Developers Announce 50-Percent Lease Of Plank Road At 662 Pacific Street In Prospect Heights, Brooklyn, New York YIMBY told us 2/5/22, conveying a press release from The Brodsky Organization.
If the 312-unit tower is truly 50% leased, with 156 leases, that's significant, because the lottery for the 94 affordable units available through the city's Housing Connect portal closed only 1/18/22, likely too short a time for those leases. So that would mean that 156 out of 218 market-rate units were leased, or nearly 72%.
Or if "50% leased" refers only to the market-rate units, that would mean 109 leases.
(I queried a rep for the developer, but didn't hear back.)
A look at StreetEasy (which is not definitive) on the day of the YIMBY publication, showed 75 previous rental listings and 13 active rentals.
Amenities, or pricing?
“We’re pleased to see Plank Road reach this key milestone,” said Alexander Brodsky of The Brodsky Organization, according to the press release. “Prospective tenants are drawn to the full suite of amenities including a rooftop and pool, stunning new apartment interiors, and convenient location to everything Brooklyn has to offer.”
Incentives probably helped too. From the article: "Current net effective pricing starts at $3,065 for studios, $3,425 for one-bedrooms, and $5,375 for two-bedrooms."
Meanwhile, some of the currently rentals, as shown in the screenshot at right, from the day of publication, have had price cuts.
It's a dynamic situation, of course.
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