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Does anyone know how sales are going at the Edge in Williamsburg? I haven't seen any info on here. Thanks.
it's strange that there's no info on streeteasy as far as pricing, square footage, availability etc. even though they seem to have an ad on the site. i've noticed TDG is not listing a lot of its new properties, including Nforth. is it s new strategy to withhold relevant info from smart buyers who would like to do comps?
i've noticed also that aptsandlofts is also doing the same with its new properties from warehouse 11, to soleil and factory lots, etc.
it's interesting b/c by withholding info they are really limiting their market for potential buyers... wouldn't that backfire on them?
according to the developers group they have 5% contracts signed and another 5% out. from my initial visit to the salescenter, it appeared they had less than 10% of total units released. i do want to disclaim that i originally had a contract out but decided to walk away.
The Developers Group is terrible. Their website is full of inaccuracies. We looked at a couple of their buildings, and found out that their listed square footages were wrong for several 2 bedroom units, and after we walked away from them, they kept the unit status "contract out" for months. And we caught one of the associates flat out lying to us about one of the amenities. I would not do business with them until they improve.
purpletulip95--do you know of a better group in WB? it seems like TDG and aptsandlofts are the only ones with new properties on the market (Core i think is one exception however). But it seems like TDG has 3-5 new properties coming on line the next couple months.
to nyc08's point regarding the limited info, i was at an open house over the weekend and the party line was that they were 'testing the water' to set prices...
Toll Brothers represented their product pretty well(North8 and Northside). I got printed floorplans and up to the minute current listings, and spoke to a broker directly at their sales offices. Plus Halstead's website was pretty good for showing Toll Brothers' sites, including the one in LIC. But aside from them, I can't comment on the other developers in Williamsburg. I haven't focused on Brooklyn much. Williamsburg condo prices are pretty high, considering the increasingly saturated market environment.
Broker told me that they have signed contracts for 75 units (approximately 10% of the development) and that they've increased prices ($15K - $50K depending on the unit) for units still on the market. Not sure if this is accurate. Has anyone heard of people negotiating for closing costs for this building.
I posted this under another topic. I have no idea who the developer is, perhaps this is your answer.
I must have crystal ball. The only difference is I was using LIC as the example. This is worse since brooklyn is thought to be a stronger area. Taken off curbed:
Guess The Delinquent Brooklyn Condo —"Mission Capital Advisors, a Manhattan-based boutique investment bank, was retained in April to sell $28 million in mortgage loans after a lender put a condo on the Brooklyn waterfront into technical default. As of last month, the 75-unit apartment building, which is 90 percent finished, was trying to rectify the situation and find a buyer for its debt. Mission Capital declined to name the developer and the address, citing the sensitivity of the deal, but said the developer was current on interest payments and only put into default because it missed construction completion dates and unit sales targets." [The Real Deal]
dco - that article is definitely not about the Edge. the Edge is a much larger development.
No problem, however I'm curious especially that's in the area of the water front.
there is a yahoo group/blog
This is a group for open discussion of Edge related issues amongst contract holders and serious buyers. You must be a contract holder or serious buyer to be a member of this group.
Anyone affiliated or employed by the Developers Group, Douglaston Development, Levine Builders or any other company or organization involved with the marketing, selling, construction, development, or financing of the Williamsburg Edge condo is not eligible to join this group and must declare him or herself to be so.
After negotiations and back and forth discussions the situation at Williamsburg Edge has been resolved. I will be moving into the building next month.
I do not wish to receive anymore communications on this matter