Posts tagged with "Brooklyn":

Placeholder Alt Text

Brooklyn’s Future Green wants to change the way we think about weeds

The Architectural League of New York’s Emerging Voices award and lecture series highlights individuals and firms with distinct design “voices”, singling out those with the potential to go on to even greater heights. 2018 saw two rounds of judging; first by a panel of past Emerging Voices winners, and a second to pick the winners. The first-round jury included Virginia San Fratello, Sebastian Schmaling, Wonne Ickx, Lola Sheppard, Marcelo Spina, Carlos Jimenez, and Marlon Blackwell, as well as members of the second-round jury, Sunil Bald, Lisa Gray, Stella Betts, Jing Liu, Paul Makovsky, Tom Phifer, Chris Reed, and Billie Tsien. AN profiled all of the emerging voices firms in our February print issue. Future Green founder David Seiter will deliver his lecture on March 1, 2018, at the SVA Theatre in Manhattan. For the Brooklyn, New York–based landscape architecture firm Future Green, “spontaneous urban plants” are part of a patchwork ecology that has the potential to transform our cities. Future Green’s work is another part of that ecology. David Seiter founded Future Green in 2008 because he felt disconnected from his work in more traditional offices, applying new landscapes onto a site when he wanted to “draw them out of the place itself.” Now grown to about 25 people, his office features a garden and 6,000-square-foot fabrication facility for prototyping new ideas and new ways of weaving contextual plantings into urban sites. A picturesque quality pervades Future Green designs, particularly architectural collaborations like the Atlantic Plumbing residences in Washington, D.C., with Morris Adjmi Architects, and 41 Bond Street in New York, with DDG. At Atlantic Plumbing, the 300-foot-long planted window boxes contribute to the building’s postindustrial character, while the plants climbing up from 41 Bond’s facade were inspired by a visit to the quarry that provided the building’s stone. Future Green will sometimes maintain these types of projects for years after their completion to learn how the plants respond and evolve. Nowadays, an outdoor venue on a former rubble-strewn industrial site in Queens, New York, takes an informal approach. Stepping into the 18,000-square-foot space almost feels like stepping into a friend’s backyard. It’s cultivated but not too cultivated, organized around three large earth mounds, shaded by a grid of honey locust trees that help remediate the soil, and planted throughout with weeds. “We were able to leave a lot of traditionally weed species on the site,” said Seiter, “and then we seeded in a lot of other species that are, I would say, on the edge of acceptable.” For now, Future Green is advocating for a new understanding of “native landscape” that isn’t driven by climate but by human-created conditions. The firm's largest project to date is Half Street, a mixed-use curbless street in D.C., located near the Washington Nationals stadium. On game days, the retail-lined street closes to automotive traffic and becomes a pedestrian plaza for 30,000 people. Future Green’s design draws from its context and the need for flexibility; it includes a paving pattern inspired by Pierre L’Enfant’s iconic plan for the city, large tree pits paired with bio-swales, and other “soft” infrastructural elements designed to manage both water runoff and pedestrian traffic while creating a distinct sense of place. Future Green’s design for Half Street reflects their belief that streets are “the foundation for good new urban space.” As Seiter said, “If we can actually design our streets and sidewalks to be more effective green spaces and more-actively designed spaces for the public realm, we can create a new garden city.”
Placeholder Alt Text

Renderings revealed for final tower in contentious Long Island College Hospital redevelopment

