200 North 11th Now Renting
The development at 200 North 11th Street (aka 475 Driggs) has flown under our radar thus far but now it’s ready for prime time. According to DOB permits, construction began back in 2008. Recently the development started listing studios, one- and two-bedrooms for rent, according to StreetEasy. A studio is renting for $2,100 a month…
The development at 200 North 11th Street (aka 475 Driggs) has flown under our radar thus far but now it’s ready for prime time. According to DOB permits, construction began back in 2008. Recently the development started listing studios, one- and two-bedrooms for rent, according to StreetEasy. A studio is renting for $2,100 a month and a 1,300-square-foot two bedroom for $3,725. GMAP
Still very much under construction inside and no Certificate of Occupancy – they’re not sure when they’ll have it…which is strange because there are people who signed leases that start September 1st. Also, heat is not included, which is a crime. Residential building owners are REQUIRED to provide heat to their tenants between October and May in New York City. Building not done, no C of O and no free heat. Sketchy indeed. Folks need to ask the right questions before blindly signing leases.
Everyone seems to have forgotten these were also built on either an ancient Indian burial ground or a toxic brownfield. Or both.
BHO, I bid half off peak comps, so I have no idea what you’re talking about. Also, I think you’re confused about my “where is the money coming from” question. Renters are somehow still able to pay these rents. That means incomes are still high enough in some sectors.
“studio is renting for $2,100 a month and a 1,300-square-foot two bedroom for $3,725”
Jaysus! Not even prime Billy.
– how is N11th and Driggs, 1 block from the park and 4 blocks from bedford L not prime Williamsburg?
I think the real question is how many of these are being rented as shares? They seem pretty cramped for that, but I don’t see how these rents make sense otherwise.
“windowless ‘home office’ definitely not bad for 2,100”
Pass that shit!
“Where does all this money keep sprouting from?”
Bought time. Temporary prop-up of collapsing Ponziconomy. Fed’s MBS buying spree, Wash’s deficit spending > 10% GDP, Fannie/Freddie garbage can and banks/corporations hiding massive losses/debt off their balance sheets via FASB hijack.
Enjoy the euphoric reGOVery while it lasts.
BTW, what’d you pay for your apartment? About $800,000?
***Bid half off peak comps***
“I have to assume that these end up going for a bit less than what they’re asking, but given how many of these buildings are actually getting rented out, I’m just amazed.”
Actually, what’s even crazier is most apartments in these buildings rent for significantly more than the “starting at” prices. I’ve been looking on Streeteasy to see what these apartments eventually go for, and there’s quite a few people renting $3,500/month 1 bedrooms and $6,500 3 bedrooms.
Last year everyone was saying by this summer Williamsburg would be in flames, wild dogs would be roaming the streets and landlords would be paying you to live in their buildings – what happened?
I have to say, I am as stunned as anyone when it comes to the rents in this neighborhood. I have to assume that these end up going for a bit less than what they’re asking, but given how many of these buildings are actually getting rented out, I’m just amazed. When I was in the process of buying my apartment, the broker told me the place would rent for $4200. I laughed – it seemed completely ridiculous. Now, I’m not so sure. Where does all this money keep sprouting from? Unreal.
looks like most of the studios are small one bedrooms but the bedroom is a windowless ‘home office’ definitely not bad for 2,100 considering what 15×15 rooms are going for in other buildings in the nabe.