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 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]