The New Coney Island - Brooklyn's Times Square by the Sea

Thursday, March 10, 2016

Brooklyn Daily - Sheepshead Bay rising: Tide of development washing over nabe

Excerpts -

Development is anything but sheepish in Sheepshead Bay.

The once-quaint marina town is shaping up to be the borough’s next development hot-spot, real estate watchers say. A 28-story condo is going up on Voorhies Avenue, and that’s just the bellwether for a building boom that could leave the old fishing village looking more like Downtown.

And don’t expect the boom to slow any time soon, one real estate pro said.

“There’s a lot of development in Sheepshead Bay,” said Nancy Pecoraro, a broker with Fillmore Real Estate. “Definitely more in recent years — tearing down old buildings. It’s definitely more of a city feel with all of the condominiums going up. And definitely a big change to the waterfront — Sheepshead Bay itself — and Brighton Beach.”

Developers submitted plans for 18 new offices or multi-family apartment buildings since March 7, 2015, according to city records. They applied for 17 such permits last year and just 13 in the same period the year before that.

No comments: