A SPECIAL ADVERTISING SUPPLEMENT TO THE NEW YORK OBSERVER

Brooklyn Living K_\@ej`[\iÊjI\Xc<jkXk\Xe[E\`^_Yfi_ff[>l`[\›Jgi`e^)'('

The
Essential
Resource
for
Prospective
Buyers
and
Local
Residents

The Latest Data

on Sales and COVER PHOTO
Rental Prices by
Toren
Brooklyn’s New Iconic Tower

Brooklyn
I
The Brooklyn f the entire population of the
Bridge. United States lived as densely
as Brooklynites, the entire
country could fit in an area the
size of New Hampshire. In many
ways, the borough is a microcosm
of the entire country, encompassing
all nationalities, occupations and
ideologies.
The borough’s official motto,
translated from Old Dutch, is “In
Unity There is Strength,” but unity
doesn’t mean homogeneity.Rather,
to live in Brooklyn is to celebrate
immense diversity, from the
geography to the people. Brooklyn
Heights gazes at downtown
Manhattan from gorgeous
brownstones. Williamsburg has a
nightlife that eclipses the Village,
while neighboring Bushwick lofts
provide havens for artists and a
D.I.Y. rock scene that’s resounded
throughout the world. Downtown
Brooklyn has become a hotbed for
new rental towers, sprouting in a
retail corridor, while Park Slopers
plant organic gardens and raise green
families and Cobble Hill residents
lounge on stoops.
Brooklyn has been home to
notable figures from all fields.
The borough is no stranger to
laughter: Woody Allen grew up in
Midwood, Mel Brooks was born in
Williamsburg and Eddie Murphy
is from Bushwick. Jerry Seinfeld,
Adam Sandler, Jimmy Fallon, Chris
Rock, Larry David, and Joan Rivers
are Brooklynites, too.
You wouldn’t want to challenge
Brooklyn to an arm wrestling match
either, since sports stars like Michael
Jordan, Carmelo Anthony and
Joe Torre all hail from Brooklyn. If
that wasn’t enough, Al Capone was
born in Park Slope.Manhattan may
have fancier recording studios, but
Woody Guthrie and Neil Diamond
are from Coney Island, while
Bedford-Stuyvesant is a center of rap,
with residents like Jay-Z, Mos Def,
Busta Rhymes, Lil’ Kim, and Talib
Kweli. Barbra Streisand is from
Williamsburg.
If film is your thing, check out
this cast: Richard Dreyfuss, Alyssa
Milano, Tony Danza and Steve
Buscemi, directed by Spike JonzeIn
the media world, Larry King, PBS’s
Ray Suerez and the New Yorker’s
Ken Auletta have all called Brooklyn
home.
Market Overview
Brooklyn’s residential stock
Brooklyn’s New Iconic Tower
Enhance the Design
in Your Life.
Studio, 1, 2 and 3 bedroom homes ranging from
$323K—$1.695M available for immediate
occupancy. 25 Year 421-A Tax Abatement
approved. FHA & Fannie Mae approved.
ANDREW MACE
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By Roland Li
// pool with skylight
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// 24 hour attended lobby
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condos to brownstones to lofts, and // library-lounge
in aggregate, makes for a strong // landscaped bi-level outdoor roof deck open
market. It’s transformed significantly
// on-site gourmet grocery store, coming soon
in recent years, with gentrification
changing rougher neighborhoods
into highly desirable areas, while still
maintaining the borough’s overall
stock of affordable housing and
character.
Activity in the residential selling
and buying market has increased
tremendously in the last few months,
as the economy improves and
demand increases. Along with the
seasonal shift of new employees
and students, an $8,000 federal tax
credit for first-time home buyers has
energized sales. The credit required
contracts to be signed by April 30
and sales to close by June 30, and
the first quarter has spurred by new
buyers.
“Things that are well-priced are
actually going into bidding wars.”
says Sarah Burke, executive vice
president and director of sales
at Prudential Douglas Elliman’s
Williamsburg office. “Things that
are way overpriced aren’t getting
torencondo.com 718.222.TOREN (8673) SOM-designed, on track for Gold
LEED certification. Powered by on-site
a lot of traffic.” Overall, the selling
price of properties in Brooklyn SALES GALLERY AT 150 MYRTLE AVENUE, BROOKLYN, NY 11201 cogeneration plant.
neighborhoods that Elliman tracks
The complete offering terms are in an offering
plan available from sponsor, file no. CD07-0666.
Two subway stops from Union Square.
DEVELOPMENT LOCATION: 150 MYRTLE AVENUE,
BROOKLYN, NY 11201
 The Knick in were down 1.8 percent in the first
Bushwick has quarter of 2010, compared to the
modern living first quarter of 2009.
in a vintage “We had a fantastic first quarter.
building. This second quarter is looking to be
strong. It has not gotten worse. We’re
not at peak 2007 time, but I don’t
think that will be coming around for
a while. I think the market is what
a typically healthy market would
be right now. There is not too much
inventory, there are plenty of buyers
out there,” she added.
“Brooklyn is doing extremely
well. The last four or five years, it’s a
neighborhood of choice. The prices
are very competitive and reasonable
compared to many places. Many
people find the quality of life is really
great,” says Tom Le, a senior vice
president and associate broker at
Corcoran’s Williamsburg office.
Meanwhile, rents have weathered
the downturn reasonably well,
and the most popular markets in
Brooklyn have not been devastated
by the downturn. Asking rents
remain strong, and while noticeably
less than peak prices, competition
for especially desirable properties
is high, mirroring the market for
sales.
Many new developments have
moved forward, despite the weak
