564-566 Sterling Place

eastbloc · February 2012

This is the pair of presumably ex-parish multi-fams that has recently undergone renovation. I'm seeing Myspace marketing them as two-beds @ $2600. I sent a friend over and from what he said the two-bed is maybe 600-700 square feet with a sliding door separating the ostensible living room into a second bedroom.

Now, I haven't been there, but if the story checks out, that makes them $3.85-$4.33/square foot -- a fair bit above a prime Park Slope rental!

Has anyone been to one of these units? What's the story there?

samuelcole · February 2012

I went. Way over priced, and insane that they can get away calling those things two bedrooms.

It does sound like they're going to add a lot of yuppie 'features', though.

joebrooklynian · February 2012

Looks like a total of 16 units:

http://www.loopnet.com/Listing/17127112/564-566-Sterling-Place-Brooklyn-NY/

eastbloc · February 2012

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=2&passjobnumber=320324136&passdocnumber=01

5700 square feet of residential is what they were approved for after the extensions were put in. That's 712 square feet per apartment, not factoring in things like walls and hallways, or $3.65/square foot or more.

Amazing.

whynot_31 · February 2012

So, how quickly do we think they fill?

Small, two BR apts just off Franklin for $2600. New appliances.

eastbloc · February 2012

They'll fill it no problem but for maybe $2000 each. The reno isn't done yet, and they're not losing anything by testing the waters with that asking price.

whynot_31 · February 2012

Do you know if this building was vacant before the Reno?

Or, was it vacated to do the Reno?

I'm just trying get a sense of how many of these bldgs weren't used at all before the current real estate boom.

whynot_31 · February 2012

I answered my own question: These buildings were long vacant while the church figured out what to do with them.

An ad for the properties on Myspace:

http://myspacenyc.com/luxury-2br/

eastbloc · February 2012

Yes, they were long vacant, along with the building next door which is also being renovated. Further up the block, our townhouse and the one next door were also vacant for years before we moved in. So that makes five vacant, unused buildings on this stretch of Sterling alone that have been put back to market in the last two years.

For what it's worth, I know of at least three buildings on the block that were occupied when renovation began. For one of those, I know some residents were relocated for the duration of construction and given the option to continue their lease at their previous rent (which was subject to rent control).

564-566 Sterling Place

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