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970 Kent rundown

The Developers Group has been marketing the condominiums at 970 Kent Avenue and from the looks of it, has sold every single unit, save the penthouses, which have recently been put on the market. Located in Clinton Hill, this project is 2 blocks east of Pratt, down the block from public housing, a few blocks west of Hasidic Williamsburg, and in our opinion, far from being in an ideal location. Unless, that is, you work at the Brooklyn Navy Yard.

What has caught our eye, though, is the recent glut of units that were put on the rental market (and one on the resale market). Obviously, this building was the target of many a speculator/investor who planned to purchase the units and immediately rent them out. Conceptually, this does not lend itself to the best situation, as one would wish all the units were owner-occupied. In practice, this never happens.

There are 2 units for rent on Corcoran, both 1,000-some-odd square feet for $2200. There are also 2 units for rent on Elliman, one a 1226 square foot asking $2700 and one 1,013 square foot studio for $2200.

Ostensibly, there are many choices for the renter who wants to live at 970 Kent.

There is also one resale listed by Jerry Minsky for $449K.


At March 29, 2006 9:38 AM, Anonymous Anonymous said...

frankly, this building is ugly and is in a crappy location, down the block from the pjs..

and what's with those air conditioners. couldn't they spring for central a/c? not a true luxury building by any means.

those rents are just outrageous.

At March 29, 2006 7:13 PM, Anonymous Anonymous said...

the last comment is so totally off the mark. these are really nice condos especially the side of the building that has long views for miles. Not top, top, luxury but for the price (2 years old at this point) you couldn't ask for more as a pre-construction deal. There's over 100 units in the building and so seeing 5 or 6 for rent is no big deal. it's just that they all came on the market at the same time. This is also an up and coming neighborhood despite the projects which are actually of a higher caliber. Word is that they will be turned into co-ops.

At April 05, 2006 1:49 PM, Anonymous Anonymous said...

> Word is that they will be turned into co-ops. that what the developers group told you?!?!?'ll serve you right to have listened to a broker like that.

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