Sheepshead Bay Has Brooklyn’s Cheapest Rents But Glassy Towers Are Heading Their Way
The new structures will definitely have an impact on the previously much lower skyline. Locals pine for the old days.
Dust off those TLC records and break out the Tommy Hilfiger gear because rents in the cheapest Brooklyn neighborhood, Sheepshead Bay is like being back in the ’90’s. In September the average rent in Kings County was $3,197, according to Jonathan Miller of Miller Samuel but in Sheepshead Bay it was $1,729. Ok, if you were paying that rent back in the ’90’s you were living somewhere pretty swanky. But if you want to fake it ’til you make it and claim some Brooklyn cool, you may want to consider an hour long commute to the Bay on the B or Q trains. It might make the whipping winter winds a worthwhile sacrifice.
Of course, there’s an upside to living there as well—a tight knit family orientated community and lazy summer waterfront walks. If you want to decompress from the fabulosity of trendier Brooklyn neighborhoods like Dumbo (where the average rent is a mighty $5,502), Clinton Hill and Park Slope but still be a Metrocard ride away, Sheepshead Bay could be calling your name.
If you’re single or a couple and saving for place to buy, the $2,000 or under you’ll pay for a one to three-bedroom rental makes it a steal compared to the rest of the borough.
Of course if it’s glitzy restaurants and bars you’re after, Sheepshead Bay may not be for you. “It’s still old Brooklyn,” 31-year-old lifelong resident Samantha Treibler told AM New York.
But Brooklyn being what it is, that may soon change.
“Because of the fact that they’re being priced out of other neighborhoods in the city and within the borough, [clients] are looking further south,” Erin Keane, a realtor with Kings and Queens Leasing, which has an office on Sheepshead Bay Road, told AM New York. “Clients are moving here for a better quality of life,” she added.
Old Brooklyn was definitely not in the mind of Muss Development and AvalonBay Communities’ who have proposed 331-foot, 30-story residential tower at 1501 Voorhies Avenue. A gleaming steel and glass structure it will be a radical change to the sleepy aesthetic of the neighborhood. The project, as reported in The Real Deal, has been designed by Perkins Eastman Architects and will house 232 units, both rentals and condos, within 260,000-square-feet of residential space. An additional 15,000 square feet will be used as commercial space. The site cost $16.2 million.
Erin Keane told Brick Underground: “Sheepshead Bay housing is mainly comprised of six and seven-story apartment buildings, low-rise brick row houses, as well as large individually-owned houses.” After Hurricane Sandy decimated much of the region, she sees the development and rebuilding as necessary to grow the area economically and attract diversity. Local newspaper Sheepshead Bites, however, described the development as “bonkers” citing concerns over parking, traffic, sewer and infrastructure.
NYYimby shows that several smaller development projects underway in the area:
Property owner Eddie Yair, doing business as an anonymous Brooklyn-based LLC, has filed applications for a seven-story, 16-unit mixed-use building at 2735 East 13th Street, located on the corner of Shore Parkway, likely to comprise rentals. Eran A. Birnbaum’s Brooklyn-based architecture firm is the architect of record.
Brooklyn-based TNE Buildings has filed applications for two three-story, two-unit residential buildings at 2416-2418 East 15th Street.
An anonymous Bayside-based LLC has filed applications for a six-story, 20-unit residential building at 2499 Ocean Avenue. Amenities are to include a recreation room, a 10-car garage, bike storage, laundry facilities, and private residential storage space. Maspeth-based Angelo Ng & Anthony Ng Architects Studio is the architect of record.
Times Square investment firm, Infinity Group are developing Fives stories of retail space at 1713 East 13th St, converting it from a garage. SoHo-based Zysovich Architects The project will call for 89,000 of commercial space, two blocks from the Kings Highway Q train stop.
Better enjoy those cheap rents while they last!
AGORAFYStefano Boeri, the architect mastermind behind the famous plant-covered skyscrapers, is now designing Forest Cities in Liuzhou, China. #ForestCity #China https://goo.gl/PsTUwv
AGORAFYAuction is the second scheduled in a month for a One57 unit and it could set a NYC foreclosure record. #BillionairesRow #Foreclosures https://goo.gl/NZ3zqD
AGORAFYOnce a couch-surfing website, Airbnb moves on to luxury properties, further disrupting hospitality industry. #Airbnb #Luxury https://goo.gl/7TpLk6