economy, and some have broken
ground in newly fashionable
neighborhoods, such as Bushwick
and Downtown Brooklyn. The
sheer mass of Brooklyn allows for
more new development, compared
to the cramped, narrow confines of
Manhattan, and as space runs out,
developers can always move on
The view from to the next neighborhood, usually
further east.
East River
State Park in
Williamsburg.
Williamsburg
Williamsburg has become one of
4
the most heralded neighborhoods
in Brooklyn in recent years. While it
has become infamous in some ways,
canonized as a nexus for hipsters,
the neighborhood has undeniable
appeal. “Is one of the most prolific
neighborhoods for restaurants,
culture, nightlife and the bohemian
art scene,” says Mr. Le. “They used to
compare it to the East Village, but it’s
no longer the second East Village. It’s
the destination of choice.”
Mr. Le is marketing 14 Hope
Street, a 23-story development that is
over 85 percent in contract after nine
months, with about a third of the
building sold in the last three months.
At 285 Driggs Avenue, each of the
12 lofts are in contract, and at 268
Wythe Street, a 13-unit development
just a couple blocks from the East
River, over 70 percent of the building
is in contract. “It definitely feels like
the entire marketplace is picking up
very strongly. The last three months
have been really prolific for me,” he
says.
The area’s renown has spread
globally, and Mr. Le says he’s
completed transactions with seven
European homebuyers who paid
in cash. “I definitely see an uptick.
Williamsburg has fared a lot better
than people thought it would,” says
Maggie Leigh, an associate broker
MMZach, Wikipedia
THE BEST OF BROOKLYN
with the De Niro Group at Prudential
Douglas Elliman. She was so charmed
by an open house at 125 North 10th
Street that she decided to move
in herself. That building opened
STU N N I N G�VI EWS�AN D�LI G HT! CO NVERTED�SCH OO L����F T��CEI LI N G S PACI O U S�WATER FRO NT���B ED ROO M
last June and includes a doorman,
:LOOLDPVEXUJǧǧ Stunning apartment (DVW:LOOLDPVEXUJǧǧ Close to the :LOOLDPVEXUJǧǧ Elegant 3 bedroom home
elevator, common roof deck and gym.
with unsurpassed eastern and southern views. M train and only 10 minutes from lower Manhattan. in Schaefer Landing on Williamsburg’s waterfront.
Following price cuts, the project is In mint condition! Large sun-flooded living/dining Loft space in each bedroom, adds extra space and 1,650 sq. ft. with the best views in this full-service
now 60 percent sold. area with floor to ceiling windows. Won’t last! Web Soho ambiance. Private parking and storage are building. Web # 1180675. Christine Blackburn
In addition to numerous condos, # 1241305. Pablo Cuevas 718.486.4492, Michal Kuras included! Web # 1146536. Borko Zubac 718.486.4404 718.486.4452, Lior Barak, SVP 718.486.4432
718.486.4001
two Williamsburg rental buildings,
managed by Rose Associates, are
opening this year.
184 Kent Avenue, on the East
River waterfront, is a conversion of
a landmarked bourbon warehouse
constructed in 1915. It was conceived
by architect Cass Gilbert, who also
designed Woolworth Building.
Amenities include a 24-hour
doorman, gym, rooftop barbecue
and valet parking. Rentals have been
MAS S IVE�M IXED � U S E�TOWN H O U S E! ELEGAN CE�I N�B ROWN STO N E�B K S PR AWLI N G���B ED ROO M�LO F T
brisk, according to Ms. Burke of
:LOOLDPVEXUJǧǧ Massive two-family %URRNO\Q+HLJKWVǧǧ 2 Grace Court is a %HOOWHO/RIWVǧǧ Open and airy 2 bedroom
Elliman, with around 100 of the 338
house plus store, brick corner property. Manhattan charming 6-story elevator, doorman co-op near the 2 bath loft with 12 ft. ceilings. Michael Ettelson, VP
units renting in the last few months. views! Web # 1160180. Pablo Cuevas 718.486.4492, famous Promenade and newly opened Brooklyn 718.596.2355
34 Berry Street is a new Michal Kuras 718.486.4001 Bridge Park. This 1 bedroom has lovely pre-war
development opening in May and charm. Web # 1228110. Terry Naini, 917.841.1826
overlooking McCarren Park. It has a
landscaped courtyard, fitness center
and concierge.
Bushwick
Nearby Bushwick retains a gritty
industrial feel, with hulking lofts,
some converted from factories and
warehouses, and an independent
art scene. The McKibbin Lofts, for
example, have become infamous for
wild parties, cramped living spaces,
cheap rent, and hosting everything PRI M E�N O RTH S I D E�CO N DO R AR E�O PPO RTU N IT Y! U N O B STRU CTED�CIT Y�VI EWS
:LOOLDPVEXUJǧǧ1 bedroom home located :LOOLDPVEXUJǧǧ Rare opportunity for :LOOLDPVEXUJǧǧ This 2 bedroom,
from photo shoots to concerts
close to Bedford Avenue, 2 blocks from McCarren a creative end user to acquire a unique mansion 2 bath oasis in the sky with beautiful balcony facing
within its rumbling walls. There is Park and 3 blocks from the Bedford Avenue “L” train in north Williamsburg, or for that savvy developer south and floor to ceiling windows will keep you
also a strong Puerto Rican presence this boutique condo offers location and finish. Web with an original and visionary conversion plan. Web mesmerized for a lifetime. Web # 1209125. Borko
throughout Bushwick, and families # 1239132. Borko Zubac 718.486.4404, Sarah Burke # 1001376. Pablo Cuevas 718.486.4492, Michal Kuras Zubac 718.486.4404, Sarah Burke 718.486.4400
operate local businesses. 718.486.4400 718.486.4001
There’s a chance that Bushwick
could be the next big neighborhood,
and the Hudson Companies has FOR�A�COMPLETE�COLLECTION�OF�BROOKLYN�PROPERTIES PRUDENTIALELLIMAN �COM
developed three properties,
318 Knickerbocker Avenue, 334
2010

