"Developer order to pay 10.9 Million to Bed stuy Condo Owners,"
By JOE WALKER - New York Times

A Brooklyn developer who took advantage of a faculty-housing exemption to build oversized condominium buildings, then sold the units on the open market, will be barred from selling apartments in New York State, according to an agreement between the developer and the attorney general’s office.

Along with barring him from selling real estate securities, the settlement requires that the developer, Mendel Brach, pay $10.9 million to the residents of the 72-unit development to repair structural defects. (click for full story)

BED STUY ALIVE! ENDS WITH HISTORIC BROWNSTONER’S HOUSE TOUR
By Keith L. Forest
The Brownstoners of Bedford Stuyvesant, one of Brooklyn’s most active civic organizations, held its 31st annual House Tour and Bazaar Saturday, October 17. Themed “The Legacy Continues: Restore, Revitalize, Rejuvenate.” the Brownstoners once again showcased a collection of the community’s finest brownstone and limestone homes while making a declaration of the vibrant familial ambiance that has traditionally been rooted in Bed-Stuy

Prior to the kick off of the self guided house tour, attendees were able to participate in a Homeownership Workshop where they received professional advice and resourceful information on surviving the turbulent economy; weatherization; how to maintain their current home and buying smart. The annual Bed Stuy Bazaar was also in full swing offering a variety of arts and crafts while showcasing various neighborhood goods and services.

The highlight of the day was the house tour which historically draws thousands of visitors from all over providing the house enthusiasts a sneak peek into some of New York’s most lavishly restored brownstone and limestone homes. Each participant received a Tour Brochure which in addition to granting them access to the touring homes, also served as a reference tool that documents the unique story behind each home on tour. Attendees once again experience, first-hand, the luxury and sophistication embodied within Bedford Stuyvesant’s brownstone and limestone homes, many of which date back as far as the early 18th century. Participants had the opportunity to speak directly with homeowners to learn about restoration, landscaping, general maintenance and many more of the practicalities of owning a brownstone.

The mission of The Brownstoners of Bedford Stuyvesant, Inc, which has been operating for 30 years, is to faithfully serve this Brooklyn community. Dedicated not only to instilling pride in Bed-Stuy residents, this non-profit, volunteer, civic organization has performed a variety of community services which span from literacy programs to their annual Tax Lien Project. In fact, proceeds from the house tour will benefit the McDonald/Glee Memorial Scholarship Fund, which awards scholarships to college bound graduates of Boys and Girls High School. The Joan Maynard Scholarship is also benefited, which awards college bound graduates of the Historic Boys High School.

Keith L. Forest is a freelance publicist, writer and proud Bedford-Stuyvesant home owner who lives and works in the beloved community. His current blog space mybedstuy.blogspot.com seeks to celebrate the people and places that make up this great community while addressing issues such as gentrification, predatory lending and other ill norms that seek to exploit, discredit and harm the area and its people.

Brooklyn home values slide, sales up
Despite Slight Increase in Sales Bed Stuy Property Value Waivers
By Gary Buiso - Courier-Life Publications

Home values in Brooklyn continued to slide, but sales activity is showing signs of life, surging for the second consecutive quarter, according to a recent report.

The median sales price of all residential properties in the third quarter fell 6.7 percent to $476,000 from $510,000 last year during the same period last year, according to the report, issued by broker Prudential Douglas Elliman Real Estate and Miller Samuel Inc., a Manhattan-based appraiser. The number of sales declined 19.6 percent to 1,847 from 2,298 sales from the prior year’s quarter — but increased 29.3 percent from 1,428 units in the second quarter of the year.

“The jump in the number of sales from the prior quarter reflects a release of pent-up demand from an unusually low level of sales activity seen in the early part of the year that began with the Lehman bankruptcy tipping point on September 15, 2008,” said Jonathan Miller, president of Miller Samuel. “The Brooklyn ‘spring’ market was pushed forward and occurred over the summer as a result.With the increase in activity, listing inventory fell sharply but remains above typical levels.The increase in median sales price from the prior quarter caused by the increased level of sales is the first increase after seven consecutive quarterly declines,” he stated in the report.

There was a 1.7 percent dip in condo median sales price to $496,860 borough-wide compared to the same quarter last year, according to the report, released October 14. Compared to last year’s second quarter, condo sales tumbled 29.8 percent to 463 units — from 660 units in the same period last year, but 24.5 percent above the 372 units in the second quarter.
The median sales price of 1-3 family properties dropped 10.6 percent to $536,300. Sales declined 9.4 percent to 944 units, compared to last year. Still, this figure is up 31.8 percent from last quarter.

North Brooklyn, which includes Williamsburg and Greenpoint, saw a median sales price of $564,110, down 12.1 percent than the prior year quarter. Northwest Brooklyn, which includes neighborhoods such as Boerum Hill, Brooklyn Heights, Carroll Gardens, Red Hook, Park Slope, and Gowanus saw a 14.2 percent decline to $565,000. The number of sales dropped 19.6 percent to 415 units, but surged 69.4 percent above 245 units in the second quarter.
In the southern portion of the borough, sales slipped 4.2 percent to $445,479. Sales fell 14.4 percent to 1,060 units, up 25.3 percent above the 846 units in the prior quarter.

The eastern section of Brooklyn, which includes neighborhoods like Bedford Stuyvesant and East Brooklyn, saw home prices decline 3.5 percent, to $425,962. Sales fell 26.6 percent to 259 units, just 6.6 percent above the 243 units in the prior quarter.

