The Castle Braid Apartments at 114 Troutman. The revised plan calls for a café at the bottom left.
The real estate market is famously not for the weak of heart. But the light of heart are welcome: developer Mayer Schwartz, chatty, ebullient, sporting a permanent smile, met me on Sunday to talk about his huge new development at 114 Troutman. Originally slated to be the Troutman Gardens condominiums, plans changed once the market began to soften and they will now be 146 rentals.
Decades back, the huge site was home to the Castle Braid Company, which made clothing trims. Upon reading this bit of trivia in these pages, Mayer recognized the name: several main characters in the book A Tree Grows in Brooklyn worked there. As a nod to the history and culture of the borough, Mayer decided to name the building for the factory that once stood there.
The Castle Braid will be packed with amenities like a doorman, library/lounge area, recreation and meeting rooms, huge laundry center, and free wifi throughout. In the double-height lobby, plans call for a huge chalkboard wall that artists will be invited to change every so often, and even an indoor brick wall for street art.
|
The tentative plans for the courtyard are so over-the-top magnificent I can hardly describe it — lawns, trees, gardens, benches, water feature, dramatic glassed-in area with a fireplace, and more, all with a striking modern layout. The roof will likely have an area for sunbathing and a side yard may be reserved for residents’ dogs.
Inside, the units are well laid-out and spacious with wood floors, Italian kitchens, high end ceramic tile in the baths, and huge windows in every room. Each unit has a sliding door for a sort of “lean out” balcony. There are even laundry hookups for the more rooted renter.
Where will the several hundred residents of the Castle Braid (not to mention the hundreds of other units coming on line within one block very soon) go for coffee and food? Trudge all the way to Wyckoff or Morgantown until some entrepreneur gets the clue? Mayer’s got that covered, too — the space just to the right of Willy’s Market will be a café with a rear yard.
He’s also trying to get Zipcar to base some cars behind the building, where our illiberal and antiquated zoning rules forced him to provide over 70 parking spaces for tenants unlikely to have cars. Right now the closest base is by Woodhull Hospital — quite a schlep.
Rents are expected to start at $1550 for a one-bedroom, $2250 for a two-bedroom, and $2750 for a three-bedroom. There are a few apartments with large roof terraces, but one of them may already be taken. “When she saw how cool we were making this building, my wife said she wanted us to live here!” laughed Mayer.
Mayer says he wants helpful criticism and not praise, but so far I can’t think of anything to pick on. There is nothing as well-designed and attractive (looking at you, 358 Grove) in Bushwick, and though the prices seem steep, the product is up to par and anyone looking for something similar in Williamsburg will be paying $1000 more a month for far less amenities and access to transportation.
Occupancy is expected in February 2009. Then Troutman will really be hopping.
electricgreek December 12th, 2008 at 2:43 pm
How can anyone not love whats happening in bushwick . Little steep! but very nice
chillinoncentral December 12th, 2008 at 6:55 pm
The Castle Braid will positively impact the local quality of life and area property values by providing valuable economic support to the ‘Wick. We’ve longed for improvements, and Mr. Schwartz seems to have put his heart into accommodating us with significant additions. A toast to him, I say, for his efforts and to his good fortunes! =]
IC Student December 12th, 2008 at 8:06 pm
But then no one will be able to afford living there. Its a very nice building, but then a few years from now all the art (most at least) will be gone because itll become a place for the rich
Nathanael December 12th, 2008 at 9:17 pm
Am I the only one who thinks modern buildings like this are an eyesore? Keep Bushwick brick! A few more trees would be nice, though. I nearly shit my pants when I saw two freshly planted saplings at the foot of my stoop the other day.
Dresden December 12th, 2008 at 9:36 pm
If I were you, Mr. Schwartz, I’d be a little nervous. Next year is going to be rough. But a recession is a good time to make money, so maybe you’ll do okay.