LCOR
Cobble Hill Knickerbocker Avenue and 794 Hart
towers on the Street, converting historic buildings
left and into luxury apartments with a goal
24 Berry Street of LEED certification. The project
weathered the recession, and units
on the right.
are being marketed now, with
Mr. Le involved with units at 318
Knickerbocker.
Greenpoint
North of Williamsburg,
Greenpoint has the second-largest
population of Polish-Americans,
giving the neighborhood an
ethnic flavor, from its bakeries
to discotheques. Rents are
particularly robust, thanks to
its location to Williamsburg and
Manhattan. “Greenpoint is starting
to be a big allure to people. It’s very
neighborhood-y. There’s a huge
spurt of retail and restaurants,” says
Ms. Burke of Elliman. Particularly
among Manhattan Avenue, local
retailers are being joined by the likes
of McDonald’s, Citibank and Chase,
creating a significant retail corridor.
However, the area is still
predominantly residential, and is
home to many churches. It also
shares the sprawling McCarren Park
with its neighbor, Williamsburg.
Carroll Gardens
“The residential market is very
optimistic,” says Leslie Marshall, a
senior vice president and associate
broker at Corcoran.
She is marketing 44 condo units
at Third and Bond in Carroll Gardens,
with four signed congrats and a few
in negotiation. Students from the
nearby Pratt Institute, in Clinton Hill,
designed the interiors of two model
apartments in the building.
The building is in the heart
of Carroll Gardens, named after
Charles Carroll, whose signature
can be found on the Declaration
of Independence. Historically, the
neighborhood was working class and
6
associated with Red Hook, but it’s
emerged as an upscale neighborhood
and a destination for outsiders. Even
Red Hook is changing, with an IKEA
which opened in 2008.
Still, the natural beauty of the
area is undiminished, with flora that
lives up to the neighborhood’s name.
“Carroll Gardens is really beautiful in
the spring. There really are beautiful
gardens. It’s an incredible, vibrant
neighborhood,” says Ms. Marshall.
“It all sort of converges along Carroll
Gardens,” she added, noting its
proximity to Park Slope, Downtown
Brooklyn and DUMBO.
Cobble Hill
In nearby Cobble Hill, apartments
are being traded quickly, but a lack
of residential stock makes sales
competitive. “On the sales side,
availability has been the biggest
issue. There’s not a lot of product
available on the market. For Cobble
Hill, I did a very broad search for
available properties, $500,000 to
$900,000. There 12 apartments in
the category,” says David Felman, vice
president and associate broker at Citi
Habitats, and a 10 year resident of
Cobble Hill. Five of the 12 apartments
he found were on Tiffany Place,
which were on the outskirts and
close to Red Hook, he said.
One of the most significant
developments was the arrival of
Trader Joe’s at 130 Court Street in
2008. The food chain converted a
historical bank building, proving
that modern commerce and historic
architecture could indeed co-exist.
Park Slope
There’s something
quintessentially Brooklyn about
the Slope. Although Prospect Park
rivals Central Park in size, living
around Prospect Park couldn’t
be more different. Instead of the
limousines, chandeliers and silence
The Beach & Rooftop Lounge
at The Brooklyner
that characterize the Upper West
and East Sides, residents of the Slope
are much more likely to be eating at
organic food co-ops, raising children
in brownstones, and, well, walking.
“I have a lot of people who are
moving there for the first time, or
long time renters who are looking to
buy,” says Django Gilligan, a senior
associate salesperson at Citi Habitats.
“The school districts are topnotch
for Brooklyn.” Prices seem to have
leveled off. Whereas buyers were A PRIVATE BEACH IS “SO” BOURGEOIS,
looking to get an apartment on
the cheap during the darker days
UNLESS, OF COURSE, IT’S YOURS!
of the downturn, now “offers are BBQ in The Backyard, take in Atlantic Ocean views
reasonable,” he says. & soak up the sun this summer at The Brooklyner
As far as rentals, Mr. Gilligan
says he is seeing many multiple
bedroom rentals. In the past, it
was often three adult roommates
sharing an apartment, but now
he sees parents and two to three
children in an apartment. Rents are
generally cheaper than in luxury
buildings in Downtown Brooklyn or
Williamsburg, and offer more space.
While they lack the luxury amenities,
brownstones offer “inlaid floors,
crown moldings and fireplaces,” says
Mr. Gilligan, charming hallmarks of
the Slope. There’s virtually no new
development within the Slope, since
brownstones and low-rise buildings
saturate the space around the park,
leaving a void of development sites,
similar to Greenwich Village.
Jamella Swift, a senior associate
broker at Citi Habitats, is marketing
185-187 13th Street, a new boutique
development in Park Slope, very
close to Gowanus, an industrial area
that gives its name to the canal that
runs through the neighborhood.
Prices range from around
$400,000 for a one bedroom to
almost $700,000 for a two-bedroom
apartment, with a number of units
in contract. Ms. Swift is marketing a
much different property in Crown
Borough
Heights, east of Prospect Park: six
sNow the tallest building in the borough s Nearly every subway line is accessible within 3 blocks
two-bedroom units priced at around Mon
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$300,000, with exposed brick and 24-Hour Concierge s On-Site Valet Parking s Lobby Coffee Bar & ATM s Myrtle Ave
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a stainless steel kitchen. Nearby State-of-the-Art Gym s Bike Storage & Free Amsterdam-Style Cruiser
Rem 2 3
Franklin Avenue is a retail hotbed, sen A C F
Bike Rentals s Backyard with Grills & a Fire Pit s Lodge featuring Skee St
4 5 Metrotech Walk
with restaurants, lounges and bars.
Jay St
Ball, Billiards & a Gaming/Screening Room
Joralem
Bedford-Stuyvesant
on St
New studio, 1 & 2 bedroom rentals at 111 Lawrence Street in Borough Hall Willoughby St M R
Lawrence St
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The victorian great community,” she says. “I’ve
row houses of sold a lot of properties here. I see
Park Slope. my customers around. It’s a really
close-knit neighborhood. We’re very
protective of Bed-Stuy and its image.”
Although it has a dangerous
reputation, with riots in the 1960s,
the neighborhood’s crime rates
have fallen significantly in the last
decade. Some of the neighborhood’s
brownstones are comparable
to Park Slope in quality, but are
generally much more affordable. The
neighborhood has been depicted in
numerous films and songs, including
Spike Lee’s Do The Right Thing and
Summer of Sam. “We really don’t
have to go to Manhattan to have a
good time. There’s so much to do
here,” says Ms. Swift. “In terms of
the energy level, it feels different.
Manhattan is very busy, it always
feels like it’s on. When you get off
the train in Brooklyn, you feel more
relaxed. You’re seeing a lot of trees.
You see children playing.”
DUMBO
A lack of inventory exists in
DUMBO, a gateway into the Financial
District, simply because it is one of
the smallest neighborhoods in Brook-
lyn. The Manhattan and Brooklyn
bridges that give the area its name,
“Down Under Manhattan Brooklyn
Overpass,” provide easy access into
Manhattan, and this proximity makes
the neighborhood’s housing stock es-
pecially valuable. The small housing
stock and location means that prices
are among the highest in Brooklyn,
upwards of $1,000 per square foot
for sales. One of the most prominent
developments is J Condominium, a
33-story tower with a curved facade
and luxury amenities.
The new
condos at
14 Hope Street
in Williamsburg
8 The complete offering terms are in an offering plan available from the Sponsor. File # CD06-0316. We are pledged to the letter and spirit of U.S. policy for the
Downtown Brooklyn
Downtown Brooklyn was
primarily known as a business
center, and the third-largest district
in the city after midtown and
Lower Manhattan. The MetroTech
Center and Williamsburgh Savings
Bank Tower are some of the iconic
buildings in the area, and schools
like Polytechnic Institution of NYU,
Long Island University, Brooklyn
Law School and New York City
College of Technology have campuses
in downtown. However, in 2004,
downtown was rezoned for denser
residential development, and the city
committed $300 million in capital
funds towards public improvements,
according to the Downtown Brooklyn
Partnership, the organization that
oversees the three local business
improvement districts.
Since the rezoning, the area has
moved from a business-oriented
neighborhood towards a 24-hour
residential community, much like the
Financial District in Manhattan, and
a surge of new rental buildings have
arrived in the area, many with luxury
amenities. Avalon Fort Greene on
Flatbush Avenue is a 620-unit rental
building, developed by Avalon Bay
Communities. The building features
a fitness center and resident lounge,
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Greogry Kat
and apartments have gourmet
kitchens with granite countertops
and personal washers and dryers.
The Brooklyner at 111 Lawrence
Street, a 491-unit rental building, was
developed by the Clarett Group and
is the tallest building in the entire
borough, with a private dining room,
skee ball and a screening room.
Although known more for its
Atlantic Yards project, Forest City
Ratner also developed DKLB BKLYN,
a 65-unit mixed-income rental and
designed for LEED certification.
Other rentals in the area include
BKLYN Gold, two buildings at 257 Condominium approved for financing by FHA.
and 277 Gold Street, a 95-unit
building with retail called the Andrea, Special Rent to Own program.
and State Renaissance Court at
Schermerhorn and Hoyt Streets. Studio, 1, 2 and 3 Bedroom Residences.
Brooklyn Heights
Brooklyn Heights was one of
Great layouts. Open kitchens, floor-to-ceiling glass
and amazing views.
the first commuter communities
to Manhattan, with the steam ferry
providing service to Wall Street A menities are finished, including a 50' indoor pool,
in the 19th century. It became the 2-story fitness center, and resident lounge with
city’s first historic district, thwarting
a plan from Robert Moses to build
screening room.
the Brooklyn-Queens Expressway Studios from $350,000
directly through the neighborhood.
Now, many subway lines converge in
IMMEDIATE OCCUPANCY 1 BR's from $501,000
15-year 421a Tax Abatement
Brooklyn Heights, making it one of 2 BR's from $535,000
the most convenient areas as far as
3 BR's from $1,225,000
public transit.
The neighborhood has been
SALES OFFICE OPEN 7 DAYS
one of the premier Brooklyn Monday through Friday from 10 am - 6 pm
residential markets for decades, Saturday and Sunday from 11 am - 5 pm
with brownstones commanding
one of its highest asking prices Appointments preferred but walk-ins welcome
and rents. However, its nightlife
isn’t quite as vibrant as some
other neighborhoods.“It’s mainly OroCondos.com
geography. It’s closest to Manhattan.
People really like to have that view,” (866) 476-3742
says Mr. Gilligan of Citi Habitats.
But while people may enjoy
looking at Manhattan, it seems a
EXCLUSIVE MARKETING & SALES AGENT:
306 GOLD STREET
good number of them would still BROOKLYN, NY 11201
prefer to live in Brooklyn.
achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no
barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, sexual orientation or national origin.
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Live music
every night at
Williamsburg Avenue, 347-529-6696) just
opened a few months ago which
free concerts for a few summers. It’s
currently being converted back to a
➜SEA (114 North 6th Street, 718- A 4@=;
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9
The Knitting moved from Tribeca. Music Hall of pool.


