220 Water
Started by Apt1613
about 13 years ago
Posts: 0
Member since: Mar 2013
Discussion about 220 Water at 220 Water Street in DUMBO
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After sitting on the market for months, some of these rental units are taking $500/month increases with a new brokerage. Very bizarre.
The potential Manhattan views are obstructed by a building in front of 220 Water that is taller.
The reason is, it's DUMBO, and DUMBO is off the starts right now.
Sorry I meant off the charts. Whatever.
Yep, to live without any "neighborhood" amenities, i.e. supermarket, with only a single transit option and well, Vinegar Hill nearby (which isn't at all nice or safe imo), these are not good value apartments. I rather have less space, but in a better neighborhood.
Does anyone know why they are advertising some of these units as RENT STABILIZED? They seem to be well-above the $2500 it takes to become de-controlled. Is there some sort of subsidy or tax break that makes these stabilized?
The landlord gets a J51 exemption, so pays no RE taxes. It ends in 14 years or so. In return, the apartments are stabilized.