The Clermont Reborn As Rentals
The 52-unit new development at 375 Myrtle Avenue in Fort Greene known as The Clermont has had a tough go of it. Between opening for business last February and throwing in the towel last month, not a single unit just eights units went into contract. For reasons beyond us, the developers then tossed Corcoran over…
The 52-unit new development at 375 Myrtle Avenue in Fort Greene known as The Clermont has had a tough go of it. Between opening for business last February and throwing in the towel last month, not a single unit just eights units went into contract. For reasons beyond us, the developers then tossed Corcoran over the side and went with an outfit called Ideal Properties to rent the place. There is a new website up but it doesn’t have pricing info, so we went straight to the source. So far, they’ve only released six units: two one-bedrooms priced at $2,100 and $2,200; three two-bedrooms ranging from $2,800 to $3,500 and one three-bedroom for $3,650.
Zoinks! The Clermont Going Rental [Brownstoner] GMAP
The Clermont Condominium Open For Business [Brownstoner]
Streetlevel: Walgreens Signage at The Clermont [Brownstoner]
Development Watch: The Clermont Primps for Pre-Sales [Brownstoner]
Development Watch: The Clermont Revisited [Brownstoner]
Streetlevel: Walgreens Coming to Myrtle Avenue [Brownstoner]
Development Watch: The Clermont [Brownstoner]
New Development at Myrtle and Clermont Avenues [Brownstoner]
We are renting one of these apartments although I’m beginning to have second thoughts. Ideal Properties have not so far covered themselves in glory. Indeed, we’re still waiting for a signed contract to be returned to us. We too were given the impression that there were only a handful of these units left but that clearly doesn’t seem to be the case. I will post more on this article shortly….
anon718, despite disavowing connection, you sound like corcoran to me… lame.
We checked out the apts a couple of evenings ago since we’re in the market to rent in the area. Some not all are pretty nice. Def expensive. The broker at Ideal said that there were only 8 vacancies and all had been rented. That’s a pretty shadey thing to do if they haven’t been able to rent more than 6-15 out of the 52. Makes me glad we decided against it. Just for the record I have no experience with Cocoran. But in general I think brokers need to be held responsible for such dishonest behavior.
Seems like a few of the eager Corcoran agents opened their brand new Brownstoner accounts today? Could it be Brownstoner tipped them off? Sought help? No comments from nes718, Greeny, even leftmanhattanneverlookedback, on anything, ever, except for this project, today? Hmmm… sounds like the la-la-stoner land of coincidences at its best.
As a local boutique realtor, I decided to tell this revered source of 718 R.E. info to call off the dogs. After all, why would Corcoran be deemed better, just because Brownstoner happens to like Corcoran better?
C’mon nes718 – you can’t be serious, not even for a second – generic NYC rent guidelines and your generic rules of thumb don’t apply (and have not applied for the longest of times) to Brooklyn market. Any a decent 718 would agree.
So far, they’ve only released six units: two one-bedrooms priced at $2,100 and $2,200; three two-bedrooms ranging from $2,800 to $3,500 and one three-bedroom for $3,650.
Can we say “bubble rents?” I knew we could 🙂
Rule of thumb, housing prices should ONLY be 3x median neighborhood income and rental prices should be now more than 1/3 of take home pay (of median income).
In NYC, median income is about 65k so home/condo prices should average around 195k and rental prices about 1k monthly. People that go out of their way to pay these ridicules 2k + rents do so with roommates and are inherently unstable tenants or young. The rental market in NYC is in yet another massive bubble that will also collapse in a few years time.
Greeny, wonder where exactly in Brooklyn you’d get an expensive looking bamboo floor for that rent. As a matter of fact, I wonder where in the world you’s get an expensive looking bamboo floor in a rental building…
They already rented 15??? Not an entirely bad number for a freaked out rental market, and in just a few weeks since the place has gone rental.
You go, outfit!
I have lived on this block for three years. These units were overpriced as Condo’s and are now over priced as rentals. The hood is decent but Myrtle gets very noisy. The walk to the subway is very long. The public school is safe but noisy.
Walgreen’s has been saying they are going to open “next Friday” for at least 2 months.
Clermont Greene Condos, between Myrtle and Willoughby is even more overpriced. I can not see any of this inventory moving in the current environment.
I am waiting on that Walgreens!
These are actually a better bargain and a better neighborhood than the MYNT