Development Watch: 126 4th Avenue
The large development at Baltic Street and 4th Avenue, now almost complete, currently acts as the northern bookend to 4th’s construction boom. Like some of the other newbies farther down the avenue, the building is maybe not the most exciting structure in the world, design-wise. Unlike the Crest and Novo, though, word on the street…
The large development at Baltic Street and 4th Avenue, now almost complete, currently acts as the northern bookend to 4th’s construction boom. Like some of the other newbies farther down the avenue, the building is maybe not the most exciting structure in the world, design-wise. Unlike the Crest and Novo, though, word on the street is that this one’s going to be a rental rather than a condo (and that it was originally slated to be a hotel). The 50-some-odd-unit building recently lost its ground-floor scaffolding, which would seem to indicate that it’ll soon be marketable if not habitable, but we haven’t come across any listings yet. We’re betting a reasonably priced rental this close to the Atlantic-Pacific hub will have no problem doing brisk business.
Fantastic 4th? Eh, We’ll See [Brownstoner] GMAP
Ugly Ass Functional & Simple Fourth Avenue Building Revealed [Gowanus Lounge]
Goodbye 4:43, Dont let the door hit you on the way out.
Another reason to leave NYC. I can see this crap from my front stoop. Goodbye NY it was fun for a while.Now it sucks.
I think this is a product of the upzoning on fourth when things were booming…Throw any old thing up with four walls and some windows and they will surely move.
Now – Not so much.
horrible horrible horrible.
*gag*
i know some people in a 3 bed on st.marks and 4th thats 2800.
BTW, this thing looks like the prison on Atlantic, LOL!! Could be the sister building..
“typical rents in this area are $2000 for a 1 bedroom.”
Not on Fourth.
The developers are wisely converting to rentals. The condo market is busted since ‘jumbo’ mortgages are no more. This is a ‘jumbo’ class building, albeit ugly, and there is no way it would generate income in the present busted condo climate.
But the rental bubble has got to pop as well. Rents in NYC are way above sustainability and it’s only a matter of time until the glut of over priced rentals forces prices downwards.
typical rents in this area are $2000 for a 1 bedroom.
not for a 2 bedroom.