Williamsburg is one of those places where property deals have backfired, and projects have come to a standstill. In fact, one can easily see empty skeletal frames and muddy excavation sites thanks to stalled condo projects. However, those who are trying to shift the paradigm from selling built condos to renting them out, the future might be slightly better.
34 Berry Street is one of those condos that began leasing in April. It is developed by Pennsylvania-based LCOR and comes with 142 studio to two-bedroom apartments in a 7 story building. Ranging between 450 to 1,100 square feet, these condos could be a great way to attract short time visitors to Williamsburg, to stay on rent here.
34 Berry Street is located at the corner of North 12th Street, catercorner to McCarren Park. 1,600-square-foot fitness centre, a 24-hour computer lounge and a roof deck equipped with a communal grill are some of the other features that would be available to all the tenants. In Williamsburg, the average rent for a 2 bedroom house increased from $2,862 in January to $2,953 in March. There are also going to be several more rental projects like 34 Berry Street in Williamsburg.
Via: The Real Deal