Luxury Rentals Abound
Developers of new rental buildings aren’t as squeezed as those who are trying to pawn off new condos, but they are still struggling. The New York Times reported over the weekend that among the 7,000 new rentals citywide, Brooklyn will see 3,500 new luxury units (including some that opened in late 2009). According to the…
Developers of new rental buildings aren’t as squeezed as those who are trying to pawn off new condos, but they are still struggling. The New York Times reported over the weekend that among the 7,000 new rentals citywide, Brooklyn will see 3,500 new luxury units (including some that opened in late 2009). According to the Times, rents in the city are down about 25 percent from the market’s height in 2008 and the vacancy rate is almost two percent, compared to one percent in 2006 and 2007. Given the glut of rentals, developers in Downtown Brooklyn and Williamsburg continue to court would-be luxury tenants with free rent, gym memberships and iPods, among other perks.
Buildings mentioned: Avalon Fort Greene, the 600-plus unit building along the Flatbush corridor; 60 Monitor, the 60-unit project in Williamsburg; 184 Kent, which began as a condo; 80 Dekalb, Forest City Ratner’s 36-story tower; Brooklyn Gold, the 512-unit condo-turned-rental; and Brooklyner, the looming 51-story building built by the Clarett Group. Avalon and Brooklyn Gold have experienced delayed move-in dates, but you knew about Gold already. And what happened to the strong starts?
t-seis
you post here as routinely as developers us the word *luxury*.
im not complaining about either, just pointing out that life requires filtering.
Hahaha. it’s true. Remind me not to respond to apartment ads for “glamorous living.”
tybur – this is NYC. it’s glamorous to live in squalor. don’t worry bout it.
Petebklyn… I don’t think it’s that crazy to voice the opinion that (1) for the most part, there is nothing particularly luxurious about the majority of “luxury” apartments, and (2) when someone pays, say, $1600 a month or almost $20,000 per year for a “regular” apartment… it maybe should be halfway decent and not the equivalent to a $450 student apartment in Syracuse. And I don’t mean size. I mean quality and upkeep.
OR… we can say nothing, have no expectations for landlords and live like squatters in the ’80s (all the while paying exorbitant sums of cash… instead of *actually* being squatters.)
and the reason you live here then , tybur6, is?
and the reason you live then , tybur6, is?
(by the way, if you were wondering, I don’t have old linoleum in my livingroom… but the kitchen floor was so old, nasty and uncleanable I actually spent a $80 for some of those cheap adhesive vinyl squares — with landlord ‘approval’ of course.)
2-4-6-8 everybody evacuate! Kerboom! Tishman/Blackrock kaput! 63% off peak comp!
“It’s called the walk, the walk, just let yo’ body talk.” – Morris Day and The Time
Only they didn’t walk, they ran (smart). This is what happens when you try to beat 10x annual rent.
***Bid half off peak comps***
Yes, tybur6, and window air conditioners; even on Park Ave.