Unbelievable location, mediocore building. Toll is a public company and it out of touch with the market in Williamsburg. The ceiling heights are 9 feet. The 1450 sq/ft 3 beds are really only 1200 sq ft. Small rooms. So they are asking over $1000 a foot. Other than a great view that is guaranteed forever, not much going for it.

Take a look at the Mill Building a few blocks away. Prices are half and the spaces huge with 11 foot plus ceiling and premium fixtures.

Posted by: flyintheointment at September 28, 2006 11:00 AM in response to North 8: Shangri La on the East River

I went to look at the penthouse. The floor plan looked great.

The location is weird, but not bad. Across Ocean PKWY on Church is great food shopping.

Nice view of the park.

The police station is right across the street=safe.

The parade grounds is across the street=great for kids sports.

The entrance to the Prospect Pkwy is around the corner=Easy commute to the city.

Doorman and indoor parking. Great.

So what was wrong? The developers went for an extra floor instead of ceiling height.

The ceilings are LOW. Not even 9 feet. And the HVAC ducting is below that. There are all sorts of dropped stuff below the ceiling. It is actually a little crazy.

Posted by: flyintheointment at October 3, 2006 12:33 PM in response to Squaring Up With The Park Circle

1-The brokers at North8 were originally told the ceilings were 8 feet. I walked right out. I was called the next day and was corrected, they are going to be 9 feet. The bigger problem is that the 1450 foot 3 bed is really 1200 feet. That is a $1000 a foot. Great location thought might make up for the shortcoming, so to speak.

2-The Mill Building is selling well. They just have not updated the web site.

3-The floors are beautiful. All of the fixtures are first rate.

4-The models look good. Almost all of the units have original wood support beams and columns in them.

5-Some of the units come with outdoor space. The prices are very reasonable for them. Almost like getting the outside space for free.

6-Disclosure. I bot one.

Posted by: flyintheointment at October 4, 2006 1:19 PM in response to Condo of the Day: The Mill Building

The maintainence is like 50 odd cents a foot.

24 hour doorman. Garage, etc.

The building I am in now is like $1.55 a foot.

Posted by: flyintheointment at October 4, 2006 1:24 PM in response to Condo of the Day: The Mill Building

The ceiling issue may vary from floor to floor. I was looking at the largest unit in the building on the eigth floor. It was a mess. Ducting below the ceiling grade verywhere.

But I can agree that I loved the floorplan. That is what got me out there.

Posted by: flyintheointment at October 12, 2006 4:46 PM in response to Park Circle Apartments Already on Market

"Is the Corcoran group getting too confident in this soft market?"

In any market there is product that is superior to others. Those products will garner a higher price.

The NYT article "Lemons" a few weeks back was about that.

In a white hot market, they can sell snowballs in hell. When the market slows the bad properties suffer the most.

If you buy location, a lot of square feet, doorman, indoor parking, view, outdoor space, you cannot go wrong.

I have a friend in Tribeca in one of the few doorman buildings and there is a premium to buy there as there are few doorman buildings down there and his was the only one for a long time.

Williamsburg will be no different. There are some buidlings with great locations and less than great features. You have to weigh this when apartment shopping.

In this case Corcoran has a good product relative to most everything else in the area.

North8 has a great location, but small units, limited doorman.

Gretsch has amenities and views(for now), but no parking, even though it was promised and may eventually get built.

Indoor parking is the big difference out in Brooklyn. Very few buildings are being built with it. The Macarren park towers all have outdoor parking. Better than nothing, bad for you car. Someone buying a $2million+ penthouse is going to have a really nice car or two.

Posted by: flyintheointment at October 12, 2006 6:58 PM in response to Condo of the Day: The Mill Building

It looks commercial to me. I just drove by the other day. It looks like they are trying to get the windows in before it gets really cold, so they can work on the interior. It does not look like any additional floors are to be added, but I did not see the permit, they are posted high up on the scaffold.

Posted by: flyintheointment at October 24, 2006 12:01 PM in response to Light & Air On Kent (But for How Long?)

There will be a one story "building" there to make the entrance to the garage.

The above poster is correct.

Posted by: flyintheointment at October 24, 2006 12:04 PM in response to That's Me in the Corner, Losing My Lotline Windows

Found this:

Earlier this year, the Developers Group sold out several new condominium properties in the neighborhood, including 74 Huron St., 17 North 7th St. and 226 South 2nd St. But there is plenty more to come--next year, construction work will start on a 300-unit building at 184 Kent Ave., a 90-unit one at 125 North 10th St., 82 units at North 3rd and Berry St. and 52 units at 189 South 4th St. In two years' time, contractors will be able to get their hands dirty at 234-264 North 10th St. (186-unit building) and 240 Kent Ave. (100-unit building).

So maybe a conversion is in the works.

Posted by: flyintheointment at October 30, 2006 1:04 PM in response to Light & Air On Kent (But for How Long?)

LOL-Simply look at the website. Of the units that were released almost all have been sold. I think that there are five left. There are some additional units to come to market in the future. Because the building is an IMD building some units are occupied and won't come to market right away.

The cabanas and views are great.

Posted by: flyintheointment at November 7, 2006 1:09 PM in response to On Top of The Mill