Condo of the Day: 125 North 10th Street, #NPHD
The new development at 125 North 10th Street in Williamsburg was a little late to the game, hitting the market last March as the world appeared to be collapsing. It took another six months for reality to set in: Across-the-board price cuts were instituted last week. This three-bedroom penthouse, for example, started out at $1,540,000…
The new development at 125 North 10th Street in Williamsburg was a little late to the game, hitting the market last March as the world appeared to be collapsing. It took another six months for reality to set in: Across-the-board price cuts were instituted last week. This three-bedroom penthouse, for example, started out at $1,540,000 and is now $1,200,000. Still not giving it away but certainly a step in the right direction.
125 North 10th Street, #NPHD [Core Group] GMAP P*Shark
no floorplan — just some mock up photos – who can tell what it’s like?
Lots of buildings aren’t even bothering to do price cuts in Williamsburg for some reason.
I was keeping an eye on 229 N8th for a bit – their 1 bedrooms were 430ish, and I would have been interested if they got below that 400k threshold (would have been cheaper owning than renting a similar space)
I think they were on the market for less than a month – and they turned rental charging 2600 for a 1 bedroom per month.
Yes, there are people living in them now oddly enough.
I think people have touched on this issue before that the developer has to get permission from the bank to be able to drop prices on these types of places (as well as lowering rents) – so the issue appears to be a tad more complex than the developers being stubborn.
Sorry, but Maly is a much more informed (and level headed) poster than you are, wine lover.
You are completely, 100% unable to see the downside to anything in Williamsburg and every single restaurant, new piece of crap development that hits the Brownstoner airwaves, you are the first to say it’s the best of the best. It’s actually so absurd, that whenever I see something about Williamsburg, I *know* there will be a comment from you and I *know* it will be a rave review no matter what it is.
It’s laughable.
I don’t believe that ANYONE here really cares what you think about anything. #1 because you are racist and #2 for the reason I mentioned above.
I don’t think I am ill informed. I don’t expect you to be fair and impartial (after all, it is where you live), but look at this listing and search for yourself, 3 bedroom condos under 1,500 square feet. You can find condos all over Manhattan for prices similar or under the prices in Williamsburg. It is ridiculous, and the main reason why sales there have stalled.
Make the price 30% under downtown Manhattan, and sales will pick up again.
As nice as some of the views are, you can rent in BPC for less than the cost to own in Williamsburg (if river views and long walks to the subway in freezing windy weather are what makes you happy.)
quote:
Believe it or not – external asthetics are probably not that important for alot of people buying condos.
no i believe you.. ive seen how some people dress who have bought in the new condos in my neighborhood. gack
*rob*
wrong link
this is a very well done building. walked past it this weekend. it’s really nice. not sure that you can judge by this pic. apts facing berry (the shot above is N.10th) have really interesting big covered terraces that i was coveting. they seemed like whole additional rooms.
fyi – there’s extensive talk about this building on StreetEasy because some consider it to be one of the better or best of Wburg new developments (the edge may prove to be better, but it’s not built yet). many owners have moved in already.
it’s a great location, and will be OK long term.
maly – i think your comment is just plain ill informed. Wburg pricing is not higher that Manhattan and isn’t even higher than brownstone brooklyn in general. specifically expensive apartments may have to be inspected to understand their pricing (not just in this economy btw) because some apts in Wburg have outstanding manhattan views and of course, like anywhere, features, quality, location, etc… come into play.
I walk by this building often and it’s actually growing on me
Sure, it looks sort of like an office building in south florida – but dare I say the actually apartments look very nice (from what I could see looking through the window)
Believe it or not – external asthetics are probably not that important for alot of people buying condos.
This is the link for the HOTD @ 233 Garfield Place.
Anyway, to get back to the prices in Williamsburg: it’s probably one of the few places in NYC where prices are going to have to go way down before it makes sense to buy. There are so many apartments, and the initial asking prices were so incredibly high. With Manhattan prices adjusting, some of those listings are now more expensive than downtown Manhattan, and about twice as expensive to buy than to rent. I don’t know why they don’t bite the bullet and get it over with.
did you accidently switch a picture of a high school campus from Hohokus NJ? that is one seriously fugly building (on the outside).
*rob*