Parking lot on St. John's to become apartments

Are they smaller and more pricy than 341 EP or the Dean (dean and franklin) and other similar buildings? Are they, like most buildings, offering free months rent?

Six weeks free on a one-year lease. Eight weeks free on a two-year lease right now. Can't speak to the other buildings. Haven't toured them. This one was mostly a construction zone too. Will be a hot mess for month's to come, so you're moving into a construction site. Most of the two-beds were 600 square feet or so.

The first tenants have already moved in. It looks like the building had about 5 apartments with people "home" tonight as I walked by.

Open houses are this weekend. ...Let's see if they can get it fully leased by June 1

Building looks nice, but unless desperate L train shutdown refugees suddenly start flooding the Franklin Ave market, I have a feeling they're going to have a tough time selling these apartments - not at the high prices they're asking. There's not even a place for a TV.

prices: https://streeteasy.com/building/olmstead-brooklyn#rentals

Good luck with that. As I mentioned, we toured the apartments. So, so, so, so, small. Had to stifle the urge to laugh when they stretched their arms out to show us that a bed could, indeed, fit in the bedroom.

not really sure who's gonna be clamoring to pay manhattan prices for manhattan sized apartments pretty deep into brooklyn

Brooklyn now has enough jobs that many people are simply commuting within the borough. Hence, they don't see Crown Heights as an inferior location

Or, if you work in Wall Street, it’s a pretty great commute. Easily twenty minutes door-to-door.

whynot_31 said:

Brooklyn now has enough jobs that many people are simply commuting within the borough. Hence, they don't see Crown Heights as an inferior location

True, and FWIW, similar luxury buildings in Williamsburg have been charging close to these prices for nearly a decade. But when you can get twice the space for 30-50% less just one express stop away around Utica Ave, you have to wonder how much people are really willing to pay to live next to Barboncino.

While some may be paying to be near Barboncino, others may be paying to be away from the equally symbolic Rent A Center. https://locations.rentacenter.com/new-york/brooklyn/263-utica-ave/

If this Reddit thread is accurate, sounds like this place is off to a rough start: https://www.reddit.com/r/crownheights/comments/7igjuy/is_the_olmstead_brooklyn_apt_building_a_scam/

Ahhh the *age old* problem of signing a lease before a building has a C of O

Marco555 said:

Or, if you work in Wall Street, it’s a pretty great commute. Easily twenty minutes door-to-door.

Agreed - I work downtown and get there in 15 minutes on the express 4/5 train at Franklin. Great location.