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December 2, 2008

Different Prices for Similar Spaces at The Edge

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New York magazine took a look at two three-bed, three-bath condos for sale in The Edge. They're very similar, except in price: there's a $265,000 difference between them. So what allows for such monetary discrepancy? It ain't size. The cheaper one, the 1,785-square-foot 20G (on the left), goes for $1.75 million. 26KL, on the other hand, is 1,707 square feet and $2.01 million. The shift in price is due to layout, turns out. "Apartment 20GH’s layout is fairly straightforward, with a slim kitchen separating the living and dining rooms with views of Brooklyn. In 26KL, however, the combined living-dining spans 30 feet and is bookended by terraces, with views of Manhattan." 26KL, they say, is for folks who want to entertain.
Same Space, Different Place [NY Magazine]
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Posted by lisa at 10:00 AM | Comments (21)
Categories: Condos, Williamsburg

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Comments

I wouldn't complain about either layout, but I do like 26L better, more open living / dining and views of Manhattan...Woohoo!!

Can anybody spare some change?

Posted by: bayridgegirl at December 2, 2008 10:42 AM

I don't think you'll need as much change as you think. While these will still be expenisve, there is no way they will now meet those asking prices.

Posted by: dittoburg at December 2, 2008 10:44 AM

Is anyone actually buying these McMansions-in-the-sky anymore?

Posted by: shillstoner at December 2, 2008 10:54 AM

I really can't figure out who would be buying this stuff right now.

Williamsburg is not where I'd be sinking any money at this point in time.

Posted by: 11217 at December 2, 2008 11:06 AM

"Is anyone actually buying these McMansions-in-the-sky anymore"

A 3-bedroom is hardly a McMansion.

I guess my 2-bedroom 980 sq. ft. is a mansion....I am living large!!

Posted by: bayridgegirl at December 2, 2008 11:09 AM

1,700 sq ft a McMansion!!!!!!!??????

Posted by: daveinbedstuy at December 2, 2008 11:14 AM

bayridgegirl,

A McMansion is not defined by it's size, but rather by it's style and lack of individuality. From the huge master bathrooms with his and her sinks to the walk-in closets to the granite and stainless kitchens and the overall lack of any character, these units are definitely McMansions.

Posted by: shillstoner at December 2, 2008 11:23 AM

Over $1000 psf for a white box, not near transportation in Brooklyn?

Who, I ask who would buy these in this economic climate??


Posted by: 11217 at December 2, 2008 11:31 AM

11217 - you are so wrong. There is a free 2-person kayak, and I heard the developers are hoping to install a Mayan rope bridge to connect with Stuy Town.

Posted by: dittoburg at December 2, 2008 11:38 AM

Oh!!! In that case, I'll take 2!!!!

Posted by: 11217 at December 2, 2008 11:44 AM

Shill,

When I hear McMansion, I def. think of size!

http://en.wikipedia.org/wiki/McMansion

'A McMansion often denotes a home with a larger footprint than a median home, an indistinct architectural style similar to others nearby, and is often located in a newer, larger subdivision or replaces an existing, smaller structure in an older neighborhood.'

When I see a space that 'overall lack of any character' - I classify it as a space lacking of character.

So, a One Bedroom with a "huge master bathrooms with his and her sinks to the walk-in closets to the granite and stainless kitchens and the overall lack of any character", you'd consider a McMansion??

I still want to believe I live in a 2-bedroom Mansion.

Posted by: bayridgegirl at December 2, 2008 11:47 AM

Bayridgegirl:

Delete the first phrase of your definition, and that describes these unites:

McMansion
'an indistinct architectural style similar to others nearby, and is often located in a newer, larger subdivision or replaces an existing, smaller structure in an older neighborhood.'

EXACTLY what these are. They have an indistinct style. They are exactly the same as all the others in the vertical subdivision. And the subdivsion probably replaced a small building. What about the comparision do you not get?


Posted by: shillstoner at December 2, 2008 12:03 PM

"They have an indistinct style. They are exactly the same as all the others in the vertical subdivision"


Very much like the people who buy them...

Posted by: 11217 at December 2, 2008 12:05 PM

Shill...You CAN'T delete the first phrase from the written definition. You can't deny a McMansion is about SIZE.

