Throughout 2020, low mortgage rates and increased demand for housing resulted in a major market boom all across the United States, driving up property prices by more than 11.3 percent nationwide. As such, this seller-friendly atmosphere has motivated developers to take advantage of the low supply of inventory, diverting attention to expediting new construction to satisfy the market — and fast. Unfortunately, this rush-to-market has seen the quick tear-down of buildings and architecture integral to a neighborhood’s distinct vibe, saturating the market with new construction that doesn’t lend itself to an area’s original ethos. Unlike the others, experienced developer Jason Halpern has chosen to forgo the present-day construction dash of his peers, instead methodically forging his way off the beaten path by leaning into a unique signature niche: bringing an elevated and luxe twist to Brooklyn, New York’s historical housing.
Figures from New York City’s Citywide Performance Reporting have shown the American hub’s infrastructure upkeep has been on a major decline, with 50 percent of its intended areas of service on a current negative trajectory and leaving many historical properties owned by the city to be left in a state of disrepair. As much of the city’s 34,000 historically designated buildings and 141 historic districts sit in prime locations for developers to experience a return on investment, their subsequent state of repair encourages the large majority of developers to take the easy route: purchase, tear down and build anew.
The post-COVID citywide housing bubble has only amplified this issue to new heights, as developers looking to take advantage of high market demand and record sales — growing more than 436 percent for luxury homes valued over $10 million in 2021 alone — look to up their own personal supply and make a major profit. With this mass race to a quick turnaround time, the attention to detail and personal care needed to nurture an old property into a historically-focused luxury residence has been nearly completely abandoned, falling to the wayside in favor of the easier and still-lucrative new development — save for dedicated advocate of NYC’s historical housing, Halpern and his firm, JMH Development.
While the market’s saturation of blank-canvas projects only deepens with every passing day, Halpern’s JMH Development takes a novel approach in choosing to preserve the individual ethos of each of his buildings, thoughtfully planning the ways to enhance the facade’s classical attributes while simultaneously bringing it up to date for the 21st century buyer. Ventures like 70 Henry Street, one of Halpern’s forays in the buzzy Brooklyn Heights historic district, have kept intact the building’s red brick-laden face closely associated with the surrounding area, a feature likely to have been stripped and whitewashed by a less-preservational minded developer. Accompanied by top-of-the-line finishes and appliances throughout 70 Henry’s several floors of residences and penthouses, the inside’s modern twist stands in perfect juxtaposition to the updated old-school exterior and earned Halpern’s project unanimous approval from New York City’s Landmarks Preservation Commission.
“Having elements of both modernist and historic architecture is important,” said Halpern. “I like to incorporate the use of new and innovative technologies, but maintaining the history of each project is what makes them unique.”
In another Brooklyn venture, Halpern took his expertise to a row of townhouses located in the sought-after neighborhood of Cobble Hill. Incorporating a total of nine townhouses into the project, Halpern brought a major facelift to four of the set while constructing five new townhouses with the same vision in mind. Preserving the classic and historical Brooklyn brick exterior, the Townhouses of Cobble Hill blend in perfectly with its neighboring properties — through their meticulously curated interiors and architectural design set it a cut above the rest, resulting in all nine units selling out shortly after the project’s completion in 2015.
Halpern’s conservational mindset has maintained a presence throughout the entirety of his career, as one of his earlier projects, Brooklyn’s 184 Kent, earned the 2011 Building Brooklyn Award within the adaptive reuse category and an addition to the National Register of Historic Places. Having converted an old 1913 warehouse located on the Manhattan-facing waterfront of Williamsburg into a luxury residence, Halpern’s 184 Kent has cemented itself as one of the most recognizable buildings in the neighborhood, thanks to its thoughtfully updated look and the more than 17,000 feet of usable retail space the revamp has brought to the surrounding area.
While the world of development’s transition into rapid new construction began long before the pandemic, the present-day boom has set the stage for it to continue long after. Thanks to his unique methodology, Halpern’s deep-seated dedication to his preservationist approach has positioned the developer to continually stand out from the crowd, bringing his signature high-end construction married with historic integrity to projects nationwide.
