Hell no, they won’t grow!
A developer is dangling a large sum of cash in front of a Brooklyn Heights co-op building, offering to buy part of its land so it can erect a 40-story tower there. But some long-time inhabitants say a new high-rise would overwhelm the neighborhood and ultimately devalue their own property, and they will not be blinded by the Benjamins.
“A lot of people are actually going to sustain financial losses,” said Miriam Louis, who has lived in the 33-story, 370-unit building at 75 Henry St. for 26 years. “The wool’s being pulled over our eyes.”
The unnamed developer has offered the co-op more than $75 million for a slice of land on Pineapple Walk near Cadman Plaza West, according to a letter the building’s board of directors recently sent residents. The owner of a studio unit stands to make at least $120,000 under the deal, while those who own three-bedrooms would rake in a minimum of $260,000, it claimed.
But Louis says she is not sold — the new tower would block residents’ views and ultimately depreciate her co-op shares, she said.
The developer wants to raze the commercial buildings along Pineapple Walk, which include the Park Plaza Restaurant — a neighborhood staple of 33 years — a pet store, toy store, and grocery store, and replace them with the soaring new residential tower and new retail on the ground floor.
The land is one of the few places in the highly desirable nabe that such high-rises are allowed, as most of Brooklyn Heights is a historic district with a height cap of around five stories.
Residents of Cadman Towers, a 44-year-old 31-story co-op building nearby, are also worried the new tower will be a burden on the largely low-rise ’hood, and are urging their neighbors to turn down the windfall for the good of the community.
“A 40-story tower will have a significant effect on the quality of life of Cadman Towers,” said Toba Potosky, president of Cadman Towers’ co-op board, at a meeting of residents from both buildings on Wednesday. “It will cast a huge shadow and will significantly increase the amount of people.”
But the owners of the threatened eatery, who still have 15 years left on their lease, say they’re not fazed and are optimistic residents will opt to keep the status quo.
“It’s something that we’re not even really concerned about at this point,” said Nick Likourentzos, who is the manager of the Park Plaza Restaurant and son of owner Peter Likourentzos. “A lot of customers who live in the building have said they plan to oppose it.”
Residents at 75 Henry St. have until Jan. 15 to decide whether they want to go forward with the deal. If they vote “no,” the offer will disappear. A “yes” vote means the co-op board will continue discussions with the developer.
One co-op resident wasted no time casting her vote, claiming that she had immediately tossed the offer for the good of Brooklyn Heights.
“For the record I voted no,” said Beth Eisgrau-Heller. “There is no amount of money I would accept that is worth ruining the neighborhood.”
Gumley-Haft Property Management, which runs 75 Henry St., declined to comment.
