Toll Brothers Gets Serious About Selling at Northside Piers
This may be looked back on as the moment sellers came to grips with the market reality: Yesterday Toll Brothers whacked prices on 36 units at the Northside Piers, its luxury waterfront project in Williamsburg. While these are hardly the first en masse price reductions we’ve seen, they may be the first example of large-scale,…
This may be looked back on as the moment sellers came to grips with the market reality: Yesterday Toll Brothers whacked prices on 36 units at the Northside Piers, its luxury waterfront project in Williamsburg. While these are hardly the first en masse price reductions we’ve seen, they may be the first example of large-scale, high-percentage cuts at a top-tier development. Take Unit 11G, for example: The 1,244-square-foot three-bedroom just went from $1,208,990 to $894,990, a dollar reduction of $314,000! And Unit 9G: Was $1,160,990, now’s $884,990. Prices on most of the other units were reduced only 10 percent or so, but still, this shows that Toll is getting serious about selling this stuff.
Development Watch: Northside Piers From Above [Brownstoner]
Putting the Pier in Northside Piers [Brownstoner] GMAP
Sales Begin at Northside Piers [Brownstoner]
Toll Brothers Making Less Money [Brownstoner]
The Edge Tops Out [Brownstoner]
“BHO What’s Cracking Homeboy??”
What’s good, What? Hit me with your classic Appocalypse Now quote.
***Bid XXXX [three quarters] off peak comps***
With prices dropping like this, “Brownstones Half Off” will have to change his handle to “Brownstones 25% Off” soon.
What –
I won’t be buying a condo there because I don’t want to live in Williamsburg, but the chances of me buying a condo/co-op in Park Slope / Prospect Heights within the next year are fairly high. That or a brownstone in Bed Stuy / similar.
Then you can call me an asshat and hope I get mugged. It’ll be great.
Uh……That article was from August.
What –
“That new whole group of “gentrifiers” are going to get robbed and having their asses kicked.”
Then please put a offer in. If you believe in the Magical Rainbow then please by all means buy a Condo in this development or any other.
“Improbable. Crime will go up a bit, sure. Always does in a recession. But tons of neighborhoods in Brooklyn going suddenly swarming with thugs? Highly unlikely.”
I remembered this story and wondered why Brownstoner ignored it.
http://ny.metro.us/metro/local/article/A_spike_in_crime_has_Williamsburg_wary/13499.html
A spike in crime has Williamsburg wary
Talk of machetes, gangs rampant in Brooklyn hipster haven
“My friend said they’re attacking white hipster boys on bikes,†Neil Campbell, a tattooed South Fourth Street resident who fit that bill, said.
Last month, Richard Duran, 22, who residents say was not a gang member, was shot at the bus depot on the South Side near the Williamsburg Bridge. Some believe the shooter was a member of the PBGs, or Pretty Boy Goons. Later that night, young men with machetes — allegedly Trinitarios — slashed two people on South Third Street near Bedford Avenue.
This is why I want you to stay here after the collapse of the Mutant Asset Bubble. I want to believe that you will be “OK” is these neighborhoods……
The What
Someday this war is gonna end…
> “What about me?? I have a hard on right now!”
I’m firing up my electron microscope now to confirm your claim, and will get back to you. Thank you for your patience.
the pricing for this building is a mess. Apt 22H is 789 sq ft at a price of $584,990 which is $741 per sq ft. 21A is 512 sq ft at $529,000 which is $1,033 per sq ft.
Um, um….Is the almost $300 a ft extra for a view? This is silliness.
cornerbodega –
“Do you have 20% for an $750k place” – Not yet, but it’s building.
“perfect credit” – 780 for me, 777 for my wife, both debt-free.
“secure enough to make payments on a jumbo loan?” – yes, though I don’t think I’ll have to take a jumbo loan, as we don’t plan on spending more than $625k for a place.
Look, I agree there is still more to drop. I don’t believe we’ve hit bottom yet, especially outside of the multi-million-dollar brownstone areas, and especially in the condo market. I just don’t think that Williamsburg is going to go back to being cheap and decrepit.
I am somewhere in between “team bull” and “team bear” in my outlook.
What –
“That new whole group of “gentrifiers” are going to get robbed and having their asses kicked.”
Improbable. Crime will go up a bit, sure. Always does in a recession. But tons of neighborhoods in Brooklyn going suddenly swarming with thugs? Highly unlikely.
I know many people like myself who are just waiting for prices to come down a bit more before they jump into the market.
cw, you’ve been hanging with the idiot minds too much, its got to drop a whole helluva lot more for your “new group of gentrifiers”. Do you have 20% for an $750k place, perfect credit and secure enough to make payments on a jumbo loan?