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RESIDENTIAL REAL ESTATE; Turning Old School Into Apartments
Published: September 17, 1999
Work is nearing completion on a $10.5 million conversion of the turn-of-the-century St. Agnes elementary school in the Carroll Gardens section of Brooklyn into a 90-unit middle-income rental apartment building.
When completed next month, the Italian-Renaissance-style former school at 421 Degraw Street will have studio to three-bedroom units to be rented to people with annual incomes of $30,000 to $100,000. Monthly rents for the apartments, with 450 to 1,200 square feet, will be $800 to $1,750. The developer and area brokers said those rents were 20 percent lower, on average, than rents for apartments at the eastern edge of this reviving neighborhood.


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