384-8850) is a Thai restaurant with

! 
Williamsburg (66 North 6th Street) ➜El Almacen (557 Driggs Avenue,
 @
Factory. two bars and a D.J. The 7,500-square-
and neighbor Public Assembly (70 718-218-7284) is a cozy Brazilian
foot space has a Buddha statue,
North 6th Street, 718-384-4586) eatery, with a garden in the back. The
reflecting pool and bubble chairs.
A 4@=;
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have nightly concerts, and Brooklyn avacado fries, mouth-watering steaks

9
➜Dresler (149 Broadway, 718-


Bowl (61 Wythe Ave, 718-963-3369) and wine list make for a savory

# 
384-6343) is one of the most upscale


combines music with a bowling alley experience.
restaurants in the area, owned by
Colin Devlin of nearby Dumont. Chef
and restaurant. ➜The Pool Parties at East River
Polo Dobkin earned a Michelin star in
➜McCarren Park is 35 acres of State Park are the successors to
grass, soccer fields, playgrounds and the wildly successful free concerts
each of the last three years. A tasting
courts. The pool was built in 1936, at McCarren Pool. Promoter JELLY
menu includes bacon-wrapped
and was most recently the host of NYC books independent acts, and
monkfish, hanger steak and savory
crepe.
➜Walter Food (253 Grand Street,
718-387-8783) is an American
Bushwick Avenue.
bistro with a logo of a bull’s head
on a fish’s body. Fittingly, the menu
encompasses both sides with steak
and seafood, including a raw bar with
oysters, clams and lobster. There’s
also a full bar (one of the owners is
Danny Minch of SoHo’s Balthazar)
It wouldn’t be Williamsburg
without the music, and the area is
filled with concert venues. The new
Knitting Factory (361 Metropolitan
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 developed by
developed by
is also powered by green energy,
and trash and waste is recycled and
composted.
➜Littlefield (622 Degraw Street,
718-855-3388) is a young venue
that fuses Gowanus’ industrial and Hudson
organic character. The converted Hudson
❤
Gowanus 1920s warehouse has a landscaped ❤
Brooklyn
Yacht Club, courtyard, wind power and a sound Brooklyn
cold beer and wall created from recycled rubber
hot dogs but tires.

semarr
no boats ➜The Bell House (149 7th Street,
718-643-6510) is a two-room venue
with a 25-foot-high music space and artist’s rendering
the parties also have dodgeball and
giveaways. The biggest enemy is
Carroll Gardens, Gowanus a bar with an extensive list of drinks artist’s rendering

rain, as the outdoor space can get

➜Frankies Spuntino (457 Court and regular DJs.
Street, 718-403-0033), owned by ➜Gowanus Yacht Club (232 LEED-Gold Brooklyn Charm Rogers Marvel Design
dangerous if thunderstorms get too
chefs Frank Falcinelli and Frank Smith Street, 718-246-1321) is an LEED-Gold Brooklyn Charm Rogers Marvel Design
close.
Castonovo, features cured meats, outdoor bar which is open during the
➜Streb (51 North 1str Street, 718- specialty thin-crusted sandwiches summer. Although don’t expect any
384-6491) is named after founder
and hand-made pastas. The boats (there are, however, kayakers
Elizabeth Streb, a choreographer that
philosophy of Frankies is to use in the region, despite the canal‘s
entwines dance, atheletics, boxing,
modern cooking, while working with polluted reputation). Cheap beer, hot
rodeo, the circus and stunt work. Affordably priced homes in Carroll Gardens
local food purveyors to maintain old- dogs and burgers make it a backyard EXCLUSIVE SALES
Affordably priced homes in Carroll Gardens
The Streb Lab for Actions Mechanics EXCLUSIVE SALES
& MARKETING: studios from $310K 2 bedrooms from $760K
school quality. for those without backyards. & MARKETING:
(SLAM) is a community space that The Corcoran Group is a licensed real estate broker. Owned and oper- studios from
1 bedrooms from $310K 2 bedrooms
$460K 3+ bedroomsfrom
from$760K
$1.3M
allows residents to learn a variety of
➜Union Market (754-756 Union ➜Brooklyn Boulders (575 Degraw, atedCorcoran
The by NRT LLC. The
Group is acomplete
licensedoffering terms
real estate are inOwned
broker. an Offering Plan
and oper- 1 bedrooms from $460K 3+ bedrooms from $1.3M
physical art forms.
Street, 718-230-5152) is a gourmet
neighborhood grocery store, with
347-834-9066) is a converted Daily
News warehouse with a variety hudsoninc.com
available
ated from
by NRT
LLC, 826 from
available
Sponsor.
LLC.
Broadway,
File No.CD08-0490.
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offering termsSponsor:
NY 10003. Equal
No.CD08-0490.
are in an Hudson
Housing
Sponsor:
Offering Third
Plan
Opportunity.
Hudson
LLC, 826 Broadway, New York, NY 10003. Equal Housing Opportunity.
Third
718.290.2490 thirdandbond.com
718.290.2490 thirdandbond.com
hudsoninc.com
Cobble Hill, local and organic food. The store of climbing surfaces, including a

developed by developed by
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terms are Broadway, New
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hudsoninc.com Properties LLC, 826 Broadway 11th Floor, New York, NY 10003.
;/@93B7<5( LLC, 826 Broadway, New York, NY 10003. Equal Housing Opportunity. hudsoninc.com
12 13