After a tumultuous history of protests, arrests and community pushback, the redevelopment of the Long Island College Hospital (LICH) campus in Cobble Hill, Brooklyn, into a luxury community is moving full steam ahead. Now named River Park, renderings for the development’s final tower, 5 River Park, have been revealed via New York YIMBY. Romines Architecture PLLC is designing the 91,000-square-foot tower. Split into two volumes, the 15-story tower will hold 30 condo units atop a lot-spanning ground floor lobby and parking area. As originally reported in 2016, owner Fortis Property Group had opted to build out the former LICH site as-of-right, forgoing a rezoning that would have required the company to build affordable housing in exchange for denser development. Now, as shown in the project’s master plan, Fortis has moved ahead with plans to build five new market-rate residential buildings throughout River Park, and retrofit the landmarked Polhemus Building and nearby townhouses into luxury housing. As part of the first phase, which is ongoing, the Polhemus Building, an 1897 Beaux Arts “hospital skyscraper” and part of the hospital there until its closing in 2008, is undergoing an exterior renovation and interior redesign by BKSK Architects and will eventually hold 17 condo units. The second phase is the most contentious part of the redevelopment, as the five planned towers will bring hundreds of high-priced units to the neighborhood. A different architecture firm has designed each, as Fortis wants River Park to be seen as a “new neighborhood” rather than a cluster of residences. Information on 3 and 4 River Park has yet to be released. FXCollaborative (formerly FXFowle) is designing the 15-story 1 River Park at 350 Hicks St., which will hold 48 apartments ranging from studios to penthouses. While no renderings have been released yet, the building will have an outdoor pool, gardens, and something called an “amenity pavilion.” Hill West Architects will be designing the tallest of the River Park towers, as 2 River Park, or 339 Hicks St., will top out at 440 feet tall. While the exact number of apartments included in the complex hasn’t been made public yet, a rooftop garden will be available for residents that will offer sweeping views across the East River into Manhattan. The design fully plays up the site’s proximity to the river, as Fortis notes it “is composed of a strong masonry tower acting as the 'mast,' supporting the 'sail,' a west-facing glass screen that curves like the headsail on a yacht.” Fortis has described the design of 5 River Park as contextual, stating that it uses “a palette of traditional materials common to Cobble Hill, including brick, limestone and elaborate metalwork.” The shorter half of the building will also be clad in traditional brick in contrast to the more modern, dark-grey concrete of the taller half behind it. Construction on 5 River Park is ongoing. It remains to be seen where a healthcare facility run by the NYU Langone Medical Center will be relocated to; the continuing operation of the center, with its freestanding emergency room, must be included by Fortis as part of a settlement reached with the city. Construction in the area is expected to finish in 2020.
Placeholder Alt Text

Morris Adjmi-designed tower revealed for Brooklyn’s Clinton Hill

Morris Adjmi Architects and developer Jeffrey Gershon's Hope Street Capital have presented plans for a 29-story apartment building in Clinton Hill, Brooklyn, to the Landmarks Preservation Commission (LPC) for permitting. The rise of the 312-foot-tall tower at 550 Clinton Avenue is contingent on the developer’s plan to consolidate the rest of the block into a single lot, and transfer the resultant air rights to 550 Clinton. 60,000 square feet of the 70,000 square feet required would come from the nearby Church of St. Luke and St. Matthew, a landmarked church in dire need of façade repairs. The air rights transfer hinges on LPC approval of the church’s renovation, spearheaded by Li/Saltzman Architects, and the commission kicked the project back for minor tweaks at Tuesday’s meeting. Adjmi’s tower would rise on top of a 52-foot-tall base that snakes around the lot to Atlantic Avenue and Vanderbilt. While the entire building would be clad in tan precast concrete throughout and feature windows with metal mullions, the LPC presentation indicates that the windows on the tower portion would be tripartite and span from the floor to the ceiling of the units within. Most distinctively, the tower would taper at the base and twist on the south side to meet the cantilevered upper portion. While 550 Clinton could only be built at 96,000 square feet as of right now, with the spot rezoning being requested and transfer of air rights, the final project could be as large as 238,000 square feet. 34,000 square feet would be for commercial use in the building’s base, while 202,000 square feet would be allocated for residential units. This would be allowed only through the application of Section 74-711 of the city Zoning Resolution, which allows concessions for height and bulk if a maintenance plan is set up for a landmark on the same lot. The LPC’s chagrin on the 9th resulted from questions over the materials that would be used for the façade repair of the church at 520 Clinton Avenue. Commissioner Michael Devonshire took aim at the developer’s use of composite materials to patch the front of the brownstone church instead of the original stone, noting such repairs typically last for only 25 years. Instead of voting on the residential development or restoration, the commission has asked Li/Saltzman Architects to address this issue and present at a later date. Adjmi’s design didn’t escape the meeting unscathed either, as critics called the tower project “severely stark” and inappropriate for a neighborhood where the buildings are typically brick or sandstone. The proposal comes amidst a development boom in the Downtown Brooklyn area, and 550 Clinton is only blocks away from the Pacific Park megaproject. The full presentation given to the LPC is available here.
Placeholder Alt Text

Brooklyn’s Jamaica Bay waterfront slated for huge state park

Like the generous soul in the "Twelve Days of Christmas," Governor Andrew Cuomo likes to bestow gifts—usually big-ticket public projects—on the people of New York right before his annual State of the State address. In his speech this week, the governor dropped news that a new 400-acre state park is coming to Jamaica Bay, Brooklyn. Today (the Twelfth Night!), the governor's office, in conjunction with federal and local agencies, released more details on the forthcoming waterside green space, which, after Freshkills, will be New York City's second huge park on a former garbage dump.

