Rental of the Day: 359 Van Brunt Street
Here’s a pretty sweet Red Hook rental for a very reasonable rent. This three-bedroom, two-bathroom place is 2,200 square feet over two floors. It is also boasting a gut renovation, working fireplaces, and an extra 625 square feet of private terrace. Awesome! The rent of $3,800 a month isn’t bad either. And did we mention…
Here’s a pretty sweet Red Hook rental for a very reasonable rent. This three-bedroom, two-bathroom place is 2,200 square feet over two floors. It is also boasting a gut renovation, working fireplaces, and an extra 625 square feet of private terrace. Awesome! The rent of $3,800 a month isn’t bad either. And did we mention that you’ll be living on top of Red Hook bakery Baked? Risky business for anyone with a sweet tooth.
359 Van Brunt Street [Douglas Elliman] GMAP P*Shark
2/3(floors) x $459K(sale price 2004, a price level we’re headed back to)/(3,800 x 12) = 6.7 < 10 (prevaling GRM in 2004ish)
Rent overpriced by (10 – 6.7)/6.7 = 49%. Reasonable at $2,550/mo. $ left over for the median household income (of nabe or tenant pool) to buy a car or two.
***Bid half off peak comps***
That is a lot of space but I really don’t get it. 3800 dollars is a LOT OF MONEY for that transportation challenged area. And it really doesn’t look very nice.
Errrr, rents in Red Hook have been pricey for a while. Where have you all been?
Mopar,
You’re right, but the rent bid curve is out of whack in RH due to the influx of Authenticats. These artsy, bo-bo and trustfunders types are willing to pay out the nose to live historic property in a fringy cool neighborhood. I know of a family paying a king’s ransom to live in an illegal loft without a proper heating source.
yeah my original comment was not bashing red hook, it was about living over a bakery. have you ever seen the movie fievel goes west!?
*rob*
This is a lovely house- definitely no vermin and set up well for a family. And is the price ridiculous? I don’t think so- I think it’s close.
Now, now, let’s not get so defensive about living in Red Hook. The fact is, when you live nearby a food source, vermin will be prevalent. I could not fathom living above a bakery, restaurant or horrors—a grocery store. When they fumigate, where do you think the rats and roaches run??
quote:
annoying courtsians of Fort Caucasian
HAHA!
*rob*
$3800 is reasonable rent for a duplex in Red Hook? Really? In Bed Stuy, this would be $2,000, in Bushwick, this would be $2,400, and in Park Slope this would be….$3800?