sq ft for williamsburg

$150.

Lenny, can yu be more specific about the property you have in mind

$450

For North Williamsburg:
70 Berry is a near sell out in 4-6 months at 600-650/sq ft.
Warehouse 11 seems to be moving at 600/sq ft despite its history and warnings on this site.

So I think 600/sq ft at this time is reasonable.

Lenny i'm afraid kiz makes the salient point here. Your question is way too broad and not specific enough. Where in wburg? What kind of amenities? ect, ect.
And yes lookpied those are accurate psf assessments for north wburg. Btw 70 berry is sold out.

and 70 berry was sold from the low $600's to the low $700's psf

Lookpied, i don't think that wahorehouse 11 defines the price for the rest of the market here bec of the many issues they have had (whether real or perceived). I would think most buyers would be willing to pay some premium to buy elsewhere, where such problems do not exist (or at least are not public) I'm quite surprised that they inked as many deals as they did at that price, if there are so many people willing to pay 600psf to buy there i would think places priced slightly higher would fly off the shelf.

Kiz,
I agree about W11. But there does seem to be movement in the 600-700/sq ft. 14 Hope St. seems to have moved some as well as 268 Wyeth. 90 N. 5th (my building) hasn't moved but then it is in the 700+ range with recent price cuts. So I think 600/ sq ft would be a good starting point.

I agree, but whatever w11 sells at would not be what i would expect to pay elsewhere bec of the quality issues. i think that 600-700 is a very reasonable range. Some of the more stubborn developments seem to be quietly slipping into this range.

Kiz,
I'm looking in North Williamsburg...northside, the edge & Metropolitan. I know prices have come down but i was wondering what is reasonable to pay taking into consideration that I plan to be here for 5yrs.

I'm about to go into contract for The Edge and the negotiations have been going in my favor...I believe they have soften up in recent weeks..I'm pricing at $715/sq ft. Again for The Edge, you have to factor in what floor your going into. I hoping to stay in for minimum 5 years...FYI they will not be changing common charges until all the amenities are up, I'm looking at 6-8 months common charge free.

"FYI they will not be changing common charges until all the amenities are up, I'm looking at 6-8 months common charge free."

Got that in writing?

Do common charges usually change?

j1972,
I am leaning towards northside but the edge is tempting because of all the ameneties(for selling purposes in the future). The common charges are also similar. Any advise would be appreciated.

Thanks NYC Matt I got that in the contract as agreed.

Lenny79, as a consumer and and architect I have to say The Edge is the superior of the two in terms of the building construction and the finishes are high in terms of quality and detailing. The pool is going to be stunning. Both development have great views. Personally got a corner unit that faces north and east with partial river views looking north.I like the East view over looking Brooklyn more than the river views.
One thing you must take note if you go into the Edge is the phase II development which will block views of some west and north facing apts. The sponsor's say phase II wont go into construction for another 6-8 years pending construction loans. They are pricing lower those units with future obstructed views. It was a tough choice but I went for the Edge over a unit in 80 met after weighing the pros/cons out. Good luck and let me know if you do go for the edge.

"The pool is going to be stunning."

Provided it actually happens.

j1972--is the edge covering closing costs? any other incentives?

LookPied- how is 268 wythe doing. i see the units are in contract, the place looks done but no closings? the structure itself looks a few weeks away from being abandoned

J1972,

What floor are you getting for $715 per sf?

closing cost is being cover by the sponsor, in getting into the 15th floor for $715/ sf

NYC Matt, what do you mean "Provided it actually happens"? is there a possibility the pool might not be completed?

J1972,
I hate to ruin a new friendship but disregard nycmatt when it comes to comments regarding wburg. He is a basher of the nabe. Notice that at the top he estimated the acceptable avg $psf at 150$ psf. By his math you overpaid by 565$ psf.

Thanks for the heads up Moxie...are you thinking of getting into into The Edge?

i bought at 70 berry...The Edge is very nice..wish you the best

when calculating cost psf, how does outdoor space enter in? Do you count it? As 1/2?

i like 70 berry very much as well, but came in too late to get a unit there...I'm hoping for good things for The Edge, esp, in the long run

Loftydreams, when I calculated my cost psf, I calculated just the net sf, no outdoor space.

J1972 - are you including the closing costs in your psf?

gabe, that's a good question..I did not include closing cost in my psf because I negotiated for the sponsor to pay for it

Kiz,
I don't have any inside scoop on 268 Wyeth, just what's on Streeteasy. I don't know specifics on this building but the inspection process seems to be slow and lengthy. In 90 N. 5th, they had their final inspection about 4 weeks ago and said that it would be several more weeks before they are given the CO. The broker said closings will be scheduled "soon" . I haven't heard anything yet.

Got it. In theory you could have lowered your psf by deducting the closing cost from your purchase price.

J1972, so you got 10% off the price plus all closing costs?

ingenieur, yes I did

If anyone is still looking at this thread...what is the latest for $sf, now that that fed incentives are over for first time home buyers. We are looking at those listed above and 125 N 10.

It's a little too early to judge the effect of the expiration of the tax credit. There is still movement in condos in the $600-700 /sq ft range. Recent sellouts or near sellouts include NV and 14 Hope, and their recent sales were for pricier units. 90 N 5th has floundered since my last post but there has been a flurry of recent activity due to the recent price cut and now an offer by the sponsor to pay closing costs.

There has been 3-4 new buildings hitting the market recently, and some significant price cuts at 1 Northside Piers and 80 Metropolitan (which puts their lower priced units in the $700/sq ft range). So there may be additional downward pressure on the prices in the area. But so far I think the floor is holding at $600-700/sq ft for north Williamsburg.