Oro sells 20 units through rent-to-own

While the rent-to-own sales plan showed little momentum in many New York City developments recently, Downtown Brooklyn condominium Oro may be finding some success in the strategy. The 303-unit building at 306 Gold Street has sold 20 apartments through the rent-to-own program, according to Robert Scaglion, a senior managing director at Rose Associates, the building’s exclusive sales agent. Oro, which launched sales in February 2007, first began offering the rent-to-own option a year ago. The development includes studios and one-, two- and three-bedroom homes, ranging in price from $365,000 to $1.2 million. TRD