Taking the Edge Off of the Edge? Nope, It Turns Out
Is Jeff Levine rethinking the wisdom of his staunch no-price-cuts policy? As we mentioned a couple weeks ago, Levine, the developer of Williamsburg’s Edge building, told the Times “We have not reduced prices at all,” indicating that lower price tags weren’t part of his strategy for dealing with a slow market. (He also told the…
Is Jeff Levine rethinking the wisdom of his staunch no-price-cuts policy? As we mentioned a couple weeks ago, Levine, the developer of Williamsburg’s Edge building, told the Times “We have not reduced prices at all,” indicating that lower price tags weren’t part of his strategy for dealing with a slow market. (He also told the Brooklyn Real Estate Roundtable last spring that he had the wherewithal to wait for the market to rebound instead of jumping on the price-cut bandwagon.) But, according to StreetEasy, prices were cut on at least four units at The Edge at the very end of July; one such unit was a three-bedroom condo that went from $1,145,000 to $949,000. You buyin’? Update: We just heard from the broker for the Edge who attributes the illusion of price cuts to StreetEasy mismatching old listings and new ones. The four units that came up on StreetEasy as having been reduced on July 31 were, the broker says, new listings that StreetEasy misidentified as old listings. The official page for The Edge on StreetEasy does show not a single price cut; the http://www.streeteasy.com/nyc/sale/393818-condo-135-kent-avenue-williamsburg-brooklyn, which we were referencing, is where the confusion stems from.
135 Kent Ave. in Williamsburg [StreetEasy] GMAP
Jeff Levine: ‘Cockeyed Optimist’ [Brownstoner]
Jeff Levine Interview [NY Times]
Photo by Jonathan Scheff/Brownstoner
Looking for others who have put a deposit down on the Edge.
I have created a private google discussion group. Please send me an e-mail if you are a buyer and interested in joining to the-edge-williamsburg-brooklyn-buyers-google-group@googlegroups.com
babygreene, the low-rise buildings you see in the foreground are where the affordable housing units are. I don’t know much about them either, but I believe it’s all lottery-based. Retail spots haven’t been taken at the Edge as far as I know, but 2 spots at NSP are, just next door (Duane Reade and Mole, offshoot of the EV Mex restaurant).
What about the affordable housing allotment in this monster? Anyone know anything about that, or am I imagining that it existed in the first place?
Are any of the retail spots here taken? My guess is no. But wondering.
we just walked by EDGE last night.
it’s super F-U-G-L-Y from the pedestrian side. the portions you see in the foreground of the photo jut out all the way to the sidewalk. reminds me of the fulgy hi-rises in long island city, only worse. bleh.
I’d actually like to buy a one bedroom there (and almost did a year ago), but for a few reasons:
1) The apartments are too expensive.
2) They will be turned into rentals.
3) The amenties are too expensive to maintain.
4) The renters are going to trash the amenities because they have no ownership stake in their their cost to maintain and repair.
5) The mythical Water Taxi will let you off at 33rd Street & below the FDR…how do you get to a subway from there?
6) The L train is cramed full of people in the morning, the commute will be painful.
It is a bit amusing that all this hubbub is over nothing in the end. Looks like Levine and Douglaston are sticking to their guns for the time being. Not surprised.
quote:
I know they are different neighborhoods and it’s old vs. new, but why someone would pay 400K for a studio here instead of that 325K gorgeous studio in Ft. Greene highlighted today is beyond me.
um maybe cuz some people think it’s gross to live in old converted SRO’s for 1/3 of a million dollars and would rather buy something new with it. i saw that studio in the other thread, it was hideous. hideous like a crackhead granny lives there hideous.
*rob*
“Sounds like that point in time might be about now.”
Well he said it about 3 weeks ago, so if the time is now he does in fact sound like an idiot to decide to drop prices within weeks of saying they weren’t dropping prices.
The studios are around 400K.
I know they are different neighborhoods and it’s old vs. new, but why someone would pay 400K for a studio here instead of that 325K gorgeous studio in Ft. Greene highlighted today is beyond me.