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July 14, 2009
Viridian Rentals Hit the Market

Half a year after Curbed predicted it, the first rental listings at the Viridian have hit the market. StreetEasy shows 28 units ranging in price from $2,155 for a 662-square-foot one-bedroom to $4,822 for a 1,267-square-foot three-bedroom. The development's original website still show a few orphaned listings for sale.
Bankruptcy Forces Sale of Viridian [Brownstoner]
Photo by NYShitty
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Comments
We can't sell it at a ridiculous price, let's see if renting it at an insane price works. Pure genius.
Posted by: more4less at July 14, 2009 10:17 AM
Rent dreams... 'high end' rentals crashing. larger units and above 2500,3000 stuff will dive now and/or this winter as more product comes on, banks/developers rent their vacants and all the dowtown BK stuff comes on
Posted by: BK realestate veteran at July 14, 2009 10:22 AM
renting at that price? Crazy...and you can't even see the East River.
Posted by: Art Salt at July 14, 2009 10:24 AM
These rental prices are ridiculous in Brooklyn with a real dearth of services compared to similar or lower prices in Manhattan where there'd be 200 restaurants within walking distance of anywhere and an ability to walk to work.
Posted by: daveinbedstuy at July 14, 2009 10:36 AM
"BK realestate veteran"
real tough guy log in.
Posted by: Return of Randolph at July 14, 2009 10:37 AM
maybe "rich suckers" are not on the extinct watch list as many of us logical people surmised
Posted by: more4less at July 14, 2009 10:38 AM
charging way too much. A one bed in this area should be 1500
Posted by: brickoven at July 14, 2009 10:40 AM
dave some people don't want 200 restaurants near by. instead they want to live in a toxic wasteland ;)
Posted by: Return of Randolph at July 14, 2009 10:42 AM
These apartments will sit and sit at those prices. Talking to many brokers while recently doing our own apartment search in Greenpoint the word is that most places priced above 2k are just sitting w/ no interest, while most inventory is moving in the sub $1600 range.
When we came along w/ our $2100 budget the brokers were practically all over themselves to show us apartments. There is a lot of crap in Greenpoint though- railroad apts chopped up into 2-3 "bedrooms" and terrible renos. There is a real lack of quality family size apartments in the area.
But at those prices- lol.
Posted by: ennuiater at July 14, 2009 10:50 AM
That will make one awesome youth hostel. complete idiots. There is no reason whatsoever to live over in the middle of nowhere for that much dough. Good job, developers.
Oh, and when I first saw the picture I thought this was that other wtf development on Spencer in Bed Stuy. Just drove by the other day and my reaction was: pure wtf. Why?
Posted by: MAT at July 14, 2009 11:12 AM
You can get a 1250 sq. ft. apt. in Park Slope for less than $4800/mo.
But, hey, I guess some people will pay extra to be within 6 blocks of the G train.
Posted by: northsloperenter at July 14, 2009 11:16 AM
> I guess some people will pay extra to be within 6 blocks of the G train.
Not to mention three blocks from the sewage treatment plant.
’Tis an ill wind that blows nobody any good.
Posted by: DitmasSnark at July 14, 2009 11:33 AM
This really isn't really in that much of a 'middle of nowhere' location as everyone thinks.
it's a 12 minute walk to the 1st stop of the 7 Train in Long Island City, and there are plenty of bars, restaurants, places to shop on Manhattan Ave.
That being said - the prices are bonkers. $2,100 for a one bedroom? The whole appeal of Northern Greenpoint is that it's still cheap. Even though I like it up there, I can't see someone spending 2,100 to live there when there is stuff priced similar further south.
Posted by: dirty_hipster at July 14, 2009 12:01 PM
DH, they aint marketing to you. They're targeting "rich suckers"
Posted by: more4less at July 14, 2009 12:06 PM
They should be marketing to me. 1,600 would get a whole bunch of interest. I'm sure they could rent them out eventually for 1,800 - but 2150 is stupid.
