Williamsburg Reinvents The Market

Williamsburg Bridge view from Brooklyn

The downfall of the condominium throughout much of NYC during the financial crisis has had its benefits for some. Multiple stalled condominium projects have run out of funding or gone completely bankrupt. However, a few developers have stayed afloat and even flourished in the condo turned rental game. Some of the newest and more popular properties in Williamsburg have been the perfect example for developers of how to play their cards right and still luck out in a down market.

34 Berry

While condo finishes and amenities are nothing new, offering them at a rental price is. 34 Berry, located near McCarren Park, includes a 1,600 sq. ft. fitness center, 24-hour computer lounge and amply spaced indoor parking garage. With a courtyard rivaling that of The Metropolitan, 34 Berry allows for social interaction amongst guests and neighbors. The difficulty with some condominium turned rental projects is restructuring the layouts to fit multiple units as condos tend to have less units at a greater size.

However, with the good comes the bad. 34 Berry's general building layout is described by some as dorm-like due to the enclosed courtyard and numerous studios per floor. What's great for students or artists is not always favorable to families. What the building does have in its favor is that it is a new construction designed by Perkins Eastman versus many area renovations.

The newly built building has at market and a few below market studios starting at $1,700 and 1-bedrooms at $2,150. However, the limited 2-bedroom rentals are priced high at $3,820 for the area. While looking for a Williamsburg steal, studios at 34 Berry provide renters with social amenities including 2 lounges and well priced units for young renters.

184 Kent 

 

The 338 unit building differs in a few categories from 34 Berry. For starters, the studios begin higher at $1,800. However, you get what you pay for since units here are also 15% larger than that of 34 Berry. 

 

With 12' to 15' foot ceilings, over-sized windows and exposed concrete beams the waterfront building is what you may think of when imagining a true loft. Prior to its luxury rental status, the building housed Wild Turkey Bourbon and is now listed as an official historic landmark.

 

Mixing the old with the new, 184 Kent has contemporary interiors by SLADE architecture, teak wood floors and natural stone counter tops. The building includes the standard amenities of luxury buildings but the fitness center and rooftop deck are made even better by the waterfront proximity. Working out might be made a little bit easier when your view is directly of the waterfront and of downtown Manhattan.

65 Ainslie

Kitchen & living space at 65 Ainslie

Ainslie has went for a different approach to set itself apart from area condo turned rental counterparts. Unlike at other buildings, Ainslie residents are met with nothing but convenience and connectivity.

Aware of the busy lifestyles that many of the residents lead, the building offers everything at renter's fingertips. From the Fresh Direct drop-off grocery service in the lobby to fully wired lounge, 65 Ainslie helps to makes your day a little less hectic.

It has a key access lobby, fully furnished rooftop, Manhattan skyline views and IPOD docks in each unit. Ainslie provides most residents with their own French terrace in addition to rooftop access for all 5th floor residents through their own unit.

 The benefits of Brooklyn living just got a bit better. With lower prices, condo finishes and amenities, Williamsburg is raising the bar in a down market.


For information on leasing and pricing contact (212) 202-0721.