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Sheepshead Bay condo ripping out retail space to install forgotten parking garage.

A glassy 10-unit condominium in Sheepshead Bay that originally hit the market in November 2009 is now ripping out part of its ground-floor commercial space to install a parking garage, after the developers realized that the apartments weren't selling without it.

According to local blogger Sheepshead Bites, 1702 Avenue Z has had a rough marketing history already, after the Corcoran Group inexplicably ditched the property last spring, and a little-known brokerage called Dreamlife Realty took over the reins.

For the past year, Dreamlife has apparently been advertising on the side of the building that condos would come with indoor parking space, despite the fact that no such space actually existed. Now, construction crews have cut into the Avenue Z curb and torn out the newly-planted trees on the sidewalk to make way for a seven-car garage -- in a space that was once supposed to be part of a three-floor retail condo sale to a group of local doctors. The doctors' deal has since fallen through.

A construction worker at the scene told the blogger that the developer was having trouble selling units without parking, but as for what will happen to buyers with cars in the three units that won't get parking, or to visitors of the shrunken retail portion, that remains to be seen. [Sheepshead Bites]
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Publication:The Real Deal
Date:Jun 10, 2011
Words:217
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