Brooklyn’s Next Hot Rental Development Markets Are Its Overlooked Waterfronts
Mitch Korbey, Chair of Herrick's Land Use and Zoning Team spoke at Bisnow's June 2023 Brooklyn State of the Market event with Downtown Brooklyn Partnership's Regina Myer, NYCEDC's Sabrina Lippman, Bedford-Stuyvesant Restoration Corp.'s Blondell Pinnock and Ariel Property Advisors' Sean Kelly to discuss alternative development sites in the borough.
The article notes, "Residential developers — both for rental housing and condo properties — are increasingly interested in some of South Brooklyn’s waterfront neighborhoods, industry players said at the event. They are hopeful that New York City will furnish public space improvements in those areas via public-private partnerships akin to Brooklyn Bridge Park."
The article continues, "[M]ore transportation infrastructure work and public space development likely needs to happen before some of South Brooklyn’s waterfront neighborhoods generate the same appeal as places like DUMBO and Greenpoint, Mitch Korbey said."
Mitch continues, "We saw a great flourishing of activity during the pandemic, with Domino Park and other places being so very popular... We have this remarkable jewel of a waterfront, and yet, it's somewhat disconnected, and still industrial in pockets."
To read more about the event and key takeaways, click here. Access may require a subscription.