1,500 Rental Units for DoBro
It’s hardly news for anyone who’s been paying attention, but yesterday Crain’s took the time to point out that three new rental developments in Downtown Brooklyn are all hitting the market at roughly the same time: Avalon Fort Greene (left, 650 units), 80 Dekalb (center, 365 units) and The Brooklyner (right, 490 units); studios at…
It’s hardly news for anyone who’s been paying attention, but yesterday Crain’s took the time to point out that three new rental developments in Downtown Brooklyn are all hitting the market at roughly the same time: Avalon Fort Greene (left, 650 units), 80 Dekalb (center, 365 units) and The Brooklyner (right, 490 units); studios at all three places are expected to start at about $1,700 a month. (Free rent concessions, though, bring the cost down close to $1,300, which starts to look pretty attractive.) While one of the developers involves admits that she we have preferred a little less competition at the start, we’re not so sure the confluence of launches is such a bad thing. (The article also dangles the possibilities of the Forte and be@schermerhorn getting repositioned as rentals.) The biggest barrier to people deciding to rent in these new buildings in Downtown Brooklyn is the lack of a critical residential mass. With all three coming to market at the same time it’s a potential game-changer for the area. Now if one of these places could just get a gourmet market or decent restaurant to sign on, they’d be all set.
Get Ready, Brooklyn: Flood of Luxe Rentals [Crain’s]
there are going to be people that do not want to live in highrise, cookie-cutter bldg and those that do.
Check around yourself, craiglist, realtors websites, etc to see how reasonable your rent is.
Unless you really were getting beyond top rent when this tenant moved in, that kind of decrease sounds out of line.
Don’t think is difficult to rent if you charge no fee and are competitive. Anyone who wants to negotiate that much sounds like a royal pain and I wouldn’t want them as a tenant.
I’m going to have to agree DoBro is a NoGo.
bbb- is he a good tenant or a pain in the a$$? Maybe he threw out the 25% knowing he would have to negotiate.
dumbo seems to becoming more and more like tribeca. lots of high end fancy condo / loft buildings with rich yuppie family oriented amenities and not much else.
Posted by: CG_ups at October 13, 2009 10:17 AM
I agree. Didn’t a while back a few posters list all the upcoming new condos going rental, something like 1,500? I believe it was a Williamsburg-centric list but still.
if i say no he is moving and I am not sure if I will be able to fill it up with all these buildings being close enough to compete. This is going t be a tough couple of years for sure
“my tenant just asked me for a huge rent decrease based on the pricing at 277 Gold Street. These buildings are going to kill me. He wants a 25 percent decrease.”
You can always say, “no.”
bbb-if you’re a small landlord, I doubt your expenses are going down. You have my sympathies- your tenant is asking too much. Maybe you can negotiate something with him.
my tenant just asked me for a huge rent decrease based on the pricing at 277 Gold Street. These buildings are going to kill me. He wants a 25 percent decrease.
Just took a quick look at the Avalon website. Sticker prices look OK but some of the apartments are tiny – lots of 13-14ft living rooms.