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April 30, 2008
Rentals: 377 Franklin Avenue 90% Rented
We've been watching 377 Franklin Avenue rise since 2006, wondering for much of that time what would become of the boxy modern structure. Now we know. Turns out the developer opted for the rental path and, according the listing agent Rapid Realty, nine out of the ten units have rented. One bedrooms have gone for around $1,800 and two bedrooms for $2,600; there were some parking spaces on the ground floor that have rented for $200 a month as well. These prices sound about right to you?
377 Franklin Stalled No More [Brownstoner] GMAP
Development Watch: Stalled on Franklin [Brownstoner]
Franklin Avenue Rising: 377's Gone Yellow [Brownstoner]
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Comments
too far from any decent subway.
Posted by: guest at April 30, 2008 12:51 PM
a little too expensive $$$ for this part of bedstuy. in my opinion there aren't enough amenitities to justify $2600 for a two-bedroom, but to each his own.
Posted by: mahetia at April 30, 2008 12:53 PM
Before you negative people start bitchin
ITS THE MARKET!
If people pay it, that's what its worth
end of story.
Posted by: guest at April 30, 2008 12:59 PM
rapid realty sucks.
Posted by: armchairwarrior at April 30, 2008 1:04 PM
rapid sex sucks.
Posted by: Biff Champion at April 30, 2008 1:07 PM
im sure people would pay 500 bucks a month for these to.
Posted by: guest at April 30, 2008 1:15 PM
I don't think they are renting at that price. I think the rents are much lower. If you check Craigslist, you'll find many comps around 20-30% lower.
Posted by: guest at April 30, 2008 1:43 PM
i also agree that rapid realty sucks.
when i went looking for an apartment 18 months ago, i met with one of their brokers. He took me to see an apartment above a restaurant, where I expressed concerns about potential bug problems coming from living above a restaurant.
His response: "If I were you I would overlook the building's bug problems because this is such a great deal" (no, it wasnt)
He then tried to convince me that $1500 for a studio on 7th street between 2nd avenue and 3rd avenue was "a great deal for prime park slope!". Moron.
Posted by: guest at April 30, 2008 1:46 PM
I rented with rapid realty through a listing I found on craigslist. They're kinda dumb and unorganized but all in all not the worst.
The place is huge and cheap tho so I cant complain.
Posted by: guest at April 30, 2008 1:54 PM
Pluses for the property:
1) This is Clinton Hill
2) it's near Pratt
3) 1/3 mile walk to the subway (A train, Fulton Street) isn't so bad.
4) Hip stuff in Fort Greene isn't too far
5) It's new construction
Seems a bit high, but not so bad considering it looks like a nice place.
Posted by: Polemicist at April 30, 2008 1:58 PM
Has the Kodachrome building given up and gone rental yet?
Posted by: guest at April 30, 2008 2:09 PM
Are those balconies?! Heck yes I'd get a one bedroom there. How does Rapid Realty get all those exclusives?!
Posted by: KHuebbe at April 30, 2008 2:11 PM
polemicist this is bedstuy not clinton hills.
Posted by: guest at April 30, 2008 2:13 PM
Historic clinton hill ends at Classon i guess realtors and out of towners accept franklin.
I used to cop niks and dimes round the corner It astonishing to hear 2600 for rent.
12:59 its the market that is dictating almost $120 a barrel, does something other than profit motivate you?
Posted by: guest at April 30, 2008 2:13 PM
Historic clinton hill ends at Classon i guess realtors and out of towners accept franklin.
I use to cop niks and dimes round the corner It astonishing to hear 2600 for rent.
12:59 its the market that is dictating almost $120 a barrel, does something other than profit motivate you?
Posted by: guest at April 30, 2008 2:13 PM
Historic clinton hill ends at Classon i guess realtors and out of towners accept franklin.
I use to cop niks and dimes round the corner It is astonishing to hear 2600 for rent.
12:59 its the market that is dictating almost $120 a barrel, does something other than profit motivate you?
