Jody Kriss talks about the trends about the building trends in lower Manhattan and in Brooklyn with Jackie Hart of Downtown Magazine. Check out thisexcerpt from hisinterview:The Real New York: Jody Kriss, East River Partners.
Other than that instance, how do you usually find properties to develop? Do you have people that come to you, or do you scout different neighborhoods looking for empty lots?Yes, most of the time, there are folks that know what were looking for, and what we do, we just sort of sit in the office and pick up our phone and occasionally it rings with something we want to do.Now as a developer, have you been noticing any sort of building trends within lower Manhattan? For example, larger buys, or more properties being used for luxury housing, more rentals, etc.?I think were seeing, from neighborhoods, like in downtown, youre seeing the East Village and the Lower East Side, which werent traditionally neighborhoods where you would see new construction of condos and tie-in rentals, and its really exploded. Neighborhoods have really sort of hit a inflection point, where they are absolutely ripe for development, and I think the people who didnt really consider living there five years ago, and certainly not 10 years ago, would be tickled pink to live there.What about in Brooklyn?In Brooklyn, our focus is in the brownstone neighborhoods: Park Slope, Fort Greene, Cobble Hill. We keep producing relatively small projects, boutique buildings that are on tree-lined, sort of quintessential brownstone blocks. Theres an insatiable appetite for that. You cant fill it, theres no way.Read more from his interview about Brooklyn property development here or you can check his website TheJodyKriss.com for more information.
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