Was it really 2 years ago that we were doing this off-market deal at 583 Lincoln Place with Platinum Members and one of our favorite local brokers Celeste Moses? Boy, time flies when you're running laps around the traditional retail industry! Now this passive house renovation is wrapping up, Franklin Avenue has blown up bigger & faster than anyone could've imagined, and these prime time Crown Heights rentals are almost ready for their close-up, poised to fly off the shelves like hot cakes. The owner gave us a sneak peek last week before the open house this weekend for the two rentals available for November 1st. The facade cleaned up totally nice...
This huge corner building is located just steps off Franklin Avenue, and a few blocks from the 2/3/4/5 trains, and makes a great alternative to the likes of 341 Eastern Parkway. When your neighbors are renting studios for over $2,000-$2,200/month on a regular you basis, you know you're in a hot rental market. The upcoming rentals at 583 Lincoln Place include a 2BR and a 1BR with private roof deck...
There is common laundry in the basement as well as bike storage. But these aren't just any rentals. The owner walked us through some of the unique design aspects of the house. There is a common roof deck that's green, where the owner tells us tenants can pick kale off their organic rooftop farm maintained by the owner. A rain water collector irrigates all of the plants on the ground level. The building has been completely renovated with energy-friendly features such as solar panels on the roof that provide 80% of the energy for the hot water system (supplemented by a gas powered system)...
The owner raves, "The great thing about this was that after all of the rebates and tax incentives, the solar system was only a few thousand dollars to add on top of the gas system, which pays for itself in 5 years, and after that 80% of the hot water for the whole house is provided by the sun!" Other "green" features include the air-tight passive house construction, which lowers energy loss and energy bills. We're no experts, but from what everyone tells us, these passive houses really breathe. The owner tells us 90% of energy is recovered through air exchange in the ventilation system. So you're not "heating the whole neighborhood" like pops used to tell you not to. The entire house has a water filtration system. The insulation - one made of a plant-based biodegradable material - also provides extra sound-proofing from outside noise pollution. There is an emergency back-up generator for electric power. The European "tilt & turn" windows are sleek, stylish, versatile, and easy to use. Mitsubishi mini-split heating and cooling systems provide comfortable temperature control while the building maintains its temperature more easily anyways.
And while the fixtures and finishes aren't totally complete yet, it's almost there. Hand-made tile from the Dominican Republic in the bathroom for that Spanish flare...
Modern kitchens (with countertops and backsplash coming in this week)...
South, east, and west exposures on the corners...
Even if you're not weak in the knees for any of the eco-friendly features of this place, the house speaks for itself on the feel, location, and quality of the renovation alone. The rest is just gravy! Throw in competitive pricing with what else is going on in the neighborhood, and you've got a recipe for happy landlord and tenants.
Pro's: curb appeal, size, location, tons of bells & whistles for the eco-conscious and the purely self-conscious, not a huge building with no soul, common roof deck - laundry - and bike storage, great alternative to 341 Eastern Parkway
Con's: there's only 2 available, rents ain't cheap over here, this ain't your father's Crown Heights - or even last year's Crown Heights!
Ideally: after a lot of work, this flagship passive house renovation is finally spreading its wings
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