Rental of the Day: 562 Court Street
This eight-unit baby nestled next to the BQE was originally conceived as a condo, but it recently popped out as a luxe rental instead. The two-bedroom, two-bath apartments are all around 1,000 square feet and renting between $3,200 and $3,500, according to Brown Harris Stevens broker Helen Van Rhyn. The rents aren’t cheap, but the…
This eight-unit baby nestled next to the BQE was originally conceived as a condo, but it recently popped out as a luxe rental instead. The two-bedroom, two-bath apartments are all around 1,000 square feet and renting between $3,200 and $3,500, according to Brown Harris Stevens broker Helen Van Rhyn. The rents aren’t cheap, but the units get amazing light and all the finishes are excellent, like the ones you’d find in a new condo or luxury rental, said Van Rhyn. People have been a little wary of being so close to the highway, but I think that’s going to change since Carroll Gardens has become such a hot commodity. Think it’s hot enough for a building that looks like this to command these rents?
562 Court Street Listing [Brown Harris Stevens] GMAP
BEWARE …. THIS BUILDING DOES NOT HAVE A C.O. and yet they are agressively trying to rent units. They’vve already accepted money for a unit and tried to move a couple in for Feb 1st (totally illegal)
Very shady operation. Beware.
$3500! This may edge out the patricidal orphan for the new definition of chutzpah.
I’m willing to bet they have not rented a single unit at those prices . . . nor will they, without some gimmick like “first 6 months free & owner pays broker fee” and throws in a 50″ plasma TV.
Come on, now. Then again, BHS is also marketing the unbelievable shitbox conversion known as the Carroll Gardens Atrocity on 3rd & Clinton . . . maybe there is some sort of collective, degenerative neurological disorder in their Brooklyn office?
Don’t confuse the bad design of this place and the Shanggri-La in Greenwood Heights as the leading edge of an impending bust. As anybody with basic real estate knowledge knows, bad design = bad business. New Yorkers who can afford something like this know better. Rightly so, these developers are losing their shirts.
Thanks brownstoner for posting this listing, I now know that I will not be calling brown harris stevens to sell my 2.3 million dollar 2 family house come this spring.
Rent may be a bit high but we’ll see. Check out rents for renovated 2 bedroom in neighborhood and you’ll see floor thru units $2500 at least to $3000.
And the ‘2nd bedroom’ in those are usually quite tiny.
And in brownstoner rentals – you might not hear the BQE – but you’ll hear upstairs neighbor walk around, their stereo and kids running around. New construction like this has concrete between floor – so maybe – just maybe much quieter and more spacious than u think.
This building and others like it are the reason we have a crashing economy. Whoever thought they would be able to get these kind of prices deserves debtors’ prison, not foreclosure.
“That’s an owner so far under water they can’t think straight.”
You’re right on that! A lot of these places were financed in short term deals due to the speculative market, a lot of these developers way overpaid for the land these shoddy creations are built on.
Since the condo market just went “pop” a lot of these buildings are offering as rental units now and the landslide will really come in ’08 when there will be a saturation point.
I don’t blame the developers for trying to break even but then again, that part of CG is way over priced anyway and that’s for all the used houses. I had a friend that lived on 4th St. right near there and she was paying like $2000 for two bedrooms. So these new and “luxury” thing they might just get a little chunk of that so they’ll try and rent them out at near and above what the neighborhood is renting at.
We all know this isn’t going to work and the repo guys will come and foreclose on a lot of these places in ’08 after the rest of the market collapses. The sliding property values will further increase the need to dump these as fast as possible and we’ll see phenomenal decreases then. Right now, there’s a lot of cognitive-dissonance in the market but the reality will soon hit everyone in the face pretty hard and fast.. soon!
As always, the market will dictate the going rate. Sucking carbon monoxide all day must have some value. However, calling it ugly seems a bit disengenous though. Looks much better than the building next to it and probably better than some of the ones you naysayers live in too I bet. I would rather see a fedders box than an AC unit sticking precariously out of a window. The location, well that’s another story.
$3200 what the fuck?! Ten feet from the fucking bqe in a shady area. Rent should be total $1500.