Rental of the Day: 364 Myrtle Post-Scarano Switcheroo
It’s been a long slog for the developer of 364 Myrtle Avenue, the Scarano-designed building at Adelphi Avenue in Fort Greene. The three-units, which range in size from 1,500 to 1,700 square feet, first hit the market in early 2006 as condos asking between $877,000 and $919,000. The prices were too high. After an across-the-board…
It’s been a long slog for the developer of 364 Myrtle Avenue, the Scarano-designed building at Adelphi Avenue in Fort Greene. The three-units, which range in size from 1,500 to 1,700 square feet, first hit the market in early 2006 as condos asking between $877,000 and $919,000. The prices were too high. After an across-the-board reduction of more than 10 percent in the summer of 2006, however, all three units went into contract. And then the waiting began. The unlucky buyers were given precious little information as Scarano’s problems kept holding up the C of O. Finally, last spring, with no resolution in sight, the developer upstandingly let buyers out of their contracts. And now, presumably with the C of O squared away, at least two of the units have resurfaced as rentals, one asking $4,800 a month and the other $5,000. Sound like a reasonable price to you?
364 Myrtle #1 [Corcoran] GMAP P*Shark
364 Myrtle #2 [Corcoran]
364 Myrtle Avenue: Scarano Strikes Again [Brownstoner]
What’s Up With The New Building on Myrtle? [Brownstoner]
Two months later and still for rent…
It should be noted that these rentals have been listed at these prices for at least few months now, so clearly there hasn’t been much interest.
I’m curious why, if they now have their CofO they decided to go with rentals rather than sell them off?
Also, btw, this location isn’t perfect but it’s not bad. A block from the park, will be across from a new condo development, and is within a few blocks of great restaurants. Certainly not worth those prices though.
Worst. Balconies. Ever.
Future Crack House.
BTW The meltdown is going down. RIP Mutant Real Estate Bubble!
The What
Someday this war is gonna end
They are smoking something if they think five large is going to fly in that area. No way.
4:14 – I prefer disirregardless
12:54, you are absolutely right about the bathrooms. Blech!! Cold and impersonal. The addition of personal stuff, towels, etc wouldn’t warm it up either.
No,no, no. Next.
2:46: Irregardless, with its illogical negative prefix, is widely heard, perhaps arising under the influence of such perfectly correct forms as: irrespective. Irregardless is avoided by careful users of English. Use regardless to mean ‘without regard or consideration for’ or ‘nevertheless’: | I go walking every day regardless of season or weather.
So is this building now underbuilt with the new zoning along Myrtle?