South Williamsburg Is The Target For The Next Co-Living Apartments
Literally building on the success of its Crown Heights project at 1162 Pacific Ave in Crown Heights, Common is now setting its sights on South Williamsburg.
The co-living pioneer, teaming up with Paul Henry’s Patoma Partners, is now planning to build a 12-suite, 51-bedroom residential complex. Patoma bought the site, on 248-254 South 3rd St, for $2.4M in 2012, The Real Deal reports.
Consisting of four five-story buildings with three fully furnished apartment suites each, amenities will include a film screening room, a lounge and a "wellness studio" in addition to common outdoor and rooftop areas.
Rents for residents who sign a six- or 12-month lease are expected to range from $1,800 to $2,650 a month. Renters can also for over $2,250 to $3,190 for a month-to-month arrangement. Either way, they'll get more than just a bedroom: the prices include such perks as laundry and cleaning services, WiFi, utilities and furniture.
Common CEO Brad Hargreaves says he expects robust demand for its new Williamsburg offering, especially given its faster commute to Manhattan along with proximity to local bars, clubs and restaurants. [TRD]
