BRONX W www.BXTimes.com EEKLY February 10, 2019 8
Hello Bronx, so long Brooklyn:
Why a developer is moving uptown
Interior rendering of Hello W. Courtesy of Hello Living
BY ALEX MITCHELL
Many say that the Bronx is
becoming the new Brooklyn,
from a real estate perspective
at least. That notion was confi
rmed by well-known Brooklyn
developer Eli Karp, who’s
been erecting some of downtown
Brooklyn’s most luxurious
condominiums since 2005.
Recently though, Karp and
his Hello Living development
fi rm have said goodbye Brooklyn
and Hello to the Bronx after
purchasing a parcel at 1049
Washington Avenue in Morrisania.
Called Hello W, the project
will bring an 104-unit condominium,
featuring 74,896
square feet of residential space,
48,364 square feet of community
facilities, and 27,065
square feet for retail space to
the corner property along East
165th Street.
“I like corner properties
and I like the Bronx,” Karp
said, explaining the rationale
behind his uptown move.
Each Hello W residence,
from studios to four bedrooms,
will feature triple-pane windows
and doors, stainless steel
appliances, and signature
fl oor-through units with front
and back terraces, which epitomize
what Hello Living called
‘indoor outdoor living.’
He also cited the neighborhood’s
rich transit options between
Melrose’s Metro North
station, the #2 and #5 IRT lines
as well as Bx6 and Bx15 buses
as positive selling points for
the property.
The developer said that
his interest in the Morrisania
property comes from its similarity
to Prospect Heights, be-
fore that area was proverbially
put on the map.
“It was once considered a
place that developers weren’t
going,” Karp said, mentioning
his intention is to “never
change, but only add to a neighborhood.”
That Hello W sentiment is
exhibited in what Karp called
“an effort to give people something
to own with no crazy
prices.”
As far as crazy prices go,
that was a major component
for the developer’s Bronx migration.
“I am defi nitely being
priced out of Brooklyn,” he
said.
City real estate is becoming
so astronomically expensive
that one would think it’s
actually ‘fake’ estate. It’s a
factor in why Karp intends to
slow down with condo developments
and switch to rental
properties.
Particularly in an area of
the Bronx that he, along with
many others, view as a hidden,
emerging gem.
“I see similarities in the
south Bronx waterfront from
Port Morris to Yankee Stadium
to areas like Dumbo
and Greenpoint in Brooklyn,”
Karp said.
As a matter of fact, he’s looking
into saying hello to a Harlem
River parcel as well.
For now though, Karp’s focus
is on Hello W and its anticipated
opening is in two and a half years.
“We’ll take it from there,” he
said.
For more information on
Karp’s entire housing portfolio,
visit https://www.helloliving.
com/
Rendering of Hello W’s front exterior. Courtesy of Hello Living
Back exterior rendering of Hello W. Courtesy of Hello Living
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