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November 7, 2008

Rental Reductions at One Brooklyn Bridge Park

obbp-1101.jpg Earlier this week, we reported tough times at One Brooklyn Bridge Park, since the bulk of buyers there were Wall Street types. Well, even if you're not in the market to buy, a couple of units are for rent there, with fresh price cuts. A 588-square-foot, one-bath studio is now $2,600, down from the $2,900 it was listed on Streeteasy for last month; two similar units are listed at $2,500 and $2,400. Any takers?




Posted by lisa at 10:15 AM | Comments (25)
Categories: Price Cuts, Rentals

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Comments

nope

Posted by: PitbullNYC at November 7, 2008 10:19 AM

What's next? Section 8 vouchers?

Posted by: daveinbedstuy at November 7, 2008 10:23 AM

'What's next? Section 8 vouchers?'

Why, not...haven't you heard...

'Ex-Homeless Housing No Problem for Property Values'

Posted by: bayridgegirl at November 7, 2008 10:27 AM

stop it about "property values" we are all PEOPLE of the planet called EARTH. what gives any one person the right to say to another person that they arent allowed within a given area? what the hell IS so valueable anyway about a sterile neighborhood with no services around the serve the needy? nothing.

-r

grrrr im angry today

Posted by: PitbullNYC at November 7, 2008 10:34 AM

PitbullNYC:

" what gives any one person the right to say to another person that they arent allowed within a given area? what the hell IS so valueable anyway about a sterile neighborhood with no services around the serve the needy? nothing."

As far as I can tell, as long as you can afford to live in any given area, they can live there. Within 2 blocks of these very high priced condos are $800 a month rent controlled apartments people have lived in for decades. Within 10 blocks there are housing projects. And, of course, there are multi million dollar brownstones.

Where have you seen it that people arent ALLOWED to live in that area? If they can afford to live in that ridiculous, ugly monstrosity that is One Brooklyn Bridge Park, let 'em have at it.

You ask what the hell is so valuable about a sterile neighborhood with no services around that serve the needy? Ask the people that buy there. To be fair they are the only ones with the proper answer.

Posted by: Prodigal_Son at November 7, 2008 10:45 AM

Eh, even if I did like the building and the unit (which I don't) I'd be afraid of being stuck with huge rent increases as soon as they decided the market was stable enough for them to try to sell.

Posted by: alsawo at November 7, 2008 10:49 AM

you're just being a snob with :"they are the only ones with a proper answer".

-r

Posted by: PitbullNYC at November 7, 2008 10:51 AM

alsawo, I'm wondering if part of the issue here is the building's location. ;-)

Posted by: Biff Champion at November 7, 2008 10:53 AM

"you're just being a snob with :"they are the only ones with a proper answer".

-r"

Hardly being a snob. I'm saying the only people who can really tell you why they pay ridiculous amounts of money to live in that area are the ones who actually are paying it. You moved from Harlem and now live in Park Slope, right? Why did you do that? Are you paying more? Less? You'd be the only one to answer that question right?

Lets say you make enough to buy a unit in that building. Lets say you -choose- to live there. You would have your own reasons to be there, right?

How is that snobbery on my part?

Like I said, if I had that kind of dough, I could think of a multitude of other places I'd rather be but if I chose to buy there, its my decision and mine alone.

Posted by: Prodigal_Son at November 7, 2008 10:56 AM

Biff--

Absolutely not. I love the location... didn't you hear? =) So lovely, so convenient.

-A.

Posted by: alsawo at November 7, 2008 11:20 AM

^ okay point taken. i didnt mean to get cranky and call you a snob.

-r

Posted by: PitbullNYC at November 7, 2008 11:23 AM

alsawo,

Yep, and a nice, easy 2 minute stroll to Borough Hall. In fact, I think it's closer to the subways than the homes at Clinton and Remsen. And the fresh air and quite environs too.

Posted by: Biff Champion at November 7, 2008 11:23 AM

Biff--

Absolutely not. I love the location... didn't you hear? =) So lovely, so convenient...

-A.

Posted by: alsawo at November 7, 2008 11:24 AM

Yes, Borough Hall, where apparently people are getting hit over the head with flashlights these days...

Posted by: alsawo at November 7, 2008 11:25 AM

Strange. Brownstoner re-posted my last comment rather than the one I just wrote, which was...

Yes, Borough Hall, where apparently people are getting hit over the head with flashlights these days.

Posted by: alsawo at November 7, 2008 11:28 AM

Biff, I'm taking your comments as sarcasm.

A 2 minute walk to Borough Hall, perhaps by an Olympian. In a car.

Posted by: Prodigal_Son at November 7, 2008 11:38 AM

Or I'm just not patient...

Posted by: alsawo at November 7, 2008 11:38 AM

Prodigal Son, yes, I'm being very sarcastic in reaction to some posters that alsawo and I were disagreeing with who claimed the location is convenient to the subways (moreso than Willow Place and Grace Court, apparently - ok...) and amenities. Other than the views and the potential to have a nice park at your doorstep, if and when that ever happens, to me this location has nothing going for it.

Posted by: Biff Champion at November 7, 2008 11:47 AM

My money is on the Jehovah's to buy it back for pennies now that Levine and Co. have converted it into residences.

Posted by: buttermilk channel at November 7, 2008 12:07 PM

It looks like these rentals are by unit owners, not the developer. The listing brokers may even be the owners. If so, maybe they were looking to flip or hold as investment. Asking monthly rent does appear to cover mortgage cost of the unit, without deduction for expenses. "Bulk of buyers" may not be wall street types.

Posted by: ITM at November 7, 2008 12:20 PM

I resent the undertone to "Wall Street types."

Posted by: daveinbedstuy at November 7, 2008 12:36 PM

Those rents seem high to me. $2500+ for a studio ??
Dont understand the attraction of this place. Right on top of BQE, no services and no transport. I suppose some of the owners will have good views but by no means all.

Posted by: 10thStreetReno at November 7, 2008 1:16 PM

Evidence of dropping rents. Pre-crisis they would have flown off the shelf.

Posted by: DOW8000SP800 at November 7, 2008 1:53 PM

I done say'd it b'fore an' I say it ageen: I'm fine wit' da location and wou'd e'en buy on the eas' side a da buildin', but not at doze crazee prices Levine iz askin'.

Posted by: altervoce at November 7, 2008 5:28 PM

dammit i picked a bad week to go away, i love defending this place.

Posted by: RobertMosesJr at November 10, 2008 2:25 PM

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