Good day, Don. This is your first market brief - New York buildings like yours, what the big players are doing, and where the money and the technology are moving. Sources included, straight read. Here is No. 1.
Today, three picks: a special report and two in and near 11238
Where the money moved, and what I think it means
Special report - Flatbush collapse
After Flatbush: Who Pays When the City Cracks Down?
ReportedOn Nov. 11 a three-story building at 1321 Flatbush Ave. collapsed into an excavation next door. The city says eight people died, including two children, and 18 were hurt. The cause is under investigation. (The City Reporter; City Limits)
City saysDOB is inspecting about 160 sites tied to six entities linked to the dig site. The city has not published the list. (City Limits; AP)
Not foundIn the coverage reviewed through Nov. 14, no new collapse-specific requirement for existing buildings has been announced.
Bentley's read - judgment, not fact
No war on property owners on this record: the sweep follows firms with troubled records. Prediction: if inspections widen, owners with open hazardous violations or loose paperwork spend the most time and money. Watch whether the site list grows, DOB hiring and the engineering review.
Court guidanceIn an HP repair case, where a tenant asks Housing Court to order repairs, an owner served with the order must appear on the date in it. Defenses the court lists include proof the repairs were done (photos or receipts, plus the certificate of completion mailed to HPD). The improper-service defense fails if a building with 3 or more dwellings lacks a correct annual registration with HPD. HPD violation notices carry correct-by and certify-by dates.
Bentley's read - judgment, not fact
Proof is what these defenses run on. Keep dated photos, receipts and every HPD certification, and keep the building registration current.
General information, not legal advice. Full court detail at the links.
Prospect Heights rowhouses, July 2024 (neighborhood view, not a story property). Photo: Kidfly182, CC BY 4.0, resized.
$21M for one Prospect Heights corner
Closed566 Grand Ave / 836 Dean St: development site sold for about $21M, roughly 86,065 buildable SF, about $244 per buildable SF. Buyer: Haussmann Development. Reported October 28. It sits inside the Atlantic Avenue Mixed-Use Plan, approved May 2025 with a goal of 4,600 homes.
Bentley's read - judgment, not fact
One trade, one data point. Watch whether the next Atlantic Avenue sites price near $244 per buildable foot.
