Toll Even More Serious Than We Thought About Price Cuts
It seems that the price cutting situation at Northside Piers in Williamsburg is more widespread than we or Curbed thought. A tipster points out that some of the higher-priced units actually got huge price cuts but didn’t show up on StreetEasy with a down-arrow next to them. To wit: Penthouse 2 was massacred from $2,019,990…
It seems that the price cutting situation at Northside Piers in Williamsburg is more widespread than we or Curbed thought. A tipster points out that some of the higher-priced units actually got huge price cuts but didn’t show up on StreetEasy with a down-arrow next to them. To wit: Penthouse 2 was massacred from $2,019,990 to $1,274,990; PH3 from $2,111,990 to $1,350,990; PH5 from $1,680,990 to $1,095,990. Holy crap. What will the ripple effect be? GMAP
Oh, I see, there is a 3br for 1.35MM, but the common charges are 1447/month. Maybe that could lure a potential brownstone buyer? I don’t know…
Has anyone been there lately?
They are building the second building about six inches(OK, about 30 feet) away from the first building. Blocking the views, the light and whatever else there was.
I do not know which way these penthouses face, but unless the first bulding is significantly taller than the second, it could get a little crowded up there.
I completely agree with MM. Was there ever a big demand for multi-million dollar condos on Williamsburg? Wasn’t it just irrational exuberance on the part of developers whose motto must have been: “Build it and they will wildly overpay”
If a two bedroom is all you need/want, then why would you be looking into buying a townhouse in the first place? You’d be renting at least half of it out if you are only going to use 2 bedrooms.
that penthouse would get you laid in a second.
might be worth the 1.2 million.
If they’ll give me a yard where i can grow toms and flowers, i’ll take that three-bedroom.
As a waiting-thinking-wondering potential buyer in Brooklyn who prefers a brownstone to a condo, I have to confess that at some point, the value proposition of a dramatically discounted condo becomes too compelling to discount. I have a couple of “musts” and desire as I might a townhouse or duplex, I’d be foolish to pay too much of a premium to live in the brownstone belt.
Maybe I’m just overly cynical today, but I don’t see how this affects anything other than the superduper Wmsburg condo market. Is there really that much of a clamor for multimillion dollar Williamsburg condos anyway? Was there ever? I can understand well off trendsetters buying below a million, but 2 million?
Seems to me the whole area was hyperdeveloped anyway, with everyone trying to piggyback on the success of the first few buildings. By the time this one was built, it was already over, the euphoria was wearing away, and it was a crapshoot that this buildings perks and the apartments themselves would cause them to fly off the shelves.
Eh, just my jaundiced opinion, as I don’t get the appeal anyway, although I certainly don’t knock anyone’s choices to move wherever and into whatever they want.
What about browndos – how are they doing?