Condo of the Day: Resale at the Mill Building

are these the developers finishes? they seem so 1993 to me

Posted by: guest at July 10, 2008 12:43 PM

This is not one of the developer’s buildouts. It must be one of the tenant buyer’s selling it. They likely paid $800-900K last year. They are looking for a big profit, given the fact that it looks like they have done no work on the apartment. That is asking a lot, given the 25% drop in prices in Williamsburg. A 1500 sq apartment in the same building went for less than a mill recently.

Posted by: guest at July 10, 2008 1:03 PM

doucheinbedsty

Posted by: guest at July 10, 2008 1:05 PM

1.03, if this is Apt 309, it was bought last fall for only $620,000. Must have been to a tenant or other insider. Even given the insider price last year, $1,435,000 seems unrealistic. Seller is probbaly just testing the water.

Posted by: guest at July 10, 2008 1:24 PM

biff and dibs
sitting in a tree...

Posted by: guest at July 10, 2008 1:25 PM

where's the floorplan? 1950 sf is huge - this looks like 950 sf - all the pix are basically the same.

Posted by: guest at July 10, 2008 1:27 PM

guest 1:03

"That is asking a lot, given the 25% drop in prices in Williamsburg."

from the link today:

"WILLIAMSBURG AND GREENPOINT: Overall median sales price of all property types was $508,402, up 9% from the same period last year."

that contradicts what you say about -25%. Do you have a reference?

thanks.

Posted by: guest at July 10, 2008 1:38 PM

$900 psf? Or $900K?

Posted by: guest at July 10, 2008 1:40 PM

1.38, according to Corcoran Group, prices in Williamsburg are down by 26% compared to last year --

http://www.nytimes.com/2008/07/02/nyregion/02market.html

If someone is willing to put in some time and work on this apt, my guess is it would go for $1.1 at most, if the view/light is good.

Any thoughts?

Posted by: guest at July 10, 2008 2:09 PM

This place needs two front doors in case you want to exit at the same time your partner is entering.

Posted by: guest at July 10, 2008 2:27 PM

Wakey, wakey people.

Just look at Streeteasy.com.

Two raw units just sold for nearly $2mm for about 3000 sq feet.

That is approx. $667 a foot.

1950 x 667 = 1,300,650

And this apt is finished, albiet not the new finishes. The price is very reasonable, maybe low.

Great properties go for great prices. There is nothing like the Mill in Williamsburg.

And yes, I do live there.

Posted by: guest at July 10, 2008 2:28 PM

Doesn't anybody want to make gratuitous comments about the artwork?

Posted by: guest at July 10, 2008 3:51 PM

Careful. They may be worth more than the apartment.

Posted by: guest at July 10, 2008 4:49 PM

Nice building. Too bad about the location.

Posted by: guest at July 10, 2008 4:59 PM

What is too bad? Let's hear it.

Posted by: guest at July 10, 2008 5:28 PM

Radiac is not down the street.

If you are so scared of Radiac, I hope that you live miles away and not down wind of the facility. Do you know which way the wind usually blows?

Radiac has been there for over 35 years.

Posted by: guest at July 11, 2008 12:34 AM

the wind doesn't really affect radioactive dumps. sure, when a nuke device is blown up above ground the fallout is carried by the wind, but when the radioactive material is sitting in barrels it "radiates" it's unstable atoms more or less in a circle.

get a geiger counter and compare west williamsburg to park slope sometime like my friend did 10 years ago - not pretty.

Posted by: guest at July 11, 2008 9:38 AM

Yes it is on South 1st.

And Radiac does not store anything long term anymore. It is a transfer station. 10 day max stay.

The materials there are not going anywhere unless there is a large fire.

The major objection is that it may be a target of terrorists.

Posted by: guest at July 11, 2008 11:55 AM

i don't think the price is totally out of line, and it's a great location for going out, etc... for a family, mid/north williamsburg is probably better because PS17 is a better school. there are now many extremely well off families.

Even though the exterior is appealing, many brand new buildings were done really well (yes, even though they are new!) and should be considered before buying this interior.

Posted by: guest at July 13, 2008 2:03 AM