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PHOENIX FALL REAL ESTA TE/HOMEReal Estate Craze Goes Into High Gear With Car CondosA sign outside the building on Union Street signals the wave of the future in Park Slope. Artists have painted a mural to beautify the outside of the building. (Phoenix/Garrity Photos)BY TRACY GARRITYNo, you can%u2019t hang curtains, and you can%u2019t paper the walls, but for $29,000 you can buy a piece of New York nostalgia in Park Slope %u2014 a safe place to park your car.With the growing numbers of cars that accompany people on moves from Manhattan or Long Island, Harold Pronsky of Joseph Berman Realty has hit upon an idea that combines novelty with security, and offers New Yorkers what no other real estate firm does; a condo for the car.%u201cMost people do look at this as a novelty until they come here,%u201d says Pronsky of the garage on Union Street at Seventh Avenue. %u201c They realize that parking is a serious problem and is not going to get better. Buying a space or two guarantees them a place to park their car.%u201d Pronsky said that he opened the first condos in Park Slope nine years ago, so it was only natural that he should do for cars what he did for people.%u201cThere%u2019s really growth potential here,%u201d he says, adding that a similar program on Beacon Hill in Boston, Massachusetts, netted investors several times their original investment when they decided to sell the space. %u201cThey paid $7,500 for a space, and now that space goes for $105,000. That%u2019s a good investment.%u201dThe investment is only part of the lure of the garage condominium. The fact remains that as Park Slope is growing in population, the number of parkng spaces is plummeting %u2014 especially, says Pronsky, when the larger garages opt to turn their space into apartments or lofts. %u201cIt%u2019s never been easy to park here,%u201d says Pronsky. %u201cNow it is getting to be impossible.%u201dHe says more liberal alternate side of the street parking regulations means people just dump their cars for days at a time, making it difficult for those who use their cars often to compete for the space. %u201c People are also buying more than one car,%u201d he says. %u201cWhere are they going to park two cars?%u201dPark Slope and nearby downtown Brooklyn does have several lots that rent space to car owners, at rates comparable toHarold Pronsky, at his garage condominium, stands between two BMW%u2019s.(Garrity Photo)the $140-plus maintenance fee charged monthly at the Garage Condominium. Pronsky says people who chose renting over buying are %u201cshort-sighted.%u201d %u201cIt%u2019s a limited view,%u201d he says. %u201cThose lots could close, or convert. Here, you can own the space forever. And that means if you need your car every ten minutes, or hardly at all, the space is here waiting.%u201dThe garage also offers pick-up and delivery service where an attendant will bring your car to you, where you are, or drive you home at night. %u201cMany of the people who use the garage right now aren%u2019t within walking distance,%u201d he says. %u201cThey have the option of paying extra to have an attendant drive them home in their car, and then take the car back here. It%u2019s safe and more convenient.%u201dIn addition to offering a needed service in the downtown area, Pronsky says his condos have also served to clean up the neighborhood a bit. Bright murals are painted on the walls of the building, and the management company has commissioned work on the sidewalk and storefront. %u201cThis place was a wreck,%u201d he says. %u201cIt%u2019s taken a lot to fix it up, but we wanted something nice.%u201d Although the price is not cheap, Pronsky says it is not only luxury' car owners who have expressed an interest in the spaces. %u201cWe have people with all different types of cars,%u201d he says.In addition to the amenities offered to garage owners, Pronsky says the garage will also offer something to the neighborhood. Once the garage is full, an additional 145 parking spaces will be up for grabs in the area surrounding the Slope. Pronsky also hopes to continue to beautify the neighborhood by adding to the mural that is painted on and in the garage.With the condos not yet sold, Pronsky is already speculating on expanding the business to other sites. %u201cThis is really a necessity in New York City,%u201d he says. %u201cParking isn%u2019t going to get easier. It is going to get worse, as more people want cars. People move to Brooklyn and buy a house, just so they can have a car, and then they find they can%u2019t park it.