Posted by: guest at April 30, 2008 2:14 PM
1:46 -- Moron? or shark? I'm just saying. Maybe he was smarter than you think. If he can sell someone on a buggy unit they don't want, he's pretty smart.
The prices at 377 Franklin though have to be a joke. Is "new" that worth it? I find it hard to believe that anyone is paying that much money to live on that block of Franklin when they could get a floor of a brownstone a block away for that price. There's no sidewalk for half the block.
Posted by: amanda at April 30, 2008 2:19 PM
Folks, Classon is one block west of Franklin.
Borders are fluid - especially in this neck of the woods and with a neighborhood like Clinton Hill.
Posted by: Polemicist at April 30, 2008 2:24 PM
polemicist one block is everything when it comes to real estate .location, location, location.
Posted by: guest at April 30, 2008 2:29 PM
Borders are fluid? fine but when borders move and are manipulated to allow for better marketing and higher pricing it is deceptive. Fort greene, clinton hill and bed stuy are all distinctive,as you can tell this bugs me.
Posted by: guest at April 30, 2008 2:35 PM
Historic Clinton Hill ends on the west side of Grand. Regular Clinton Hill ends on the west side of Classon.
Real Estate Clinton Hill ends at Marcy, sometimes Tompkins.
Posted by: guest at April 30, 2008 2:52 PM
yes, brownstoners - new is so so worth it. reality check - people prefer clean spaces with nice new appliances and, horror, things like central air conditioning and laundry. shocking. not everyone creams in their pants to live in dark chopped up rooms with suffocating woodwook and gross college student style A/C units in their windows.
Posted by: guest at April 30, 2008 3:38 PM
overpriced for the area. a good walk to everything.
Posted by: guest at April 30, 2008 3:42 PM
...or a bad walk to everything probably more appropriately.
Posted by: Biff Champion at April 30, 2008 3:46 PM
it's not overpriced for the area. it's the clinton hill/pratt/williamsburg swell effect. biff champion probably lives in park slope and has never even been to westbed, as people are calling it. it's hot.
Posted by: guest at April 30, 2008 4:10 PM
4:10, you're way off: I live in Brooklyn Heights and have never been to westbed. But I didn't mean to diss the area and don't like when people do that - just was kidding around. I've heard great things about the area from many of my favorite posters here.
Posted by: Biff Champion at April 30, 2008 4:16 PM
4:10 WTF are you talking about? This is BEDTSUY and very overpriced.
Posted by: guest at April 30, 2008 4:20 PM
every mugger in the area is just going to hang out around this place.
Posted by: guest at April 30, 2008 4:31 PM
4:10 here-yes, it's (westbed) bed stuy, and a much sought after part of bed stuy given the close proximity to ch/fg/williamsburg/pratt. there's a great, vibrant scene unfolding in this area and i'll leave it at that-it's not overpriced-it's fairly priced.
Posted by: guest at April 30, 2008 4:33 PM
1) This is Clinton Hill
IT'S BED STUY, ACTUALLY
2) it's near Pratt
MEANINGLESS UNLESS YOU'RE A STUDENT, PROFESSOR OR ARTIST
3) 1/3 mile walk to the subway (A train, Fulton Street) isn't so bad.
IT'S BAD. WHO WANTS TO WALK 1/3 OF A MILE TO THE TRAIN?
4) Hip stuff in Fort Greene isn't too far
DEFINE "HIP STUFF"
5) It's new construction
WHICH IS MEANINGLESS IF THE PLACE IS POORLY BUILT. nOT SAYING IT IS, BUT JUST BEING 'NEW CONSTRUCTION' IS NOT NECESSARILY A POSITIVE.
Seems a bit high, but not so bad considering it looks like a nice place.
AGREE IT LOOKS NICE
Posted by: guest at April 30, 2008 4:59 PM
rapid realty? Your better off renting through a non-English speaking slum landlord then deal with them . One of the worst in BK.
Posted by: guest at April 30, 2008 5:11 PM
Franklin Ave. is a local stop--the C train, not the A. It's also pretty close to the Bedford end of the Bedford-Nostrand station on the G, or the Classon Ave. stop on the G.
