We hate strip malls. Strip malls are the antithesis of New York City.
So when we heard the news that an ugly, gentrifying strip mall might spring up in Brooklyn Heights, we were pretty bummed.
According to the Brooklyn Daily Eagle, the clock is ticking down for the Whitman Owner Corporation, owners of 75 Henry's Street, who have to decide whether they'll accept a developer's offer to buy a strip of shops that sits on land the co-op owns.
Who's the developer trying to buy the property? That's none other than Anbau Enterprises, who recently increased its bid from $75 million to $130 million.
The strip of shops is 387,000-square-feet, and it runs from Henry Street to Cadman Plaza West.
So, we're guessing Anbau Enterprises really wants to buy the strip of shops, and turn it into an ugly hodgepodge of overpriced retail shops completely devoid of soul. Or worse. What could be worse?
Anbau wants to completely raze the low-rise shops that currently stand in the space, and build a 40-story luxury tower with ground-floor retail. Yep. More luxury towers.
Naturally, Whitman's shareholders are facing a tough dilemma. Obviously, money is great, but they're concerned about what another luxury tower will do to their neighborhood and their own property values.
The cash they'll get if they approve the offer will be sweet. The studio owners will get $120,000 each, the three-bedroom owners will get $260,000, and the Whitman townhouse owners would get even more.
The Whitman shareholders have to vote before noon on January 15th about whether the offer will be investigated further.
The way shareholders respond in this instance will set the precedent for how the board should respond to future offers. If the shareholders vote yes, board president Doug Wexler said it will enable the board to seek offers from other developers.
quincyrosefilms Crisp cold day in the BK studio... 31 with a feels like 22... #writerslife #write #writersofinstagram #BrooklynHeights #Brooklyn #NYC
Apparently the board had different perspectives on the sale.
"We'll be guided by the shareholders," said Whitman's legal counsel.
If the plan does go ahead, the Pineapple Walk site will lose the popular Park Plaza Diner, a pet store, a beauty parlor, a toy store, and 79 Green Apple Corp., which is commonly known as Peas n' Pickles grocery store.
We'll update you when we find out which side of the fence the Whitman Owner Corporation board landed on, but for now, we're hoping the shareholders vote this deal down. Crown Heights doesn't need whitewashing.
Check out the Feds Are Going to Start Tracking Secret Luxury Real Estate Buyers in NYC.[via Brooklyn Eagle] [Feature Image Courtesy Instagram]