Rental of the Day: 110 Livingston Street Studio
Guess some of the buyers at 110 Livingston Street were pure speculators investors. Sotheby’s now has a 675-square-foot studio for rent for $2,750 per month. The never-been-lived in space looks like it has pretty high ceilings and clean, high-end finishes and fixtures. It would be interesting to know what the buyer paid for this place…
Guess some of the buyers at 110 Livingston Street were pure speculators investors. Sotheby’s now has a 675-square-foot studio for rent for $2,750 per month. The never-been-lived in space looks like it has pretty high ceilings and clean, high-end finishes and fixtures. It would be interesting to know what the buyer paid for this place to get a sense of what kind of return this rent would generate. Anyone know what the common charges are on a unit like this?
110 Livingston Street [Sotheby’s Int’l] GMAP
great building, great area. interesting that it’s sold faster than one hanson even, i wouldn’t have expected that
The nabe is definitely changing. Two Trees owns a lot of retail space around 110 Livingston including the YMCA, Little Gym, New Sovereign Bank, New balance store, rumored TJ space and old thomasville space. With that much real estate they can design sections of the neighborhood to meet the profile of its clients to boost up real estate prices like they did in dumbo.
Look at Montague street with all the one building ownership. Nothing but banks, RE offices and cell phone stores since they rent to the highest bidder.
TJ wouldn’t itself lead to increased prices for rents or apartment purchases but its a further sign that the nabe IS changing. With TJ moving in, it should (optimist) encourage other retailers/businesses to take the plunge and open up shop as well. I walked down Smith Street this past weekend and noticed a Lucky Brand Jeans store opening up… change is coming and there’s plenty of available space.
On a side note… if congestion pricing ever kicks in – the amount of traffic on Brooklyn Bridge Road should decline dramatically (except the weekend of course).
Trader Joe’s might open 4 blocks away at the old Sovereign Bank building, but would that really help raise prices for sales/rentals for the nabe?
Anyway, the old bank building is really pretty. If TJ’s moved in, it would probably be the most beautiful supermarket in NYC.
There have been a few rentals at 110 Livingston and as a previous poster stated, the price is about right. The Court House apartments go for at least $2700 – so this building should command at least that. I think the price is a a shade on the low side… i would argue for $2800/$2850 for the “luxury” accommodations including the proximity to the many subway lines. The building is one of the most talked about, written about (few NYT articles) of all the new construction on this side of the Bklyn Bridge.
Throw in the fact that the nabe may be getting a Trader Joes and its got the makings of a steal at that price.
In the interest of full disclosure – I’m a 110 Livingston owner.
There have been a few rentals at 110 Livingston and as a previous poster stated, the price is about right. The Court House apartments go for at least $2700 – so this building should command at least that. I think the price is a a shade on the low side… i would argue for $2800/$2850 for the “luxury” accommodations including the proximity to the many subway lines. The building is one of the most talked about, written about (few NYT articles) of all the new construction on this side of the Bklyn Bridge.
Throw in the fact that the nabe may be getting a Trader Joes and its got the makings of a steal at that price.
In the interest of full disclosure – I’m a 110 Livingston owner.
I think the relationship between owners and renters is similar to the one between drivers and pedestrians: While walking down the street, you’re like, “How dare that car cut me off?” The second you get behind the wheel, it’s like “Why don’t they get the hell out of the way!”
For coops the rationale is a little different – I’m not sure if it’s true or not, but the belief is that banks are reluctant to give new buyers mortgages in coops with too many renters for fear they will not maintain the building. In condos it’s less clear, but the general concern about turnover and annual moves in and out of the building is certainly legit in addition to any fears that renters won’t maintain their apartments.
I live in a small condo with some renters and our experience has been mixed, we were originally concerned that one owner rented to four college students but they turned out to be considerate, quiet tenants; meanwhile a family with a small baby moved in a few months ago and constantly leaves trash all over the place.
Rascal, I’m inclined to agree with you (for the most part), but I don’t see how a bigger kitchen would be possible in this unit without intruding significantly into the living area. A U-shaped kitchen doesn’t seem practical in such a small room. Given the choice, I bet most people who live in studio and small apartments would prefer a larger living room over kitchen space (I could be wrong, of course).
This type of kitchen is fine for a lot of people, including me–I eat out or order-in virtually every meal. I don’t think that’s unusual in NYC (maybe the norm?). My current kitchen is spacious and has a huge pantry, but the only thing I’ve used this Wolf range for is to boil water for coffee.
I imagine a family who cooks often might want and need a bigger kitchen/more cabinet space, but a family isn’t likely to be looking at this studio. A single person or couple who cook a great deal have lots of other choices for $2800 a month.
If you NEED to cook and eat-in because you can’t afford to eat out all the time–well, again, you’re probably not looking at $2800 a month studios.
Open kitchens are fine–I have one and love it–but there are ways to do it that are more efficient and practical. Two Trees really just took a very old New York apartment model–the galley kitchen–and removed a wall. As if that didn’t eliminate enough upper cabinet space, they installed open shelving above the stove. 6:10 is right: anything on the open shelving gathers grease and dust. It’s disgusting. Their original rationale for this design was that it is more “loft like.” Uh-huh. It’s also much cheaper. Look for U-shaped kitchens. Nothing better.