Breaking News on 505 Court: Yes, Rentals
Rumors have been swirling about the troubles at 505 Court Street where condo sales have dragged to say the least. Curbed reported this morning that word of a rental office had emerged, creating confusion in the marketplace. Well, we just got an anonymous tip that 20 condo units in the building are being taken off…
Rumors have been swirling about the troubles at 505 Court Street where condo sales have dragged to say the least. Curbed reported this morning that word of a rental office had emerged, creating confusion in the marketplace. Well, we just got an anonymous tip that 20 condo units in the building are being taken off the market and turned into rentals. Any word on monthly rents?
Does anyone know if 505 Court is still having problems. Seems like a year ago there were a lot of complaints on this site. I was thinking of renting there – a two bedroom for about 2700. I grew up in the area so I know all the ins and outs of that part of Court St., but I wanted to know if they fixed up rather than patched up.
However, the big problem here is that all apartments are to be leased out for one year only — apparently they’re going to try to sell them again in a year and so are specifying that there will be no lease renewals. How one year is going to change anything here is beyond me, really, because those rent stabilized tenants aren’t going anywhere (nor should they). They should be offered an attractive insider’s price; then see how quickly they get that offering plan approved. This has been mismanaged from the get-go.
A $1500 floor-through in Carroll Gardens is ancient history Patrick. And those landlords continuing to rent out at those prices are too — they hear of the outrageous rents others are getting listing through brokers (at no cost to them — it’s the tenant who pays for everything) and are doing the same. Maybe Tommy hears of one apartment every three months like that — hardly enough for all the people clamoring to live in this newly “hip” area.
Babs you have a pretty crappy database then… I have lived between 2nd place and 9th St for the past decade and I’d say the average price for a floor through is 1500. Granted most of these don’t come up in real estate offices, as they are passed on to friends, or rented out via word of mouth ( talk to Tommy at le Petit he always has a lead). Carroll Gardens is so inflated cause people with money moved in and actually paid ‘sticker price’.
505 has been run down for the past 8 years, and beyond the views everyone I’ve know who has lived there has not been happy with the building.
But I checked Corcoran for Carroll Gardens recently and my goodness its just insane out there( $4000 for 2br) if you use a broker, plus the 15%? who makes this sort of money outside of Wall Street? You need make what 250k plus to afford that.
Well, considering that the cheapest apartment in my database in the entire Cobble Hill/Boerum Hill/Carroll Gardens area is $1400 for a tiny 1 BR on Pacific between Boerum Pl and Court, and that there is only one other apartment at this price in the entire area (and it may well be gone by now), this price for a big, sunfilled, loft-like studio (the square footage is larger than either of the above), nothing too mind-altering I’d say. This entire area has gotten really expensive (as has just about everywhere else).
After reading up about this building errr…..what are they smoking? 1650 for a studio?
I hear all the news about the softening real estate market and, as an owner, I begin to worry. When I see that 3 bedroom apartments in a building like this renting at $3,000-$4,000 a month, I remember why we bought.
Looks like on Corcoran
3Bdr —$3300->$4200
2Bdr —$2500->$3650
1Bdr —$2175->$2375
0Bdr—- $1650