506 Washington Avenue: Market Rate Rentals On the Way
While initially rumored to be another PACC project, the 22-unit building at 506 Washington Avenue in Clinton Hill is in fact a market-rate rental building that should be coming on line in the next few weeks. The building, which has a range of apartment sized from studios to three-bedrooms, has an unfortunate architectural pedigree, having…
While initially rumored to be another PACC project, the 22-unit building at 506 Washington Avenue in Clinton Hill is in fact a market-rate rental building that should be coming on line in the next few weeks. The building, which has a range of apartment sized from studios to three-bedrooms, has an unfortunate architectural pedigree, having been designed by Bricolage. (Then again, that goes a long way in explaining why the building fails to align with either neighboring facade. And those mono-brow lintels.) We tracked down one of the partners and the agent for the listing and got some info on pricing: Studios will go for $1,700 a month; one-bedrooms for $2,000; three-bedrooms for $2,300 to $2,500. The construction’s basically done but they’re waiting on the myriad inspections that must occur before leasing can begin. “We’re hoping to have everyone in by the end of the Fall,” we were told. GMAP P*Shark DOB
$2000 for a 1 bedroom is the around the going rate…for now.
How do you go from 2K for only 1BR to 2.3K-2.5K for 3BR? Only $150-$250 per extra room? Must be small ass extra BR’s.
If this is the rent roll that developers (rental or condo-to-rental) need to avoid bankruptcy…OUCH!
Hey 3:11. You must be ignoring all the bad economic news on this house-of-cards economy of ours. Stock market’s on life support. Click your heals and repeat after me, “There’s no place like home. There’s no place like home”. When you wake up, take your own advice and scrounge/save ’cause your rental will command much less than you think when unemployment goes BOOM!
Its smart of them (from an @$$hole republican business perspective) to start with outlandish prices. Then when renters actually pay $200 less than originally asking, they feel like they are getting a deal. THEN, there will be precedent for charging $1500 for a studio in the area and next year they can really charge $1700. The @$$hole repbulican business-side of me is very pleased with this, because when I want to move to a bigger place and rent out my condo in Clinton Hill in a few years, I’ll be able to cover mortgage payments, and then some. Life is good when you own.
All you renters out there, I suggest you scrounge, save, and borrow every penny to buy a place in Bed-Stuy, Kensington, Crown Heights, Bushwick, or even further. You cant stop these forces, and life is too short, so try to benefit from them, and do as much good as you can with your life, money, potential, and investment.
that rent is WAY TOO HIGH!!!! who are the dumbasses that pay that?
people make the market depending on what they are willing to pay, so you should always ask for less and NEVER pay this much!!!
they must be out of their minds. who would be such a fool to pay that amount for rather small spaces ?
that studio better be 800sf
3BRs for $2300 to $2500 makes sense. Studios for $1700? That’s going to be tough.
“Studios will go for $1,700 a month; one-bedrooms for $2,000; three-bedrooms for $2,300 to $2,500. “.
Good luck with that! Crack is sure tasty ; ^ }
What’s up with the facade balconies on many new buildings in Brooklyn? Does anyone actually use them, or are they just a way to get around any possible open-space requirement in the zoning (if any–I can’t say I know that much about Bklyn’s zoning) and bump up a building’s marketablity? Actually, I think that I know the answer to that question.
Look around, most historic buildings don’t have balconies on their facades. Theres a reason for that….