So a 300 sq. ft. studio that has 'an indistinct architectural style similar to others nearby, and is often located in a newer, larger subdivision or replaces an existing, smaller structure in an older neighborhood" is a McMANSION???????

Posted by: bayridgegirl at December 2, 2008 12:23 PM

"an indistinct architectural style similar to others nearby"

Like a typical brownstone?

Posted by: SnarkSlope at December 2, 2008 1:46 PM

A McMansion not about size at all. The average suburban McMansion is about the same size as the average Brownstone. Is a brownstone a McMansion? A suburban McMansion can be smaller than the old houses around it, but they aren't McMansions either.

The key to being a McMansion is the "Mc" part, not the mansion part. And there is nothing more Mc than these highrise suddivsions.

And SnarkSlope, Brownstones have a DIStinct style similar to those around them. Big difference.

Posted by: shillstoner at December 2, 2008 2:13 PM

find nothing wrong with these types of buildings, and I'm not really liking the snobbish tone this thread is taking, so I'll play devil's advocate.
Don't get me wrong, I love brownstones, but the lifestyle they provide doesn't appeal to everyone. If you live in one, and like it, fantastic!! I'm glad you are happy with your home. But if you can't see why someone might prefer to buy a brand spanking new apt with great amenities, in a good neighborhood with a view of the most recognizable skyline in the world - then you are delusional. Some people want more for their 2 million bucks then a fixer upper in Park Slope, or a nice house in a marginal neighborhood. Once again, if that is what you chose to do, and you are happy - great! But that might not be others' cup of tea.

that said - I've walked past many of row of brownstones that looked very similar. Sure, the insides might be different, but newsflash, they are older!! They have had many different owners who have changed them how they see fit. I don't see how it makes much sense for a modern developer to make each apt "unique"

That said, I find the Edge to be overpriced. I'm sure it will be a dandy place to live one day - but you won't see me paying 1,000 psf for it.

Posted by: A Guest at December 2, 2008 2:23 PM

I understand why people like these buildings, just as I understand why people like their suburban equivalents. They're new and clean and have big bathrooms. Cool. But that doesn't change what they are.

Posted by: shillstoner at December 2, 2008 2:55 PM

Looks like trouble is a brewing on the Williamsburg Waterfront:

Since Northside Piers went rent-to-own, only one buyer has taken the offer, according to Crain's and "Like over a score of other builders that flocked to Williamsburg, Toll Bros. faces plummeting demand just as the number of units is soaring." Crain's totals up the originally planned waterfront units at 7,000.

Oh, and no major retail tenants anywhere yet, either. Like we said, there would seem to be a few challenges here and there.

Posted by: 11217 at December 2, 2008 5:53 PM

i agree that there's going to be a supply problem in williamsburg, but probably with smaller apts rather than these big ones. there are too many smaller apts and not enough large ones. according to my neighbor who is a very successful broker, the average buyer for the expensive properties is someone who wants everything that these places have - size, new, amenities, etc... in manhattan, but for can't get them at this price point. add to this the williamsburg "view" factor, and these apts sell. they said in fact that the more expensive places are in fact, easier to sell. also, i don't think that the williamsburg buyer wants to live in brownstone brooklyn. they want city access and city type shops galleries, music, restaurants, etc... which williamsburg has. in our condo building all of the big and expensive apts went into contract first save one.

Posted by: wine lover at December 2, 2008 9:33 PM

i agree that there's going to be a supply problem in williamsburg, but probably with smaller apts rather than these big ones. there are too many smaller apts and not enough large ones. according to my neighbor who is a very successful broker, the average buyer for the expensive properties is someone who wants everything that these places have - size, new, amenities, etc... in manhattan, but for can't get them at this price point. add to this the williamsburg "view" factor, and these apts sell. they said in fact that the more expensive places are in fact, easier to sell. also, i don't think that the williamsburg buyer wants to live in brownstone brooklyn. they want city access and city type shops galleries, music, restaurants, etc... which williamsburg has. in our condo building all of the big and expensive apts went into contract first save one.

Posted by: wine lover at December 2, 2008 9:33 PM

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