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34

70 Berry Sold Out

Categories: Condos, Williamsburg

70-Berry-Street-041410.jpg
After less than five months on the market, 70 Berry is sold out. The 38-unit condo hit the market in late November and as of a few days ago every unit was in contract. The building is a mix of one-bedrooms, two-bedrooms and penthouses. Asking prices ranged from $600 to $800 per foot, and we hear that there was very little negotiation on price. Pretty darn bullish.
70 Berry Street Hits the Market [Brownstoner] GMAP



By Brownstoner at April 14, 2010 11:01 AM | Comments (34)

34 Comments

By dirty_hipster on April 14, 2010 11:10 AM

Impossible!! Williamsburg is ugly and looks like Beruit in the 80s.

By tybur6 on April 14, 2010 11:12 AM

Good. So they can stop advertising on here? Such stupid ads.

By tybur6 on April 14, 2010 11:14 AM

Oh - never mind. This is 70 Berry, not 34 Berry. I guess we get to keep seeing their dumb ads.

(Mr. B -- do you charge a premium if the ads are annoying?)

By daveinbedstuy on April 14, 2010 11:15 AM

I guess these buyers didn't know that Half Off peak Comps is just around the corner???

By Butterfly on April 14, 2010 11:17 AM

it really doesnt count if the people who bought the apartments are just investors who plan to rent them out.. does it?

*rob*

By Heather on April 14, 2010 11:22 AM

I guess my prediction of Williamsburg becoming a sort of burned out Mad Max apocalyptic kind of place will not come to pass...

... YET.

It may actually just turn into Tribeca.

In either case, I am glad we left.

By mopar on April 14, 2010 11:23 AM

Yikes, why? This doesn't seem like any special bargain, and the building doesn't appear to be genuine former industrial space. The location is nice, but other than that, what's so special about this place?

By dirty_hipster on April 14, 2010 11:26 AM

"It may actually just turn into Tribeca."

That would be Dumbo.

By tybur6 on April 14, 2010 11:26 AM

Mopar - There's nothing special about this place. It looks like an office building and they were pretty pricey. This was purely a "location" sale... and strangely, Billyburg was the location.

By dirty_hipster on April 14, 2010 11:29 AM

it's decent looking, close to manhattan, close to things to do and no one has been shot around here in the past few months (which the rest of brownstone brooklyn can't really claim)

By aj on April 14, 2010 11:34 AM

it's decent looking, close to manhattan, close to things to do and no one has been shot around here in the past few months (which the rest of brownstone brooklyn can't really claim)

Ha! Nice one DH.

By BoerumHill on April 14, 2010 11:57 AM

By tybur6 on April 14, 2010 11:14 AM

Oh - never mind. This is 70 Berry, not 34 Berry. I guess we get to keep seeing their dumb ads.

(Mr. B -- do you charge a premium if the ads are annoying?)


Speaking of annoying banner ads, what's the dumbass building that asks "Are you Bushwick"? I just remember it was bright yellow & black featuring a bunch of dorks straight off the pages of http://www.latfh.com/.

By mopar on April 14, 2010 12:00 PM

So, you're saying is it's just like Park Slope -- you're paying the same to have a safe place for a family to live -- but with the added perk that you don't have to hear Phil Collins when you go out to eat?

By BoerumHill on April 14, 2010 12:04 PM

AUUUUGH!!! There it is now!

*I forgot the best part. '34 retooled apartments'. Retooled for tool in you. Sweet.

By Butterfly on April 14, 2010 12:05 PM

quote:
So, you're saying is it's just like Park Slope

it's park slope's ugly little sister.

*rob*

By dirty_hipster on April 14, 2010 12:08 PM

" but with the added perk that you don't have to hear Phil Collins when you go out to eat?"

I <3 Phil Collins. If I could listen to Sussidio while eating ramp frittatas at Diner brunch I'd be a happy camper.

By DeadCatBounce on April 14, 2010 12:09 PM

I am truly surprised.
There is a huge overhang of Williamsburg condos and lots more still on the way in 2011. Whether you are a bull or a bear, supply and demand still applies.

