anyone in contract at the edge?

anyone have any knowledge as to the real state of things over there?

concernedbuyer, I don't know much, but I don't think there's much public info out there. They're still playing things very tightly, though I have heard rumblings that they're much more open to negotiation than they were 12+ months ago. How much, I don't know, and I'm sure it depends on the line, floor, etc. I've also heard there's no underlying mortgage on the property, which alleviates a fair amount of pressure from the banks, but there's still their equally massive neighbor to compete with. I'd expect closings at some point in 2010, which should help move things a bit, but don't imagine this will sell out for several years. And I wouldn't count on the second tower coming up before 2011, if that.

"concernedbuyer,I don't know much"

You finally admit.

mutombotroll, you've got mail.

they are playing things tight but theyve told me that they are 30% sold..or at least in contract i guess..I would think there must be someone on here that is a part of that alleged 30%.

bjw2103,

Your dismissed.

concerned, that number must be in contract, as I've seen no reports of any closings yet. Clearly, buyers could be walking away in the end, but there's no way of knowing much right now (hence, some of the silence on this thread for now - there are other Edge threads here if you search the archives, which are also filled with mutombo's idiotic comments and poor spelling, but otherwise worthwhile if you haven't checked them out yet).

closings wont happen till march at the earliest..so until then I have to go by what the sales people say. Im using NSP as my comps..thats a fair arguement right?

concernd buyer i recommend u also ask them if that's 30% of the total units or 30% of what they have released for sale so far?

concerned, NSP is certainly valid for comps. Most people seem to think the Edge is a slightly better product, but it's really the best comparable.

yes...30% of what is important. I hate having to fly blind on this

i would be willing to bet it is not 30% of the total bldg-- no way!

Actually, I'm fairly certain it's 30% of Phase 1 (which is technically 2 buildings), which is 575 units (give or take, considering I'm sure there will be combo units). I'm hazy on the timeline, but I think it was about 12 months ago they were saying ~100 contracts signed, which would be. That would mean an average of 6 contracts a month, which is in line with what they've said (and pretty slow, so I'd say it's fairly credible).

bjw that is correct...it is 30% of the total phase 1, or so I've been told anyway.

concernedbuyer...check out the other discussion boards on the Edge. Most of your questions should be answered there.

In October I was told closings were going to begin in the taller of the 2 towers in January with the shorter beginning in April. We went by this weekend and there is still a lot of work to be done. We are in contract in the smaller building and hope it won't be pushed too much further than early summer as we have our rental to contend with if it does.

mikolinski- care to comment on the developers willingness to negotiate. I find it hard to believe that they found 160+ people in this day and age to sign contracts on an uncompleted bldg at those prices.

they indicate the discount is roughly say 10% off orignal ask, or maybe 15%....which seems paltry given that it was originally priced for peak times....

all I can say to that is we got exactly what we wanted for the price we were comfortable with (original asking) and we went into contract a while ago. did we maybe pay too much...perhaps, but we are happy for what we are getting and what we paid. I think that anyone that went into contract at original asking price did so on the very desirable units and any that were less than desirable are now negotiable. I have no insight as to the validity of saying this, just my opinion.

thanks mikolinski. paying close to ask is definitely out of the question. the first time visited there they told me 8-10% off list and closing costs. I really dont think thats enough.

Williamsburg........................

It is ALIVE!(spoken in a Dr. Frankenstein like voice)