28-foot replica of the Brooklyn
Shopping on
Bridge. Geared for experienced and
Parkway, 718-638-5000) is one of the
RENT BROOKLYN
largest and oldest museums in the ...find youtopia.
country. Located in a distinct Beaux-
Arts building near Prospect Park, the
museum is one of the highlights of
the area. Current exhibits include Kiki
Smith: Sojourn, Healing the Wounds
of War: The Brooklyn Sanitary Fair
of 1864 and Body Parts: Ancient
Egyptian Fragments and Amulets.
On the first Saturday of each month,
the museum is free and hosts a party
with DJs and bands.
➜Brooklyn Botanical Gardens
(900 Washington Avenue, 718-623-
7200) was founded in 1910 and
displays an incredible variety of
fauna. Known in particular for its
annual cherry blossoms, the park
is a colorful addition to an already
vibrant neighborhood.
is the oldest performing arts center
➜Celebrate Brooklyn! (718-855-
7882) in Prospect Park hosts free
in America, founded in 1861. It has The Streb performance space.

Knickerbocker
novice climbers alike, it also hosts
Avenue in
screenings.
Bushwick.
North East Kingdom
Fort Greene, Clinton Hill
➜Luz Restaurant (177 Vanderbilt
Avenue, 718-246-4000) is authentic
Puerto Rican food with adventurous
dishes like raw tuna with coconut
milk and jalapeno, steak with arugula
and vinaigrette and tilapia filet with
lemon-infused brown rice.
➜Kush Cafe (17 Putnam Avenue,
718-230-3471) in Clinton Hill is
named after one of first civilizations
in Africa. It offers French Pan-African
cuisine, and includes a garden and
full bar. Chef Samuel Beket was born
in the Ivory Coast and is a veteran of
various French restaurants in the city.
➜Habana Outpost (757 Fulton
Street, 212-625-2001) is a Cuban-
DUMBO is flavored eatery. It also has a location
right next the in Nolita, and an upcoming one
the bridge in Malibu. Selections include an
and lower assortment of burritos, quesadillas,
manhattan. salads and sandwiches.
➜Madiba Restaurant (195 Dekalb
Avenue, 718-855-8610) offers a
South African experience, based
on the “Shebeen” dining halls of
South African townships. The menu
includes herb-crusted sea bass,
lobster tails with lemon butter and
coriander rack of lamb.
➜Brooklyn Academy of Music (30
Lafayette Avenue, 718-636-4100)
a film theater, free performances
at BAMcafé, and an in-house
restaurant and bar. Current events
include DanceAfrica and Alvin Ailey
American Dance Theater.
➜The Soul Summit Musical
Festival takes place in Fort
Greene Park (DeKalb Avenue and
Cumberland Street) from the second
Sunday in July to the last week of
August. The festival is free to the
public, showcasing DJs, bands,
dance companies, fashion designers,
filmmakers and photographers.
➜Ici (246 Dekalb Avenue, 718-789-
2778) is committed to locally grown
food and gets much of its produce
from a farm in Red Hook. The menu
features a number of egg dishes for
brunch, and a $26 three-course meal.
Prospect Park
➜Brooklyn Museum (200 Eastern
performances beginning on June
9th. The opening Gala features a free
performance by Norah Jones, and
later shows include the Roots, Sharon
638-4400) is more stately
Jones and the Dap Kings and the
National.
than your average indie rock
dive. The venue has a library,
➜Al Di La (248 5th Avenue, 718- two bocce courts and outdoor
636-8888) unfortunately doesn’t
take reservations, so it can be a
garden seating. The venue also
challenge getting a table. But those
serves a variety of comfort
food from “drunken Jamaican
who succeed can enjoy Venetian
cooking, like braised rabbit with
black olives, balsamic hanger steak
and malfatti.
wings” to “mucho macho
nachos.”
➜Southpaw (125 Fifth Ave,
718-230-0236) is a concert
➜Rawstar (687 Washington Ave,
718-975-0304) in Prospect Heights
venue that was converted from
a 99 cent discount store. The
features vegan Caribbean food.
venue hosts free DJ sets every
Ingredients are served raw or cooked
first and last Saturday of each
at very low temperatures, and exotic
month. A downstairs room also
dishes include tempeh, nuts, kale and
has a full bar and plasma TV.
pineapple. The space is tiny, but cozy,
and the staff is friendly.
➜Union Hall (702 Union Street, Bedford-Stuyvesant
➜Therapy Wine Bar (364
Lewis Ave, 11233) has an
assortment of wines, beers and
staples like burger sliders and
wings.
➜Peaches (393 Lewis
Avenue, 718-942-4162)
provides great ambience and
southern hospitality. The
spicy wings are particularly
renowned, and an assortment
of fish, ribs, sandwiches and
sides round out the menu.
➜Saraghina (435 Halsey
Street, 718-574-0010)
attempts to emulate childhood
with lovingly baked pizzas.
I.M. Rich
srbyug
Toppings include marinara,
margherita, ortolana and
prosciutto.
DUMBO
➜Brooklyn Bridge Park s
(718-802-0603) was
redeveloped in 2007. In
addition to views of the
East River and Manhattan’s
Gina’s View
Financial District, the
park hosts a Green Team Gina found youtopia in
of volunteers, free movie
screenings on Pier 1 and free
Brooklyn on the 23rd floor.
Pilates each Tuesday in July
Fitness Center s 24-hour Concierge
and August.
➜Brooklyn Ice Cream Resident Lounge s Billiards s Urban Park Plaza
Factory (1 Water Street, Garage & Valet Parking s10 Subway Lines
718-246-3963) is housed in
WiFi Access s Pet Friendly
a 1920s fireboat house on the
waterfront, with great views.
Classic flavors like chocolate,
vanilla, strawberry and coffee
make for a straightforward
dairy fix.
➜Halcyon (57 Pearl Street,
718-260-9299) is a vinyl
record store and artistic hub.
In addition to a wide selection
of vintage and new records,
the store has hand-screened
t-shirts, fashion accessories, art Rents Starting at $1,851*
and design books and prints. It
often hosts DJ sets and has ties
Call for Specials!
to various events throughout
866-991-5349
the city.

www.avalonyoutopia.com
14 15

* Rents subject to change.


