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]
quote:
Most companies take the most qualified candidates.
actually that is totally not true at ALL. maybe modeling agencies do, but no one else does.
*rob*
Why do the frownstoners hate on Downtown Brooklyn so much? I’d love for you guys to run down your neighborhoods so they can be analyzed…one by one:).
Given the circumstances, I think 25% rental rate at this stage of a game in what is considered a “fringe” area is good news. It shows the strength Brooklyn has relative to the other boroughs. Obviously, they are hitting price points that have attracted renters, such as myself. Yes, I am moving there for several reasons. And I have lived in NYC boroughs (except for Manhattan and SI) for 10+ years from above a funeral home, to a multiple family house and brownstone. I agree with Ty, it will be interesting to see how living in a huge rental building will pan out.
And no, I’m not the rich college girl from Ohio who’s parents are paying for my rent, I’m just your average new yawker who happened to get three months free plus a $500 discount on my fourth month 🙂 I don’t plan to live there forever so for me, it works out just fine.
While not Downtown Brooklyn, it’s also worth noting that 11 units are currently in contract at Richard Meier’s, On Prospect Park.
If those all close, looks like that leaves 11 units left there for sale.
Don’t forget the Forte is almost 100% in contract.
Rob, who said the jobs weren’t going to people who already lived here?
Most companies take the most qualified candidates. I’m not sure I understand your point.
I don’t know the new unemployment numbers BHO. Not sure they’ve been released. I was just passing along what I thought was some good news for our area.
You do think it’s good news that the NY area is hiring, right?
so there it is folks from the horse’s mouth:
bho has an “agenda” [shock]
note the downgrade from “thesis” [noted]
“Studios starting at 1450 don’t necessarily end there.”
Go ahead. Say it: Zazza!
So what’s the NY unemployment number, 11217?
***Bid half off peak comps***
quote:
Only New York reported a significant increase in hiring, the report said.”
and wouldnt it be a GOOD thing to keep these massive new buildings from being built so that people STOP coming to nyc from other places and taking jobs here and let people in the area already HERE take those jobs?
*rob*