Price Cuts Lead to Feeding Frenzy at Warehouse 11
Evidently if you price condos at $550 a foot in prime Williamsburg they will sell. That’s the lesson from last week’s open house at Warehouse 11, the 120-unit, Karl Fischer-designed condo that’s staging a remarkable turnaround. Earlier this month, aptsandlofts.com relaunched the building’s sales process by slashing average asking prices from over $700 a foot…
Evidently if you price condos at $550 a foot in prime Williamsburg they will sell. That’s the lesson from last week’s open house at Warehouse 11, the 120-unit, Karl Fischer-designed condo that’s staging a remarkable turnaround. Earlier this month, aptsandlofts.com relaunched the building’s sales process by slashing average asking prices from over $700 a foot to the mid-$500s (with some as low as $450). Last night was the first time buyers could step up, and step up they did. According to a NY Post article today, 34 offers at full asking price were accepted last night (while another 20 or so below asking price were rejected); thirty people were lined up ahead of time to get in the door first. Don’t get too excited though—at some unknown milestone, prices are going to be raised again.
Open Fire [NY Post] GMAP
34 Accepted Offers in One Night [Curbed]
20% Off at Warehouse 11 [Brownstoner]
Warehouse 11 Seeking a Savior [Brownstoner]
rob,those people in their early 20’s are trustufarians. i know, life’s a bitch.
Wow, definitely a lot of emotion in this discussion.
I’m not taking a side, but reasonably in a city of 8 million or so people, where jobs are not evenly disbursed (geographically), everyone will not be able to live close to where they work. That’s further exacerbated by the fact that New York, as a worldwide hub of commerce, has a lot of people making a lot of money, and many of their offices are concentrated on the lower half of a narrow island. They have to live somewhere.
Aside from having the government subsidize housing for everyone, or freeze rents/prices, what’s the solution that keeps people of modest means from having to move further out?
By the way, I keep saying fireman and teacher because we know what they make and WE pay them. I would also like to have the dress shop assistant, the bodega cashier, the waiter and the pet store owner to be my neighbor. Rather then shipping them in each day.
It’s not complaining… You just see it that way because you don’t seem to give a shit about this city.
It’s actually a desire for Brooklyn to not transform into a wasteland of the wealthy with anyone with a household income below, say, $100,000 having to be trucked in each day like day laborers. I’d like the shop keeper and school teacher to be my neighbor.
Previously, it didn’t matter than Manhattan was ridiculous and you couldn’t afford to live there. There was Brooklyn and Queens. But they are being transformed into the same absurdity that has befallen Manhattan.
play nice guys! you’ve both made good points
*group hug*
I’ve never heard someone complain so much in my life.
I have ZERO idea why you live here based solely on your commenting history.
Because everyone goes to Manhattan for work, right?
And MOST PEOPLE DO have a problem with the train!!!!!!! They just have no choice. Because they can’t live anywhere close to their jobs.
Oh and your estimates are ridiculous. As long as you found an affordable place to live that requires a direct subway train from your apartment to your work. No buses or transfers or walking!
quote:
I have 1 friend who is teacher and lives in very nice house in Forest Hills (not FH Gardens but on edge) and another who is teacher but not even public school so makes less who lives in new construction in SunsetPk duplex with huge terrace and garage that I envy.
lol. and let me guess. both their husbands are lawyers :-/
next, dumb examples?
*rob*
Well since you’ve overestimated the time it takes to get to these places, Ty it’s very hard to argue with you.
From midtown to Jackson Heights is about 20 minutes.
From midtown to Bay Ridge is barely an hour.
From midtown to “far off queens” is barely an hour.
From Park Slope to midtown is an hour.
From the upper west side to Kensington is about 45 minutes.
Listen…if you don’t want to commute, you should find a job working from home, but most don’t seem to have the same issue you do with the train.
I travel 45 minutes each way to work and have no problem with it. I enjoy reading, listening to music and people watching.