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Prospect Heights ready for its' (real estate) close-up

Prospect Heights is a feature in this month's Real Deal, replete with .pdf of several new developments. The source for a lot of the data in the article is Aguayo & Huebener, which is quickly becoming the de-facto real estate heavyweight in this neighborhood and neighboring Crown Heights.

They listed quite a few new developments, but incidentally, the list seems to be a bit outdated, as they mention the Merchant House Condos, the Ice House at 636 Pacific and 579 Washington. We were under the impression that the Merchant House had been sold out by Halstead, 636 Pacific was the Newswalk and 579 was already converted to condos.

The article notes that a lot of the lots in the area had been purchased a year to a year-and-a-half ago by developers and that there are a surplus of auto body shops that are waiting to be rezoned.

Other new developments of note:
  1. A latter phase of the Newswalk development with 20 to 30 units shortly
  2. 606 Bergen Street, to be marketed by Pyramid Properties (who also developed the Washington)
  3. 647 Washington
  4. 651 Washington

As you can see, big things are ahead for the area surrounding the Washington. This bodes well, as increased housing and a new supply of consumers should increase the viability of Washington Avenue as a strong retail-avenue, a la Vanderbilt Avenue.


At November 02, 2005 11:36 PM, Anonymous Anonymous said...

Sounds like a blighted neighborhood to me!


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