Get Ready For The Condo-ification of Avenue A
Manhattan has become the most expensive place to live in the country. Brooklyn ranks second on that unfortunate list. The latter is getting so costly that people are moving back to the former in some weird migratory conundrum. A main force behind all of this has been condofication - a mainstay of the Bloomberg administration's housing policy. We don't know what else to say that could prepare you for their impending invasion.
josewolff via Compfight cc Condo-ification of the LES, par example.
In that battle, Avenue A stands as a thin red line between the real estate forces that have glossed up the East Village over the past decade or so and the rest of Alphabet City. And it's a line that is disappearing by the day; condos have popped up as far east as Avenue D with wealthier residents (yuppies, gentrifiers, whatever) pushing into the corners of the hip neighborhood.
And news last week confirmed what we're all scared to say out loud: it's only a matter of time before the entire East Village becomes an uninhabitable condo paradise (think: Williamsburg waterfront).
On Thursday, EV Grieve reported on the plans in place for Avenue A. Warning: they're a bit rough on the soul to read.
Do you know the vacant lot that belongs to Mary Help of Christians on 11th and A? The one that had the flea market every weekend up until a few weeks ago? Well, that spot is currently listed on real estate sites, advertising as a "140 unit market luxury rental building." That's 11,356 square feet on the ground floor to work with.
Ripco Real Estate
Oh, and that stretch of concrete between East 7th and East 6th on Avenue A, where a closed bodega now stands as a shelter for the homeless? It's also the former location of an old theater, (which really should renovate and reopen itself as the Nitehawk Cinema of the East Village but whatever). Well, there's a chance that the spot could be replaced with a condo overlooking Tompkins Square Park that could fit 40 units, give or take.
Still trying to preserve what's left of the East Village? Well, we are, too.