Latest posts by Tyler Banfield (see all)
- Questions to Ask Before Hiring a Buyers Agent in NYC - March 15, 2018
- A Checklist for New Renovations in NYC - January 4, 2018
- 3 Things Tourists Do That Drive New Yorkers Crazy - December 28, 2017
The World Trade Center Memorial building is not the only new skyscraper currently in the works. Nor is Bank of America’s plans to make its tower the tallest in New York City the only self-conscious building plan in the city.
Brooklyn, for instance, could see some major changes, as developers seek to build the proposed City Tech Tower. At possibly over a thousand feet, the tower would, well, tower above the rest of the buildings on the borough’s downtown Jay Street. The skyscraper would contain a mix of office, retail and residential space, as well as a number of rooms for the New York Technical College.
While some real estate industry figures believe the height of the tower will be closer to a more modest 700 feet, there is little doubt that the final height will far exceed the 512 foot Williamsburg Savings Bank
Tower. The building will contain about 600 apartments, all of them at market rate.
The City Tech Tower is not the only large building set to change the look of Brooklyn and the city in general. Plans have been made for a new building currently known simply as City Point. 900 apartments are expected to be built into this multi-use building, with plenty of room left over for office and retail space.
Both of these new projects are products of changes in Brooklyn zoning laws that occurred in 2004. The new rules created a twenty block zone in the downtown area that puts no height restriction whatsoever on new buildings.
These two towers join Frank Gehry’s Atlantic Yards project to give many analysts hope that Brooklyn will become a more thriving urban center during the course of the next decade.
Brooklyn isn’t the only part of the city facing major changes in its real estate, though. A Russian developer by the name of Vassily Anisimov purchased the office building on 250 West Street in 2006. Anisimov is converting the building into apartments, and with more than 300,000 square feet to play around with, this new residential building will surely change the makeup of the neighborhood.
Taken together, these buildings show that the still booming New York City real estate market is not only shaking off the woes that the rest of the country is currently facing, it is continuing to fundamentally
change and evolve, like only it knows how to do.