The Developer
David Kramer is a Can you talk about the
buildings you’re currently
principal with Hudson involved with?
Companies, Inc., a firm Third + Bond is a LEED-Gold,
townhouse-style project in
that has developed Carroll Gardens. Cobble Hill
over 3,700 new units Tower is a condo conversion of
an existing landmark building.
of housing. Mr. Kramer The Knick is a historic rehab in
has developed the Bushwick, which is definitely an
up and coming neighborhood.
J Condominium in The units look absolutely great.
DUMBO, a 33-story They’re very affordable as far as
condo prices go. We’re bullish on
tower and one of the all three buildings.
tallest buildings in the
You’ve held onto some of the
area. He has three very condos you’ve developed and
different developments then rented them out. Why not
just sell them all?
opening in Brooklyn. If you have a successful condo
project, it’s great if it sells out. But
once it sells out, you have nothing
to do with that project. If we hold
back a few units, we have the
benefit of selling them later as
prices continue to go up. Because
16
COOL DOWN IN OUR INDOOR
SWIMMING POOL AT BKLYN GOLD -
THE HOTTEST RENTAL IN BROOKLYN
• Modern Lobby • Built-in iPod/MP3
Surround -Sound Systems
• 50 Ft. Indoor Pool
• In-Home Washer/Dryers
• Fitness Centers
• Gourmet Kitchens
• Landscaped Roofdeck
• Marble Baths
with Cabanas & BBQ Grill
• Subways Nearby
• 24-Hour Concierge
• No Fee
• Valet Services
• Resident’s Lounge STUDIOS FROM $1,679*
• Parking Garage 1 BEDROOMS FROM $2,068*
• Floor-to-Ceiling Windows 2 BEDROOMS FROM $2,873*
• Hardwood Flooring FLEX UNITS ALSO AVAILABLE
for buyers, one of the benefits
of buying a new development
is there’s a discount as the
developer tries to move all those
apartments at once.
What was Hudson’s approach
when the market was really
struggling?
We’ve been around for 24 years.
We’ve never been cowboys at
Hudson, as far as developing
something too risky. I think the
people who got in trouble in the
downturn were those who were
overextended. Had we tried to
finance our sites one year later,
we may not have had interest
from construction lenders.
Since we had closed on our
construction loans, we simply
went ahead. Now that we’re open
in the Spring of 2010, I think
the timing has worked out quite
well. We’re proud of the finished
products. If you walk through
Third + Bond, or visit The Knick,
*NET EFFECTIVE RATES. LIMITED TIME OFFER. SOME RESTRICTIONS MAY APPLY. LALEZARIAN
NOT TO BE COMBINED WITH OTHER OFFERS. EXPIRES 6/15/10. ARTIST’S RENDERINGS. PROPERTIES
 We hope that Bushwick @TQN[PeM_OMZbM_
continues to evolve. The prices
at The Knick are compelling
as far as what you can buy for
2M_TU[ZM_M^`
$300,000 to $400,000. Hudson’s
approach in general is to be
ahead of the curve. We were in

-YQ^UOMZ
the meatpacking district in the
’90s. We were in Dumbo in 2002.
We were in Bushwick in 2007.
We have a big project on the

4UST?`eXQ
Gowanus coming up in the next
few years.

Can you describe the

homeowners you work with in
Brooklyn?
There are different unit sizes in
each project so we see a variety
of age groups. We just had a
Third + Bond you’ll think they’re first-class the buildings, courtyards, views
21-year-old buy a studio from
jobs. Both Third + Bond and The and history are so unique.
green living in
Carroll Park. Knick are also LEED-Gold, and
us at Third + Bond. 80 percent
of our Third + Bond buyers live
developing environmentally
sustainable projects is not only
the right thing to do but also
helps differentiate your product
2-?45;:5:3-:-@5;:-8/;881/@5;:
The Knick is in a pretty
in an adjacent neighborhood
surprising location for a
to Carroll Gardens. They could
market rate development. Do
you see Bushwick as an up and
basically walk there. The -YQ^UOMÀ_Y[_`UO[ZUORM_TU[Z_MZP`TQ
in the market. coming neighborhood?
Brooklyn luxury housing market
is in a subsequent generation
What are you seeing now?
The market is much more active
2^QZOTPQ_USZ_`TM`UZRXaQZOQP`TQY
A lot of people want to buy in
of buyers, whereas if you did
Bushwick, not only because it’s
Brooklyn development 15 years
less expensive than Williamsburg,
than the depths of 2009. If you
look at Corcoran’s numbers in
2010, I think they did more deals
in the first quarter than all of last
year. I think every submarket is
different. When you have a lot of
product, such as Williamsburg
or Downtown Brooklyn,
that’s where you see the most
negotiating. In Carroll Gardens,
there’s no real inventory and you
don’t see many projects that look
like the modern adaptation of the
townhouse that we have at Third
+ Bond.”
but because they like it more than
Williamsburg. It’s less gentrified,
more artistic. A lot of people have
said Bushwick is the next
hotspot, from the New York Times
Magazine to New York magazine.
What are some of your
favorite things
in Brooklyn?
Favorite place to go:
New Brooklyn Bridge Park
ago, 80 percent of the buyers 9-E#»-A3A?@
would be Manhattanites looking
at Brooklyn to get a better bang
for the buck. In the last 15 years,
because the Brooklyn residential
market has developed and
grown, Brooklyn has its own
identity. A lot of people prefer
Brooklyn to Manhattan. Now you
have a critical mass of people
already renting and owning in
Brooklyn to pull from instead of
having 80 percent come from
Manhattan. In Bushwick, the
typical buyer for The Knick is
someone who’s already familiar
½@^QQ¾1bQZUZS0^Q__%!!
Favorite restaurant: the neighborhood. It’s not
What does a property need to /TM^XQ_6MYQ_-YQ^UOMZN[^Z.^U`MUZ%"%#$
Choice Market someone moving from Chelsea. >[_Q\UZW_UXW`MRRQ`M'cTU`Q_UXW_M`UZ'^QP\UZWMZPcTU`Q`aXXQ
have to sell? .^[[WXeZ9a_QaY/[_`aYQ/[XXQO`U[ZM`@TQ9Q`^[\[XU`MZ9a_QaY[R-^`
In this market, you have two
prerequisites to sell. You have to
be reasonably priced, and your
project can’t be too vanilla. In a
(318 Lafayette Ave, Brooklyn,
718 230-5214)
Favorite place to shop:
Layla (86 Hoyt Street, 718-
3UR`[R`TQ.^[[WXeZ9a_QaY%'3UR`[R9^_0[aSXM_2MU^NMZW_6^%$
What’s the general residential
outlook? Have things
recovered?
The market is improving. Even
strong market, you can have a
mediocre product and still sell it.
In this market, if it’s too mediocre,
you won’t sell. There’s more
competition, and people want
more bang for the buck. At Cobble
222-1933), Butter (389 Atlan-
tic Avenue, 718-260-9033)
Favorite juice bar: Nectar
(198 Court Street,718-855-6166)
Favorite activity: Biking all
over Brooklyn
the lending freeze has thawed. U_`TQ\^UZ`YQPUM_\[Z_[^ U_`TQ[ZXUZQYQPUM_\[Z_[^
Everyone was on the sidelines
a few months ago. Now they’re
saying, “I’m losing out on bidding
wars.” And we know this first-
hand since our weekend open
Hill Tower, for example, we’re #$"$!cccN^[[WXeZYa_QaY[^S
houses get very crowded.
getting a lot of interest because
CQPZQ_PMe»2^UPMeMY»!\Y'?M`a^PMe?aZPMeMY»"\Y1M_`Q^Z<M^WcMeMPVMOQZ``[`TQ.^[[WXeZ.[`MZUO3M^PQZ
?aNcMe&

