Avalon More Than 20% Rented and 10% Occupied
If you’ve noticed some lights on at Avalon Fort Greene, the mammoth new rental development at the corner of Myrtle and Flatbush Avenues, that’s cuz somebody’s home. There are now 78 apartments being occupied at the 650-unit project, which started marketing around Labor Day and only become ready for move-ins a couple of weeks ago….
If you’ve noticed some lights on at Avalon Fort Greene, the mammoth new rental development at the corner of Myrtle and Flatbush Avenues, that’s cuz somebody’s home. There are now 78 apartments being occupied at the 650-unit project, which started marketing around Labor Day and only become ready for move-ins a couple of weeks ago. An additional 72 apartments have been rented, meaning the building’s now 23% rented.
All Is Revealed at Avalon Fort Greene [Brownstoner]
Avalon Myrtle Showing Some Brick [Brownstoner]
Avalon Myrtle Passes the 3/4 Mark [Brownstoner] GMAP
Development Watch: Avalon Myrtle in High Gear [Brownstoner]
Development Watch: Avalon Rising on Myrtle [Brownstoner]
Avalon is an advertiser on Brownstoner.com
11217 @ 3:38pm: Two months free rent for a 1 yr. lease. Three months free rent for a 2 yr. lease. No monthly or yearly fee for the use of the gym or lounge for those who “get in early.”
“How many ugly ass developments do we see highlighted here on the outskirts of Williamsburg asking the exact same price for a 2 bedroom, if not more..?”
It’s that whole supply and demand thing
Luxury rental inventory (at least for now) is very low in Prime Williamsburg – which is why they seem to be successful renting out 2500 dollar a month 1 bedrooms with no doorman or amenities. (which i hope changes soon)
and as Heather pointed out – DT BK is fringe whereas WB is not (despite how much you hate it 😛 )
“If Avalon is giving a couple months free, it all comes out in the wash on overall price. ”
Yeah – after a year you will be paying 2400 for a one bedroom instead of 2100. That’s fine and dandy if you are a typical NYC nomad – but for someone like me who moves somewhere and would like to stay there 5 years at least – 2100 might be affordable where 2400 isn’t (and Avalon most DEF will raise your rent at least 7% – even in a down rental market)
the 500 dollar security deposit is nice though
80 Dekalb is priced aggressively as well.
Heather:
How many ugly ass developments do we see highlighted here on the outskirts of Williamsburg asking the exact same price for a 2 bedroom, if not more..?
And they probably don’t have nearly the services as this place, and certainly no doorman.
DH:
Pricing at Brooklyner might be cheaper, but I also guess that they are probably give fewer incentives than Avalon.
If Avalon is giving a couple months free, it all comes out in the wash on overall price.
Okay, I want everyone in this thread who is actually personally willing to pay more than 3500 a month in RENT for a 2 bedroom, with one salary — I don’t care how high or low it is — in one of the least attractive stretches of downtown Brooklyn — to raise their hand. I mean, this is not 110 Livingston, even. This is, technically, a fringe area, no matter how convenient of one it might be.
dirty_hipster @ 1:58pm: Precisely why I will be renting @ The Brooklyner come Feb. 2010.
“What should people be paying to live 3 minutes from Manhattan?”
I dunno cillmylandlord – as there aren’t really any comps for the area and the rental market is in flux right now.
I will say, out of all the rental buildings in DT BK – Avalon is probably priced most aggressively. The link I posted to the availibility in The Brooklyner has 1 bedrooms about 300 – 400 bucks cheaper per month, and the 2 bedrooms are almost 800 bucks cheaper – in what I would argue is a better location.