As auction fever starts to creep into Manhattan, we've been thinking of our old friend the Locale, the Greenpoint condo that hit the auction block back in November with starting bids of $150,000 and four sales promised regardless of the highest bid. Where are those units now? A StreetEasy discussion thread has the surprising answer: they've gone rental! Six of the Locale's 16 units are now listed as rentals asking between $1,615 and $2,100/month for 13-month leases with one month free. Despite a lot of excitement at the auction, none of the units that appeared to sell in November have recorded closings, and one StreetEasy commenter theorizes that the developer decided to go the rental route instead to pay off the building's loan. Anyone have any intel? Drop it in the comments, or send it our way.
· Locale Condos [StreetEasy]
· The Locale coverage [Curbed]