NEW YORK | Two Bridges | 5 Towers | 724 - 1013 FT

New York General Development
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This is the parent topic to the overall development of Two Brigdes.

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Per: CASES | New York's Green Amendment

MARTE ET AL. V. CITY OF NEW YORK
Date filed: October 21, 2022

Description: Action seeking to annul approvals for and enjoin construction on the Two Bridges Project in part on the ground that inadequate environmental review and a failure to mitigate adverse environmental impacts violate neighboring residents’ rights under the New York Environmental Right

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LOL. NIMBYs using environmental legislation to try and block environmentally responsible housing. Obvious takeaway - NIMBYs don’t care about the environment, about affordable housing, about their city, about the future, all they want is to keep their views from their rent-controlled apartments until they die.

NY judges have to start fining/sanctioning frivolous lawsuits.

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They want to build these towers in an area where nobody wants to live. The first tower has not done well at all.

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So you make it a place they would want to live in. That’s kinda the point. It’s the same argument with the Penn District “Nobody is gonna wanna set up there, they should clean up the area first”
Like wtf do you think they’re doing?

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These new developments are also rental buildings versus the completed tower being luxury condominium. The rental units will have a much easier time being leased up compared to those condo units. While the area has already seen massive amounts of change and interest in high-earner potential tenants, it was a large gamble to begin this series of development with such a high market building in its location. Should have paved the way with the rental units first.

To be fair though, the building is filling up even after its first few years were a bit slow.

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Right but they have gone to rentals as much as they are able to.
mcart if you had even visited here I would give your opinion more credence. All you have to do is walk around the area and see what I’m talking about. Far from subway and close to housing projects that are not great. People don’t move to an area as a charity project unless they see potential. This area is armpit central.

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All quite true. I think a developer can still build there - but must be prepared to sell at a significantly lower price than standard NYC ‘market rate’.

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Any updates here?

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I haven’t read anything.

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Probably more legal shenanigans under wraps. I don’t see any other reason why none of these proposals haven’t moved forward yet.

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The first building is not selling well at all.

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Yeah… it’s annoying. I really want these to rise.

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It’s in the middle of nowhere lol the subway is so far away.

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That’s about the size of it.