Posted by: dirty_hipster at July 14, 2009 12:17 PM
I just called for fun. The 2100 is after concessions of one and a half months "free".
Posted by: brickoven at July 14, 2009 12:23 PM
This building will sit empty for years
Posted by: brickoven at July 14, 2009 12:24 PM
so 2100 is net of the 1.5 months free, so the actual rent on the lease is higher?
Posted by: dirty_hipster at July 14, 2009 12:25 PM
DH, at those prices, they are not marketing to anyone with logic and smarts (ie they aint marketing to you).
Posted by: more4less at July 14, 2009 12:26 PM
haha i know m4l - so i guess the life cycle of these things are:
Overpriced Condos........sit on market.......Overpriced Rentals.........sit on market.......then what????
Posted by: dirty_hipster at July 14, 2009 12:28 PM
affordable housing?
Posted by: more4less at July 14, 2009 12:35 PM
That block isn't going to win any beauty prizes.
Posted by: East New York at July 14, 2009 1:02 PM
Awesome - I don't make enough to live in a 'luxury rental' but make too much to get 'affordable housing'
Posted by: dirty_hipster at July 14, 2009 1:08 PM
Dirty Hipster 2100 was the cheapest net effective apt. after one and a half months "free". So yes the lease would be for more.
Posted by: brickoven at July 14, 2009 1:16 PM
"Dirty Hipster 2100 was the cheapest net effective apt. after one and a half months "free". So yes the lease would be for more."
that's asinine brickoven.
Posted by: dirty_hipster at July 14, 2009 1:21 PM
These idiots are going to miss the peak rental season and be empty until next summer that is fo sho. I wonder if they even make it to next summer and I wonder who holds the paper?
Posted by: brickoven at July 14, 2009 1:27 PM
"Overpriced Condos........sit on market.......Overpriced Rentals.........sit on market.......then what????"
Developer/owner goes bankrupt.....rentals offered at reasonable rates.
Posted by: northsloperenter at July 14, 2009 1:31 PM
Fun with math:
The real rent is 2450 - meaning you need to have an annual income of 97,000 to live here.
Posted by: dirty_hipster at July 14, 2009 2:12 PM
(for the cheapest unit)
Posted by: dirty_hipster at July 14, 2009 2:13 PM
Oh and the building is still a construction site and will not be done until the new year
Posted by: brickoven at July 14, 2009 2:21 PM
i just passed this place and thought i'd like to live here.
i really like this nabe. the 3 bd is very appealing to families - you can go to ps 31 - 5 star school and it's not over crowded. there's the excellent Greenpoint Y for preschool and summer camp programs (and, also it's a Y with swimming, classes, etc...).
Franklin street is fantastic! there's excellent restaurants and shops, and it's charming as hell. it's actually very "brownstoner-ish." feels like fort greene. NY mag just wrote about the new restaurant Annella right on the corner of Green and Franklin-spitting distance from this building.
the franklin street playground is very nice for kids and the full on mcGolrick park is close by, which is lovely and was featured in about a zillion shows and movies in the last year. in fact, so many shows were shot there, that residents started to complain. if you don't know this park, go - it's very nice and full of beautiful old, old trees.
up on mcguiness, there's a big key foods. in the neighborhood in general, there's tons of small fruit and vegetable stands and butchers, drug stores, banks, etc..
i think it's a great location. those who don't probably don't know this area well. agree with above who mentioned that it's very convenient for people going to midtown to get the 7. folks going to downtown would take b61 bus to bedford L or g to lorimer L. also, a quick walk or ride over the pulaski bridge and you have access to all the shops and restaurants on Vernon Blvd in LIC and the piers and the playground on the water. and, PS 1 is so close too. we've been exploring more restaurants and galleries in LIC recently. and, yes, went to wine tasting at a LIC wine shop 2 weeks ago.
