Work at 834 Sterling Place

ACRIS can be 4-6 weeks behind actual closings. 

Isn't it possible that some purchasers bought their apartments only as investments, and are renting them out until they sell?

But 7 units wouldn't typically come on the market on one day if these were all separate investors.  More likely these are sponsored owned units.

We looked at the building earlier this summer, and at that time the developer said he was planning to keep a few units to rent out.  7 is more than "a few," but this would be in line with what he told us. 

According to Streeteasy, the sponsor has already rented 7 and currently has 7 more on the market for a total of 14.  Seems nowadays that owners think Crown Heights is the next new "thing" and are increasingly uninterested in selling anything.  

Pity the poor condo buyer who has the same idea!

I suspect the folks who are renting out their units are part of Hello Living's Owner's Club.

If I understand it correctly, you buy a unit for cash long before it is built. 

Few "regular people" have that kind of time or cash to invest for such a time period.   As a result, it sounds like an excellent investment for an LLC or REIT.

http://www.brownstoner.com/blog/2013/09/hello-living-pre-sells-apartments-at-one-of-its-plg-developments-still-under-construction/

Capt-
You could benefit by putting some of your cash into a REIT.   They are not that expensive.

Here is a short video that discusses how the founder of Hello Living got into the business:

https://www.facebook.com/helloliving/videos/10153164771613779/

While this ad says the building is in Greenpoint, it actually advertises units at Hello Sterling in Crown Heights: http://www.elliman.com/new-york-city/sterling-place-brooklyn-wvhyrdq

Apparently, there are still units for rent.    ...were some of the units purchases only to then be offered for lease?