The Edge Tests the Price-Cutting Waters
Contrary to what developer Jeff Levine indicated when he spoke last month at the Brooklyn Real Estate Roundtable, a first round of price cuts has started at The Edge in Williamsburg. According to StreetEasy, ten units have been reduced so far. One of them—Apartment #3G-N—had its price cut from $1,690,000 to $695,000 (which seems like…
Contrary to what developer Jeff Levine indicated when he spoke last month at the Brooklyn Real Estate Roundtable, a first round of price cuts has started at The Edge in Williamsburg. According to StreetEasy, ten units have been reduced so far. One of them—Apartment #3G-N—had its price cut from $1,690,000 to $695,000 (which seems like it must be a typo). A 654-square-foot one-bedroom which used to be $755,000 is now $530,000, a reduction of 30 percent. Think this will get buyers’ attention?
UPDATE: The Edge HAS NOT cut prices. There was a mix-up with how the price information was input. We now return to our regularly scheduled programming.
Development Watch: The Edge [Brownstoner]
The Edge Tops Out [Brownstoner] GMAP
The Edge Sells Burg’s Most Expensive Condo [Brownstoner]
Development Watch: The Edge [Brownstoner]
Development Watch: The Edge [Brownstoner]
Photo by mugsniffer
yup – but as always we agree the prices are way too high. Kent is NOT Fifth Avenue haha.
You’re right dirty hipster.
Now that you’ve brought this to my attention, I think they should raise the prices to 1.5 million for a 1 bedroom. 755K just isn’t enough for such a short walk and amazing location.
Even though they can’t sell any at the prices they’re asking.
Seriously though, you have a point about the West Village, although I don’t find the two comparable in the least. In theory anyway, mine is wrong. You have a valid point.
I also believe the housing stock in the far west village is more pricey then that located in the vicinity of W4th and 6th avenue.
FACT: The walk from Kent to Bedford is 5 minutes and change.
“Walks to and from trains do make a difference with pricing though. On the Upper East Side, there is a HUGE discount on identical apartments…one on York Avenue and one near Lexington Avenue. You do pay more to be closer to services….the farther you get away from Union Square heading out towards Avenue D, it gets progressively less expensive”
Ever look at the prices for places on East End Avenue? Or Fifth Avenue? More expensive then the buildings off of Lexington for sure. Not trying to compare those streets to Kent Avenue of course – but your theory is faulty.
11217, I agree that distance to trains makes a big difference. York to Lex is twice as long a walk as Kent to Bedford though.
Bjw2103:
Walks to and from trains do make a difference with pricing though. On the Upper East Side, there is a HUGE discount on identical apartments…one on York Avenue and one near Lexington Avenue. You do pay more to be closer to services….the farther you get away from Union Square heading out towards Avenue D, it gets progressively less expensive.
I agree…the view adds something, I suppose, but not enough for someone to pay 5K a month for a 1 bedroom.
11217, that’s one of the pricier 1BRs, and though I agree they’re overpriced, there’s no doubt that the views have a lot to do with the pricing there. None of that has anything to do with the walk to and from the train though.
Bjw2103:
They also don’t ask $755,000 for a ONE bedroom on either Myrtle or 4th Avenue.
LincolnSlope, the walk down North 7th is not bad at all. I’ll agree it’s not as pleasant in other parts of WB, especially in the eastern stretches. I don’t think that’s isolated to WB though – 4th Ave (not the mention the blechy parts west of there) is pretty awful, Myrtle in FG, those are not great for leisurely “strolls” either.