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
11:04- where is this Hasadim comment coming from? What is the relevance? “Not that it would be a problem…” lol
Disagree about DUMBO…it is still in transition…the services are coming (Foragers is great) and will continue to come as the new developments open and begin filling up (can you say pharmacy?)…as Bklyn Bridge Park, Empire Stores and development downtown becomes a reality, DUMBO will be a vibrant destination and a vital part of the Brooklyn community. Believe that!
I live in the building I AM NOT A BROKER, and yes, I’ve personally met 2 people that are flipping. I challenge anyone to find a building of this size (210 apartments) without flippers and investors.
10D never intended to move in, it was always an investment, someone mentioned to me it’s a guy that lives around the corner in the Gretsch.
There are 4 expensive penthouses available out of 17 units that were labeled as penthouses, not too bad. 15 out of 210 is considered “FAR from sold out”? Ummmm. Also, one of the units listed is a dummy listing, I personally know the girl that lives in that unit. There are NO 1 bedroooms left from the sponsor. Fact.
The watertaxi is easy, the JMZ is a bit of a hike if you’re not a walker, but when the weather is nice, it’s no big deal.
There are no Hasidic families living in the ‘luxury’ portion of the building, not that it would be a problem, but they live in the lower income rental portion of the building, which is a seperate address and entrance totally removed, you can’t even tell it’s there.
Some units have already been flipped and the new occupants are living in them. What dark windows? Every time I come home the place is pretty lit up.
We have a renter on my floor that seems really happy. He’s renting to see how he likes the ‘hood after moving over from the LES, then will purchase in the building or neighborhood if he does.
For the prices and the size and views, there is pretty good value compared to Manhattan and yesssss, it’s not Manhattan, but not EVERYONE wants to live in manhattan anymore, as impossible as that may be to some of you.
Can’t comment on Halstead vs. Elliman, I bought just before the switch.
It’s a bit distant from the L and Bedford, nice and peaceful, with great restaurants on B’way. But the B61 is a few blocks away if you need it, it’s also walkable, and we have a shuttle bus, who is complaining it’s inconvenient that actually lives here? I haven’t met them.
Check back in 5 years, it’ll be a whole different ball game sure, but I like it the way it is now too.
Where are you guys getting your info? So weird, it’s like I’m reading about a different building.
DUMBO is great, but I was only presenting what I’ve heard from a couple different friends who actually lived there. People who tried the place a while then chose to live elsewhere. I personally love the buildings DUMBO offers, and the views can’t be beat. But it always feels like a place to visit and not live, to me whenever I’m there, still. It still needs that extra “thing” to make it feel like a real neighborhood and community.
wow! 4 of the most expensive panthouses are still available and there is a blow out sale! (what does that mean?)on one of them.
http://halstead.com/detail.aspx?id=1085073
With the market this hot, this building will turn around quickly.
This is most likely a temporary “vacancy” problem. Schaeffer’s Landing has several problems creating lack of complete sell-out: 1) location is far from the L train. It is also a hike of 7-8 blocks to the JMZ train (you have the water taxi but people prefer the trains) 2) Price point is too high for hipsters, renters in the area 3) The timing is off for this building to be a success just yet.
Williamsburg in 5 years should be able to support these “uber luxury” buildings, but now, there seems to be the beginnings of market saturation in regards to condominum sales. The projects that are successful are those that are able to capture buyers on the middle-to-lower end of the scale. Think “The Maspeth” or “Aqua” or even smaller buildings like new projects on Humboldt St, Henry St, and Kingsland Avenue in Williamsburg. These are on the edge of the ‘hood and priced lower than the ‘hood pricepoint.
Disagree with the generalization about DUMBO. It’s unique and worth a premium in our opinion (though we’d only be buyers of the converted buildings, not the new highrises). You can add services but you can’t recreate a charming historic neighborhood.
I can’t see that 4th Avenue is a problem, if it is located in the vicinity of Park Slope. There are subways all along 4th Ave, and good amenities nearby. It’s just too bad the only option is pokey R train. The slower condo sales will be in DUMBO where it still feels isolated and like there’s nobody and nothing around, and in odd locations like this one that are not close enough to transportation. Once AY gets under construction and makes it impossible to drive or take car services anywhere for 15 years, the appeal of any location for a building or house will be all about which express subway it’s near. And IF it’s near one. IMO.