The Real Deal New York

109 Gold to start leasing this weekend

April 18, 2012 03:30PM

Shana Bowes of MNS, 109 Gold Street and a model living room in the building

Less than a month after the Vinegar Hill condominium building was overtaken by new ownership that planned to turn it into a rental building, 109 Gold Street will open its doors. MNS, which is leasing the 33 units in the building, said the building will hold an open house for renters April 22. The seven-story building has a mix of studios and one- and two-bedroom apartments, with rents starting at $2,000 per month. Five of the units are currently listed on Streeteasy.com (with a note on the open house), including a studio for $2,025, three one-bedrooms for between $2,625 and $2,700 per month and a $3,900 two-bedroom unit.

As The Real Deal reported last month, Praedium Group, North End Equities and Knightsbridge Properties purchased the building shortly after it was completed for $14.5 million. Though the original developers listed the units for sale with Halstead Property, the new ownership quickly decided that due to the relatively small size of the units — they range from 478 to 1,269 square feet — leasing them would make better fiscal sense.

The building also has an outdoor garden, a furnished roof deck, a fitness center and onsite parking and bicycle storage.

“The development’s high-end finishes and beautiful landscaping are signs of Dumbo’s expansion into Vinegar Hill,” said MNS CEO Andrew Barrocas. The leasing is headed by MNS’ Shana Bowes. — Adam Fusfeld

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