Brownstoner has been following the development of 185 York st. in Vinegar Hill since last summer and notes on October 18th that the building appears to be “nearing completion” although Brownstoner reports finding no listings for the sevon story, 16 unit property yet.
Neighboring building, 181 York, completed in May of 2010 began renting units from $1650 to $3000, which seems to several readers as well as Brownstoner to be a bit unreasonable given the location of Projects right across the street where a shooting death occurred less than a month ago.
But as one reader comments, there is always somebody “with more money than sense” who will pay whatever the asking price is, and thus, push up prices in the neighborhoods that do not have the Projects as a neighborhood feature.
So it will be interesting to see what happens when these units come on line.
Will the prices be similar to its neighbor and how fast will they sell or rent? Exactly how much of a turn-off will the Farragut Houses prove to be?
Supply and Demand will have to work this one out between themselves.