I have a question regarding the real estate market here in Greenpoint. I need some smarty pants agent or landlord to enlighten me about what I just found out.

My VP at work has lived in Williamsburg for awhile, she arrives via MO (not relevant). She has tired of her nabe, the L train, higher rents so on and so forth. So she comes and tells me she’s coming to Greenpoint!

VP – “I am going to be your neighbor; so tell me about the G train..”

Me – “Wow, that’s great! I tell all the cool places she will be near and pretty much what to expect from her commute.

VP – “I am really excited, for what I paid in Billyburg (she will now have a roommate), I am gettting a duplex with a yard!”

Me – “That’s so cool, good for you.. (I am happy for her; she is cool people)

Here’s where I am dumbfounded-

VP – ” Yeah and it’s “rent to own” so I have the option to buy and every month the rent goes into an escrow account…

Me – “Really?”

WTF, where is there rent to own in Greenpoint? This is not a new structure. She is living in an existing building.

So tell me people where can I rent to own? Justine has seen listings like this in Staten Island. I demand to know where else? Tell me people! While I am happy for her, I am seething jealousy. I’m sure that isn’t proper English… whatever.


Please tell me this is just amazing luck and everyone throws away rent money.

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  1. My guess is it’s an existing ground floor condo apartment. Possibly the owner doesn’t want to sell for a year or so and was willing to give part of the rent back to the renter if they decide to buy later on.

  2. although nobody seems to like them, in the newest Belvedere on Guernsey you can rent to own (they are converting them to condos at this point).

  3. That’s pretty nifty. I know Equity Apartments have this thing where they put a certain amount of your rent towards a house. Of course, that’s only if you continue to rent with them until you buy a house.

  4. Why don’t you ask her? and then let me know, b/c I currently live in Greenpoint and would love to get in on a ‘rent to own’ option

  5. So I asked.. her situation is unique. Digitalfront is correct, it’s this one guy who owns it who is giving her this option. I wonder who else wants out but doesn’t want to sell in this climate?

  6. When I moved into my current place, my landlord discussed the sale of the apartment but only to say they had kids they wanted to inherit the building (the previous tenant had wanted to buy and had been here for 14 years). They knew other landlords selling apts to tenants. I have no idea how they arrange that but there must be a way.

  7. Okay, beyond the basic question, I just really like the way you recounted the dialogue. You captured the boss/worker relationship really well. The open-ended “I dunno where to find the rent-to-own places,” also illustrates the natural subordination in how you relate with her, and the sense of superiority she flaunts using this (obviously) fictional prospective housing arrangement of hers… Personally, I think she’s bragging about it to make up for the fact that she hails from MO — remember it was one of those “too close to call,” states in the election.

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