# of stalled project in Brooklyn on the rise !

This seems quite contrary to what's been going on in the past year or so. Maybe the 09 data point has something to do with it, but quite a few formerly stalled sites have started up again or even completed work. Regardless, the overall situation is still better than it was not that long ago, though there are obviously some stalled sites just sitting there still. Hopefully, new projects creep in at the ultra-slow pace they have been until those in limbo get going again. No need to repeat the mad dash to build all over again.

Too much inventory up there. Sales are fast in Bed Stuy/ Fort Greene / Clinton Hill / Park Slope / Prospect Heights as long as price / SF is decent.

big prob with the burg is that so much has yet to be developed--if they ever clear all the shlt built and/or stalled, there'll be tons more fresh supply built/coming on line

Bottoms, how do you figure? What "has yet to be developed"? The neighborhood is already established. I'm not sure where this notion that much more has to be built is well-founded. Will developers still come to the neighborhood? Of course? But for the most part, they'll be taking down older buildings to put up new ones. You know, the same thing they do in every neighborhood. The big development on the horizon, of course, is Domino. By the time that's done (2021 at the earliest), it'll be a totally different real estate market of course.

A lot clears faster in bed Stuy because they go in the $200/ sq feet range. Too much inventory in Williamsburg in the $550 to $750/sq feet range. It's certainly a better hood but overpriced at these level .Wait until it goes down to $400/sq foot and things will clear up faster.

sledge, unfortunately that strategy hasn't panned out yet (and it's been championed by many for years now). The glut in Williamsburg was overhyped, and quite a few of the buildings built during the bubble have sold out or are doing much better. Even the large waterfront projects have picked it up (Edge is over 50% sold, and there's no way they touch that 3rd tower for at least 8 years; NSP1 is sold out, and 2 is ahead of the Edge I believe). Other projects turned rental and actually did quite well for themselves as well (184 Kent, 34 Berry, 44 Berry, etc.). A lot of this has to do with the fact that the pipeline of new projects just dried up in a relative flash, so the myth of 10,000 units coming to market just never became close to a reality. Believe me, I'm pretty surprised things have held up as they have, and while there's obviously time for things to turn sour, I'm pretty skeptical we'll see anything in this area hit below $400/sqft.

So far the hood has been lucky because not many foreclosures have hit the market. Since it takes approx 3 years in NY to foreclose on someone, i'm curious to see how much of that is gonna start blend in the market.
There has been a shit lot of units re-selling at loss at the Schaefer Landing in 2009 and while some Developers have been able to dodge a bullet, many underwater owners won't be able to buy time any much longer.

Schaefer Landing is such a strange beast. I have no idea why anyone bought into it at those prices - it's essentially a different neighborhood down there. I think most northsiders rarely venture to Broadway, let alone south of it.

obviously much of that which "has yet to be developed" are properties comprised of the same kind of shlt they took down to build what they done already built--some came up on longstanding vacant lots, but most came up on land where old crappy shlt got razed--there are tons more of these sites, with crappy old asbestos-shingle clad 2 families and shlt like that, waiting to be sold, levelled and developed

soon as all the stalled and unsold shit clears, developpers'll get right on it--there will be excess supply in the burg at least until you get your toe-tag

"there are tons more of these sites, with crappy old asbestos-shingle clad 2 families and shlt like that, waiting to be sold, levelled and developed"

I think you're exaggerating a bit to make your point, but you are right we'll see some of that. The problem is, due to zoning, developers can't build very tall even if they do buy and raze these buildings. And as I said above, you're not going to see much of anything new on the waterfront for 10+ years. That hardly screams "excess supply" to me, at least not on the level you're saying.

with all that remains unsold on the waterfront, why would anyone build now??

and there is space for so much more if and when the waterfront stuff clears

Bottoms, how much remains unsold on the waterfront currently? I'd like to hear how much you think there is.

There is space on the waterfront, but that's pretty much the case anywhere along the waterfront in this city, including Manhattan. That does not mean they will build. The Edge won't touch the planned 3rd tower till 2020 if not later. Domino is a ways away as well, but no sure thing. Other than that, there's not much on the horizon I can think of. Given the added stress it would pose on the current infrastructure, I just don't see any major construction anytime soon, even after the current stuff clears. And it will sooner than you think.

I still don't get the anti-wmburg sentiment. Why do people look at this area as such a unique beast. Why do people still lobby for its failure. According to people on these boards there was supposed to be a huge unsold inventory going for bargain prices. but you were just plain wrong. I am shocked as well that things hve gone as well as they have. The big upscale developments are selling well. Given that most of the units in the larger bldg closed post crash, I think the mortgages are more secure.

rivas, I pretty much agree. sledge's point about foreclosures sounds like a bit of wishful thinking. It's been 3 years since lending restrictions ramped up, so if that cow is coming home, it should be within sight (or mooing earshot) by now. There will be some for sure, but it's unlikely to make much of a dent at this point. If anything hits the market hard, it'll be the larger macro factors at play in the whole NYC market (jobs, economy, interest rates, etc.).

