Insurent Lease Guaranty Signs up More Owners in Brooklyn as Demand Grows for High Quality Apartments

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The Insurent® Lease Guaranty Program was created to assist landlords, condo/co-op owners, renters and brokers in closing residential leases. Its role as the "institutional mommy and daddy" allows thousands of leases to quickly and easily close to the benefit of all parties that otherwise would not close without Insurent.

As the rental market (and condo market) in Brooklyn continues to improve, the Insurent Lease Guaranty Program has increased its presence with well established Brooklyn landlords as well as with new major owners and developers. For some time, Insurent has been utilized by some of finest new buildings in Brooklyn including The Brooklyner, 80 Dekalb Avenue, 184 Kent Avenue, and 34 Berry Street. These buildings are particularly attractive because they have substantial amenities which match those in significant Manhattan buildings.

There are two other exceptional new buildings using Insurent which are just opening: the Addison and the Arias Park Slope. The Addison which is managed Citi-Habitats Marketing Group, has 271 units and is emblematic of what Brooklyn is about. Located at 225 Schermerhorn Street where Boerum Hill and Downtown meet, The Addison offers the best of both worlds – featuring modern amenities while contextually woven into the fabric of its surroundings. With an array of restaurants, hi-end retailers, antique shops and transportation all within easy reach. The Addison features many amenities including a fitness center, on-site parking, cold storage, lounge with fireplaces, bike storage and private resident storage.

The Arias Park Slope is a perfect blend of style, convenience and comfort. It is filled with Zen-inspired amenities such as a dramatic two-story attended lobby, an immaculate putting green, fitness center, residents’ lounge, roof deck, multiple garden areas, pet spa, on-site parking and more. The Arias is located at 150 4th Avenue and has studios, one and two bedroom residences. It is managed by the Marketing Directors.

Regarding the recent rental market rebound in Brooklyn, Andres Barracos, the CEO of the Real Estate Group of New York, offers insightful commentary:

“Downtown Brooklyn rental market has certainly made a huge impact on New York’s rental market. With over 3,000 rental units coming to the rental market all within 2010, many questioned whether the market could sustain it. That question is now history with new projects starting to come out of the ground and many major developers looking to jump into the game. Absorption schedules were surpassed and asking rents were in the $40-$50 ppsf range. With asking rents competing with Manhattan rents there is no doubt that downtown Brooklyn has arrived. Transportation is incredible with all major trains coming into the Atlantic stop (couple stops from Manhattan). The views are unbeatable, and the buildings are flushed with amenities.”

Insurent will publicly announce many more owners and new buildings in Brooklyn and Manhattan shortly. Stay tuned.

About Insurent
The Insurent® Lease Guaranty Program was created to serve renters, landlords, condo/co-op owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases. Insurent Lease Guaranty has been featured in the New York Times, The Real Deal, The New York Real Estate Journal and Real Estate Weekly.

The Insurent® Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A.M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent® Lease Guaranty to satisfy the landlord's financial and credit requirements.

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Charles Schoenau
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