A budget of $2,500 to $3,000 a month in rent will nab you a prime apartment just about anywhere in the borough.
$1,500 a foot. Yup, $1,500 a foot. That’s where we are, people, for a high-floor waterfront view in Williamsburg. This two-bedroom on the 25th floor of 2 Northside Piers hit the market last week asking $1,660,000. It’s all very nice and everything but, wow, $1,500 a foot. Amazing.
2 Northside Piers, #25L [Corcoran]
Now is a very good time to sell your condo at 2 Northside Piers! After this $3,200,000 resale earlier this summer, Penthouse #5 just hit public records for $3,600,000. The asking price for the apartment unit: $3,775,000. It last sold in 2011 for $2,545,000. It’s a four-bedroom, four-and-a-half-bathroom duplex with the largest terrace in the building. It lasted just about a month on the market before entering contract, Ralph Modica at Douglas Elliman handled the sale.
Resale at 2 Northside Piers Tops $3 Million [Brownstoner]
Here’s a very nice two-bedroom at 2 Northside Piers on the Williamsburg waterfront. Some of the finishes aren’t exactly what we’d have picked but for someone with modern inclinations they are likely to satisfy. And the two-bedroom layout is very generous with a nice master suite and an open kitchen and living area; the floor to ceiling windows don’t hurt either. This new construction goodness doesn’t come cheap though: The 1,234-square-foot place is asking an even $1,500,000.
The first batch of resales are still trickling in at Two Northside Piers — you may recall prices for the first three units hit public records earlier this year. The most recent sale was the three-bedroom, three-and-a-half-bathroom penthouse unit PH7, which came in at $3,200,000. That works out to be $1,633 per square foot. PH7 first sold in May of 2012 for $2,138,325 — that’s a boost of over $1 million in one year. It was listed for $3,250,000 this April. Unit PH5 will close on June 15. It sold in 2011 for $2,545,000 and was then listed in March for $3,775,000. It will reportedly come in close to ask, although not as close as the PH7 sale. Ralph Modica of Douglas Elliman has handled these past five resales.
The First Three Resales at Two Northside Piers [Brownstoner]
The first three resales at Williamsburg’s 2 Northside Piers are complete, according to CORE broker Ralph Modica, who is responsible for the sales. The three units are 3W, a 640-square-foot alcove studio, 14D, a 603-square-foot alcove studio, and 10B, a 813-square-foot one bedroom with office. Unit 3W was the building’s first ever resale; it sold for $532,500, 20 percent more than the original purchase. Then came 14D, selling at $590,000. Finally, 10B went for $725,000. The unit initially sold for $575,311 in 2010. (The building’s final sponsor sale, Unit 26P, came fourth in line.) Can’t say these numbers are surprising considering how quickly Williamsburg’s luxury market is growing. Above, a photo of unit 3W. See photos of 14D after the jump.
Photos by Rich Caplan
The specs on this penthouse unit at 2 Northside Piers: 2,500 square feet, four bedrooms, four-and-a-half bathrooms. It also comes with a 700-square-foot private terrace, private storage, and heat and gas is included. The rent? A modest $11,000/month. Whaddya think?
164 Kent Avenue, #PH5 [Corcoran] GMAP P*Shark
Today there’s yet another story about residents who claim a new condo’s construction leaves much to be desired, though unlike with 53 Boerum, it doesn’t appear a lawsuit is involved: The Post reports that some owners at Northside Piers allege units in the towers have a bunch of flaws, particularly when it comes to the windows. According to the story: “[T]he biggest issue is the project’s signature feature â€” massive windows, many of which offer spectacular Manhattan skyline views. The grand views, the residents say, came at a steep price. The windows are thin and the seams between the panes allow wind and rain to easily come through, residents say. Some residents have taped around the window panes, but they say rain and air still blows in. A Post reporter noticed a bad draft coming through the windows in two condos even though they were heavily covered in tape.” Developer Toll Brothers says the allegations involve “isolated situations” and the towers’ construction is sound.
Waterfront Residents Complain of ‘Shoddy’ Construction [NY Post]
Curbed dug up a never-before-seen rendering of the trio of buildings that will ultimately be built at Northside Piers. (In prior versions, the third–and waterfront–building was represented only by a glass box.) Architect FXFowle has several shots up on its website. Despite the nice and shiny finished look to Northside Piers, we’ve got one question: Where’d The Edge go?
What Northside Piers Will Look Like After The Next Boom [Curbed]
Toll Brothers is planning to start closings at the second Northside Piers tower in September, according to Toll SVP David Von Spreckelsen. Von Spreckelsen also says that the building is 30 percent in contract, though this isn’t reflected in StreetEasy’s reckoning on the condo, which is only showing three inked deals. Prices listed on StreetEasy start at $493,990 for a 714-sf 1-bedroom and go up to $2,337,990 for a 1,916-sf 3-bedroom.
Development Watch: Northside Piers Part Deux [Brownstoner]
Northside Piers 2 [StreetEasy]
The Ripple Effect of Northside Piers’ Price Cuts [Brownstoner]
Northside Piers Slowly Gaining Businesses [Brownstoner] GMAP
Price Cuts Working at Northside Piers [Brownstoner]