Greenpoint
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Culture on the Cheap
Quicklinks: 239 Banker Street Sold?
If Brownstoner and Curbed are to be believed, this is the case. Per the latter:
The latest development at perpetual Greenpoint headscratcher the Sweater Factory Lofts has us, if possible, even more puzzled. The building just changed hands for $9.1 million, according to a deed that hit public record this morning. The buyer is an LLC, so we don’t know anything about who has plans for this building or what those plans might be. But the building’s long and slightly sordid history means our mind is slightly boggled by that sale price.
Brownstoner notes that the LLC in question is “JL Take Two LLC” and goes on to add it is unclear whether or not the new owner is a developer. In regards to this a commenter on Curbed tenders an interesting analysis:
Read the court case Lebedowicz v Meserole Factory LLC. JL had a mezz loan on the property above the $8m first mortgage. Probably either just got foreclosure or deed in lieu. Mezz lender foreclosure would explain the low price on the deed. It wasnt an arms length sale.
This keeps getting more and more interesting folks…
UPDATE: Here’s some more analysis from someone “in the know”!
You no doubt saw that this sold – if you haven’t already, you’ll want to spend your morning on ACRIS: http://a836-acris.nyc.gov/Scripts/DocSearch.dll/BBLResult (block 2593, lot 1)
I don’t have time to get into too much detail, but the transactions there are interesting.
JL Take Two is owned by Jerry and Lucy Lebedowicz, and they bought the property for $9.1 million from Meserole Factory LLC (the only name I could find was Israel Perlmutter, but I’m not sure if he is associated with the seller). Jerry & Lucy appear to hold the mezzanine debt on the property, which $3.5 million and dates to November 2005.
Separate from the sale, there is a four-year lease from Jerry and Lucy to Northside Lofts, LLC (390 Berry Street, Joseph Brunner is the manager of the LLC). Northside Lofts seems to have an option to purchase, but I can’t see any details.
Separately, an entity named Lex Debt LLC has a four-year option to purchase the property from Jerry and Lucy. That option is for $9.679 million if it is exercised today, and there is an escalator clause of $22k per month for the first 36 months and $42.5k per month for the last 12 months. So if they wait until the end of the option period, the price goes up by $1.3 million. The only name I can find associated with Lex Debt LLC is Israel Worch (not sure the spelling of the last name, it was scrawled). The address for Lex is a PO box in 11230 zip code.
So – Jerry and Lucy of Flushing hold a big chunk of debt on the building, and now they own the building outright. But Northside Lofts is the tenant of the whole thing, and a third party has an option to buy the property, with incentives to buy sooner rather than later.
I think I have that all correct…
Curbed: Someone Just Bought Greenpoint’s Sweater Factory Lofts
Brownstoner: Greenpoint’s Sweater Factory Lofts on Banker St Sells
LAST GASP: Brown Water?
A pal of mine called the Professor writes at 9:03 p.m.:
Hi Heather
is your water over there running brown? Pinkish brown? It’s been nonstop here for the better part of an hour. Running it longer doesn’t make it better.
We called 311.
Talked to a few people on Eagle Street all reporting the same dark water. Somebody wondered if that dig on Nassau might be the cause.
Funny how this happens while the “Is Greenpoint Safe?” gathering is underway. And I heard they were having drink specials. I’d get something without brown liquor if was there.
Any questions? If anyone has the 411 on this rather unsavory development please share via comments or email at missheather (at) thatgreenpointblog (dot) com. Your identity will remain anonymous if you so desire. Thanks!
UPDATE, May 24, 2012: Lincoln Restler is presently taking this matter up with the DEP. In order for him to determine the scope of the problem, anyone who experienced brown water last night should contact Mr. Restler at: lincolnpr (at) gmail (dot) com.
UPDATE, May 24, 2012 12:00 p.m.: We have an answer!
From The North Brooklyn Community Group: Know Your (ESCOS) Rights
A person we’ll call “C” writes:
the IDT energy scammers are back. Hit my building twice in 2 months. my neighbors have got to stop letting anyone in the building who buzzes (another story) but they got mouthy when I refused to open the door & told them to get lost and not come back. put up the flier in the entrance way…
I was particularly upset because they knocked on the door and introduced themselves by name, and seemed offended when i asked them what they wanted from behind a locked door. His response was “we’re here about something on the back of your electric bill that you haven’t responded to” and that’s when I knew what was up. I said “not interested” and he started talking again and i said “I know it’s a scam, get lost.” I walked away from the door so I didn’t hear if there was a response. The gall of these hucksters.
