The Clermont Reborn As Rentals
The 52-unit new development at 375 Myrtle Avenue in Fort Greene known as The Clermont has had a tough go of it. Between opening for business last February and throwing in the towel last month, not a single unit just eights units went into contract. For reasons beyond us, the developers then tossed Corcoran over…
The 52-unit new development at 375 Myrtle Avenue in Fort Greene known as The Clermont has had a tough go of it. Between opening for business last February and throwing in the towel last month, not a single unit just eights units went into contract. For reasons beyond us, the developers then tossed Corcoran over the side and went with an outfit called Ideal Properties to rent the place. There is a new website up but it doesn’t have pricing info, so we went straight to the source. So far, they’ve only released six units: two one-bedrooms priced at $2,100 and $2,200; three two-bedrooms ranging from $2,800 to $3,500 and one three-bedroom for $3,650.
Zoinks! The Clermont Going Rental [Brownstoner] GMAP
The Clermont Condominium Open For Business [Brownstoner]
Streetlevel: Walgreens Signage at The Clermont [Brownstoner]
Development Watch: The Clermont Primps for Pre-Sales [Brownstoner]
Development Watch: The Clermont Revisited [Brownstoner]
Streetlevel: Walgreens Coming to Myrtle Avenue [Brownstoner]
Development Watch: The Clermont [Brownstoner]
New Development at Myrtle and Clermont Avenues [Brownstoner]
There is a sign on the door at Walgreens that says: “Walgreens will be opening soon. Sorry.” Lame.
Revisited the Clermont Condos turned Rentals this weekend. The bamboo floor as well as the hallway carpeting looks cheap to me. For the price it lacks an expensive feel and the Manhattan side views are nothing special although a nearby school will ensure the airspace remains open. The apartments have a washers and dryers. While the building is complete, the inside needs a good cleaning for occupancy.
The agents reported approximately 15 of approximately 52 units would be occupied as of November 1 and the rest hopefully in December. They were only offering one-year leases. The agent said Walgreens was supposed to open Friday but did not.
Per Streeteasy: “Units originally offered for sale are now available as rentals only.”
Did any of the alleged eight actually sell?
11217, you may be onto something here…
Anyone remember this:
“Mr. Butler (READ: THE BRAIN BEHIND BROWNSTONER) and his wife of now nearly 10 years—they met through a Columbia classmate of hers—were hunting in Brooklyn, a borough they’d moved to in late 2003, settling initially in Williamsburg with the first of their two children, now ages 2 and 4. Mr. Butler had spent his entire adult life below 23rd Street in Manhattan (except for one ill-fated year, he said, back on the Upper East Side).
Through a Corcoran Group listing, the couple found a Clinton Hill brownstone for under $1 million. It has five floors, 14-foot ceilings in the parlor and nine fireplaces, none of which work. Mr. Butler explained that the brownstone, at least 130 years old, needed a lot of renovations—it had been an S.R.O. before they bought it—and the fireplace repairs fell beyond their budget.”
Doesn’t seem like Ideal is any great shakes either. The apartments aren’t going to rent at those prices either.
I’ve always had my suspicion that this website was in bed with Corcoran. The “for reasons beyond us” comment pretty much solidified those feelings.
“For reasons beyond us, the developers then tossed Corcoran over the side and went with an outfit called Ideal Properties to rent the place.”
For reasons beyond us? For reasons beyond us? Try: Corcoran mislead the developer into believing that their project would actually sell – they endlessly wasted the developer’s time and showed blatant disrespect for their probably dwindling bank account. As you noted yourself, Corcoran never sold a single unit. Granted, I may be somewhat biased myself since I just rented an apartment from the outfit (idealpropertiesgroup.com) – but at least these people seem to know what they’re doing. I just spoke to my agent – they rented quite a few units at Clermont… Some firms talk, others do.
11217 – just messing with ya… Clermont probably dumped Corcoran since they so routinely overprice things, which does not seem the best strategy in today’s market.