The planned park will sit atop the former Pennsylvania Avenue and Fountain Avenue landfills, which ceased operation in 1983. The sites, separated from each other by Hendrix Creek and from the rest of the neighborhood by the Shore and Belt parkways, is just a short jaunt from the Gateway Mall in East New York. Eleven years after the dumps closed, the land was given to the National Park Service as part of the Gateway National Recreation Area, an archipelago of open spaces in Brooklyn, Queens, Staten Island, and New Jersey. In 2009, the NYC Department of Environmental Protection completed a $235 million site remediation effort that prepared the land for other, non-garbage uses. Now, the newly-planted grasses and woodlands undergird coastal ecosystems and ease erosion along three and a half miles of shoreline. Plus, there are gorgeous views of New York Harbor and Jamaica Bay.

"This new state park will be a treasure in the heart of Brooklyn, offering hundreds of acres of beautiful parkland on the shores of Jamaica Bay," Governor Cuomo said, in a statement. "We are committed to ensuring every New Yorker can access the recreational, health and community benefits of open space, and this park will open new doors to wellness for New Yorkers who need it most."

New York State has inked preliminary deals with the National Park Service to plan the park's financial future and maintenance operations. Under the agreement, New York State Parks will develop and run the park in collaboration with the Department of the Interior, the National Park Service and the New York City Department of Environmental Protection. Phase one of the project is funded by $15 million in state money, part of which will go towards building biking and hiking trails, fishing spots, and kayaking infrastructure, as well as park vitals like restrooms, shading, and food stands. The first phase, open next year, will also include coastal highlands planted with native species. At 407 acres, the green space will be a little less than half the size of Central Park. The landfill park is in East New York, one of the target areas of Vital Brooklyn, Cuomo's $1.4 billion revitalization initiative focused on the central Brooklyn neighborhoods of BrownsvilleFlatbush, Crown Heights, Bedford-Stuyvesant and East New York.
Placeholder Alt Text

MTA to deck over a 4-acre stretch of Brooklyn rail with mixed-use development

Eager to combat a serious housing shortage in Brooklyn’s Borough Park neighborhood, State Senator Simcha Felder (D- Southern Brooklyn) announced Tuesday that the MTA would be opening a Request for Proposals (RFP) for developing a 3.8-acre stretch of rail bed that runs through the area. Decking over the site and building residences, similar to what’s happened in Hudson Yards and proposed for Sunnyside Yards, could bring thousands of units to an area of south Brooklyn that’s grown rapidly in recent years. The Long Island Railroad (LIRR) Bay Ridge Branch section cuts from 61st Street between Fort Hamilton Parkway, and 8th Avenue, and is seldom used apart from the freight trains that might pass through once or twice a day. Looking to create a long-term revenue stream from the site, the MTA released their RFP for developing the site’s airspace, at least 22 feet over the rail bed, on Thursday, available here. Calling for private developers to apply, the RFP demands that teams would not only be responsible for the architectural aspect of the residential buildings on the site, both market-rate and affordable, but also retail and office space as well as parking lots. Additionally, any scheme has to leave the rail track in place, and engineering solutions must be included for decking over a gap that ranges from 82 -feet wide in some places to 118 feet in others. This is no easy feat, especially as utilities must also be supplied to the site and would presumably run through the decking; it’s no wonder that the MTA is requiring the entire project to be privately financed. The cost of decking over the much larger, 180-acre Sunnyside Yards has been projected to cost up to $19 billion for similar reasons, though no cost estimates have been released for this stretch of the LIRR yet. The fight to build over this stretch of tracks has been going on for years, with local community groups only recently embracing the plan. Senator Felder stressed that any new construction would have to fit the character of the surrounding neighborhoods. “The vision is to create residential development that is consistent with the character of the neighborhood,” said Felder. “The location of this project presents a significant opportunity to create additional housing units on a gigantic parcel of land that covers a few city blocks.” Interested applicants have until April 27th, 2018, to submit a proposal.
Placeholder Alt Text

