Common: Co-Living Startup from a General Assembly Founder

Re:Common: Co-Living Startup from a General Assembly Founder by hendzen on Tuesday December 22, 2015 @09:14PM (#10781628)

This seems quite expensive given that the units are located in Crown Heights.

(19 people * 1900 avg rent) / 7300 sqft = $4.68 per sqft

Lets look at a typical unit [0] in Crown Heights. We'll look at large units (4+ br) to make it comparable as possible.

It's 4k per month for a 1200 sqft space with for 4br - so

$4000 / 1200 sqft = $3.33 per sqft

So about 40% more expensive than a normal shared unit + plus way more roommates. I think the extra 800-1000 difference per month should pay for food and laundry with plenty to spare for savings.

[0] - http://streeteasy.com/building/348-eastern-parkway-brooklyn/...

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Re:Common: Co-Living Startup from a General Assembly Founder by thesyndicate on Tuesday December 22, 2015 @10:42PM (#10781818)

Founder here! Keep in mind that we provide laundry, utilities, and shared kitchen and bathroom supplies. We also host a lot of dinners and shared events / meals / etc for the community.

It's also month-to-month and furnished.

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Re:Common: Co-Living Startup from a General Assembly Founder by tdaltonc on Tuesday December 22, 2015 @09:40PM (#10781691)

Yes, that 40% is called profit margin.

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Re:Common: Co-Living Startup from a General Assembly Founder by jarcane on Wednesday December 23, 2015 @09:53AM (#10783559)

If you think landlords in New York aren't factoring in a profit margin, I've got this great bridge in Brooklyn I'll sell you.

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