What Is Up With Schaefer Landing?
We got bombarded this week with data about the sales (or lack thereof) at Williamsburg’s Schaefer Landing by a guy with either an axe to grind or way too much time on his hands. A few things we know: (1) The developer switched from Elliman to Halstead several months ago, which suggests sales didn’t get…
We got bombarded this week with data about the sales (or lack thereof) at Williamsburg’s Schaefer Landing by a guy with either an axe to grind or way too much time on his hands. A few things we know: (1) The developer switched from Elliman to Halstead several months ago, which suggests sales didn’t get off to a booming start; (2) Halstead currently has 15 condos as 6 rentals up on its website, so the place is far from sold out; (3) Some original buyers (like Apartment 10D) are trying to get out of their investment. We’re not so sure about our tipster’s calculation that there are some 50-odd units for sale or rent through various brokers; this tipster also reports that a lot of the original purchases were by investors, not people planning to live there, which wouldn’t bode well for the stability of prices. Anyhoo, we’re sure some of you have been paying closer attention than we have. Is this really a bad situation — or is it just a big building that still has a bunch of units left? Property Shark shows no comps for the past twelve months.
Schaefer Landing Listings [Halstead] GMAP
re schools again:
to understand the massive changes, go to the yahoo groups of brooklynbabyhui or parents 11211. so many families are moving to williamsburg, that things will be different. people make a school work. schools are organic.
the presence of motivated parents who invested in the neighborhood will make a huge difference. in our condo complex there are mostly couples – couples with children, couples that are expecting and couples who got a 2 bedroom because they are planning.
on another note: i bought in cobble hill in ’97, and then in the slope west of 5th ave in in 2000. both places were considered less than prime. both sold for over a 100% profit. the increase in prices were fueled by families moving to the neighborhood. sold my place in the slope to a couple with a kid and who were expecting a second.
the boom in real estate is partially due to the fact that young parents are not leaving the city. there are now more children under the age of 5 than ever before. this is a powerful demographic shift. HUGE.
williamsburg is going to see increased prices in sales. owners who have put down roots in a neighborhood improve that neighborhood. very very different than renters.
Lets face it. SL is a gated community, isolated from its neighbors. Even the next-closest condo developments on Broadway are much less isolated. The south side is under served by basic amenities and thus will appeal to more homesteader types than someone who wants a more mature neighborhood.
The fact is that except for the views and water-front location SL is really a basic building with nothing special about it. It does follow the trend of quick, cookie-cutter units without character or any details which make it feel special. Again, look to the condos on Broadway (20 broadway, Gretsch) for more interesting layouts, fixtures and basic character.
However, over time, SL will probably hold up well. As the waterfront gets redeveloped, it will join a nearly seamless string of water-front parks and developments which will help link it to the rest of the neighborhood.
As a resident of the south side, I have to say that sometimes the fact that there isn’t a good supermarket within a few blocks does suck. But it doesn’t feel any more isolated than I felt in the East Village in the 80s before that neighborhood matured. Now look at it.
Finally I do feel compelled to comment on the Hassidic community on the south side. The Satmars who live here are different than say the Lubavich sect off Eastern Parkway. They are more xenophobic, racist, sexist and basically hate anyone who is not part of their community (for those of you who don’t know what xenophobic means). They complain about encroachment on their community, but seem to forget that they pushed out other communities as they expanded. Not even 20 years ago there was a lot of tension between them and the latin community as they pushed south and east. If they just want to be left alone, that’s fine with me, but then return the favor.
A great example of how out of touch the Satmars are with the rest of the world came on Marathon Sunday. Every year the marathon comes right through Williamsburg. For days before there were signs and police barricades going up. Then during the thickest part of the run, at the corner of Broadway and Bedford, a gaggle of Hassidic women with their 3+ wide strollers and assorted brood were arguing with police about why this was happening and why they couldn’t stop the marathon so they could cross the street. Oy Vey.
Wow – those AC units really are an eyesore. As for the rest of it, lets face it, 95% of the new condo developments are off-the-shelf “luxury” – uninspired, cookie-cutter, nice-enough finishes, median-quality workmanship, and all around run of the mill. Think Toll Brothers will do any better? As for the appliances, who really cares – if you want Viking or Subzero, put it in, and sell and the Profile stuff on Craigslist (hell, I’d take it).
As for these rest of this thread, I think SL will always only appeal to a limited segment of the population. It IS extremely isolated – easy 20 minutes to the L train, no decent shopping within a 10 minute walk, 15 minutes minimum to get to the northside for shopping. There is one restaurant nearby (thankfully a great one).
Between Gretsch, Kedem, Schaeffer and the miscellaneous Broadway developments, there should be some influx of commercial development – Broadway would seem to be the natural place. So over time, this area will become less isolated.
But no way this area holds a candle to the waterfront development on the northside (Edge, etc) – they are close to many restaurants, subway (overcrowded though it may be), and a huge park (ok, someday, but still). And, there will probably be a water taxi stop there too.
I’m glad S.Will likes SL – I only know one or two people there, but they seem to like it too. Its not for everyone, but for the right person, its a great place – fantastic views, easy access to Wall Street (and the water taxi does rock), etc. But its really not “Williamsburg” (for better or worse). The parallel that comes to mind is Battery Park City – also isolated and with its flaws, but also pretty popular.
Wow – those AC units really are an eyesore. As for the rest of it, lets face it, 95% of the new condo developments are off-the-shelf “luxury” – uninspired, cookie-cutter, nice-enough finishes, median-quality workmanship, and all around run of the mill. Think Toll Brothers will do any better? As for the appliances, who really cares – if you want Viking or Subzero, put it in, and sell and the Profile stuff on Craigslist (hell, I’d take it).
As for these rest of this thread, I think SL will always only appeal to a limited segment of the population. It IS extremely isolated – easy 20 minutes to the L train, no decent shopping within a 10 minute walk, 15 minutes minimum to get to the northside for shopping. There is one restaurant nearby (thankfully a great one).
Between Gretsch, Kedem, Schaeffer and the miscellaneous Broadway developments, there should be some influx of commercial development – Broadway would seem to be the natural place. So over time, this area will become less isolated.
But no way this area holds a candle to the waterfront development on the northside (Edge, etc) – they are close to many restaurants, subway (overcrowded though it may be), and a huge park (ok, someday, but still). And, there will probably be a water taxi stop there too.
I’m glad S.Will likes SL – I only know one or two people there, but they seem to like it too. Its not for everyone, but for the right person, its a great place – fantastic views, easy access to Wall Street (and the water taxi does rock), etc. But its really not “Williamsburg” (for better or worse). The parallel that comes to mind is Battery Park City – also isolated and with its flaws, but also pretty popular.
here are some actual pics of a shaefer landing property, and it’a ain’t pretty.
they want 1.2 million.
http://newyork.craigslist.org/brk/rfs/290542486.html
If you do anything in the city on the weekends, then Williamsburg is better than Honoken or JC. Cabs go there, you have a choice of 2 subways, or a $10 ride from Northside car serviec, located up the street. How could you even compare the 2, apples and oranges.
Depends: if you’re in the NW corner of Hoboken it is even more/as isolated than far South Williamsburg. SW and Central W Hoboken have projects as well and as someone who has relied on the PATH train I would absolutely prefer the JMZ. Plus, Hoboken on the weekend is a NIGHTMARE.
you can forget about PS17 if you want your kid to do well. Thats just neighborhood hype.
PS34 or 31 are both good – but you won’t be zoned for those unless you live in Greenpoint. Southside is well off.
If you are renting hoboken is better, look at the state taxes you don’t pay.