Real Estate Wire: Downtown Brooklyn is a Shining Example of Good Development; One of Greenwich’s Oldest Homes Could be Razed

• Vornado Realty Trust and Crown Acquisitions have just paid $700M for 24,700 square feet of retail space plus air rights at the St. Regis Hotel and a neighboring townhouse. Insiders suspect they’re looking to get in on booming retail sales which could lead to higher future rents.  [TRD]
• Michael Stern’s JDS Development Group, together with Largo Investments, bought a West Chelsea parcel near the High Line Park for $34.75 million. [TRD]
• There’s an 8-story hotel opening in Bushwick this Fall. [DNA Info]
• One of the oldest homes in Greenwich Village could be razed to make way for condos. The property at 121 Charles Street has been listed as a development site. [NYDN]
• The luxury rentals at 200 East 11th Street have just hit the market. You can expect to pay $3,900 for a studio, $5,800 for a one-bedroom, and $9,350 for a two-bedroom. [Curbed]
• Downtown Brooklyn is being touted as a shining of example of how careful planning and meaningful investment can revitalize and urban center.  [Crain’s]

The green roof planned for the BAM South Tower in Downtown Brooklyn (left); 121 Charles Street (right)