Rental of the Day: 343 4th Avenue
Penthouse livin’ at the Novo! This three-bedroom rental at 343 4th Avenue in Park Slope is going to cost you. For $6,250 a month (recently reduced from $6,500), you’ll have 1,180 square feet of space, a wraparound terrace, and all the luxuries of this full service condo building. The interior isn’t anything to write home…
Penthouse livin’ at the Novo! This three-bedroom rental at 343 4th Avenue in Park Slope is going to cost you. For $6,250 a month (recently reduced from $6,500), you’ll have 1,180 square feet of space, a wraparound terrace, and all the luxuries of this full service condo building. The interior isn’t anything to write home about, that’s for sure. But do you think this place’s proximity to 5th and its amenities at all justify the rent? This is the building that sold out at an average of $671 per square foot… so who knows.
343 4th Avenue [Douglas Elliman] GMAP P*Shark
Or to put it another way, $63 psf is a Fourth Ave Grammercy price, not Fourth Ave Brooklyn rate.
Rentals
In Gramercy Park
We found 7 for rent by owner or broker-represented listings with 3 bedrooms
Median price: $9,450 Median size: 2,100 ft² Median price per ft²: $62
Information on Gramercy Park
Rentals
In Park Slope
We found 4 for rent by owner or broker-represented listings with 3 bedrooms
Median price: $4,675 Median size: 1,986 ft² Median price per ft²: $44
Information on Park Slope
Stupid broker either put up the wrong verbiage or the wrong floor plan. I’m going to assume the latter. The ‘B’ line is 1173 sq ft (which is the amount listed on the sidebar of the broker lising – but they rounded it up to 1180 in the writeup). Floors 10, 11, and 12 have two balconies like the FP in the listing. The 9th floor has the wraparound terrace:
http://www.corcoran.com/images/media/ListingFloorplans/1950686.1.gif
1,301 square feet terrace (not the implied 830 sq ft), so nothing about this makes sense. But the highest recorded sale in the building was $800K. 9B sold for $763,687, a discount of -18.3% off the list of $935,000. CC were $530. That puts our broke rule-of-thumb rental price at $2,121 – $2,478.
Well that’s not gonna pay for winters in Tahiti…
The highest list ever in the Novo (never sold) was #8B@ $1.29M / 40 / 12 = $2,687.50. The highest CC/M/T was #7L, @ $983 (taxes = $30 so yeah, its a 421A).
Inflate the price by 170% and voila! PENTHOUSE LIVING baby.
Hm. $6,250 in rent would justify a purchase price of about $1.3mm, which would in turn justify $6,250 in rent. They should ask for more rent so it goes up in value.
dont give a s–t about the size. $6000+ to live on 4th frigging avenue?! All the charm of highway living on the banks of the Gowanus….totally insane
I wanted to buy something in that building .Isn’t it the Novo?
BoerumHill,
I’m certainly not perfect, but it’s easier for you to sit there and blow off steam in a comment thread than it is for me to work hard and blog all day at the pace blogging requires.
All things aside, it’s fixed.
The floorplan on the broker’s site shows two small balconies, not 2000 sq. ft of wraparound terrace.
broker fee? take this baby instead:
http://img.streeteasy.com/nyc/attachment/show/484685.pdf
JFC Emily
Can you even get the simple stuff correct? From the listing:
“1180 square feet interior. Three bedrooms, two baths with 2,000 square feet of wrap around terrace”
You’re horrible at this.