Rental of the Day: 190 Washington Park
This is a pretty fancy-looking two-bedroom, two-bathroom rental at 190 Washington Park with great hardwood floors and details. It’s also a duplex, although the square footage isn’t given. Overall, being across the street from Fort Greene Park, near the restaurants on Dekalb and not too far from a good selection of subways sounds like a…
This is a pretty fancy-looking two-bedroom, two-bathroom rental at 190 Washington Park with great hardwood floors and details. It’s also a duplex, although the square footage isn’t given. Overall, being across the street from Fort Greene Park, near the restaurants on Dekalb and not too far from a good selection of subways sounds like a pretty good package to us. Do you think it’s all worth the rent, at $4,500 a month?
190 Washington Park [Corcoran] GMAP P*Shark
Corcoran can usually get some amazing rents, but that price seems a little out of reach unless that brownstone is supersized.
Floorthroughs around there rent for around $2200 so I don’t see the numbers for $4500 but I wish them the highest.
Hi BK couple, I’m the listing broker and managing agent of this property. The apartment may not work for you and that’s totally fine. However, I know that there is no rodent problem.
Saw this place, Terrible layout, bathrooms in the hallways and they have a rodent problem (because of the park). Not worth it at all.
Aw c’mon, AM Luxe! No love for rentals? Can we get a name or alias or something for this duplex? ‘Twice on WaPa’?
Let’s see, 16 x ($4,500 x 2 x 12) = $1,728,000, a little under the going comps for such brownstone sales on the park between Dekalb/Willoughby, no? Reverse GRM looks reasonable to me.
“That’s roughly the monthly payment on an $850K mortgage.”
Not the grand total payment after resale in five years into a -37.5% further decline. 0.375 x 850K / 60 plus say 750/mo maintenance = say $6,000/mo. But in five years, that $850K mortgage will be a $530K mortgage. But more money saved for downpayment by renting instead (no $750/mo maintenance!) so monthly payment less after higher interest rates (yeah, they’re a comin’).
I cram to understand why people scoff at these rents but turn around and pay 16x annual to catch a falling knife. Yeah, $4,500/mo not cheap but cheaper than a realized risk of selling into 37.5% depreciation.
BTW, we’re seeing more and more of these duplexes for rent, often times the owner’s units (brownstone dreams turning into nightmares). Supply, along with unemployment and wage deflation, will supress the rental rates. Good way to wait out the shitstorm.
***Bid half off peak comps***
I agree with 1842 about 3800 or 4000…this location is fab. I’ve lived on this block and I would rather live in this location than almost anyplace in Brooklyn…sorry Slopers…hate if you want.
Time will tell, but I think you guys are way off what you think the rent would be for a duplex two to three bedroom in this location, regardless of the the kitchen finishes. $2800 would be a steal, $4000 seems reasonable (would depend on the size and whether there is a real option for a 3rd bedroom, which would make $4500 possible too imo).
lol @ this:
Well, well, well. Apparently New Jersey residents—or the Bridge & Tunnel crowd, as some people call them when they infiltrate our fair city—have their own derogatory nicknames for out-of-towners visiting the Garden State. According to the Daily News, summer tourists at the Shore are called FOOTs, which stands for “Fucking Out-Of-Towners.” They even have bumper stickers proclaiming “I Ain’t No FOOT.”
you know it wasnt that long ago that all the boroughs except manhattan were considered bridge and tunnel too. i wonder where the tard who wrote this even lives
*rob*
it is literally more than DOUBLE what it should be worth.
newsflash landlords: moonfaces are running out of money!
*rob*
And that kitchen is was just renovated too.