New Downtown Rental Buildings Off to Strong Starts
A couple of articles this morning highlight the successful starts that some of the new rental buildings in Downtown Brooklyn are off to. First off, The Brooklyn Eagle reports that the Avalon Fort Greene, a 631-unit building at the corner of Flatbush and Myrtle Avenues, has rented 176 apartments since September, more than 100 of…
A couple of articles this morning highlight the successful starts that some of the new rental buildings in Downtown Brooklyn are off to. First off, The Brooklyn Eagle reports that the Avalon Fort Greene, a 631-unit building at the corner of Flatbush and Myrtle Avenues, has rented 176 apartments since September, more than 100 of which are already occupied. Phil Wharton, VP at developer AvalonBay, sums up the rationale for the project’s location: In our minds, the transportation is excellent, the employment base is extensive, between 50,000 and 60,000, the nearby student population (and its faculty members) are significant, and there’s a connection with some great neighborhoods, like DUMBO, Boerum Hill, Brooklyn Heights and Fort Greene, which has a great community feel to it. A couple of blocks away at 111 Lawrence Street, 90 out of a total 491 units at The Brooklyner have been rented since marketing began at the end of last year; studios at the building, Brooklyn’s tallest, start at $1,450. The marketing agent for the 512-unit BKLYN GOLD on Gold and Tillary Streets doesn’t cough up the number of rented apartments, saying only that they’ve “had a tremendous response.” As you may recall, we guesstimated and crowd-sourced the news that 80 Dekalb is more than 25% rented. In all, according to the Downtown Brooklyn Partnership, there should be 5,000 new units on line by the end of next year. There’s even some good news in the Downtown condo market: The Oro has signed 37 new contracts since slashing prices in the autumn; 145 out of 303 units are now sold or in contract.
New Buildings Coming On Strongt [NY Post]
Avalon Fort Greene Rental Apartments Take Off [Brooklyn Eagle]
There are so many 1 bedroms to choose from, yet they are still the same old 2 rooms, and i still cant figure out where to put my table and 4 chairs?????
I think there were also too many studios, they should have combined them and made then 1 bedrooms and the abundance of 1 bedrooms should have been combined to make 2 bedrooms.
How many people really do want to live in 2 rooms and pay a 6 room price is beyond me.
the kitchens are ugly also.
there, i feel better now.
Good luck on the move lossforwords. The good thing about Downtown Brooklyn is that it’s close to so many great neighborhoods…and Atlantic Avenue ROCKS these days!
So if you were paying OVER $1850 a month to rent a 1 bedroom in Park Slope that goes to prove my point from yesterday that to OWN that 1 bedroom for sale on 9th Street yesterday for $2100 a month (not including the mortgage interest deduction) the place actually was a pretty good deal.
That’s for BHO though…not you.
“three months free plus a $500 discount on my fourth month”
The confession of a concession. About a $1,500/mo effect on a 1-yr $2,000/mo studio. Still damn good for a studio though.
***Bid half off peak comps***
Hells yeah and I got a one bedroom, net effective came to $1850, cheaper than what I’m paying for in a “charming” brownstone in Park Slope with old pipes and a sh*tty kitchen. I will admit though, I will miss the neighborhood.
Agree more4less; the best news in these articles isn’t the rentals filling up, but that Avalon is planning 2 restaurants. We’ll see what type they end up being (ie., quizno’s, applebee’s or something better). Since I live in the neighborhood, I’m rooting for the retail to finally arrive…..
“three months free plus a $500 discount on my fourth month”
The confession of a concession. About a $1,500/mo effect on a 1-yr $2,000/mo studio. Still damn good for a studio though.
***Bid half off peak comps***
Going rental is the lesser evil vs the BS FHA 5% down crap. Rental brings people in and maybe attract more retail stuff into area – good news no matter how you cut it. FHA 5% down at these prices is crap that’s going to end up with us taxpayers footing the bill.
Go Rental! Go Rental! Go Rental!
No FHA 5%! No FHA 5%! No FHA 5%!
Rob,
That is the funniest thing you have ever posted (that I have ready, anyway).
hahaha
I would like to personally thank you, cillmylandlordagain for bringing the word frownstoner to us.
Love it. Hope you don’t mind my using it repeatedly. 😉
Rob, we’ll have to agree to disagree on this one. Still not sure why you think all the new jobs being created in NYC are not being filled by those who live here. I’m sure some are from out of town relocating here, which would only further my argument about them taking the most qualified since companies usually pay extra for those moving from out of state to help with moving costs.
Anyway, that really doesn’t have anything to do with the topic at hand. My point was that NYC is adding jobs. Period.
BTW, as I’ve stated before…Brooklyn is fringe for some people so I always laugh at the use of the word “fringe”. What does that mean? I don’t get it.