The vote on the Brooklyn Marine Terminal is once again postponed.
This is the third time a key vote by a city-appointed 28-member task force has been delayed, amid pushback from elected officials and community groups.
The task force is voting on whether development plans for the 122-acre Brooklyn Marine Terminal, which runs from Cobble Hill to Red Hook, should move forward. From there, the project can embark on the environmental review and the general project plan process.
The details of those plans have changed a few times as the task force has put off the vote. Initial plans called for up to 12,000 units of housing, which was then changed to 7,700 apartments with 35 percent affordable. The latest plans call for 6,000 housing units, with 40 percent set aside for those earning, on average, 60 percent of the area median income.
The Economic Development Corporation indicated on Friday that the vote was postponed until July 17 or 18, at the request of task force leadership. Sen. Andrew Gounardes, who co-chairs the task force, said he asked the EDC for the delay because he learned that state officials plan to commit funds to the project, and the group wanted “to fully understand the implications of this funding and how it could shape the Terminal’s future.”
He also acknowledged the precarity of the project.
“I know there are some in the community who want the Task Force to stop engaging in this process and simply say ‘no.’ But I am deeply concerned about the implications of walking away and starting over,” Gounardes said in a statement. He said he and his staff have worked to improve the plan.
It is unclear how much state funds would be dedicated to the project.
Critics have accused the city and state of trying to rush the plan forward. Council member Alexa Avilés, another task force co-chair, and Brooklyn Borough President Antonio Reynoso have raised concerns about not maintaining the port for industrial and manufacturing use.
Additionally, the lessons of another Brooklyn megadevelopment, Pacific Park, loom large over the terminal. The state recently indicated that it would not fine developers there for breaking their commitment to build the remaining affordable housing at that project by the end of May. During a recent tour of the terminal, EDC head Andrew Kimball said a 20- to 25-member development corporation will enforce commitments made at the Brooklyn Marine Terminal. The board would also likely select more than one developer for the housing component (Pacific Park has been criticized for, among many things, repeatedly failing to spread the development risk).
Currently, roughly half the terminal area is dedicated to maritime-dependent uses. Under the plans, in addition to the housing as well as industrial and commercial uses, half of the site will include new electrified piers along with a new marginal pier for smaller and mid-sized ships.
What we’re thinking about: Former Gov. Andrew Cuomo will run as an independent in the general election, according to numerous reports. But will he actively campaign this summer? If he doesn’t campaign, why would he stay in the race? And how much would that draw votes away from Mayor Eric Adams? Send a note to kathryn@therealdeal.com.
A thing we’ve learned: I’ve been hearing from real estate folks that they are going to support Mayor Eric Adams now that former Gov. Andrew Cuomo lost the nomination. One affordable housing developer told me Thursday that Assembly member Zohran Mamdani won the election because he focused on affordability.
“He talked about affordability. The guy who talked about affordability won this election, and the guy who talks about affordability will win the general election,” the developer said.
When people are struggling, they don’t want the status quo, which is what Cuomo represented in the race, the developer said.
“I think people wanted crazy ideas,” he added.
Another real estate source was unimpressed by the prospect of Cuomo staying in the race as an independent, noting that the governor “hasn’t bothered to get on the phone and say sorry, explain how it went wrong, and what he is going to do different.”
“That ship has sailed,” the source said.
Elsewhere in New York…
— Two powerful unions that had endorsed Gov. Andrew Cuomo are now backing Zohran Mamdani. 32BJ SEIU and the Hotel Trades Council both endorsed Mamdani as he heads to the general election, Politico New York reports.
— The city’s budget includes $10 million for a pilot free childcare program for children ages two and younger for low-income families, Gothamist reports.
— The city budget deal, which was announced Friday evening, also includes $15 million in new funds for city libraries’ general operating expenses and $2 million to bring Sunday service to 10 branches, the New York Times reports.
Closing Time
Residential: The top residential deal recorded Friday was $9.5 million for a condominium unit at 50 West 66th Street. The Upper West Side unit is 3,200 square feet. The Corcoran Group’s Hilary Landis and Beth Benalloul have the listing.
Commercial: The top commercial deal recorded was $60 million for commercial spaces on Lafayette Avenue and Story Avenue in the Bronx. The space includes over 200,000 square feet of ground area across four separate lots.
New to the Market: The highest price for a residential property hitting the market was $14.3 million for a condo unit at 15 East 30th Street. The Madison House unit in NoMad is 3,400 square feet. Douglas Elliman has the listing.
Breaking Ground: The largest new building application filed was for a proposed 20,260-square-foot, six-story residential building at 2601 Sedgwick Avenue in the Bronx. Jakov Saric of Node Architecture, Engineering, Consulting is the applicant of record.
— Joseph Jungermann
