Condo of the Day: 105 Ainslie Street, #3B

The first batch of condos at 105 Ainslie Street (aka The Suzanne) in Williamsburg were released in July, but this two-bedroom, two-bath just hit the market asking $695,000. In addition to 1,025 square feet of interior space, the new apartment also has a small balcony. As far as we can tell none of the 12 units is in contract yet, but we suspect buyers are probably waiting on the FHA approval that's pending. The other six units that are on the market can be seen here.
105 Ainslie Street, #3B [Apts & Lofts] GMAP P*Shark

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I'd like to see a bit more closet space, particularly in the master bedroom and a tub in the master bath (hate master baths that are shower only!) but it's not a terrible looking floorplan.

Posted by: InsertSnappyNameHere at September 1, 2009 12:48 PM

FHA = developer TARP

***Bid half off peak comps***

Posted by: Brownstones Half Off at September 1, 2009 1:01 PM

I'm imagining what professions the people who would buy this do. room for kids makes such a difference, unless a childless couple of person who wants two bedrooms and can afford wants the place.

Posted by: infinitejester at September 1, 2009 1:08 PM

Snappy, it looks like the developer favored a quick exit through the bathroom over a bathtub. It's a good layout for that cheating spouse with poor time-management skills. Come on, we know there out there.

Posted by: Maly at September 1, 2009 1:08 PM

LOL Maly! I was wondering if that was a second apt. exit! WTF is that doing there? Is that common?

Posted by: InsertSnappyNameHere at September 1, 2009 1:10 PM

I've seen in combined units, but not in brand new developments. Maybe they changed their minds mid-stream about the number of 1 bedroom vs. 2 bedroom apartments?

Posted by: Maly at September 1, 2009 1:15 PM

This is a great street. Centrally located. Leafy, with well maintained houses owned by italian old timers. the building isn't bad looking, but it is out of context with the rest of the block

Posted by: dirty_hipster at September 1, 2009 1:50 PM

We're talking like $3,700 per month for a 1000 sq ft 2-bedroom apartment, right? Is this what we're talking about?

And for $3,700 a month (plus a $100,000 out of pocket), this is what you get? Really?!

Posted by: tybur6 at September 1, 2009 2:05 PM

With Fha in place, the buyer is probably looking at $4,500 monthlies with only $25,000 out of pocket. Completely insane in my opinion. I happen to like the charm of this neighborhood, but let's face it, Williamsburg east of the BQE will never be the kind of place where it makes sense to pay this kind of money.

Posted by: Maly at September 1, 2009 2:25 PM

Agree with maly, this is a great, quiet, charming
part of wburg BUT this unit has got a very 2007/8 price. Units at jacksonia, 444 humboldt etc. sold recently at more like 550-600/sqft - units, IMHO, with better layouts and outdoor space. Go a few blocks south of here around grand (in an admittedly much less nice area) and yr talking 500-550sqft.

Posted by: perhaps at September 1, 2009 2:43 PM

if this is zoned for 132 (think it is), that certainly helps keep the price up. i looked at the jacksonia with a friend who was looking for a one bed, and i am guessing that this place is perhaps better done/better construction, etc...
in our building, people with similar sized apts definitely have a kid and in a couple of cases, 2 kids. not uncommon in NYC at all.
this is a very convenient location and dirty is right about it being a nice street. i'd say around $550 psf.

Posted by: wine lover at September 1, 2009 3:07 PM

What "qualifies" a new condo development for FHA financing? Where can one obtain a list of FHA approved condo developments?

Posted by: vw at September 1, 2009 4:46 PM

In order for the building to be approved for FHA, 51% of the units must be either in contracts or sold. Also 16% of the condos have to be in contract before the condo can be declared effective by the AG and get DOF approval for condo lots and deeds.

Posted by: djr at September 1, 2009 9:18 PM

dir:

Thanks for the explanation.

Posted by: vw at September 3, 2009 1:06 PM

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September 1, 2009

Condo of the Day: 105 Ainslie Street, #3B

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