Vacant lot on Sterling between Washington and Classon
Comments
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It's all good. ; )
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The sign on the front says the building will not be complete until February 2015. Based on the progress they've already made, I'd have to assume the building will be finished much, much sooner than that. Would also really love to know what rents will be in here.. the $3500 2BR is seemingly becoming fairly common in this neighborhood.
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They had originally said June 2014, and I thought they looked on schedule for that. I also heard $60/sq. ft. So, that's $4500/month for a 900 sq. ft. apartment. That seems steep to live in a sub-par school district right next to a chop shop.
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Not everyone has kids.
Not everyone views the school district as subpar, or staying that way.
They might get $825 a sf. if they go condo.
Scaffolding gone:
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That's about what 475 Sterling is fetching these days.
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They still need to do all of the interior work.
I'm thinking the units will be ready for occupancy in October 2014, if they keep up their present rate if progress. -
I hope the building on Sterling near Nostrand looks this good, if we have to accept these large masses.
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I'd like to be the owner of the garage to the right of this building.
When he sells, he will do very well. He will either never have to fix car again, or (if he is merely a landlord) never have to be the landlord to an auto shop again.
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The two auto businesses that occupy the buildings between this one and 476 Sterling may be on borrowed time, but it all depends on whether the real estate company that owns the building can get the land rezoned from industrial to residential. The various community boards and the city council regularly shed crocodile tears for the loss of blue collar industry, so may block the rezoning. I think that the city needs auto shops, but I am not sure how and where to place them, people don't want to drive a long way to get their car fixed, but it becomes increasingly difficult to justify single story development in a city still claiming to suffer from the post-World War II housing emergency.
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I'm ok with East NY and Foster Ave becoming filled with auto shops.Electrical and plumbing contractors are now regularly on site, and 24 hour guard is on hand to protect all of the hand tools.
The apartments have most of their finishes in place. -
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How valuable is parking? Valuable enough that they installed those racks that let you park one car underneath another.
Look closely, down the ramp:
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I noticed that, as well. I'm wondering if the building will lease the lot to a private parking company. It doesn't seem possible for residents to get their car without an attendant.
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Parking is all the more valuable given the DOB regulations that require some proportion of units have parking allocations.I wonder if doubling up on spaces vertically may help fulfill that requirement somehow even if they're not practically usable.
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The building might have met their parking obligation via the regular spaces, and could be using the elevated spaces for additional revenue.
The arrangement seems to require that someone (the super?) have access to all of the vehicle keys, and that residents relegated to the elevated spots be patient before they get access to their cars.
Quick trips to Fairway seem problematic. -
Listings have been posted:
www.brownstoner.com/blog/2014/06/listings-are-up-for-crown-heights-building-on-sterling-place/
The building's website, 500sterling.com, refers to the area as a "new neighborhood." SIGH. -
"Studios start at $1,999, one-bedrooms at $2,499, and two-bedrooms at $3,100. There’s also a one-bedroom, 1.5-bath duplex with two balconies asking $3,425, and a two-bedroom, 2.5-bath duplex with two balconies for $4,330."
Those units are about as expensive as I thought they would be.
Not big either. -
detailed prices and availability are now posted:
http://500sterling.com/availability.php
It looks like all of the apartments that are listed are staged. -
Those are huge prices. Is parking included.?
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I believe that is extra. There isn't a spot for every apt
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Move ins have begun.
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Yup. I suspect the building at 341 EP is doing similarly well.
I expect the apartments to turnover about once every three years, 33% a year. It will be filled with young people and others in transition.
IKEA furniture seems a good bet. -
A profile of one of the tenants:
http://www.nytimes.com/2014/08/31/realestate/a-brooklyn-apartment-search-ends-in-crown-heights.html -
The next tenant could be you....
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"CROWN HEIGHTS—500 Sterling Place, the Adam America-developed 77-apartment building between Classon and Washington avenues, is now over 75-percent leased. The only remaining apartments are studios starting at $2,122 and two-bedrooms starting at $3,194."
http://ny.curbed.com/archives/2014/10/06/luxury_rentals_in_clinton_hill_500_sterling_place_75_leased.php -
The last 25% are almost gone:
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This thread is now closed.
This discussion has been closed.
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