Ungrand on Grand: $2,200 a Month for That?
We’ve been watching with a mix of horror and resignation as this build has gone up over the past year. No point in belaboring its aesthetic shortcomings, though it never ceases to amaze us how developers persist is picking such butt-ugly types of brick. Now it will be interesting to watch as these 650-square-foot one…
We’ve been watching with a mix of horror and resignation as this build has gone up over the past year. No point in belaboring its aesthetic shortcomings, though it never ceases to amaze us how developers persist is picking such butt-ugly types of brick. Now it will be interesting to watch as these 650-square-foot one bedrooms rentals languish on the market at their monthly asking price of $2,100 to $2,200. With similarly sized one-bedroom brownstone floor thrus in the area renting for $1,400 to $1,500 a month, it’s hard to see where the demand for these soulless places will come from.
309 Grand Avenue [Prudential Douglas Elliman] GMAP
They rented very fast. One day a couple of apartments seemed occupied, and within a week or two they all were.
This is on Grand Ave., between Lexington and Greene. Almost all of the surrounding buildings are residential. There’s one old 2-story building across the street that is some kind of telecommunications business. I think it’s used as a warehouse and office. No noise, not much traffic except for the UPS truck blockng the sidewalk once in a while. But it’s a very nice block.
a clean, new, modern apartment with above average finishes is now an “atrocity”? you can quibble with the price, but this statement is laughable.
“Maybe Pratt brats will snap them up using Daddy’s credit card. ”
As a Pratt Grad that paid my own way though school with: Grants, Scholarships, Working Part Time and a huge Student Loan; I strongly object to that comment.
I also did not grow up in a “McMansion”, but in a 150 year old house.
These prices are what Two Trees is getting for 1BRs in Dumbo – without the den. Conclusion: A little high but they’ll probably get it given the low rental inventory.
Seriously, you can’t get a 4 br in Bushwick for less than $2K, so how is the different. Same price for a smaller place, better area, and brand new. Isn’t it an either or situation.
I was thinking of IKEA for tenants but I’m not sure how well they will hold up.
From what I can tell the cabinets look similar to the ones in the rental I live in, which are from IKEA. I am not a big fan of IKEA generally but I have to say my cabinets are very nice looking and I think they come in a lot of different configurations (I have corner below-counter cabinets, very deep but with lazy susans inside so one needn’t overturn everything in the search of the little-use cake pan in the back. My upstairs neighbors have them in a darker color which is very nice as well.
My dad was one of those “new is always good, old is always bad” types. I guess that’s why I love old houses so much- I hated “new.” For some people quality = newness. And they also use “luxury” finishes. The stone/marble tile, the granite countertops, the stainless steel appliances. The rental market is nearly as much about the psychology of marketing as it is about real estate. There are times I think I would gladly trade my limestone apt for a great kitchen….naaahh. I grew up in little boxes and I’ll never go back. 🙂
Wow. Maybe I am not charging enough for my apartments. Is it possible that people are looking at these atrocities with different eyes than I (we) have? I wonder what the acoustics are like? What is the attraction? The newness? That everything supposedly works? By the way, is the Fort Greene/Clinton Hill rental market going up in any significant way? Last year after Katrina, I was freaked out about the possibility of bank breaking energy prices. Thank God for the warm winter. This year gas prices are down from last year but still up over the longer term. We don’t want a cold winter. Building materials are up, energy prices up, taxes up (a little); interest rates up (on those HELOCs..). What are the prospects for rents?