Posted by: rf at April 30, 2008 5:41 PM
this place proves to me why it's better to buy.
rents are ASTRONOMICAL!!!
i'll pay to play, thank you very much.
2600 for BED STUY??
OH HELLZ TO THE NO!
Posted by: guest at April 30, 2008 5:58 PM
there is NOTHING around there. stupidly overpriced
Posted by: guest at April 30, 2008 6:26 PM
It's in Bed-Stuy; check out "Dekalb Lofts" Condo's. hear more condo loft's are being built on Dekalb Ave in Bed-Stuy!!!
Posted by: guest at April 30, 2008 6:32 PM
compare this to the 2 bed rooms at the building on the NE corner of vanderbilt and gates -- the owner of this franklin spot is making a killing.
the vanderbilt/gates 2 brs are renting for 2500 or 2600 on craigslist and a HIGHLY more desirable area than franklin..
Posted by: ltjbukem73 at April 30, 2008 8:06 PM
my gf and her roommate pay 1700 a month for a two bedroom that takes up an entire brownstone floor just around the block (greene and franklin).....
Posted by: guest at May 1, 2008 10:24 AM
"this place proves to me why it's better to buy."
Only if you are too lazy to look for a reasonable rent. They are out there. This isn't it.
Posted by: guest at May 1, 2008 1:15 PM
you know, its amazing how much the prices have gone up. unfortunately that's the way its going, more and more people are moving from manhattan, and brooklyn (esp. near pratt) places are getting more expensive. neighborhoods that, just a few years ago, would be shunned by "out-of-towners" are now seen as "up and coming," and "the next big thing". it's the market, and it's gentrification, and it's the way the cookie crumbles. i can't afford it, but a lot of people can.
but, hey, if i could swing it, i would in a heart beat. get outta my shitty old place with slanted floors and cracking ceilings and get into a nice new, modern place with a balcony? yes.
Posted by: guest at May 2, 2008 7:34 PM
Hey!!!!!If someone likes the neighborhood and apartment so be it.Bed-Stuy or Clinton Hill, so what!!
Posted by: smoove31861 at May 12, 2008 6:10 PM
dude, what's with the rapid realty bashing? i just finished working with them and the whole thing went really well. just because one person had a shitty experience (you don't think that every company in the world has had an unsatisfied customer from time to time?), that doesn't mean that someone else is "better off renting from a "non-English speaking slum landlord"! my landlord, who I got using rapid realty, is great, and so was their service. a little overly dramatic, i think.
Posted by: guest at May 14, 2008 6:52 PM
What you dont see in this picture is that the terraces (because most are beyond balcony. I'm talking 600sqft plus) are completely Decked with solid wood planks. The roof is completely decked as well and is for resident use. Not to mention there is another private deck if the roof is being used. The personal garages come with a water spout for car washing, climate control, private entrace to the building, and 80sqft of STORAGE! Video intercom is great security. There is an upcomming public space that might be used for gym equipment, or recreation of some kind. It is definately worth the cost. If you compare this apt to another "gentrified" neighborhood they would go for 4000 and up a month. Getting all this for 2000 a month is amazing. The cost is most definately down being that it is on the exact border of Clinton Hill and Bed-Stuy.
Posted by: guest at June 6, 2008 11:53 AM
My Cousin lives here at 377 in a 2 bedroom apt. and I must say yes the building is pretty descent and if you have good taste your place can look really nice...does it worth $2600? on the long run not in my opinion and on hers management is bad + they told her there was going to built a gym and it was never happening.
Anyway I been living in this area of the Stuy for past 6 years now.
I've seen it gone from, cabies saying I don't go to BedStuy days to I have a Japanese spa and restaurant down the block days.
If you have the dow to shell out $2600 a month not including your additional living expenses, I'll suggest be smart take advantage of the market and invest into a property that you can call your own, it might take you a lil' longer to achieve but in the end you'll be spending far less and you'll be much more satisfied ...don't just go with the hype of moment..but then again worth is in the eye of the beholder and the I don't now better.
Posted by: guest at June 6, 2008 2:21 PM
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