Category Archives: Architecture

Greenpoint’s time is around the corner

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Brooklyn has been in the spotlight lately as it comes into its hip identity, with most chatter about Williamsburg. The New York Times spends some time in Greenpoint, with its “grit and quaintness,” and recognizes that with massive plans ahead, it’s on the way to becoming the next “it” place.

“Greenpoint’s residential waterfront quay will ultimately stretch for approximately 13 blocks: “It’s going to be bigger than Williamsburg, it’s going to dwarf Dumbo, and be twice the size of the Long Island City waterfront, like a massive version of the West Village waterfront. It’s going to be nothing like Hoboken: it’s going to be really cool.”

With all of the attention Greenpoint has gained, business and residents are already seeing a change—in people, in goods, and in prices.

Read the full article at the New York Times:
http://www.nytimes.com/2012/07/22/realestate/in-brooklyn-greenpoint-ready-to-follow-in-williamsburgs-footsteps.html

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New condos suggest market rebound

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Brokers, analysts, and developers are calling a market rebound, but not without a few cautions. New condos are returning to NYC, and our president, Stephen Kliegerman, sheds insight on the market’s forecasted comeback:

“‘I would call it a swell,’ said Stephen Kliegerman, president for new development marketing of Halstead Property. ‘It’s not a wave yet, but it’s certainly not a drizzle either.'”

Although the rebound is nowhere near (and not expected to be) the peak in 2006-2007, supply is getting shorter and a new crop of condos are paving the way for a developer’s market.

Read the full article at the New York Times: http://www.nytimes.com/2012/07/15/realestate/back-in-business.html?_r=2&pagewanted=all

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Construction To Go Digital

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TechCrunch takes a look at how tablets are revolutionizing the construction and the new development process. They call out that architects and engineers have become so efficient that they only cost about 8% of the total construction budget, and are streamlining design, communication, and effort with digital tools instead of paper.

The entire planning process is digital until construction—then come printed construction plans and blueprints. With so many digital tools available, tablets and advanced software hint a more streamlined construction process.

  1. Getting rid of printed blueprints in favor of digital, dynamic blueprints
  2. Clearer, instant communication between construction crew, engineers, architects, and approvals
  3. Tracking progress, and calculating crew efficiencies (or inefficiencies)

Read the full article at TechCrunch:
http://techcrunch.com/2012/03/11/tablets-will-transform-construction/

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The New Breed Of Real Estate Investor

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When markets are booming, condominiums are often snatched up quickly by invisible buyers and flipped soon after for big profits. This past year, however, a new breed of investor has emerged, one that is being dubbed “The Investor Next Door”. People are buying two and sometimes three units in the buildings where they currently live as investment properties.

Our own Stephen G. Kliegerman says that “these are people who are looking for investments they can understand and somewhat control”. Because the stock market is becoming more and more difficult for the average person to understand, people are reverting back to investment opportunities that make sense and real estate is at the top of the list.

Interest rates are low making it a great time for people to buy and rent out these investment properties. The convenience of being able to watch over rental properties is very attractive to some investors; rent checks are slipped under their doors and they can personally oversee their tenants. Elisabeth Kovac (seen below) owns two apartments at Fifth on the Park, one she lives in and the other she rents out. She has watched the units get snatched up in her building over the years making the decision to invest in a rental property even easier.

These investments are not to make a quick buck, according to a research company in West Chester, Pa., people interested in purchasing these properties as investments should plan on sitting on them for a while. We think this is a great trend in real estate and recommend taking a further look if this sounds like something you might be interested in!

Images + Article Source: NYTimes [Read full article here]

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