We got bombarded this week with data about the sales (or lack thereof) at Williamsburg’s Schaefer Landing by a guy with either an axe to grind or way too much time on his hands. A few things we know: (1) The developer switched from Elliman to Halstead several months ago, which suggests sales didn’t get off to a booming start; (2) Halstead currently has 15 condos as 6 rentals up on its website, so the place is far from sold out; (3) Some original buyers (like Apartment 10D) are trying to get out of their investment. We’re not so sure about our tipster’s calculation that there are some 50-odd units for sale or rent through various brokers; this tipster also reports that a lot of the original purchases were by investors, not people planning to live there, which wouldn’t bode well for the stability of prices. Anyhoo, we’re sure some of you have been paying closer attention than we have. Is this really a bad situation — or is it just a big building that still has a bunch of units left? Property Shark shows no comps for the past twelve months.
Schaefer Landing Listings [Halstead] GMAP