Bed Stuy in the News This Week

The townhouse at 126 Hancock Street is on the market for $3 million. According to the Observer, it’s the result of a high-level, two-year renovation that “heralds something of a new era for the neighborhood, in which fewer and fewer townhouses will be sold as-is or with perfunctory makeovers.”

YIMBY has the rendering for a very glassy, 11-story residential building planned for Fulton Street and Franklin. There will be 189 units and ground-floor commercial space.

DNAinfo has another rendering for 946 Myrtle Avenue, off of Throop, at the former Key Foods site. It will be a seven-story, 132-unit apartment building that also comes with ground-floor commercial space.

Brownstoner has photos of anti-gentrification fliers that popped up in the neighborhood. Brownstoner says, “The fliers use racist imagery of watermelons and fried chicken, presumably to paint the investors who are buying up property in the neighborhood as racist. And they urge homeowners “Shut it down Bed Stuy by any means necessary.” Presumably that means not selling their homes to investors.”

Gothamist published an article that’s made the rounds this week, titled “The Brooklyn Real Estate Bubble Will Never Pop.” According to the article, there’s no end in site to these insane prices, with a restrictive sales market resulting in more pressure on rents. And here’s an interesting tidbit: “The expert, who asked to remain anonymous because his predictions were so pessimistic, pointed to Bushwick and Bedford-Stuyvesant, two neighborhoods that have traditionally been poor and lacking in amenities but have undergone rapid gentrification. There’s no rationale for paying top dollar to live in either of these neighborhoods, he said, unless you’re so desperate to live in Brooklyn that you don’t care how much it costs.”

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