Development Watch: Checking In with Northside Piers

Wednesday’s fire at the Northside Piers is a good excuse to revisit the giant Toll Brothers project taking form on the waterfront of North Williamsburg. While every anti-corporate bone in our body wants to be able to knock the project, we actually like the looks of the 29-story, Fox & Fowle-designed glass tower. The more important question, however, is whether buyers are liking it. Reliable data is a little hard to come by on this front (especially since emails to both the broker and the project’s PR rep yielded nothing). As of mid-June, about 40 percent of the 180 units in the first tower were sold, according to an item on TheStreet.com. Around that time, prices for the B-line units were reduced by 20 percent or so to around $800,000. Currently, there are 120 apartments posted on Halstead, 76 of which are listed as being in contract. So, apparently, the project is somewhere between 40 and 60 percent sold. Prices per square foot are all over the map, from the high $600’s to almost $1,500. The main tower (known as Tower 1) looks to be well on its way to completion, while the smaller building closer to Kent Avenue, where the unrich and unfamous presumably will be housed, is still in the cinderblock stage.
Development Watch: Northside Piers [Brownstoner] GMAP
Northside Piers PriceChop Update: Views to a Kill [Curbed]