Regardless, well done. Very clean design. The impact on the L train is a concern – has the city even begun to contemplate the crowds we’re going to have in five years?
chillinoncentral December 13th, 2008 at 9:28 am
I respectfully disagree, IC; the ‘Wick has so much affordable housing that will not come even close to being exhausted, at least not anytime soon. On the contrary, you actually get a big bang for the buck here and that’s not going to change, at least not anytime soon. Besides, I’m sure that the current asking prices will drop if the demand is not there. But, like all up and coming neighborhoods, we can certainly use the inclusion of some who have the money to spend in our area’s economy. As they spend, the demand will go up for goods and services that do not currently exist here. A bank, for example, can hardly be found in the immediate area because the demographics show we are cramped with households that have low median household incomes. An influx of about a hundred wealthier households would only be a drop in the bucket, but even that can help create more jobs. I’m not a social science major, but I believe it’s always been the wealthier that help stimulate the economy – I welcome them here enthusiastically.
I also like the idea of keeping Bushwick brick alive, Nathanael, but I can’t agree with this being an eyesore. There are so many “eyesore” examples in the area and this new development is far from that. On the contrary, the developer is apparently dedicated to providing sound quality-of-life, green-conscious improvements that will contrast residential bustling lives with the timeless needs for natural settings and surroundings that are comfortable and relaxing. No, I don’t see this as an eyesore; I see it as attractive and creative. Just like art.
mopar December 13th, 2008 at 11:29 am
It looks absolutely gorgeous. But the prices are without a doubt almost double the current going rate in Bushwick ($1200 for a one bedroom, $1600 for a three bedroom).
So that poses an interesting question: Will nice apartments draw a new group of people into the neighborhood?
The neighborhood in this area is changing very quickly. I’m concerned about all the old timers I see who are getting priced out, single people in their 50s or 60s who are paying $600 for a studio or $300 for a room and will have no place to go when the landlord happens to sell the building. I know of a few cases like this.
Queen of hearts December 13th, 2008 at 9:22 pm
I think this development is extremely cool!
Having zipcars nearby, cafe in the lobby, now that’s service.
Mr. Schwartz seems to have put in amazing artwork into this project which I think will really benefit the neighborhood.I commend the choice of the building’s name, “the castle braid”, which blends nostalgia with modernity.
Kudos to you, Mr. Schwartz!
vertigo December 14th, 2008 at 3:06 pm
MAYER SCHWARTZ! In many ways, he’s my hero. He was my first landlord in New York, and I lived in his building until I moved into one I bought here in Bushwick. I really liked the way he effected Williamsburg, when I first showed up. It still had a great part of the old neighborhood (and a lot of the old neighborhood that was there got rich and moved to the suburbs as a result, the rest would pull up a chair on the sidewalk and enjoy the street life), but it was so inspirational to the new element. Now so few people feel welcome there. There’s good development and bad development, and Mayer does the good kind. The bad followed him about 10 years later, and they are sitting empty in Williamsburg right now.
petebfd December 14th, 2008 at 3:43 pm
gag.
Snowflake December 14th, 2008 at 6:14 pm
How about bike parking?
I love the idea of a side yard dedicated to pets, that would definitely be a selling point for me.
Armstrong December 14th, 2008 at 7:30 pm
Yes, definitely and interesting development. As to a comment (#3) above:
Bushwick. will. not. become. a place. for. the. rich… ever!
miked December 14th, 2008 at 8:07 pm
Is the interior courtyard completely isolated from the street?
Guest December 15th, 2008 at 12:05 pm
This is great for the area and I love the cafe idea. What is the other new building on the block going to be? Any retail in that as well?
Kevin December 15th, 2008 at 12:21 pm
if this was built as a condominium, does this mean that it was built with high end finishes?
ricmac01 December 15th, 2008 at 3:40 pm
This idea of “neighborhood within a neighborhood” in Brooklyn was kind of pioneered by Mr. Schwartz’ Opera House Lofts, which are located only two blocks from a subway stop. Maybe for this project he should consider providing a subway shuttle ($75/mo extra?) so that people living here will never have to venture out into their real neighborhood!
