Promoting 550 Vanderbilt condos in "Downtown Brooklyn," that 421-a tax break, and some fawning Times coverage
Note that it's not exactly "company" for the Barclays Center if a condo opens nearly two blocks away. (See map further below.)
The First Condominium At Pacific Park(Emphases added)
Designed inside and out by celebrated architect COOKFOX, 550 Vanderbilt brings 278 exceptional condominium residences to the heart of Brooklyn. The holistic design of the building takes cues from the neighboring brownstones of Prospect Heights, while expansive windows maximize views and ensure light-filled living. From studios to four bedrooms, the carefully planned layouts are distinguished by luxurious finishes and modern details. Gracefully adjoining Pacific Park’s 8-acres of green space, 550 Vanderbilt will enjoy the unprecedented wealth of services, amenities, and conveniences of Brooklyn's newest neighborhood.
Designed inside and out by celebrated architect COOKFOX, residents will enjoy an elevated experience in urban living. Not only does a full amenities suite await you, including a lounge that opens to the outdoors, a library, 8th floor roof terrace, as well as resident storage and access to underground parking, but through your own lobby you will be connected to 8-acres of lush green space! 550 Vanderbilt will have a 421a tax abatement, a gym, an attended lobby and a live-in resident manager. In addition, you are surrounded by 5 historic neighborhoods, cultural landmarks, and a transportation hub ready to take you anywhere. 550 Vanderbilt is a condominium like no other, providing its residents with an extraordinary opportunity to connect with community and nature, all in the very heart of Brooklyn, New York City’s most exciting borough.This makes a big deal, especially for the cheaper units. Shouldn't this selling point make the news coverage, given that 421-a reform is a huge issue in Albany? Remember, Atlantic Yards got a special "carve-out" in 2007 to preserve 421-a benefits in buildings that contain no affordable housing.
From the Times
As I point out in my annotation of the Times article at Genius, which quotes only the developers and an architect, there's no mention of:
- marketing the condos in China
- the 421-a tax break
- the use of EB-5 funds
- the distorted renderings
- the deal to speed construction
- the affordability of the subsidized housing
- the impact of litigation on development progress
- the problems with the modular building at 461 Dean Street
- the claimed "public park"
- the way the condo would "bridge" Prospect Heights and Pacific Park
- the fact that the announced public school is not approved