That Was Fast! 72 Berry Sells Out
Call it the little condo that could: Williamsburg success story Mason Fiske, aka 72 Berry Street, is now completely sold out, according to its broker. The converted industrial loft hit the market at the beginning of March, and 17 of its 26 units were in contract by early April. Units in the project were asking…
Call it the little condo that could: Williamsburg success story Mason Fiske, aka 72 Berry Street, is now completely sold out, according to its broker. The converted industrial loft hit the market at the beginning of March, and 17 of its 26 units were in contract by early April. Units in the project were asking around $650 a foot on average, about $100 less than bigger projects in the neighborhood like Northside Piers, according to the Real Deal.
72 Berry ‘Only Thing Moving’ in Williamsburg [Brownstoner]
The Only Project Selling in Williamsburg? [The Real Deal] GMAP
daveinbedstuy: When inflation does kick in do you think prices will have to rise a little bit ? Rents will go higher with inflation to, don’t you think?
Marty Whitman of Third Avenue, a pretty smart guy, continues to buy shares in Forest City Enterprises (FCE/A) of Ratner & Atlantic yards fame. The stock is bumping along the bottom and there’s been insider buying. They just raised $300 MM in the open market. The Ratners bought on May 14, just before the Appeals Court ruling was announced on the 15th and they said on the 18th that they’d break ground this year.
Yes sebb…its actually a bit worrisome, short term. They will get the aution done today and then there aren’t any more for awhile. rates could move back down, as they are actually doing today.
What, learn some economics.
“sebb….umfortunately during the period of highest inflation, the late 70s to the early 80s, things were completely different in NYC. It was a period of extremely high crime and the City nearly went bankrupt.”
Dave was you in New York during that time?????
“We will not reach those levels of inflation and the comparisons are useless.”
No we will get DEFLATION!!!!!! High interest rates and crashing asset prices.
I can’t wait until August…
The What
Someday this war is gonna end…
daveinbedstuy: I hear everyone is jumping on the TBT bandwagon.
sebb….umfortunately during the period of highest inflation, the late 70s to the early 80s, things were completely different in NYC. It was a period of extremely high crime and the City nearly went bankrupt. We will not reach those levels of inflation and the comparisons are useless.
I know this doesn’t help much but I don’t envision extremely high inflation. We will return to a level of inflation above the 2.0-2.5% that the fed is comfortable with and its the fed response that will drive rates.
I don’t think real estate will go up as fast as all other commodities because it is more difficult to finance this time around. Buy commodity based ETFs and TBT.
sweet rob – as crappy as rihanna’s music is – she is definitely someone I wouldn’t mind seeing while loitering infront of Balthazar. shwing!
daveinbedstuy: What is your understanding of where Home prices have gone in the past, when inflation levels have risen drastically.
lechacal: I understand.