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CONDO in the SKY Brooklyn’S Tallest Building, 1 Block from Nets Arena Site, Could House Luxury Apartments

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CONDO in the SKY Brooklyn’S Tallest Building, 1 Block from Nets Arena Site, Could House Luxury Apartments SATURDAY • JUNE 12, 2004 Including Carroll Gardens-Cobble Hill Paper, Downtown News, DUMBO Paper and Fort Greene-Clinton Hill Paper Brooklyn’s REAL newspapers Published every Saturday by Brooklyn Paper Publications Inc, 55 Washington St, Suite 624, Brooklyn NY 11201. Phone 718-834-9350 • www.BrooklynPapers.com • © 2004 Brooklyn Paper Publications • 20 pages including GO BROOKLYN • Vol. 27, No. 23 BWN • Saturday, June 12, 2004 • FREE CONDO IN THE SKY Brooklyn’s tallest building, 1 block from Nets arena site, could house luxury apartments By Deborah Kolben foot vaulted ceilings, Plehn said it de- tas, famed for converting the industrial The Brooklyn Papers NOT JUST NETS pended on what the new owners buildings of the neighborhood be- planned to do with the building. tween the Manhattan and Brooklyn The Williamsburgh Savings Bank While it is still unclear what will bridges into luxury lofts, was also con- building, the tallest in Brooklyn, happen, many believe the building sidering a bid on the building, accord- noted for its gold dome and density could be converted into condos. ing to Jed Walentas, the developer’s of dental offices, is on the auction The real estate firm of Cushman & son and partner in their Two Trees block, and experts believe the build- Wakefield is handling the sale. Management firm. ing will be converted to luxury con- Real estate experts expect the building In the 1920s, the Williamsburgh dominium apartments. to sell for between $60 million to $90 Savings Bank, with its headquarters on Bids were due this week on the 31- million. Broadway and Driggs Avenue in story city landmark at the corner of A number of developers have ex- Williamsburg, began construction on Flatbush Avenue and Hanson Place — pressed interest in the property. the building at 1 Hanson Place. across the street from the Long Island Rumors circulated this week that real The skyscraper — with a four-faced Railroad Terminal and the new Atlantic estate mogul Bruce Ratner, who just clock, the largest in the world at the Terminal shopping mall and one block THE NEW BROOKLYN built the Atlantic Terminal mall across time it was built — was completed in away from the proposed Atantic Yards the street from the 512-foot Williams- 1929. Nets arena site. burgh Bank building and seeks to build The Williamsburg Savings Bank And there was no shortage of interest. ing said, Pamela Plehn, a spokes- a taller building as the gateway to his continued to operate out of the building Current owner HSBC — an interna- woman for HSBC. $2.5 billion Atlantic Yards project, has until it was acquired by Republic Na- tional bank with its headquarters in “It really no longer fits in with our his sights on the icon. tional Bank in the 1980s. London — took over the building in core strategy,” Plehn said. A spokesman for Ratner declined to With sweeping views of Brooklyn 1999 when it acquired Republic Na- Asked if HSBC would continue to comment on his interest in the pro- and Manhattan, the Neo-Romanesque- tional Bank. operate a branch office in the landmark perty. style limestone building once housed It uses about one-third of the build- ground-floor marble space with 63- DUMBO developer David Walen- See TALLEST on page 18 CB6 OK’s EXCLUSIVE Ikea plan By Deborah Kolben The Brooklyn Papers Like it or not, “Flarke” and “Hensvik” may soon become part of the Brooklyn lexicon. Swedish home furnishings giant Ikea received its first stamp of approval this week when Community Board 6 voted to approve the application for a 346,000-square-foot store along the Erie Basin in Red Hook. The board voted 34-4 with two abstentions in favor of the plan following a two-hour discussion at its monthly general meeting at the Park Slope YMCA on June 9. Three of the four board members who voted against the plan live in Red Hook, the fourth lives in neighboring Carroll Gardens. Several board members who initially opposed the plan said / Tom Callan / Tom Image by “dbox” they changed their minds following several Ikea presentations and a public hearing. But others held their ground, claiming the massive box store would snarl traffic and turn Red Hook and surrounding Watchtower rising neighborhoods into a “suburban strip mall.” The Brooklyn Papers has obtained the first images of the four towers planned by the “I’m tired of Manhattan turning Brooklyn into the new Papers The Brooklyn Watchtower Bible and Tract Society, the Jehovah’s Witnesses organization, for its vacant Paramus,” said board member Edith Stone who voted against The historic Williamsburgh Bank Building is up for sale. It could fetch $90 million, and will land along Jay Street. For the complete story and more images, see page 4. See IKEA OK’D