New LCOR Apartments Begin Move-Ins
- Apr 22, 2014
New York—Residents have started to move in to 250N10, a new-construction rental property in the Williamsburg neighborhood of Brooklyn. The development isn’t quite done: work still continues on the fitness center and the lobby lounge, which will be done in early May; other amenities will be finished in June.
According to developer LCOR, since leasing started about a month ago, 45 of the 234 units in the property have been leased. Rents for available units begin at $2,600 for a studio, $3,400 for a one-bedroom and $4,600 for a two-bedroom residence. The Marketing Directors is the leasing agent.
Located a few blocks from the East River waterfront and not far from McCarren Park, 250N10 was designed by SLCE Architects and features a glass curtain façade with “accents inspired by natural elements of earth, grass and sky,” according to the architect. The building also features art screens in the garage designed that were by Jaroff Design and Mison Concepts.
When completed, amenities in the six-story structure will include a two-story lobby, a café lounge just off the lobby with a landscaped courtyard, a fitness center equipped with cardio and weight room, residents’ lounge with pool table and flat screen TV and a furnished roof deck. There will be 24-hour concierge services.
Demand for apartments in Brooklyn, and in Williamsburg, is brisk, which is driving up rents. The March 2014 MNS report on the borough said that rents in Brooklyn have risen an average of 6.39 percent from $2,478 in March 2013 to $2,637 a year later.
This trend has been led by a growing demand and low inventory of two-bedroom units in many Brooklyn neighborhoods. Rents for this kind of unit increased 5.92 percent year-over-year to an average of $3,335 in March 2014. Two-bedrooms in certain neighborhoods increased by 10 percent or more: Bay Ridge (up 10 percent), Bushwick (up 10 percent), PLG (up 11 percent), Williamsburg (up 15 percent) and Crown Heights (up 16 percent).