23rd Street Tear-down Hits Rental Market
Remember back in 2007 when we told you about a cute woodframe house at 312 23rd Street that was getting torn down by a developer? Well, its replacement building is now finished and, not surprisingly, the developer has had to abandon plans to sell the units as condos. One apartment is on the market so…
Remember back in 2007 when we told you about a cute woodframe house at 312 23rd Street that was getting torn down by a developer? Well, its replacement building is now finished and, not surprisingly, the developer has had to abandon plans to sell the units as condos. One apartment is on the market so far—a one-bedroom with yard and rec room for $2,500.
312 23rd Street Rental [Corcoran] GMAP
Documenting ‘Tear Down & Build Up’ on 23rd Street [Brownstoner]
Correction: went condo this week, 07.13.09
Is this gonna work?
I would caution any potential renters to talk with renters (and/or owners) of the two other properties on this block (312/313 and 320/321) built by the same developer. The stories are not pretty.
I think that the Corcoran agents who are representing this developer may also want to check out the situation before they jeopordize their reputations.
The only hum on that block is from the Gowanus Expswy and only heard during the winter…DitmasSnark
We have friends on this block and the building is solid, albeit brutally ugly.
This is the same developer that brought you the other 4 condos on the block. Of the 32, I believe only 26 or so actually sold.
And yes, those folks in 313 who had lot line windows were screwed…completely!
The only thing this development has going for it is the cemetery, which is gorgeous year round. It will be interesting if they play the rental game, don’t get their price…then potentially have a try at sales.
And what’s with the odd-ball planter in the front? I know the yard’s text amendments called for green-space, but those look like shipping crates.
Agreed, $2500 on 23rd St., even with a huge duplex (and what’s that crap in the back yard? It ain’t grassy-looking from Corcoran’s photos).
Time will tell. I hope Mr. B follows this one as it will be a good thermometer for new mid-level development in the area.
Half-assed try if you ask me…
I remember looking at a condo unit at the building next door (uphill) about two years ago. I have to laugh because at the time the realtor mentioned that, yeah, the western views were through lotline windows which could be closed in the (extremely unlikely) case that the lot next door was redeveloped. The units were definitely being sold as having good views (and priced accordingly). There were other problems with the building besides the views.
If the quality of construction at 312 is anything like the quality of construction at the neighboring building, then there would be no way that these buildings would sell in this market. I’m not even sure that they’ll rent at this price. Unless I’m wrong, there is a bit of a hike to get to any decent services on 5th Ave.
The one thing going for this street, though, is the vista over the cemetery. I did like the way that the street felt enveloped in green during the summer.
The price is worth it for the privilege of being lulled to sleep by the hum of the nearby electrical substation.
$2500? Considering how little the developer obviously spent building materials (though to be fair, the brickwork doesn’t look so bad), he can easily charge a lot more reasonable rent, say, $1800 — which I still think is generous for that area.
11217 – AGREED!
$2500 for a 1 bedroom on 23rd street???!!!
Laughable.