building at 229 North 8th Street

The rents are pretty insane. I've seen other condos at similar asking prices that went rental asking for about $400 less per month

LOL

"It's official they went Rental; Market Correction cometh."

Does anyone know how long this building has been on the market? The location was great and I actually liked the low amount of amenities with the low CCs.

It wasn't on the market very long, only since early June. It looked like they had a few offers on 5 or 6 units, but hitting 50-70% on 40 units in a reasonable amount of time probably looked daunting in this market. Take a look at 90 N. 5th St, as their maintenance is reasonably low and I like the location although they do not have 1 BR's. They only have 23 units with 6-7 offers accepted. NV condo (101 N 5th) across the street has similar layouts as 229 N 8th but a little pricier (only 2 1BR's left) and higher maintenance. But they claim to be over 70% under contract and they have been closing since June.

Also look at 268 Wythe. Very low maintenance. Prices are higher , location is debatable, only one unit under contract. I like the layouts.

I like 268 Wythe too, but the maintenance is so low since not much is covered by it.

dirtyrotten, can you provide evidence of other condos with rents $400 less? i know some places around south williamsburg that offer 2 beds/1bath for around 2800. this location offers 2 beds (from the one that i saw) for 2911, but it includes a second bathroom, outdoor space, laundry, and the media/gym room. i don't think that's above market by $400.

I was referring to the 1BRs. They are asking for $2500+/month. I'm not saying its above the market. Williamsburg 1BRs are all about this price. I was just comparing to other condos that went rental that had similar asks.

For example, they were asking for 470k+ for the 1BRs originally. Viridian (the overpriced Greenpoint condos that went rental) were doing about the same. Viridian, however is asking for $2100/month for the 1BRs. I know its not the same neighborhood, I was simply comparing asking price of the condo to asking rent.

dirty, you know, after further review, it looks like only 1 of the 2-beds there is $2900. the rest are around $3300+ i agree, a bit above market.

Do you have a link for the rental listings

hillarious...i took a look at the 229N 8th st. condos a month ago and the realtors were talking like the units were going like hotcakes...then they go rental a week later. Gotta love these guys.

They said the same thing to me. I've always thought that aptsandlofts are especially sleazy.

Has anyone on this board moved into this place or know anyone that has? I wanted to refer this place to a friend of mine, but i've heard other post condo, now rental, buildings, have egregious terms in the lease like providing 10 days notice if a person (other than the renter) purchases the unit, and other assenine terms. thoughts from anyone living here would be appreciated.

I'm thinking about renting there. great location and sunny - crappy finishes but I'm thinking short term. It's only half rented - is this going to be a problem?