Comment of the Day: "I can’t speak for mom &... - NBC New York

Comment of the Day: "I can’t speak for mom &...

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    NEWSLETTERS

    "I can’t speak for mom & pop townhouse owner, but Brooklyn’s institutionally owned/managed properties (Archstone on Montague and Two-Trees) are offering generous concessions to maintain occupancy. There are nice apartments sitting on the market for more than 30 days. In Williamsburg, owners of failed condos are struggling to figure out how to price their units, which tend to be large, and make inefficient rentals. $40/foot is achievable for a 650 sq ft one bedroom ($2,166/mo) but it gets expensive ($4,000/mo) for a typical 1000 sq ft condo floor plan. Despite it’s superior location, the Forte is going to have the same problem. I looked for a rental in Bk for a while before settling on the UES…where is got a great deal and don’t have to cross the Hudson." [Brooklyn Rents Falling?]

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