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
Bait and switch by design.
***Bid half off peak comps***
Agree fully, LincolnSlope.
The problem is that the walk is also awful. I went last weekend to Williamsburg for a concert and was amazed at how weird it feels. It’s not the type of place, like Bayridge, or Park Slope, or Fort Greene, where you can take a stroll. I can’t put my finger on it, but it feels kinda gross to me.
Sometimes ditto. Depends how stoned I am.
I think levine probably needs medication on his pathological optimism.
11217 – do you walk in a zig zag and reverse every four steps?
Sorry, but I walk fast and it takes me 10-15 to walk from Bedford to the water.
11217, you keep propagating this myth that the waterfront is far away from the train. It’s a 5-6 minute walk tops (check Google Maps if you doubt it). Enough.
timing is not on the developer’s side. Tolls on the bridges not helping matters either (ie adds onto the list of hurdles). suspect most of these units will be sold to scavenger buyers who are circling right now waiting for prices to tank much further. Really not seeing any reason to rush in – especially when these could become reasonable priced rentals.