Bedford Avenue Building Leased in One Day

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Recession? What recession? The new 14-unit building at 320 Bedford Avenue (at South 2nd Street) went on the market at 11:00 a.m. on Sunday, July 19, and leased all of the “loft-inspired” apartments within 24 hours, according to the real estate marketing firm aptsandlofts.com. The apartments include studio, one-bedroom, and two-bedroom units, with rents from $1,800 to $3,300 per month, as well as nearly 6,000 square feet of retail space. So the big question is: is this a sign of better days to come or just a fluke? With only fourteen units, this could be either a statistical anomaly, a market indicator, or evidence of a savvy business plan. Only time will tell. But before anyone gets too excited, remember that the fact that this is a rental at all is a sign of a sickly market. GMAP

By jscheff |