77

[Submariner]

they have a point on the poor design though

Why? This city has thousands of apartment buildings - some high end, many not. It's not as if people currently have to walk through the Pierre to get to the projects.

People should be happy that they are getting nice subsidized housing with fantastic waterfront views. The entitlement of these people is astonishing - if they want to enter in the "rich door" they are free to pursue lines of work that pay well enough to do so.

[chris08876]

Why? This city has thousands of apartment buildings - some high end, many not. It's not as if people currently have to walk through the Pierre to get to the projects.

People should be happy that they are getting nice subsidized housing with fantastic waterfront views. The entitlement of these people is astonishing - if they want to enter in the "rich door" they are free to pursue lines of work that pay well enough to do so.

Exactly! Its annoying hearing the lazy complain. Want more money, work hard, study, and make it! You tell em!!! :tup:

[chris08876]

Three New Building Permits Filed for 77 Commercial Street

http://cdn.brownstoner.com/wp-content/uploads/2013/12/77-commercial-street-greenpoint.jpg

The waterfront megadevelopment at 77 Commercial Street in Greenpoint is kicking into high gear this week with three new building applications for towers at 77, 85 and 87 Commercial Street. CetraRuddy Architecture filed plans for a 30-story, 224-unit building at No. 77 and a 40-story, 296-unit building at No. 87. The two high-rises will reach 306 feet and 402 feet into the air, easily dwarfing everything else near the Greenpoint waterfront.

The final building at No. 85 will be only six stories tall but hold 200 apartments spread across 230,149 square feet. It will also have 300 underground parking spots, 360 bike storage spaces, MTA offices and parking, ground-floor retail and the development’s leasing office, according to Schedule A filings. Developer Chetrit Group has promised to set aside 200 units of affordable housing and work with the city to create Box Street Park.

Meanwhile, site work began last month at the Greenpoint Landing, which is next door on Commercial Street and will eventually include 10 towers, four acres of park land and a K through 8 school.

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09/18/14
http://www.brownstoner.com/blog/2014/09/three-new-building-permits-filed-for-77-commercial-street/?ic_source=ic-featured-frontpage-top

[sparkling]

Chetrit, Clipper Take NYCB Land Loan (http://commercialobserver.com/2015/05/chetrit-clipper-take-nycb-land-loan/)

GUELDA VOIEN
5/15/ 2015
A partnership of The Chetrit Group and Clipper Equity took a $27.5 million bridge loan, backed by the land at 77 Commercial Street in Brooklyn’s Greenpoint neighborhood, Commercial Observer has learned.

As Commercial Observer has reported, the pair plans to develop a 720-unit, two-tower residential complex at the address. The land looks over Newton Creek—some of the last undeveloped waterfront land in the nation’s trendiest borough.

The City Council approved the plan last year, according to reports.

The two-year loan, with an interest rate over U.S. prime, was provided by New York Community Bank, a source close to the deal said on the condition of anonymity. The fixed-rate loan features all interest-only payments. The loan will be used to acquire air rights, the source said.

Meridian Capital Group negotiated the loan, a spokesman for the brokerage confirmed. Meridian Executive Vice President Aaron Birnbaum and Vice President Tal Savariego handled the deal, the representative said.

“The borrower acquired the waterfront site in 2012 and recently finalized a development agreement to acquire additional air rights from New York City Housing Preservation and Development,” said Mr. Savariego via the spokesman. “Meridian arranged a competitive balance sheet land loan to provide the borrower funds for the air rights purchase and additional time to finalize plans and arrange construction financing for the project.”

https://nyocommercialobserver.files.wordpress.com/2015/05/77-commercial.jpg

[ILNY]

Under construction.

https://farm5.staticflickr.com/4137/35235588790_cfb06352c6_o.jpg


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[streetscaper]

from today, by me

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[Arkali106]

The under construction photos are of Greenpoint Landing G1, not 77 Commercial Street.

[chris08876]

Clipper Equities buys out Chetrit at 720-unit Greenpoint project

David Bistricer’s Clipper Equities has bought out the Chetrit Group at their massive Greenpoint project on Commercial Street, according to the developer.

Bistricer declined to discuss the financial terms of the buyout and described the move as “strategic planning stuff” between him and Chetrit. He said they still have other partners on the site, and Chetrit’s departure has not changed their plans for the project.

“We’re going full speed ahead on what we’re doing,” he said.

Chetrit declined to comment.

The project at 77 Commercial Street will include 720 units across three buildings, and the developers have pledged to make 200 of the units affordable. It was permitted in the spring of 2015—a time when developers were extremely worried about losing the 421a tax exemption, which allows them to pay lower taxes for 20 years if they invest in affordable housing—but has not seen much progress since then.

Over the last year, the Chetrit Group has sold its stakes in other developments across the city. The Real Deal reported last August that the firm was bought out by partner Michael Stern’s JDS Development Group at 9 Dekalb Avenue, for nearly $60 million. Up in the Bronx, Chetrit and Keith Rubenstein’s Somerset Partners sold their massive Mott Haven development sites to Brookfield Property Partners for $165 million.
============
TRD (https://therealdeal.com/2019/04/04/clipper-equities-buys-out-chetrit-at-720-unit-greenpoint-project/)

[chris08876]

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Credit: JC_Heights (https://forum.newyorkyimby.com/t/new-york-77-87-commercial-st-429-331-80-ft-40-30-7-floors/233/10?u=chris08876)

[chris08876]

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Credit: JC_Heights (https://forum.newyorkyimby.com/t/new-york-77-87-commercial-st-429-331-80-ft-40-30-7-floors/233/13?u=chris08876)

[chris08876]

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Credit: Michael Young via NYY (https://newyorkyimby.com/2022/02/facade-installation-begins-for-77-87-commercial-street-as-construction-rises-in-greenpoint-brooklyn.html)

[chris08876]

https://newyorkyimby.com/wp-content/uploads/2022/08/image00089-1-scaled.jpeg
Credit: Michael Young via NYY (https://newyorkyimby.com/2022/08/77-87-commercial-streets-facade-reaches-final-floors-in-greenpoint-brooklyn.html)

[chris08876]

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Credit: Skyalign (https://forum.newyorkyimby.com/t/new-york-77-87-commercial-st-429-331-80-ft-40-30-7-floors/233/22?u=chris08876)

[chris08876]

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Credit: Michael Young via NYY (https://newyorkyimby.com/2023/01/exterior-cladding-for-waterview-at-77-87-commercial-street-nears-completion-in-greenpoint-brooklyn.html)

[chris08876]

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Credit: Skyalign (https://forum.newyorkyimby.com/t/new-york-77-87-commercial-st-429-331-80-ft-40-30-7-floors/233/24?u=chris08876)

[chris08876]

https://global.discourse-cdn.com/business5/uploads/yimby/original/3X/1/c/1c244652994600d8eb320bbd269d3baa59561a0a.jpeg
Credit: Skyalign (https://forum.newyorkyimby.com/t/new-york-77-87-commercial-st-429-331-80-ft-40-30-7-floors/233/27?u=chris08876)

[chris08876]

https://global.discourse-cdn.com/business5/uploads/yimby/original/3X/6/3/63c875589d217d0947d516c03d0a4ab6c3027098.jpeg
Credit: JC_Heights (https://forum.newyorkyimby.com/t/new-york-77-87-commercial-st-429-331-80-ft-40-30-7-floors/233/32?u=chris08876)