on page 4 probably see its many dentist offices converted into luxury condominium apartments. Yassky, Bloomie talk parking Mayor, councilman near deal for local permits By Deborah Kolben Yassky to try and get things finalized,” said ing would be feasible,” said Department of PAGE 7 The Brooklyn Papers mayoral spokesman Chris Coffey, who con- Transportation spokesman Keith Kalb. firmed that the deal was in the works. He said Brooklyn Heights, Boerum Hill, Cobble Councilman David Yassky and Ma- questions of funding are still being worked Hill and Fort Greene would all be included yor Michael Bloomberg are close to a out. in the permit parking study, according to deal that could lead to residential park- The Downtown-Brooklyn Heights coun- Kalb. ing permits in Downtown Brooklyn and cilman said he was optimistic a deal would While cities across the country have Callan / Tom surrounding neighborhoods. soon be hashed out. launched similar programs to ease conges- Yassky is also trying to work out a deal to Last year, Yassky made a list of more than tion and keep commuter cars from parking secure funds to renovate the dismal Cadman a dozen traffic suggestions for the area, on residential streets, New York City has no Plaza Park as part of the agreement, which which he submitted to the city, including res- such program. would earn his vote in favor of the Down- idential parking permits. As for Cadman Plaza Park, Yassky sees a Papers The Brooklyn town Brooklyn Plan The mayor believes that “We’re looking at a significant increase in rehab of the largely dirt fields, bounded by rezoning plan is crucial to the city’s effort to traffic, and residents are going to be fighting Cadman Plaza East and West and Tillary and Los Lobos kick off keep and attract corporate office space. even more day to day for spaces outside their Prospect streets, as a solution to what he has Into the ‘Sunset’ [A council vote on the Downtown Brook- own homes,” said Evan Thies, a Yassky called a lack of open space in the Downtown At the Sunset Bayou fundraiser for the Brooklyn Bridge lyn Plan has been postponed until Monday. spokesman. Plan. Park Conservancy at Empire-Fulton Ferry State Park on Celebrate B’klyn See story on page 4.] “We’re in the process of initiating some Meanwhile, the permit parking plan got June 3, Borough President Marty Markowitz and Rep. Ny- “We’re still having conversations with sort of study to determine if residential park- See PARKING on page 18 dia Velazquez share a laugh. –––––––––––––––––––––––––––––––––––– Antique ESTATE PLANNING AND Car Show FREE ELDERLAW SEMINAR ––––––––––––––––––––––––––––––––––––FOR SENIORS Sun., June 13, 11am-2pm Presented By The Law Firm of Linda Faith Marshak Sunrise Senior Living at Mill Basin Wednesday, June 23 and Saturday, June 26 5905 Strickland Avenue • (718) 444-2600 Call today to reserve: (800) 395-5762 ©The Brooklyn Papers. Established 1978. Phone 718-834-9350. Celia Weintrob, Publisher (ext 104) • Neil Sloane, Editor (ext 119) • Lisa J. Curtis, GO Brooklyn Editor (ext 131) • Vince DiMiceli, Senior Editor (ext 125) • Ed Weintrob, President (ext 105) June 12, 2004 THE BROOKLYN PAPERS • WWW.BROOKLYNPAPERS.COM PSZ 3 78 PCT. BLOTTER “IRA Rollovers Can Help Manage Change” Contributed by: Chanie Schwartz, CFP® Rx shoplift Financial Advisor, Morgan Stanley ith employees changing jobs more fre- begin making withdrawals. In addition, any account Wquently than ever before, it’s rare to find earnings or gains will have the opportunity to grow on someone who has worked his or her entire life a tax-deferred basis. What’s more, most Rollover for the same company. If you’ve recently Accounts offer a variety of investment options- from changed jobs or retired, you should know that mutual funds to professionally-managed portfolios- nets meds and so are suitable for a wide range of investors. you may be facing some complicated tax rules By Deborah Kolben the vehicle told police the car, and potentially significant tax consequences. Find Out More The Brooklyn Papers valued at $1,500, also contained Funds received from an employer plan distribution will $600 in cash, a $2,100 stereo Managing Your Lump-sum Distribution likely represent a significant portion of your liquid Many employees, upon changing jobs or retiring, find A pack of young bandits financial assets. As a result, they deserve all the time system and an Apple iPod themselves eligible for a distribution from their with either some mature ail- and attention you can afford to give them. If you’d like portable digital music player. employer through a 401(k), qualified pension, profit ments or a keen sense of the more information on how to make the best financial On May 27, a 58-year-old sharing stock bonus plan, or 457 plan. Deciding on GRAND OPENING use of your distribution, please write in care of black market for over-the- man from Florida discovered how to make the best use of this money is not an easy Brooklyn Papers.
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