Laundromat Becomes Fancy Apartments
A former laundromat in eastern Bed-Stuy has sold for $4.3 million — a sign that even the neighborhood's lower-income areas are beginning to gentrify, experts say.
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The Blue Wave Laundromat will make way for a six-story, 57-unit apartment building, according to city records. The site can take advantage of a specialproperty tax exemption program.
Despite its high price tag, the lot is located in one of the neighborhood's poorest areas, with an 11.8-percent unemployment rate and 17 percent of families living below the poverty line, according to the latest census data.