ODA reveals renderings for a doughnut-shaped Brooklyn hotel

New York-based ODA Architects and developer All Year Management have released renderings for their latest project in Brooklyn, a five-story, 100-key hotel already under construction in Crown Heights. Reminiscent of M.C. Escher’s Ascending and Descending, the hotel at 1550 Bedford Avenue will feature a looped, sloping roof that encircles a central courtyard at ground level. The most prominent feature of the 38,000-square-foot project, christened the Bedford Hotel, will likely be the ring of archways that completely wrap around the building’s base. In creating a porous entryway, ODA tried to encourage curious passerbys to enter and make use of the public plaza, as well as openly explore. Outside of the hotel portion of the building, a banquet hall, retail options, and restaurants will all be publicly accessible. A rooftop bar and several “floating gardens” are also planned for the cascading roof. While the hotel’s defining arches may seem out of place in a neighborhood filled mainly with brownstones, row houses, and historic brick apartment buildings, ODA has tried to nod towards the masonry-heavy vernacular of the surrounding area by cladding the building in dark stone. Inside, the suites are more in line with what might be expected of a trendy hotel, as lightly colored wood wraps the sinuous interiors of the seemingly smaller hotel rooms. ODA explained that this is to "hug residents and guests with curved edges that allude to the building’s bent shape." ODA is on a tear lately, and 1550 Bedford Avenue recalls their similarly shaped 10 Montieth Street project in Bushwick. Although the circuitous, tweaked roof is similar, the Bedford Hotel will hopefully prove more open to the rest of the neighborhood than its hulking predecessor. As CityRealty noted, this section of Brooklyn is lacking in hotel space, and the previously vacant plot that the hotel is rising on was only zoned for commercial development. Although permits for the project were initially filed in July of last year, construction has only recently begun. Owing to the area’s proximity to Prospect Park and several subway lines, the neighborhood has become a hotspot for development in recent years, and the Bedford Hotel will ultimately sit across the street from the controversial Bedford-Union Armory.
Placeholder Alt Text

2017 Best of Design Awards for Young Architects

2017 Best of Design Award for Young Architects: mcdowellespinosa architects Location: Charlottesville, Virginia and Brooklyn, New York
mcdowellespinosa architects focuses on transforming waste, excess, and ordinary materials into new spatial and material realities. The firm functions more like an artist atelier than a professional office, interfacing with everything it designs. From self-built shacks made from reclaimed agrarian structures to objects made with chewing gum or human hair—the methodology is very tactile, very hands-on, and very DIY. At the core of the firm’s philosophy is a celebration of authenticity through object transformation. "mcdowellespinosa show an inventiveness about space and tectonics that roots their practice firmly in the real, event when it seems implausible." —Matt Shaw, Senior Editor, The Architect's Newspaper (juror) Honorable Mention  Architect: Spiegel Aihara Workshop Location: San Francisco
The central premise of Spiegel Aihara Workshop (SAW) is the productive tension between architecture and landscape architecture, and the ways in which their respective materials respond different to time. SAW pursues this work collaboratively, through built projects, theoretical design speculations, trans-disciplinary research, and teaching. Honorable Mention  Architect: Hana Ishikawa Firm name: site design group Location: Chicago Trained as an architect, Hana Ishikawa serves as the design principal at an emerging landscape architecture and urban design practice in Chicago, leading the firm’s process with equal parts innovation and logic. Ishikawa’s design philosophy is rooted in contributing to the well-being of society. Notable projects range from affordable housing to rehabilitative open spaces.
Placeholder Alt Text

