The Novo Going (At Least Partially) Rental?
Despite the fact that it ain’t much to look at from the outside, sales at The Novo were going okay, we thought. According to Street Easy, 58 units—or roughly half—are in contract. Sales must not be happening fast enough though: In recent days, rental ads have started popping up on Craigslist. The two we’ve seen…
Despite the fact that it ain’t much to look at from the outside, sales at The Novo were going okay, we thought. According to Street Easy, 58 units—or roughly half—are in contract. Sales must not be happening fast enough though: In recent days, rental ads have started popping up on Craigslist. The two we’ve seen are touting a two-bedroom for $3,500 and a one-bedroom for $2,200. What does this mean for some of those other Fourth Avenue projects currently in the works?
Oh, Novo: Scaffolding Collapse on Fourth Avenue [Brownstoner] GMAP
Man on the Street: How’s the Novo Look to You? [Brownstoner]
Agreed on the rent, not too bad against what’s in the market. I can see this working for people with small kids too (proximity to JJ Byrne, within PS321).
That is why I would never buy into one of these new buildings, I would be PISSED OFF if my building turned into a rental.. Can any lawyers chime in here?? Could you sue?
Oh no, here we go again. Another drag-down of condos, on 4th ave and in general? Doesn’t anyone have anything better to do or say? Yes, condos suck, we know it already, blah, blah, blah.
This repetitive ranting must some form of self-esteem therapy for some people with issues out there.
And don’t worry, I don’t have any stake in any of these buildings.
$3500 for 2 bedroom is not too much – it’s in 321….and it’ll be new everything. easy to move into, etc…
12:23pm. You’re not making any sense. Flexibility to rent out is one of the very reasons why people like condos. Co-ops don’t let it happen, along with many other restrictions. As someone who has lived in a Brooklyn co-op for four years (which still has sponsor-owned rent control units from the ’80’s!) I can’t say that co-op living has been a dream. My wife and I would love to be able to move to a larger place, but hold on to our 1-bed and rent it out. But we can’t. Everything has its costs.
the sheep is such a mecurial animal.
I would hope the buyers could bail now that half the place is up for rent.
I’d be PISSED!!!
And for all those that talk sh*t about Co-ops and tout Condos as the best thing since sliced bread…here is a PERFECT example of why I am so happy I live in a co-op.
That place is going to look like shit in 5 years.
Even more than it does now, it that’s possible.
Wait till BelTel, Oro, Forte etc all start renting out the half they haven’t sold… And it iwll be soon.
3.5K for a 2 Bedroom? That is about 1K more than what can be obtained further east. I see 1 bedrooms listed for under 2K. Seems to me a strecth. Some renters would need to chime in and explain what would draw them to pay a thousand more a month for a rental apartment?