If you have a car, you can shoot over the bridge and up Northern Blvd and hit up a giant, clean Pathmark and Home Depot and PC Richards, and a bunch of other stuff. The target in Elmhurst is actually good unlike the Atlantic Center one. Of course, close to hop on either the BQE or the LIE.
re the price - well time will tell. our building is seeing rents in the $4K range for 2 bedrooms. don't confuse old with new. people will pay for new and A/C and washer/dryer and other comforts that new brings. if you want a great school and a convenient commute to midtown, this beats going further into Brooklyn for a many people I'm sure.
Posted by: wine lover at July 14, 2009 3:54 PM
I know this area well. You are stretching the glory of it a bit too thin. Hrd not to when you live there. Gotta 'represent', eh?
Yes, some nice restaurants on Franklin. And on Greenpoint Ave. But you are still in bumf**k Greenpoint with crap transportation and a generally scuzzy vibe overall. And Hey, i know scuzzy. I now live in Bushwick.
Posted by: MAT at July 14, 2009 4:17 PM
HA! dipster, i was just at ceci cela that french bakery near us on spring and when the woman was putting the cake i was getting in the box this woman next to me looks at the cake and says "oh that cake is giving me an ORGASM!" then she did this creepy stomach jiggle and hip gyration. :-/
*rob*
Posted by: PitbullNYC at July 14, 2009 4:19 PM
I just went onto Craigslist to find comparable spots in better locations for cheaper.
When in the F*CK did Greenpoint get so damn expensive? I have friends up there now in 1 bedrooms for 1100 bucks - and nothing i see on CL now is below 1,600.
http://newyork.craigslist.org/brk/abo/1269502348.html
^^^makes Viridian look like a good deal.
Posted by: dirty_hipster at July 14, 2009 4:29 PM
"the 3 bd is very appealing to families - you can go to ps 31 - 5 star school and it's not over crowded. there's the excellent Greenpoint Y for preschool and summer camp programs (and, also it's a Y with swimming, classes, etc...)."
The thing is, WL, these new developments have ridiculous square footage. 1267 sft 3 BR? You probably couldn't get a bed in the bedrooms. 1267 sft is what I would call a nice comfortable 1BR 1.5 bath, or maybe a 1BR w den.
Posted by: denton at July 14, 2009 4:36 PM
"$2,155 for a 662-square-foot one-bedroom to $4,822 for a 1,267-square-foot three-bedroom"
Banruptcy symptoms.
***Bid half off peak comps***
Posted by: Brownstones Half Off at July 14, 2009 5:28 PM
I don't know how reliable c-list is as a barometer for rents. I went on to compare my rent ($1700) to rents in my immediate vicinity ($2200). I know I'm getting a good deal but it's hard to believe I'm paying $500 less a month for what is essentially the same apartment.
Posted by: nycdelisauce at July 14, 2009 5:37 PM
As someone who lived in Greenpoint for 11 years, I think a 1BR should run 1100-1200, and 2BRs from 1400-1600. The prices that realtors are pasting on apartments there is a laugh riot, period. I mean, people pay over a grand to live in Greenpoint, *with* a roomate? Hello?
Yeah, yeah, some bars and restaurants have popped up in the hinterlands, but "a 12 minute walk to the 7"? Are you serious? OK, if you speedwalk over a huge hill of a bridge with semis speeding by. Oh, and if they lift the drawbridge, add 30 mins. McGolrik Park? It's over a mile away. That Key Food is full of derelicts in line to cash their aluminum cans. The entire neighborhood reeks of poop 80% of the time. I mean, come on...
Posted by: lucille at July 14, 2009 8:09 PM
Lucille - totally agree with your first paragraph.
The walk from Green/Manhattan to the Vernon/Jackson 7 train station is 0.8 miles and takes 15 minutes at the most. I know because I've done it several times, and Google Maps agrees with me. Would I want to do it everyday? Probably not - but if rents up there were what they are supposed to be - I could probably survive.
Posted by: dirty_hipster at July 14, 2009 8:53 PM

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