By more4less on April 14, 2010 12:24 PM

trust funds are FLUSH once again. Let the buying, partying, drinking,.... commence

By Crown Heightser on April 14, 2010 12:25 PM

Most of these units have probably been purchased by investors to lease. Corporations tend to buy up these developments in hipster parts of the city to house their ex pats to work in USA. Cheaper to own a corporate apartment than house an employee at a five star hotel in Manhattan.

By more4less on April 14, 2010 12:33 PM

By Crown Heightser on April 14, 2010 12:25 PM

Most of these units have probably been purchased by investors to lease. Corporations tend to buy up these developments in hipster parts of the city to house their ex pats to work in USA. Cheaper to own a corporate apartment than house an employee at a five star hotel in Manhattan.


DH, you're in trouble if above post is true - ie you'll be running into EUROtrash at work and at home

By dirty_hipster on April 14, 2010 12:35 PM

I love how there always has to be some alternate explanation why condos sell in Williamsburg (trust funds, investors, etc). Couldn't possibly be people actually prefer living there rather than other parts of Brooklyn and are putting their money where their mouths are.

By tybur6 on April 14, 2010 12:39 PM

No, DH. That's not the reason.

By dirty_hipster on April 14, 2010 12:47 PM

of course not tybur - what was i thinking? there's no crown moldings or ornate lintels within 20 blocks of here.

oh wait - we all forgot 70 Berry's proximity to Greenpoint, the #5 bestest neighborhood in NYC!!

By bjw2103 on April 14, 2010 12:56 PM

It's just a solid building in a great location. After what happened at 72 Berry, I'm not really surprised it did so well. I doubt these are being snatched up by investors - I've spoken to a couple buyers, as they're pretty active on Streeteasy.

By more4less on April 14, 2010 1:17 PM

DH, could youngins afford it without "assistance" via parents, trustfunds, etc.? we aint talking about 200k pads here

By Brownstones Half Off on April 14, 2010 1:47 PM

"sold out".

VS

"in contract"

Hmmm...have cancellations/bank no-no's declined?

"we hear that there was very little negotiation on price"

Like Re-Forte, we shall see. Until then, Go Billy!

***Bid half off peak comps***

By dirty_hipster on April 14, 2010 2:04 PM

"DH, could youngins afford it without "assistance" via parents, trustfunds, etc.? we aint talking about 200k pads here"

In my experience, in the past few weeks - the people that actually live west of bedford (northside) are older than the typical person you'd see elsewhere in the nabe. Most condo owners I've met (and people in my new building) are 35ish childless couples with two incomes presumeably over 100k each. there may be the occasional youngster who has the parental units buying him a crib - but i would think it's the exception and not the rule.

By bjw2103 on April 14, 2010 2:27 PM

"Like Re-Forte, we shall see."

The more apt comparison is 72 Berry. And you're kind of ignoring that these contracts were signed in a radically different environment. I don't see any reason why they would renegotiate any significant concessions, especially since this went pretty fast.

By dittoburg on April 14, 2010 3:09 PM

"I <3 Phil Collins"

You fart Phil Collins?

By tybur6 on April 14, 2010 3:16 PM

3< that's a fart

By dittoburg on April 14, 2010 3:36 PM

That looks more like "intestinal hurry".

You know, the D-word.

By wine lover on April 14, 2010 5:18 PM

look at DH doing my work for me.

you people are higher than the hipsters at a bushwick loft party on a Friday night if you think anybody but people (or couples) with real jobs are buying these places.
the average age of the owners and their success levels at work are seriously misjudged by people that don't live in Williamsburg.

I believe that there is only one owner under 30 in our entire condo building. And, thanks to recent events, about 40 little kids. I think the average age is between 35-50, and most people are married.

just had a friend buy in one of the waterfront properties - he's 38.

By InsertSnappyNameHere on April 14, 2010 6:35 PM

I'm not the biggest Williamsburg fan, but I say hey, if the folks liked it enough to buy it, then good for the developers. I'm tired of hearing about things tanking left and right. Besides, I didn't buy there so who cares if I like the exterior or not?

By InsertSnappyNameHere on April 14, 2010 6:35 PM

And btw, this is hardly the worst looking thing we've laid eyes on on this site.

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