2017 Best of Design Awards for Unbuilt – Landscape

2017 Best of Design Award for Unbuilt – Infrastructure: Maker Park Architect: STUDIO V Architecture Location: Brooklyn, New York Maker Park proposes a vision to address Brooklyn’s disappearing industrial waterfront—reimagining what a public park for the 21st century should be. The design pays homage to Williamsburg’s legacy of manufacturing and culture of collaboration. Ten oil tanks are redesigned as community gardens, performance venues, and art installations. Each tank houses groves of trees, reflecting pools, vines, a theater, or an adventure playground. The restored inlet supports wildlife and boating, and a sloped lawn promotes performances while protecting from floods. “So many people would just see this industrial site as an eyesore—if they saw it at all. The designers found the beauty in it. Better still, their scheme helps others see that beauty. Preservation isn’t always about quaint neighborhoods and ornate cornices; it’s about former manufacturing sites and old oil tanks too. It’s all part of our shared heritage.” —Morris Adjmi, principal, Morris Adjmi Architects (juror) Landscape Architect: Ken Smith Workshop Cofounders of Maker Park: Stacey Anderson Zac Waldman Karen Zabarsky   Honorable Mention  Project: The Statue of Liberty Museum Architect: FXFOWLE Location: Liberty Island, New York The Statue of Liberty Museum is an extension of Liberty Park, which merges architecture with landscape. Monumental steps activate the large circular plaza by providing sitting, climbing, and viewing spaces for more than four million annual visitors. The 26,000-square-foot museum will include visitor services, a theater, and support spaces, and will feature Lady Liberty’s original torch. Honorable Mention Project: Pier 55 Architect: Mathews Nielsen Landscape Architects Location: New York  Within the cancelled Pier 55 project is a story that never received its due: the landscape. Elevations 40 to 60 feet above the water treat the visitor to views which encompass the grandeur of the river and focus the eye on the delicate plants at one’s feet. Microclimates mitigate winter winds, buffer highway noise, and allow sunlight to reach marine life. Structural, Civil, & MEP Engineering, Events: Arup Designer: Heatherwick Studio Executive Architect: Standard Architects
Placeholder Alt Text

MTA reveals comprehensive L train shutdown plan

Today the city and the MTA released a long-awaited plan to get riders to Manhattan during the L train shutdown. Among the many proposed transit tweaks, Manhattan's 14th Street will be transformed into a bus-only thoroughfare to keep rush hour running smoothy. In both boroughs, new bus routes and bike lanes will help ferry 225,000 daily would-be L train commuters to their destinations. The MTA is also beefing up service on L-adjacent lines, in part by opening up disused subway entrances in Brooklyn and running longer trains on the G line. There will also be new high-occupancy vehicle rules for those driving over the Williamsburg Bride, AMNY reported. The L train's Canarsie tunnel was badly damaged by flooding during Hurricane Sandy and has to be closed for 15 months so the MTA can perform extensive repairs. The closure, which will suspend Manhattan-to-Brooklyn service, is expected to commence in April 2019 and last through June 2020. During the shutdown, the L will run mostly normally though Brooklyn until it reaches Bedford Avenue, the final station before the tunnel. The MTA will increase service on the J, M and Z lines, and bus service along new routes will pick up riders at subway stations to carry them over the Williamsburg Bridge and through lower Manhattan. To carry an estimated 3,800 bus riders per peak hour, the lanes will be restricted to trucks and vehicles with three-plus passengers. The plan should alleviate residents' and business owners' fears over the effects of the shutdown. In Manhattan, a multilane crosstown busway on 14th Street between Third and Ninth avenues will supersede all regular traffic except local deliveries, while 13th Street will get a dedicated two-way cycling lane.
Placeholder Alt Text

Gowanus Canal superfund cleanup might derail historic district designation

As New York City’s federally mandated cleanup of the toxic Gowanus Canal continues to ramp up, efforts to install sewage tanks at the head of the canal could end up destroying several buildings that would help the neighborhood qualify for a national historic district designation. The decision to buy out three private parcels along the canal comes after local community pushback canceled the Department of Environmental Protection’s (DEP) initial plans to install the 8-million-gallon detention tank under the nearby Double D Pool and Thomas Greene Park. Instead, the DEP will now buy out the three parcels for a cost of up to $70 million. If the owners refuse to sell their land, the city will begin a lengthy eminent domain process to seize them. Apart from the monetary costs, leveling the existing buildings at 234 Butler Street, 242 Nevins Street and 270 Nevins St. for use as a staging area during the construction could damage the neighborhood’s standing in the eyes of the National Register of Historic Places. If local officials were to submit Gowanus’s low-lying, historically industrial waterfront for preservation, it’s likely that the construction of the tank would affect the area’s eligibility. The 100-year-old 234 Butler St. in particular stands out for its terra cotta and brick façade, with the Gowanus name emblazoned in brick on the building’s cornice. Residents of the Brooklyn neighborhood rallied to protect the former Gowanus Station upon learning that the EPA and DEP would be tearing it down. In a press release to the borough president, Linda Mariano of Friends and Residents of Greater Gowanus, said, "Its design and sculptural elements tie directly into the history of the Gowanus neighborhood's relationship with water. It can and should be saved." In a letter to the EPA, Olivia Brazee, Historic Site Restoration Coordinator with State Historic Preservation Office, wrote that “Its demolition would adversely affect both the building and the National Register eligible Gowanus Canal Historic District.” While an attempt was made to have the neighborhood officially realized as a state and national historic place in 2014, community intervention ultimately led to the plan being shelved. The DEP and EPA will need to come to an agreement on the location of the detention tank before the canal’s dredging finishes in 2027, but if installed, would reduce wastewater runoff into the canal by up to 91 percent.
Placeholder Alt Text