And yes, I think that these nice apartments will draw a new group of people into the area, but not necessarily into the neighborhood, not that there’s anything wrong with that.
Jeremy Sapienza December 15th, 2008 at 5:49 pm
The prices are not that high. Crappy one-beds go for $1150 by the Wilson stop. Decent but still ugly and small one-beds in “cool” Bushwick are $1350. $1550 for something large, perfect, and beautiful with tons of amenities is NOT far of a stretch at all.
ricmac01 December 15th, 2008 at 6:32 pm
$1550 for a large one bedroom isn’t such a stretch for what looks/sounds like something pretty special. But $2250 for a two bedroom? Sounds like they’re going after the multi-roommate type renters such as the Opera House and therefore maybe creating another dorm-room living environment? Or maybe they’re going after those priced out of Manhattan or Williamsburg that simply don’t know any better?
And does anyone understand the math on this: Bushwick selling prices have dropped dramatically over the past two to three years but rents have held pretty steady it seems. Is this true and if so why? Is this a NYC phenomenon?
Jeremy Sapienza December 15th, 2008 at 9:27 pm
The same 2-bed in EAST Williamsburg would be at least $2800. So, maybe they DO know better.
Renters don’t automatically convert to buyers at a given price point — there are lifestyles to consider. 24-year-olds aren’t looking to buy an apartment in more circumstances, let alone deal with a house, but they’re the ones filling vacant Bushwick apartments.
Ingo Hart December 16th, 2008 at 12:20 am
Very nice. Looking forward to the cafe.
Mopar December 16th, 2008 at 12:45 am
A few landlords around the Dekalb and Jefferson stops are pushing rents upward very quicky, but most are not. I know of one building in which the old timers are paying $1200, people there a year $1600 and new arrivals $1900 for a 2.5 bedroom. Meanwhile, housing prices have dropped 40 percent since late 2006.
ricmac01 December 16th, 2008 at 11:31 am
I realize there are many reasons people rent rather than buy, especially those of us living in NYC. What I wonder about is this: a few years ago housing sell prices went up, up, up. At the same time, rents also increased rather quickly. But given housing prices have dropped 40% since 2006, rents have held steady or risen, right? All things being equal, shouldn’t rents fall?
I have a couple of theories as to why rents aren’t also falling but also realize that just because this is something that I wonder about it may be a snore for everyone else!
chillinoncentral December 16th, 2008 at 12:03 pm
I think that the prices of buying a property went up so high and so fast that the demand for house purchases had to go down because a higher percentage could no longer afford a new home. So, the demand for apartments grew quickly and, as a result of this imbalance, developers gained more confidence in building new dwellings and home fixing up activities. The owners are able to raise rents without risk of having more vacancies because renters have nowhere else to turn. An owner would be overwhelmed with prospective renters and, in fact, foolish to offer a quality new/renovated/maintained 3 or 4 bedroom apartment at the rates they went for just two years ago.
Sue Seiter December 16th, 2008 at 5:53 pm
I think the interior garden is a beautiful compliment to the starkness of the building. What a peaceful respite place for residents to regnerate! I love the Castle Braid name, a tribute to the rich history of the site.
Janee October 13th, 2009 at 11:38 am
You don’t think that this is going to help other people renting out places? This has been going on for some time. At least now people are getting the proper space for the pricing. Bushwick got expensive when the recession hit.
If you look around, for a couple hundred dollars less, you get a crappy apartment with no amenities. Why would you want to keep unlivable spaces around. Terrible sealing on the windows, faulty foundations, dangerous radiators. Some of the building need to be torn down. They’re rat infested and haven’t been taken care of.
Of course I think they’re expensive, everywhere in New York is, come on, even Bed-Stuy is getting ridiculous. And you can get shot there lol