Zoinks! The Clermont Going Rental
It ain’t the first and it sure as heck won’t be the last. The Clermont Condominium, the 52-unit project that opened for business back in April is packing it in and going rental, according to industry sources. In a declining market, the attractive but not particularly sexy building evidently had a hard time competing against…
It ain’t the first and it sure as heck won’t be the last. The Clermont Condominium, the 52-unit project that opened for business back in April is packing it in and going rental, according to industry sources. In a declining market, the attractive but not particularly sexy building evidently had a hard time competing against some of the higher-profile projects in Fort Greene and nearby Downtown Brooklyn. While the developers can’t be too psyched about the change in direction, we suspect they will find strong demand from renters. While the Myrtle location might have given buyers pause, there’s gotta be plenty of young professionals and even wealthy Pratties for whom this location will work perfectly. No word on rental pricing yet.
The Clermont Condominium Open For Business [Brownstoner] GMAP
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]
for every condo building that goes rental – i cheer. it’s going to diminish supply while still gentrifying that area.
it’s a win win situation if you own in that area. Your place gets more valuable while the neighborhood improves.
When someone’s whole life is centered around hoping for a Walgreen’s that person ought to rethink the big picture.
…and the trend continues. More inventory, lower rents. See my comment in Thursday links about rents dropping.
yeah, who cares about prices, own vs. rent. WHEN IS THE WALGREENS GOING TO OPEN ALREADY?????????????
I think there was a sense in the market place that the developers did a cheap job on the property, opting against high end amenities and finishes. To be fair, I think that approach was reflected in the prices, which were a lot lower than Forte, Oro, Toren, etc. It will be interesting to see what happens with the Absolute up the street.
It’s not surprising that no one bought these apartments. When I went to the open house I thought it was completely crappy. The doors didn’t open right, the stupid bookshelf island facing the living room, the odd bathrooms.
Wow! I was wondering how the sales were going over there. Makes much more sense as rentals given the location and lack of convenient subway access.
When is that walgreens gonna open?!?
Prices?