Halstead is now marketing two new developments within a block of each other on the Court Street corridor. This in itself would not be big news were it not for the fact that they are both rental buildings as opposed to condos. The 13-story, 50,000-square-foot building nearing completion at 65 Schermerhorn Street (left) will have 64 units, a mix of studios, one bedrooms and “one bedroom plus office” units. (Some readers predicted this would be a rental a year ago.) No word on what the rents will be. With seven three-bedroom apartments spread out over ten floors and monthly rents starting at $8,100, 183 State Street (where, according to an earlier thread, the developer is the former proprietor of the chinese restaurant that used to occupy this site) is going after a significantly ritzier demographic. Do you think the demand will be there? What do you make of the decision of both these developers to go rental from the start?
65 Schermerhorn Street [Schermerhorn Court] GMAP
63 Schermerhorn: How You Lookin’? [Brownstoner]
183 State Street [Halstead] GMAP