I am having the same issue. The only way I got it to work was setting the file permission to 777 on uploads folder recursively but I obviously do not want to do this.
So, realized that it had nothing to do with wordpress. I had to edit the httpd.conf file on my server to point the new subdomain to my folder.
Yes, it was setup pre 3.5.
I am having the same issue. I guess it was working a month ago and I am new to this project so I have no clue what has been updated recently that may have caused this.
Console image
Example page
Thanks,
Brendan