Fresh Rentals at 639 Fourth Avenue
Fresh is the adjective of choice at this building, on 639 Fourth Avenue at 18th Street. The adverbs that go with it, per their marketing campaign: architecturally, invitingly, entertainingly and luxuriantly. What’s freshest about it, though, is that the condo building is offering rentals. The property is handled by The Developers Group, and their Web…
Fresh is the adjective of choice at this building, on 639 Fourth Avenue at 18th Street. The adverbs that go with it, per their marketing campaign: architecturally, invitingly, entertainingly and luxuriantly. What’s freshest about it, though, is that the condo building is offering rentals. The property is handled by The Developers Group, and their Web site shows 28 units for rent: one-, two- and three-bedrooms between $2,300 and $3,725. Perhaps a hefty sum for this location. Potentially swaying factors include doorman, valet parking, “floor to ceiling aluminum framed windows almost everywhere, Blizzard Caesar stone Quartz countertops, wide plank white oak flooring, and solid core interior doors.” Anybody looked here and care to report? GMAP
11217:
Read my post again, I didn’t say only people on wall street can afford the building.
Ask your friend about marketing. Market studies have two steps: identifying your market in terms of who can afford the product or service you want to provide and then of those people segment them based on the probability the product or service will appeal to them. It’s not just a question of “can people afford it?”. It’s also a question of “what other choices do those people have?”
Why do people move to Park Slope? The architecture. The culture. The park. Commuting distance. I just don’t think this building competes very well to many other rental properties in the neighborhood, especially at that price.
Population growth and/or superior product offering is what drives residential real estate. That means when a developer builds residential product, he thinks people will either “trade up” to his product or it will cater to new people who move to the area but don’t have a home.
I don’t think the population of Park Slope is going to increase much in the near term – so from where will the customers of this building owner come? My anecdotal evidence comes from my circle of friends in the neighborhood. No one I know would pay more per month to live over there, even to have a doorman and an elevator. I just don’t buy it.
We’ll see who is right soon enough though.
11217 Dear,
You are proving yourself to be a bit slow, because you don’t understand the meaning of “starting salary” as used by everyone besides you.
If you start at a new company, you could be 50 WITH 30 years working experience, and it would still be the starting salary at that particular firm, MY DEAR!
My dear, if you have five years experience, it’s not a “starting salary.”
I’m not out of touch with salaries in the big city. I also work for a big publishing company. Only a handful of executives make more than 120K.
If you make 70K before taxes, 1600 a month is a stretch, and if you’re making 80K, 2000 would be half your take-home salary. The $2300 one-bedroom price suits the working professional couple.
“My friend makes 75K as the manager of one of the Urban Outfitters in the city. She’s 26. Gap managers make similar.”
For retail? Jeeze, I’m in the wrong business.
I don’t know his title, mopar. He does ok.
160K is a hefty amount, no doubt, but I have many friends in their early to mid 30’s who make close to that or above. I have another friend who works as a Development Director for a medium sized not for profit and he makes about 150K. I think you might be slightly out of touch with salaries in the city. These are not people in finance, but successful people who have worked hard.
You do realize that the starting salary for a marketing job (with about 5 years experience) with something like Macy’s, Nordstrom, JCPenny, The Gap, etc is about 90K, right? My friend makes 75K as the manager of one of the Urban Outfitters in the city. She’s 26. Gap managers make similar.
Fascinating. Mr. Esquire magazine must be taking home at least $8,000 a month after taxes, or more than $160,000 a year. Is he also assistant publisher?
$2300 for a legitimate 1br is very cheap for Manhattan below 110th St….and more or less market rate for Brownstone Brooklyn.
I think you mean Polemicist is just slow.
To suggest that the only people who can afford a $2300 1 bedroom is a Wall Streeter, is pretty absurd.
I have friends who are creative directors, lawyers, doctors, development directors at not for profits, dancers, actors, etc.
All of which pay that much (OR MORE) for 1 bedroom apartments.
I have one friend who pays $3800 a month for his 1 bedroom in Hells Kitchen. He works for Esquire Magazine.