Flood of Rentals in Brooklyn Coming Online

This is likely going to put a serious crimp in that "I'll just rent my condo out until I can sell it for more later" idea.

they will sit empty at those prices. Brooklyn is not Manhattan and it should be priced 15 percent lower. These prices are the same as the UES and FIDI.

Remember NYC 1991! not long now until $1500 2 bdrm rentals in brand spanking new bldgs start the migration going the other way, and then how does manhattan LL compete?

6 months free? Free dog walking? Free Yankee tickets? But RE is local, no? Howz does Brooklyn affect my castle in cpw and 67th?????

Let me be the first to call a bk for one of these rentals before all is said and done.

to add Crains forgot the 2 buildings on Gold being finished by the same developer. Those 2 buildings are another 500 rentals coming online for Christmas. What are those buildings called?

257 and 277 Gold. Come on Crains do some research

I wonder if these high rise units will end up costing less to rent than old-fashioned floor-thrus?

I am thinking of the traditional type of apt in townhouses and in small old fashioned apt buildings.

Theoretically the high-rise rents would be higher because they have lots of modern amenities. But on the other hand, there are zillions of high rise units available and only a limited stock of old fashioned floor thrus.

I would move back to Brooklyn for a good floor thru at the right price but not for a high rise. Not my idea of cozy.

love seein all the supply. the scary thing is that even with the lower prices, the demand still wont be there becuase the job market is so bad.

Graffiti these buildings are going to kill the rental market for floor thru's in Brooklyn. Of course a new building will command higher prices then a walkup with no amenities. Its a no brainer.

"Of course a new building will command higher prices then a walkup with no amenities. Its a no brainer."

Not necessarily. Some people HATE high rises, regardless of the price. Maybe I'm in the minority, but if I have to take an elevator, I'm probably not going to like the place.

So that is about 2000 new rental units, not counting any new condos that may be rented? Bloodbath.

Malthus this is a well deserved bloodbath. The question is what price will they have to charge for a 1 bed to fill it up? My guess is 1500 for a 1 bed and people will live here

"Not necessarily. Some people HATE high rises, regardless of the price. Maybe I'm in the minority, but if I have to take an elevator, I'm probably not going to like the place."

Some people like volkswagons more than ferrari's, too. But pretending that is going to make the former more expensive...

That's one question. Another question is how much this spills over into other neighborhoods.

I don't like high rises either, but now that I understand that these towers represent the Ferraris of NYC living, I might need to take a look.

No studio in Fort Greene is worth $1700, particularly in this market.

Drop the price by $1000 and maybe you're in the ballpark.

anybody who says they would rather live in a walkup over a full service building is a bitter landlord who owns a townhouse with walkups!

i think you can depend on these prices dropping.

257 and 277 Gold was missed by this article. If you go to the website they are already offering 1 beds for 1500.

"anybody who says they would rather live in a walkup over a full service building is a bitter landlord who owns a townhouse with walkups!"

Heh, seriously? Do you really believe that? We live in different worlds. I can't stand doorman buildings- other than accepting UPS/Fedex packages, they are worthless (to me). I'm not a landlord, and I'm not bitter... I just prefer walkups.

I smell a bitter townhouse landlord

I had a homeless guy tell me he liked old stale food.

I'm sure people have preferences one way or the other, but there's a large group of people who would live in either a high-rise or a walk-up, depending on price, location, etc. That means over-supply in one asset class have to affect the prices of the other.

I'd love to own a townhouse. And, I wouldn't mind being a landlord, although I don't really have the inclination (or, the money).
I'm only pointing this out to note that samadams is obviously an idiot.

"Heh, seriously? Do you really believe that? We live in different worlds. I can't stand doorman buildings- other than accepting UPS/Fedex packages, they are worthless (to me). I'm not a landlord, and I'm not bitter... I just prefer walkups."

Completely agree - and with a virtual doorman, you can get packages without having an actual doorman in your building. Most people, if given a choice, would probably choose the doorman building, but that doesn't mean there isn't a large contingent of people who wouldn't. Unfortunately, samadams only sees the world through tiny lens made in the Revolutionary Era.

broadwayron it is one thing to prefer not having a doorman but i can assure you that you are the only Jacka$% on the Eastern seaboard paying a premium to live in a walkup. BWHAHAHHAHAHAH

samadams, non-doorman buildings are generally cheaper. Not sure what your point is.

hey stupid you should try reading the entire thread before you write dumb stuff

samadams, maybe you should think about what you wrote then: "i can assure you that you are the only Jacka$% on the Eastern seaboard paying a premium to live in a walkup." What's the premium exactly?

samadams, maybe you should think about what you wrote then: "i can assure you that you are the only Jacka$% on the Eastern seaboard paying a premium to live in a walkup." What's the premium exactly?

"Heh, seriously? Do you really believe that? We live in different worlds. I can't stand doorman buildings- other than accepting UPS/Fedex packages, they are worthless (to me). I'm not a landlord, and I'm not bitter... I just prefer walkups."

Sounds like folks are confusing two issues. Doorman, you might want, you might not. Annoying, I know, but there are some benefits (deliveries, etc). To each his own, pick what you want.

But non-doorman <> walkup.

Plenty of nice elevator buildings with no doorman.

I've had all variants, and there are pros and cons to most of 'em, but walking up a few flights is only a pro if you want exercise.

Look at what we're seeing in new buildings in "not great" areas of Manhattan (like the stuff on West 38th St). I don't think it's possible that people (in general, obviously there are some people who really want Brooklyn and wouldn't consider Manhattan) will find any of these Brooklyn buildings to be worth more. Having this HUGE number of VERY high priced units (relative to what the vast majority of existing stock is renting for in those neighborhoods) coming on the market all around the same time, i can't imagine there isn't going to be a very large crater of one sort or another (possibly even a mushroom cloud or two).

I hear doorman will step in if a fight breaks out in a racially charged way... for that I'd pay for the doorman.

in DT Brooklyn I can see that happening W67th.

bump

In a non-doorman building with an elevator, can't one walk up voluntarily?

more falling dominos . . .

> In a non-doorman building with an elevator, can't one walk up voluntarily?

Yes, because there is no doorman to tackle you.