Rental of the Day: 230 Park Place
This one-bedroom at 230 Park Place is nice enough, but it’s the location that’s the real selling point for us. Situated between Vanderbilt and Flatbush, you’re a few blocks from the park and the 2/3/4 subway lines, not to mention a half block from the B and Q trains. You’ve got easy access to both…
This one-bedroom at 230 Park Place is nice enough, but it’s the location that’s the real selling point for us. Situated between Vanderbilt and Flatbush, you’re a few blocks from the park and the 2/3/4 subway lines, not to mention a half block from the B and Q trains. You’ve got easy access to both Park Slope and Prospect Heights as well. With that said, $2,500 isn’t cheap for a one-bedroom apartment without much sex appeal, although this looks big and has an office. Think it’s worth it?
230 Park Place [Brown Harris Stevens] GMAP P*Shark
No, I really meant mean, because that’s the measure given by the report you linked. I think they picked mean because it would be the highest of the three, between average, median and mean. And my friend wasn’t renting for 8 months only, the landlord was offering a new lease. I’ll give you that the place probably wasn’t marketed as well as if an agent had done it. I know it’s hard to believe, but rents in Manhattan are down to 2000 level, adjusted for inflation. Brooklyn on the other hand, especially Brownstone Brooklyn, has been remarkably resilient, as the “hot” neighborhood for the young and the hip.
I think the 4 still stops at GAP on the weekends.
Also worth noting that this is not a rental building, but a co-op that allows some subletting: for some renters, that’s a plus. I still regret that I couldn’t afford the 1BR I looked at there: it’s a really nice place, if pricey even for the neighborhood.
I’m not overlooking the difference between median [which is what I think you intended to write, not mean] and average; I specifically cite that difference as a weakness of the report I linked to. But I’m not sure I’d give a lot of consideration to one anecdote regarding a friend who was trying to rent his apartment for the last 8 months of his lease (a situation a lot of potential renters might not want to deal with — and who knows how good your friend was at marketing his place). I think if you went searching for a true 1BR in a well-located doorman building in a decent neighborhood of Manhattan with a $2500 budget you might get lucky but more likely you’d end up frustrated. E.g., according to one of those StreetEasy mini-tables, the *median* price for all 1BRs on the UES (including far-east Yorkville, and including NON-doorman buildings) is $2900.
lots of closets, but i do see a lot of wasted space there. ie: gallery, dressing room
WTF do I need a gallery for? the kitchen is way too small…….
Fabulous location, but the 4 train hasn’t stopped at Grand Army Plaza for years. Nearest 4 is at Franklin Av.
You are overlooking the difference between mean and average; the mean is skewed by luxury rentals, especially in Manhattan, which has very, very expensive, full-service, high-rise rentals.
Besides, who’s arguing? I’m giving you recent anecdotal evidence of the going rate for this kind of rental. You don’t believe? Fair enough. I don’t think my friend would have passed an offer to rent his place for $2,800. Most offers came at $2,500 or under, and he took his best offer, as he was getting ready to move to his new place. I think his apartment and this place are quite comparable; nice enough, large, pre-war 1-bedroom apartments.
“THE RENT IS TOO DAMN HIGH!”
Heather, nice legit 2 bdrms in our hood can be had for 2500 or less.
Maly: Why argue over something that can actually be looked up?
http://www.tregny.com/pdf/market_report_sep_10.pdf
(This rental market report has its issues, granted, including that it seems to use means instead of medians for all/most of its data. But even Murray Hill is running over $3k on average for a doorman 1BR.)