Common's newest location isn't pure coliving - Technical.ly Brooklyn

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Dec. 21, 2016 7:28 am

Common’s newest location isn’t pure coliving

The company's sixth property will be its largest and least communal.
Baltic will house 170 Common members.

Baltic will house 170 Common members.

(Courtesy photo)

When Common’s newest coliving space opens next month in Boerum Hill, it will look a little different from the ones that came before it. Think swankier amenities as well as private kitchens, living rooms and bathrooms.

Called Baltic, the newest property will include 140 units, split between shared space (coliving), studios and one-bedroom apartments. The shared living still start at $2,000/mo., the studios $2,825/mo. and the one-bedrooms at $3,295/mo. The building, located at 595 Baltic St. has a roof deck, a full gym, parking and a doorman.

“I think people want to live in a community and know their neighbors, but that doesn’t necessarily mean you’re sharing a kitchen or sharing a bathroom,” Common founder Brad Hargreaves said in an interview Monday. “If you do, you could realize a lot of cost savings, but not everyone wants that.”

Common's new digs.

Common’s new digs. (Courtesy photo)

Hargreaves said that the move away from coliving, where each member of the community has their own bedroom but shares the rest of the house, is not due to lack of demand. In fact, he said more than 12,000 people had applied for Common’s 120 rooms.

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The move had more to do with the available developed real estate, adding inventory and the feedback from Common’s existing members.

Few developers are building projects which could serve as a 70-unit coliving space, Hargreaves said. So by taking an existing development and altering it, they’re able to achieve a hybrid space.

Plus, members just got tired of the shared everything deal. Some got dogs. Some got spouses. You need some space sometimes, man.

“One of the things you’re going to see in 2017 will be a maturation of the coliving market,” said Hargreaves. “A lot of it will be driven by supply and access to high quality inventory as well.”

A Common bedroom.

A Common bedroom. (Courtesy photo)

Last January we called 2016 The Year of Coliving and Hargreaves has done nothing to disprove that. This year the company has gone from two to nine spaces, including two in San Francisco, and raised $16 million.

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