The East New York moment has arrived, at least, in terms of a hype for one massive development, and they're using the H Word. One broker promoting the a former Mitchell-Lama complex of rental buildings called Fairfield Towers that has been rechristened MeadowWood at Gateway says "It's like a Cinderella story for the entire area." There might be a Cinderella element to the pricing: units at MeadowWood are now going for $110,500 to $350,000, which is a small increase from when the development first hit the market with prices from $100,000 to $340,000. (They were the subject of a fun reader rant back in January.) There's more too, like branding East New York as the Next Harlem. To wit, per a quote in the Daily News: "People who can't afford to buy in Harlem are coming here. They don't want to miss out on what they missed out on 20 years ago there. Right now, this is the best deal in town." If anyone is tired of Brooklyn development website that feature places like Bedford Cheese, the Meadowood site is, uh, refreshing. It's got images of Olive Garden, Red Lobster and Staples. The neighborhood, in this case, includes a big shopping center across the street built by the Related Companies.
· Is East New York the New Harlem? [NYDN]
· Friday Reader Rant: About Those $100K Brooklyn Condos [Curbed]