NYC approves controversial Bedford-Union Armory plan

Today the New York City Council voted to approve a controversial redevelopment plan for Brooklyn's Bedford-Union Armory. The plan, Bedford Courts, proposes revamping the vacant, city-owned armory with a 67,000-square-foot recreation hall, 330 rental apartments and 60 condominiums. The recreational facilities would include multi-purpose courts, a swimming pool, and an indoor turf field.The project still must be approved by the Mayor's Office before it can begin development. The project is designed by Marvel Architects, with Bedford Courts LLC and BFC Partners as the plan developers. CAMBA, a local non-profit, will manage the recreational facility and administer the initial affordable housing program. The New York City Economic Development Corporation (NYCEDC) will administer leases and provide project oversight. The New York City Housing Preservation and Development agency (NYCPHD) will serve as an advisor to NYCEDC and Bedford Courts on affordable housing and regulate the affordable housing program after construction, taking over CAMBA's responsibilities. Although 50 percent of the rental units and 20 percent of condos would be made affordable, the plan's opponents have argued it does not include nearly enough affordable housing, given rising rents and the potential for displacement as Crown Heights gentrifies. City Planning Commission member Michelle de la Uz told DNAinfo"Given that this is publicly owned land, the community has come to expect more." When the City Planning Commission greenlit the plan on Monday, de la Uz was the only Commission member to vote against it. Monday's decision was also met with public opposition, with protesters gathered outside and within City Hall. Two demonstrators were arrested at the meeting.
Placeholder Alt Text

Trump to reap millions from Brooklyn public housing development sale

Will the President of the United States make up to $14 million from the sale of the largest federally-subsidized public housing development in the country? This is an unfortunate question to pose in an era where affordable housing seems increasingly scarce. Starrett City, also known as Spring Creek Towers, is an extensive housing complex situated between the Brooklyn neighborhoods of East New York and Canarsie overlooking Jamaica Bay. This summer, it will be sold for an estimated $850 million, and President Donald J. Trump's family business collectively owns about 16% of the development, so they stand to profit a hefty sum. As The New York Times reported, Trump himself could reap up to $14 million from the sale. Now that Trump manages the federal agency involved in its sale – Ben Carson's Department of Housing and Urban Development – concerns about potential conflicts of interest have understandably bubbled up among both the public and Congress members. In early July, two congressional Democrats – Representative Elijah E. Cummings of Maryland and Representative Hakeem Jeffries of New York – requested extensive records from the Trump family regarding their organization's communications with the development's owners, banks, and federal officials after the 2017 election. The potential conflicts of interest raise larger concerns about the operation of HUD in general, with massive budget cuts perhaps leaving "the type of federal aid that flows to the owners of Starrett City mostly intact" while cutting off support for others, as the lawmakers wrote in a letter to Trump, Carson, and others on July 7. Starrett City is being bought by a partnership between a real estate firm, Brooksville Company, and a private equity firm, Rockpoint Group, with the official announcement released Wednesday. Both firms are restricted from rent gauging and potentially forcing out long-time residents by rent regulations effective for another twenty-two years, and both have expressed their intention to keep in line with the site's original purpose as affordable housing for low- to middle-income tenants. Donald Trump's father acquired up to a 20% stake in the development when its construction was handed over to a private real estate company in the early 1970s, and it has since functioned as a convenient tax shelter for the family. The sale is the end of a long and involved succession of failed deals, with the development's residents hoping for a fate different than those of comparable Manhattan complexes like Stuyvesant Town-Peter Cooper Village and Riverton Houses – i.e., bought up piecemeal and rented out at market value during the real estate boom of the early 2000s. What Trump's individual profit margins will look like is still a matter of speculation, however – and lawmakers retain a healthy skepticism while awaiting the more thorough background on the sale.