building at 1 Powers Street

i went to the open house for this building and it looks pretty good. i like the location a lot (my own opinion) and the asking prices are not too high as compared to the rest of the area.

Saw the building today and it has a lot going for it. Wondering along with OP if anyone is privvy to what sort of negotiating room is available here. Broker says there's a small amount of wiggle because they're priced to sell. I'm thinking 10% off and closing costs. Thoughts? Anyone else nibbling here?

hi shamrock,
i might go to an open house next week. do you know how many contracts they have signed or how many accepted offers? i'm interested in a 1 bed apt. i've been following prices of new construction close to the bedford stop, but not too familiar with those on the other side of BQE. you think this one is priced reasonably?

It's hard to know for sure although I was told 7 signed with others out. In terms of price I think it's close. I've literally seen everything else, including LIC.

developers are finally realizing that to move units they need to have somewhat reasonable asking prices and i think this building fits that criteria. i am told that most if not all the one bedrooms are spoken for with accepted offers at this point. i too have spent quite a bit of time visiting open houses in williamsburg, astoria, and LIC.

thanks enyce. that's too bad if all the 1 beds are no longer available. but hopefully, other developers in the area will start to bring their pricing in line....

I went to an open house here today (11/15/09) and was curious about the construction quality. Any one know anything about that? Pricing is good but construction didn't seem to be quite as thorough as some other buildings. Sound proofing too? Anyone know anything?

looks kinda cool. another one to check out next weekend

in terms of construction i've seen better and i've seen worse..

The good thing is you can walk into the unit you're interested in and inspect for leaks, since we've had
some rainy days. I was at another place in the 'burg where the model apt. was actually leaking. So it could be worse.

Re: 1 bedrooms - according to SE and Aps&Lofts own websites, plenty of 1 bedrooms are available still. There are 66 units in this building. A&L has only listed about 15 at a time, and only 3-4 seem to be in contract! Don't listen to broker BS. They are trying to sell this building, and will say just about any untruth to get you to think that units are moving fast.

The pricing is still high. It's not even in Bedford - it's off the Lorimer stop. It's surrounded by new construction condos-to-buy gone "luxury" rentals. Pricing should be under $500/sq ft!

thanks mjun.

SE lists 66 units but i only counted 31 in the building's website for all 6 floors. it is possible they changed the floorplans to have lesser number of units?
i was told most of the 1 beds had accepted offers, and the ones that are left are out of my price range (i got pre-approved number from my bank before looking). if the prices got lowered, i'd be interested again.

there are 31 units in the building, not 66. 9 of the 31 are one beds. the remaining 4 available one beds that i know of are expensive (the larger units on the higher floors). i've walked into every single unit in this building.

very noisey as it faces Union Avenue. Over priced, inventory levels extremely high in williamsburg...expect at least another 25% drop in williamsburg condos. There's so much inventory and frozen projects in W'burg that it's hard to imagine not a significant retraction in price per square foot.

happy hunting.!

Thanks for the correct info re: #of units enyce - that makes more sense with really only 5 floors (1st floor is commercial space) and about 6-7 units on each floor.

James82 - I agree, Union Ave is noisy!

I was a little disappointed in the quality. The floors were a bit unsettled and felt cushy. I would have to agree. I could hear the bus honking at the stop light. Not the right place for a light sleeper.

i finally got to see this. looks good, but they probably could have done a teeny better with the quality of finishing. seems like a nice building though. anyone in negotiations for the building? id be interested to know what kind of concessions the developer is giving pricewise.

i saw the building and do like the location. very convenient with the BQE, williamsburg bridge, and L/G subway lines right there. as for the quality, it is not shoddy by any means. i have seen a lot worse.

i've also looked at 105 ainslie, and the keap street lofts in the same area. ainslie had very nice build quality. now keap st, in my opinion, had very questionable finishing.

I have a signed contract on one of the 2 bedroom units in this building. I would love to get a dialogue going with other people in my position, or those seriously looking at 1 Powers. Best address ever, 1 Powers :)

Hi Dane. I too have a signed contract on an apt at One Powers. -MaryAnn.

Great to hear MaryAnn! I've started a google group, go to http://groups.google.com/group/1-powers and ask to become a member (I'm doing it this way so people don't have to put their email on streeteasy if they don't want to). Lets see if we can get some more people on board.

For anyone else interested in joining, go ahead and contact me.

Does anyone know when the Certificate of Occupancy will be available for 1 Powers? I was told "very soon" - about a week or so- by the apt and lofts agent. Has anyone had any problems getting into contract? Would appreciate any advice since we are seriosly considering going into contract on a unit here.