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January 15, 2008

From $6 million to $120+ million: Newswalk and the evidence against stagnation

Atlantic Yards Report

Boymelgreen.jpg

How much has Brooklyn changed? On January 4, I pointed out a dramatic shift since the production of the documentary A Walk Around Brooklyn in 2000. The Empire State Development Corporation seems to think that the zone bordering the Metropolitan Transportation's Vanderbilt Yard would be stagnant absent the Atlantic Yards project, and state Supreme Court Justice Joan Madden didn't disagree.

The story of the luxury Newswalk building in Prospect Heights offers some useful context; in an interview taped 03/28/06 for Michael Stoler's CUNY-TV show BuildingNY, Shaya Boymelgreen, then partner in Leviev Boymelgreen, discussed how he paid $6 million for the former Daily News printing plant less than a decade earlier.

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Posted by lumi at January 15, 2008 5:29 AM