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The new Crown Heights development at 500 Sterling Place is completely rented out — and at record-setting prices — after almost eight months, according to reps from Halstead Property Development Marketing. The seven-story, 77-unit development hit the market in July, with rents ranging from $1999 for a studio to $4,330 for a two-bedroom, 2.5-bath duplex with two balconies. The apartments have fetched $61 per square foot, according to Halstead. Adam America developed the project, and Nataliya Donskoy designed it.

500 Sterling Place Coverage [Brownstoner]
Photo by Halstead

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It’s been an unusually long and cold winter, but even so, the heating bills at new luxury rental building 500 Sterling Place in Crown Heights have been “insanely expensive,” according to one renter there who got in touch with us. She said said her January bill was $598 and February $700 to heat a two-bedroom, two-bath apartment of about 1,000 square feet — and that was with the heat off in one of the bedrooms. (For comparison, this is about what we pay for a three-story row house.)

“At this point, most tenants I’ve spoken with are very upset,” she told us. “I don’t know what we’re going to do about the bills ourselves, as they’ve gotten to be more then what I can afford. We’re definitely moving out after our lease is up!”

Each apartment has large PTAC electric heating/cooling units under the windows in its main rooms. Click through to see what one looks like in a bedroom at the complex.

Since she first contacted us two weeks ago, the management company has met with the entire building to discuss the problems and has agreed to pay “a substantial portion of everyone’s ConEd bills,” she said. They have been “really receptive and transparent. I think we’ll wait and see about moving, as they’ve been so responsive.”

Complaints about high heating bills are not uncommon in new-construction luxury rental buildings. Another example is 53 Broadway in Williamsburg, which we’ve written about here and here.

The building’s management company had no comment. We also reached out to the owner, and will update the story if we hear anything.

In the meantime, is anyone else out there experiencing similar problems with PTAC units in any kind of building? And are there any heating experts out there who can clue us in to what the underlying issue is — design, installation, or just the nature of PTAC units?

500 Sterling Place Coverage [Brownstoner]
Photos by Halstead

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A Crown Heights gas station and car wash at Bedford Avenue and Eastern Parkway has just sold for the jaw-dropping price of $32,500,000, and is already being dismantled to make way for an eight-story apartment building. Developer Adam America was the buyer of the 24,000-square-foot property at 1525 Bedford Avenue, as The Real Deal was the first to report. The new development will have 133 units spread across 91,337 square feet of residential space, and 20 percent of the apartments will be affordable, according to new building applications filed yesterday. Issac and Stern are the architects of record.

There will also be 14,669 square feet of commercial space, 42 underground parking spots, a gym, roof deck and basketball court, according to broker TerraCRG. The gas station closed last month, and a construction fence went up around the site a few weeks ago. The photo above shows workers taking down the BP sign in December. 

Adam America’s first project in Crown Heights was a seven-story rental building at 500 Sterling Place, which began leasing last summer and sold last week for $48,000,000, according to The Real Deal.

Adam America Developing 130-Unit Crown Heights Building [TRD] GMAP

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After only a month of leasing, the Adam America-developed rental building at 500 Sterling Place in Crown Heights has leased more than 50 percent of its units. A PR rep for Halstead tells us the development rented its 40th unit yesterday. The seven-story, 77-unit building has studios, one- and two-bedrooms ranging from $1,999 to $4,330 a month. It also features a roof deck with a misting wall, an outdoor movie projector, part-time doorman, gym, barbecues, bike storage and private parking.

500 Sterling Place Listings [Halstead] GMAP
500 Sterling Place Building Site [500 Sterling Place]
500 Sterling Place Coverage [Brownstoner]

Photo by Halstead

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Listings went up last week for the nearly complete rental building at 500 Sterling Place in Crown Heights, and now we have interior photos of the apartments, not just renderings. A representative from Halstead, which is marketing the rentals, sent us the images.

The seven-story, 77-unit development has studios from $1,999, one-bedrooms from $2,499 and two-bedrooms from $3,100. There’s also a one-bedroom, 1.5-bath duplex with two balconies asking $3,425 a month, and a two-bedroom, 2.5-bath duplex with two balconies for $4,330. Click through to see more photos! What do you think of them?

500 Sterling Place Listings [Halstead] GMAP
500 Sterling Place Building Site [500 Sterling Place]
500 Sterling Place Coverage [Brownstoner]

Photos by Halstead

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Listings have been posted for the rental building at 500 Sterling Place in Crown Heights, which looks just about finished. Halstead is handling the marketing and has eight listings so far for the seven-story, 77-unit development.

Studios start at $1,999, one-bedrooms at $2,499, and two-bedrooms at $3,100. There’s also a one-bedroom, 1.5-bath duplex with two balconies asking $3,425, and a two-bedroom, 2.5-bath duplex with two balconies for $4,330.

Adam America developed the building, and architect Nataliya Donskoy designed it. Amenities include a part-time doorman; gym; roof deck with “misting wall,” projection screen and barbecues; bike storage, and private parking. What do you think of the pricing?

Click through the jump for interior renderings and floor plans.

500 Sterling Place Listings [Halstead]
500 Sterling Place Building Site [500 Sterling Place]
500 Sterling Place Coverage [Brownstoner]