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;Z?U`Q<M^WUZS
18 19
 Brooklyn market statistics
provided by Brooklyn market statistics
provided by

closing prices current market snapshot

The table below presents recorded sales data of condos, co-ops and
townhouses in Brooklyn and within the Williamsburg/Greenpoint, DUMBO,
Brooklyn Heights, BoCoCa (Boerum Hill, Cobble Hill, Carroll Gardens), Park
Slope, Downtown Brooklyn, Windsor Terrace, Kensington, Fort Greene and
Propsect Heights markets. Data is from March 2008, 2009, and 2010. Overall,
the volume of transactions this March have increased since March 2009
but have not yet returned to March 2008 levels. While median and average
prices continued to fall in areas like Park Slope, Downtown Brooklyn, Windsor
Terrace, Kensington, Fort Greene and Propsect Heights. However, areas like
Williamsburg/Greenpoint, BoCoCa and DUMBO witnessed median price gains
since March of last year
ALL BROOKLYN DOWNTOWN BROOKLYN
Closed On Closing Count Median Price Average Price
March 2008 968 544,881 590,225
March 2009 665 456,000 503,518
March 2010 839 477,000 526,412
Mar 2010 v. Mar 2009 26.2% 4.6% 4.5%
Mar 2010 v. Mar 2008 -13.3% -12.5% -10.8%
PARK SLOPE
Closed On Closing Count Median Price Average Price
March 2008 57 717,805 797,298
March 2009 19 625,000 819,755
March 2010 42 589,000 702,714
Mar 2010 v. Mar 2009 121.1% -5.8% -14.3%
Mar 2010 v. Mar 2008 -26.3% -17.9% -11.9%
Closed On Closing Count Median Price Average Price
March 2008 31 641,498 630,641
March 2009 12 742,500 739,464
March 2010 65 509,125 525,374
Mar 2010 v. Mar 2009 441.7% -31.4% -29.0%
Mar 2010 v. Mar 2008 109.7% -20.6% -16.7%
Below is a market snapshot as of May 3, 2010 of what is currently available for sale and rent.
sales
ALL BROOKLYN SNAPSHOT BoCoCa Kensington
Type #Listings Price (Boerum Hill, Cobble Hill, Carroll Gardens) Type #Listings Price
Studio 406 $339,000 Type #Listings Price Studio 7 $175,000
1 BR 1,953 $349,000 Studio 6 $367,000 1 BR 60 $242,000
2 BR 2,361 $499,000 1 BR 32 $525,000 2 BR 44 $349,000
3 BR 1,817 $549,000 2 BR 70 $747,000 3 BR 17 $499,000
4+ BR 2,825 $649,000 3 BR 23 $999,000 4+ BR 43 $824,900
4+ BR 39 $1,400,000
Williamsburg/Greenpoint Fort Greene
Type #Listings Price Park Slope Type #Listings Price
Studio 63 $465,000 Type #Listings Price 1 BR 44 $430,000
1 BR 320 $499,000 Studio 39 $375,000 2 BR 47 $635,000
2 BR 292 $709,500 1 BR 130 $493,500 3 BR 18 $875,000
3 BR 70 $1,297,500 2 BR 186 $699,000 4+ BR 5 $1,675,000
4+ BR 30 $869,000 3 BR 67 $999,000
4+ BR 44 $1,800,000 Prospect Heights
DUMBO Type #Listings Price
Type #Listings Price Downtown Brooklyn Studio 21 $340,000

WILLIAMSBURG/GREENPOINT WINDSOR TERRACE Studio

1 BR
5
29
$439,000
$640,000
Type
Studio
#Listings Price
41 $375,000
1 BR
2 BR
65
91
$429,000
$562,835
Closed On Closing Count Median Price Average Price Closed On Closing Count Median Price Average Price 2 BR 46 $1,157,125 1 BR 101 $515,000 3 BR 23 $895,000
3 BR 5 $3,300,000 2 BR 79 $835,000 4+ BR 17 $915,000
March 2008 76 634,878 692,301 March 2008 5 555,000 615,000 4+ BR 2 $1,037,000 3 BR 15 $1,249,000
March 2009 39 499,000 561,031 March 2009 6 519,500 581,885 4+ BR 15 $1,699,000

March 2010 56 553,927 575,080 March 2010 8 337,500 392,312

Brooklyn Heights
Price indicates median values.
Type #Listings Price Windsor Terrace
Mar 2010 v. Mar 2009 43.6% 11.0% 2.5% Mar 2010 v. Mar 2009 33.3% -35.0% -32.6% Studio 33 $325,000 Type #Listings Price
1 BR 107 $475,000 Studio 1 $280,000
Mar 2010 v. Mar 2008 -26.3% -12.8% -16.9% Mar 2010 v. Mar 2008 60.0% -39.2% -36.2% 2 BR 80 $839,000 1 BR 23 $345,000

3 BR 19 $1,960,000 2 BR 26 $577,000
4+ BR 23 $2,600,000 3 BR 11 $639,000
DUMBO KENSINGTON 4+ BR 13 $899,000
Closed On Closing Count Median Price Average Price Closed On Closing Count Median Price Average Price
March 2008 9 1,451,006 1,073,233 March 2008 20 342,500 418,842
March 2009 5 875,000 1,159,779 March 2009 16 400,900 404,175
March 2010 7 1,169,000 1,351,892 March 2010 12 320,000 372,056
rentals
Mar 2010 v. Mar 2009 40.0% 33.6% 16.6% Mar 2010 v. Mar 2009 -25.0% -20.2% -7.9%
Mar 2010 v. Mar 2008 -22.2% -19.4% 26.0% Mar 2010 v. Mar 2008 -40.0% -6.6% -11.2% ALL BROOKLYN SNAPSHOT BoCoCa Kensington
Type #Listings Price (Boerum Hill, Cobble Hill, Carroll Gardens) Type #Listings Price
Studio 277 $1,778 Type #Listings Price Studio 7 $1,200

