Oro Making Owners of Renters

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The rent-to-own program started last year at the 303-unit development in Brooklyn known as the Oro has been a big success, according to a press release that went out last night. Twenty people ended up going with the option; four have already closed and three are scheduled to close. As for the other 13, we’re not sure, but the presser also references at 70-percent conversion rate, which would suggest that at least another seven rent-to-owners will be closing in the coming months. We’re not sure about the fine print, but based on our cursory understanding of such deals, it sounds like a free option to us, which is never bad.
Oro is an advertiser on Brownstoner

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