Bedford Avenue Building Leased in One Day
Recession? What recession? The new 14-unit building at 320 Bedford Avenue (at South 2nd Street) went on the market at 11:00 a.m. on Sunday, July 19, and leased all of the “loft-inspired” apartments within 24 hours, according to the real estate marketing firm aptsandlofts.com. The apartments include studio, one-bedroom, and two-bedroom units, with rents from…
Recession? What recession? The new 14-unit building at 320 Bedford Avenue (at South 2nd Street) went on the market at 11:00 a.m. on Sunday, July 19, and leased all of the “loft-inspired” apartments within 24 hours, according to the real estate marketing firm aptsandlofts.com. The apartments include studio, one-bedroom, and two-bedroom units, with rents from $1,800 to $3,300 per month, as well as nearly 6,000 square feet of retail space. So the big question is: is this a sign of better days to come or just a fluke? With only fourteen units, this could be either a statistical anomaly, a market indicator, or evidence of a savvy business plan. Only time will tell. But before anyone gets too excited, remember that the fact that this is a rental at all is a sign of a sickly market. GMAP
This isn’t the same building that had the NY Mag article, is it? Because if it is, there goes your market indicator…
i do still encourage anyone reading this with money to find an already done condo with people living in it, etc.. where a developer is trying to just ditch remaining inventory in WB and buy it and rent it the next day. rental demand and prices are not going down in WB. everyone who has rented out their condos in my bldg has rented them immediately and for way over their mortgage.
pretend that the advice is not coming from me even! friends that i have that are not kids – 30+ to 40ish – are paying up to $3K for one bdrms in WB.
yes, 11217 is correct that many of our mortgage payments are lower than rent. especially with these fab low rates.
the convenience aspect to manhattan is huge and so many people are just hopping on their bikes over the bridge these days too.
I used to curse that developer everyday. They tore up the sidewalk so badly it was impossible to get a stroller over it. The construction site really was a hazard– sendmedia is right.
In terms of rentals, it’s a prime location and I’m sure they are sleekly finished. Better deal than Kai Construction, that’s for sure.
“It’s just about the downpayment situation (which is admittedly difficult).”
And the fact that you aint gettin it back. Poof!
***Bid half off peak comps***
It was FSBO Park Sloper, and I did some pretty hardcore negotiating. 🙂
And to top it off, my maintenance is more than $100 less per month than that Ft. Greene studio today…
Wanna trade?
Just kidding, I love my place endlessly. I truly enjoy living in a small space.
11217: Nice! That’s exactly the kind of lifestyle I fantasize about (including a second home abroad) when I think of selling my 1,800 square feet garden duplex (a block away from you, bet. 6th & 7th) someday and buying a studio instead. In fact, what you’ve got seems fairly comparable to this Fort Greene studio. It just seems to me it would have been priced higher 1-3 years ago, which is probably when the market was at its highest. I’m surprised if you paid less during that same time frame.
Sure it’s small, Park Sloper…it’s a studio (350 sf or so) but I get to live alone, travel, have a vacation “home” in another country and live in a brownstone in the historic district of what I consider one of the most beautiful streets (and areas) of NYC.
The co-op of the day affords someone an equally low mortgage payment if they put 20% down. I don’t think a lot of people in Manhattan (and Brooklyn, I guess) who are paying $1500 a month EACH to share a 2 bedroom realize that they can live alone and own for the same price.
It’s just about the downpayment situation (which is admittedly difficult).
“That’s more than my mortgage payment to live alone in an apartment I bought at the top of the market. Just fyi. ”
Haha don’t rub it in 11217!
11217: Must be a small apartment, and I question whether you really bought at the “top of the market”? How many square feet? That’s an unusually low mortgage payment.