Borough-wide co-op median sales price was up 1.1 percent, to $283,210, compared to last year at this time, while sales fell 26.5 percent, up 29.4 percent from the second quarter.
The median sales price of luxury properties, representing the highest 10 percent of all Brooklyn co-op, condo and 1-3 family home sales, was $1,210,000, down 13.7 percent, according to the report.

FIFTH ANNUAL BED-STUY ALIVE! WEEK RETURNS
Culturally Enriched Invitation to “Embrace Our Treasures”
By Keith L. Forest

Brooklyn NY (September 9, 2009) – The Bed-Stuy Alive! Collective is proud to present the 5th Annual Bed-Stuy Alive! Week, celebration scheduled to takes place Saturday, October 10 - Saturday, October 17th. The Collective includes: Bridge Street Development Corporation, Bedford-Stuyvesant Restoration Corporation, the Brownstoners of Bedford-Stuyvesant, Inc., Community Board 3, Bedford-Stuyvesant Artists’ Association, Project 17 Realty and Associates, and the Central Brooklyn Community Services Corporation. “We are pleased to be a part of this event, which will showcase our great businesses, restaurants, artists, and homes,” stated Rhonda Lewis, Executive Director of Bridge Street. Themed, “Embrace Our Treasures,” which reflects the history and growth of Bedford-Stuyvesant, Bed-Stuy Alive! Week is designed to promote economic development, neighborhood pride, tourism, our fine arts community, and the rich heritage of the people who live here.

Bed-Stuy Alive! Week begins Saturday, October 10, with an annual Gala Kick-off and street festival. This outdoor event, complete with an open vendors market, health fair, kid’s corner and awards program, takes place from 10:00 AM – 5:00 PM on Fulton Street between New York and Brooklyn Avenues. It will include a food court, health and wellness screenings; outdoor kid’s activities and games; and the First Bed-Stuy Healthy Heart Community Dance line. Hosted by Community Board 3 and the Brownstoners, this family friendly activity will add excitement and joy, as block associations, senior centers, and groups from all over collectively compete to create the longest Cha Cha Slide line in the City. There will also be various cultural performances from local schools and community organizations and a special live concert featuring some of Brooklyn’s hippest, hottest and funkiest bands. Sponsored by Restoration Rock, patrons can “Rock” to the pulsating sounds from a variety of established and emerging talent.

In addition, Bed-Stuy Alive! Week will also include the first annual Tohma Y. Faulkner Community Award. Named after Bed-Stuy Alive! Week founder this award presentation pays homage to Ms. Faulkner’s unswerving commitment, dedication and service to the people and places of her beloved Bedford- Stuyvesant neighborhood and is presented to individuals that truly embrace Ms. Faulkner’s profound commitment to “serve and not be served.” This year’s honorees include: Hardy “Joe” Long, President of the Fulton-Nostrand United Merchants’ Association; Peggy Alston, Program Director of Restoration’s Youth Arts Academy; Deon Davis Harris, owner of Everything Scratch Café; Catherine Arline, President of the 81st Precinct Council; Frederick Pena, member of the 79th Precinct Explorers; Leroy Darby, owner of Leroy’s Framing Shop, and Bernice Green and David Greaves, publishers of Our Time Press.

A healthy community is a happy community and Bed-Stuy Alive! Week encourages runners, joggers, and walkers of all ages to join them for Restoration Plaza’s annual 10K Run & Fun Walk. This healthy excursion, which takes place Sunday October 11, is for people of all fitness levels, travels along a scenic picturesque route through historic Brooklyn. Participants are encouraged to register on-line www.restorationplaza.org. For additional information, please call Restoration Plaza at: (718) 636-6972.

There is no need to travel outside the neighborhood for fine dining and unique shopping, when Bed-Stuy has everything you need within walking distance. In celebration of the 5th Annual Bed-Stuy Alive! Week, local merchants in association with Bridge Street Development Corporation; participating shops on Lewis Avenue; Tompkins Avenue and Malcolm X. Merchants’ Associations; are joining forces to offer the ultimate shopping and dining experiences while providing a variety of discounts and special offers. Visitors and neighbors will have a golden opportunity to pick up the latest fashion and gift items from numerous boutique an shops; taste a variety of mouth watering dishes and delectable treats from special eat-in and take-out menus. Patrons are encouraged to look for the Bed-Stuy Alive! Week posters which will be on display at participating venues.

In addition to the abundant shopping and entertainment opportunities, on Saturday, October 17th, the Bedford-Stuyvesant Artists’ Association (BeSAA) will host its 6th Annual Studio Strut. This festive community affair honors Bed-Stuy’s culturally rich artistic talent with an outdoor art exhibition at Junior High School 35, located at (number) MacDonough Street, on the corner of Lewis Avenue.

Bed-Stuy Alive! Week culminates with the Brownstoner’s 31st Annual House Tour of Bedford-Stuyvesant, which takes place, Saturday, October 17th. The theme for this year’s event is “The legacy Continues: Restore, Revitalize, Rejuvinate. ” The self guided tour will begin at 10:00 AM with a free homebuyers’ seminar at at Old Boys High School, (number) Marcy Avenue at Putnam Putnam Avenue. Tickets for the house tour are $15.00 (until October 15th), and $20.00 on the day of the tour. Proceeds benefit scholarships for graduates of Boys and Girls High School and the programs in the “Old Boys High School” building.

Bed-Stuy Alive! is funded by New York State Senator Velmanette Montgomery, New York State Assemblymember Annette Robinson, and New York City Councilmember Albert Vann. Sponsors include: Our Time Press, NYC Department of Parks and Recreation, and the Central Brooklyn Lions Club.