A new report by The Real Deal reveals that Wythe Ave., currently home to the Wythe Hotel, Brooklyn Bowl, two nightclubs, and various other bourgeois nightmares, will soon be inundated with expensive condos.
From the report:
Sparked by the area’s sweeping 2005 rezoning, the long-time middle-class manufacturing district traded its warehouses for glassy apartments and became the go-to neighborhood for post-college arrivals. First Bedford Avenue got a makeover, and then the waterfront. Now, the once-gritty Wythe Avenue is having its moment, with new rentals, hotels and restaurants popping up — and in a sign reminiscent of the Meatpacking District, black town cars line some blocks on weekend nights.
But the 20-block heart of Wythe Avenue — from the Williamsburg Bridge to the Greenpoint border — reveals that the transition hasn’t always been smooth. Some projects that stalled during the recession are still empty pits, even as others have resumed. “What’s happening is incredible,” said Andrew Barrocas, the CEO of brokerage MNS, which has two offices nearby. “Wythe is filling in the gaps.” Below is a look at some of the properties that are transforming the stretch.
So…the recession is over? Doesn’t seem that way to me, but hey, I’m just some idiot blogger, not a New York City real estate developer.
Now, you might be thinking that the influx of more Wall Street bro/part-time DJ/trust fund types (or whoever can afford to pay $2,600 a month for a studio) would be a bad thing. And you’d be right! But try to look on the bright side. At least with so much new housing opening up, they’ll be able to drunkenly stumble back and forth between their apartments and the shitty bars and clubs where they hang out without having to call for car service, which means you can drunkenly bike around with less risk of being hit by a black cab. Small victories.