%u201d Pronsky adds that when buying a house for $300,000 or more, the idea of tacking on an additional $29,000 isn%u2019t unrealistic. %u201c It%u2019s just part of the purchase price,%u201d he says.The six-story garage offers 145 spaces and a prospectus is available as they are for traditional condominiums. Pronsky says that a $12,000 down payment will reserve a space with a financing plan available through the company. Joseph Berman Realty is the exclusive selling agent for the spaces. For information, call 638-8888.Brokerage Firm Has Insite Into The FutureBY TRACY GARRITYWhile it is no secret that many commercial strips are becoming homogenized by professional storefronts and real estate offices, at least one developer is hoping to turn that trend back towards the Mom and Pop-type stores that typified Brooklyn for centuries. Insite, 404 Vanderbilt Ave., is coordinating the rental of 15 stores on Fulton Street between Flatbush and Cumberland Avenues and agents Allen Handelman and A1 Rivera are looking for a variety of seryice stores from dry cleaners to gourmet cheese shops.%u201cMost of the stores have been vacant for five years,%u201d says Rivera. %u201cSo we believe by fixing up the storefronts and renting them to a variety of stores, we can really help the neighborhood.%u201d Few neighborhoods have suffered the blight that Fulton Street has, and Rivera says the project will be %u201cquality all the way.%u201dRivera says the renovations have not been cheap, but his firm is dedicated to sticking strictly with the plans set forth by the Landmarks Preservation Commission. %u201cMost of these buildings are landmarks, which sometimes make it difficult to renovate them,%u201d says Rivera. %u201cI think we are doing our best to come up with the best possible package of stores.%u201dOne building %u2014 the former Ashland Furniture store %u2014 has generated a lot of interest. %u201cThere are five stores in that building,%u201d he says, %u201cand there wiu oe doctors%u2019 offices upstairs.%u201d Again, he says the goal of the plan is to provide a variety of services to the neighborhood.%u201cThis particular area has really had no variety in the types of stores available toINSITEpeattM&m ]4---------------------------------------------------------------------- f1 1 .iing ULiikI/ I'niuTMix %u00a9 7 / BW T1 |I , / Illl(31(5) FLATBUSH AVENUE$them,%u201d he says. %u201cWe really believe it is imp u iu u u tu m a n e a t u c u i c i c IS a S e le c t io n .%u201dRivera says that most of the storefronts are under different management, and Insite acts as the coordinating focus for the plan as a whole. %u201cWe%u2019re looking for quality tenants to match with the stores,%u201d he says.%u201cWe have space and we know it is good spate. 7,%u2019e just have to bring the tenants and the stores together.%u201d The plan got underway in late 1984 when some of the renovations began.%u201c We believe that this plan is going to turn Fulton Street, which is a disaster, into aOf Fulton St.nice neighborhood again. This is a totally different type of block than what the neighborhood has seen. We know that there is a great demand for these types of stores, and we want to supply the people with services that they need.%u201d Rivera%u2019s laundry list of potential tenants include an ice cream parlor, a home decorating center, a gourmet deli and a dry cleaner.Rivera says the Pratt Area Community Council (PACC) has been very helpful in launching the project, both with moral support and the aid of a study. %u201cThey did a buying power study,%u201d says Rivera. %u201cIt was very interesting to see that there was a demand and that we could meet it. The study was very helpful for us,%u201d he says.Alan Handelman, one of the driving forces behind the comprehensive package, says the plan is intended to stabilize the neighborhood, and the rents reflect that. %u201cWe%u2019re not quite as expensive as Seventh Avenue (in Park Slope),%u201d he says. %u201cBut we%u2019re more expensive than Myrtle Avenue.%u201d He adds they are looking for tenants to invest in the neighborhood.The project will receive a greater boost of stability in a few years when the Atlantic Terminal Plan breaks ground. The Flatbush Avenue stores are witlun walking distance of that commercial complex.Rents for the storefronts range from $1.50-2.00 sq. ft. per month, not a pittance to pay for space on Fulton Street. %u201cWe belive they arc moderate ronfc %u201d caveRivera, adding that a variety of storefront sizes are available.For information on the stores, contact Insite at 783-3313.September 11,1986, THE PHOENIX, Page 25