BROOKLYN HEIGHTS FORT GREENE 1 BR

2 BR
601
565
$1,950
$2,300
Studio
1 BR
13
50
$1,800
$1,900
1 BR
2 BR
11
6
$1,750
$1,747
Closed On Closing Count Median Price Average Price Closed On Closing Count Median Price Average Price 3 BR 194 $2,625 2 BR 35 $2,600 3 BR 4 $2,050
4+ BR 50 $4,694 3 BR 11 $3,200 4+ BR 0 $0
March 2008 31 500,000 787,544 March 2008 18 638,828 679,370 4+ BR 5 $7,000
March 2009 12 675,000 1,231,233 March 2009 2 690,000 690,000 Williamsburg/Greenpoint Fort Greene
Type #Listings Price Park Slope Type #Listings Price
March 2010 27 555,000 784,920 March 2010 8 532,500 492,375 Studio 47 $2,500 Type #Listings Price Studio 7 $1,750
Mar 2010 v. Mar 2009 125.0% -17.8% -36.2% Mar 2010 v. Mar 2009 300.0% -22.8% -28.6% 1 BR 112 $2,395 Studio 21 $1,600 1 BR 20 $1,900
2 BR 124 $2,918 1 BR 56 $1,995 2 BR 16 $2,264
Mar 2010 v. Mar 2008 -12.9% 11.0% -0.3% Mar 2010 v. Mar 2008 -55.6% -16.6% -27.5% 3 BR 33 $4,000 2 BR 40 $2,475 3 BR 8 $2,800
4+ BR 9 $3,300 3 BR 24 $3,000 4+ BR 0 $0
4+ BR 8 $8,750
DUMBO Prospect Heights
BoCoCa (Boerum Hill, PROSPECT HEIGHTS Type #Listings Price Downtown Brooklyn Type #Listings Price
Studio 14 $2,750 Type #Listings Price Studio 6 $2,000
Cobble Hill, Carroll Gardens) Closed On Closing Count Median Price Average Price 1 BR 33 $2,800 Studio 31 $1,778 1 BR 27 $1,500
2 BR 21 $3,500 1 BR 46 $2,236 2 BR 39 $1,900
Closed On Closing Count Median Price Average Price March 2008 44 579,500 578,342
3 BR 5 $4,500 2 BR 24 $2,854 3 BR 12 $2,500
March 2008 14 762,117 1,089,119 March 2009 11 589,000 835,704 4+ BR 1 $37,500 3 BR 4 $5,125 4+ BR 2 $4,850
4+ BR 2 $4,938
March 2009 15 559,672 749,573 March 2010 19 506,061 602,416
Brooklyn Heights
Price indicates median values.
March 2010 23 967,337 1,151,772 Mar 2010 v. Mar 2009 72.7% -14.1% -27.9% Type #Listings Price Windsor Terrace
Mar 2010 v. Mar 2009 53.3% 72.8% 53.7% Mar 2010 v. Mar 2008 -56.8% -12.7% 4.2% Studio 42 $1,725 Type #Listings Price
1 BR 74 $2,345 Studio 10 $1,550
Mar 2010 v. Mar 2008 64.3% 26.9% 5.8% 2 BR 34 $3,600 1 BR 10 $1,800

3 BR 5 $6,700 2 BR 2 $1,700
4+ BR 1 $12,500 3 BR 0 $0
4+ BR 0 $0

20 21

The
Owner
Rob Sacher is the owner
of the Satellite Lounge,
an indie rock bar at 143
Havenmeyer Street in
Williamsburg. He was
previously the owner
of the Luna Lounge, a
music venue located at
the present home of the
new Knitting Factory.
Rob Sacher
(above) and
the Satellite
Lounge (inset).
The Satellite Lounge has been
open for about a year now.
How has the experience been?
Is it a different vibe from
running a live music venue?
Yes, Satellite Lounge is just a
regular neighborhood bar, but
the neighborhood is quite an
interesting place to live, work
and play. I would like to be back
working with unsigned bands
and promoting their shows,
I do miss that part of my life.
Need someone to invest in the
22
development of a club, would
take $200,000 more or less.
Are you involved in the day-
to-day operations at Knitting
Factory in Williamsburg, the
former site of Luna Lounge?
How do you think it compares
to the original Tribeca venue?
I am not involved with the
Knitting Factory. I sold my lease
to them in 2008. I like their new
location much better than their
old Tribeca spot. The sound is
much better, it’s just down the
block from Satellite Lounge and a
lot of cool bands are performing
there.
What’s your take on the health
of live music in New York? It
seems like it’s one of the few
growing parts of the music
industry with venues opening
all over. On the other hand,
real estate prices seem to keep
going up. Where do you see
things going, especially for
smaller independent venues?
I am generally unimpressed with
the venues that have opened
for unsigned bands. Almost all
of them require that the artists
perform in a basement. I find
that demeaning to the quality
and artistic integrity of the artists
who are worthy of performing
on a real stage. The New
York City government has no
understanding, nor any interest,
in doing anything to nurture
All Around the World
Seven Days a Week
MOVING SOLUTIONS
COMMERCIAL
RESIDENTIAL
indie rock artistic development
FINE ART
in New York City. It is truly short
sighted and quite disappointing,
considering the quality of talent
currently living here.
STORAGE
You grew up in Brooklyn -
1-888-236-3055
any particularly memorable
moments from your
childhood? How has the
212-787-9855
borough changed since then?
How did you first get involved
with the music industry?
Many, the assassination of John
718-292-6634
F. Kennedy, the moon landing,
the Mets winning in 1969, the
Yankees winning in 1977, Son of
Sam in 1977, seeing The Ramones
at CBGBs for the first time. I got
involved in the music industry
as a songwriter, then as a band
member and record producer,
ASK ABOUT OUR
and then as a club owner. It’s all MONTHLY PROMOTION!
in my book which I hope to have
www.tlc-moving.com
published later this year.
What are some of your
favorite restaurants, cultural
institutions and venues in
Brooklyn?
The old school restaurants I
grew up with that are still open,
Brennan and Carr, Juniors, Roll &
Roaster and some old Brooklyn
diners are still my favorites, but
I live in Williamsburg so I often
eat at Buffalo Cantina which is
just next door to Satellite Lounge.
Best venue in Brooklyn is The
Knitting Factory (it’s very close to
where I live).
 R E S T A U R A N T

THE SOUTH AFRICAN EXPERIENCE

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