While perhaps not the most exciting stuff to be found on this site do take a moment, gentle readers, to read the above flier* about third party energy providers. An ounce of education is worth a pound of sticker shock!
*Which comes courtesy of the awesome folks at Concerned Citizens of Greenwood Heights! Those of you who care to do so can download a print quality version of the flyer gracing this post by clicking here.
Now At Jerzy Popieluszko Square: No Vulgarians Allowed
Filed under: 11222, Class War, Culture War, Greenpoint, Greenpoint Brooklyn, Greenpoint Magic
During my peregrinations today I happened upon this rather noticeable* and clearly not Parks Department issue bit of signage at Jerzy Popieluszko Square. Having some working knowledge of Polish (Okay: I know “nie” means “no”. As for “walgaryzuj”, well, I have a very strong suspicion as to what that means!) I inferred this sign is prohibiting something. But what? To this end I inquired of a Polish friend of mine what gives. Without further ado, here it is:
Respect this place
Be civil
Do not litter
Do not drink (NOTE: no specific beverage is indicated)
Do not be vulgar
My interpreter went on to add that the Polish pressed into service is rather unusual. E.g.; this copy was probably drafted in English and translated into Polish (as opposed to using conventional, conversational Polish as spoken in Poland). In any case, mind your manners fellow Garden Spotters… (WARNING/CAVEAT: the following clip contains “language” so do not listen to it at work unless you want a visit from the H.R. Department.)
or else!
In the interest of fair and balanced reporting (and for my friends in Great Britain) you can (READ: should) watch Archie’s retort by clicking here.
*READ: hideous
Greenpoint Photo Du Jour: Garden Spot
Filed under: 11222, Criminal Activity, Greenpoint, Greenpoint Brooklyn, Greenpoint Magic
Take an epidemic of manhole access cover plundering, add a dash of benign neglect and a lot of rain and what do you get? An accidental garden, that’s what!
The Word On The Street, Part III: The Rules
Filed under: 11222, Greenpoint, Greenpoint Brooklyn, Greenpoint Magic, The Word On The Street
This lesson in P’s & Q’s hails from Huron Street— so mind your fucking manners already Garden Spotters!
From The New York Shitty Inbox: On The Subject Of Car Alarms
Filed under: 11222, Greenpoint, Greenpoint Brooklyn, Greenpoint Magic, Street Justice
One fact of Greenpoint life to which I have become acclimatized is the constant cacophony of car alarms. Such was the case last Friday night when I had the dubious pleasure of listening to one perform its duty for an entire hour. While certainly annoying, I and my neighbors have learned to ignore them. Given the original purpose of these devices (alerting the owner of said motor vehicle to theft as opposed simply annoying the piss out of people), I find this phenomenon rather amusing: in the time elapsed a properly motivated individual could have easily unburdened the automobile in question of its contents or take it outright. Such is the price one has to pay for urban living.
But what happens if, say, the alarm in question persisted with its dulcet crooning for twelve hours straight? Well, just this came to pass recently and the unfortunate neighbors of said automobile— despite calling 911 repeatedly— received no relief whatsoever. So they took matters into their own hands. You know how the adage goes:
The pen is mightier than the sword.
First, I present the polite approach. The choice of stationery is a nice, if subtle, touch.
Here a visual aide has been employed.
And moving forward a deterrent never hurts.
Special thanks goes out to Al who forwarded these missives to me. He writes:
Hey Miss Heather! Here are those car alarm photos we were talking about yesterday.. feel free to blog them. Pretty funny notes. This took place on Java between Manhattan and Franklin.
The Word On The Street: Take It There
Filed under: 11222, Greenpoint, Greenpoint Brooklyn, Greenpoint Magic, The Word On The Street
From Franklin Street.
Greenpoint Photo du Jour: Dupont Street
Filed under: 11222, Greenpoint, Greenpoint Brooklyn, Greenpoint Magic, Stuff That Makes Miss Heather Happy
Taken May 17, 2012.
NYS Flickr Pool
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