Wbuttock's "girlfriend in Brooklyn" is also stalled. Coincidence?

bjw2103,

You are still laden with agenda.

As bjw2103 and I live in Williamsburg we have bias (not necessarily an agenda) but up to this point the naysayers over the past 2-3 years have been wrong in their predictions. A Miami-type collapse has not occurred and a turn around is very much evident. The market for Northside Piers where I live has been brisk since closings started in October and seems to be continuing (and from what I can tell the same can be said for the Edge and 80 Met). Waterfront prices seem to have support easily in the $800/sq ft range. Inland units in N Williamsburg have sold well in the $600/sq ft range. Some stalled projects are starting to show life again. Dire predictions have not panned out for Williamsburg, and I don't see how current market conditions supports further predictions of collapse.

Many dire predictions haven't happened.

And being early is no excuse.

We haven't seen $500psf.
We haven't had a double dip.
The stock market didn't stay at 6500.
Gold was not a bad buy 2 years ago. Or 2 months ago.

Those who are still expecting the above ... when will they happen?

its def not the same in willyb. as compared to anywhere else. park slope is the only part of brooklyn where the market is up this first quater of 2011. in willyb. the numbers are flatlined but thats practically up in my book. all other parts of brooklyn are down. I live in willyb. for 7 years & i rent. the past 5 months ive been inside every building in the hood & just didnt find anything i loved & could afford. i dont like gigantic buildings but some of the more boutique buildongs have been glued together & just dont warrent over 600$ a sq foot. I believe that we will c more forclosures coming at some of the pricier building since many people overestimated what a good deal was & what they could actually afford. i believe that condition of nspiers speaks for itself. look at all the trouble some of the tenants are already having!!! poorly built buildings are all over willyb. i personally gave u on willyb. as a place to invest in brooklyn & have opted for Fort Greene. I am getting 1300 sq feet in a fully amenity rich building 1 block from the park & from every train available. im over the hipster deal. im 37 & i lived in the hippest hoods since the east village in the 90's. ...I cant stand the trust fund kids who pick a neighborhood after all the true artists & hipsters built it up. the real hipsters are alreadygone to other hoods like Bushwick. definition of a hipster to me isnt who can afford the most clothes from american apparel Its the artists who turn there noses up at rat race society & those people would not dream of living at the edge!!!!! sorry. if ur a old hipster living at the edgs then chances are u sold out. i dont blame u but from a hipster scale its def leaning toward bushwick 1 willyb kindergarten!!

damn my spelling sux when im on a rant!!! scuse me

There will always be people who, in the face of a truth they don't like, will accuse you of having an agenda. Makes for good message board reparte, but it really doesn't help you in the end. LookPied, rivas, and myself have a pretty good vantage point, and I don't think any of us is saying things will never go south (inevitably, they will everywhere), but I think it's more than fair to comment that some of the more dire predictions about the neighborhood have not come to pass. As I've maintained for a while now, there is no need to rush to buy if you're in the market, as I don't see significant appreciation on the horizon, but near-term, I don't see the collapse some deemed as inevitable, around the corner either.

helphome, if you're always looking to be where the hipsters are, I'm not sure buying is a great option. Those areas will move too frequently for you to be happy.

wburg prices will stay flat to lower for a looooong time

once they start to move some of the glut of supply that just sits, the stalled buildings will get worked out and finished, and maybe even sold, finally--and if in our lifetimes this happens there are tons of teardowns and lots ready to go for further development, and little or no zoning to prevent

simply, a poor place to invest---will stay flat to lower regardless of other areas of the city

LookPied,

I appreciate your words; bias is bias, agenda is agenda. Ask bjw2103, to post his document illustrating number of units coming to W'Burg; bjw2103, will post his segmentation of units coming to
North W'Burg, LMAO. bjw2103, document illustrating number of units coming to W'Burg is clearly, agenda.

"once they start to move some of the glut of supply that just sits, the stalled buildings will get worked out and finished, and maybe even sold, finally--and if in our lifetimes this happens there are tons of teardowns and lots ready to go for further development, and little or no zoning to prevent"

Bottoms, I mean, clearly you don't know what's been going on here. I'll ask again, how much supply do you think there is now? Do you have even a ballpark number, or are you going off some kind of vague "gut feeling"? As for zoning, the past few years have guaranteed no towers inland (hardly what one could call "little or no zoning"), and it'll be a long time before you see anything on the water, as I've said above. Add this to your trail of vapid commentary and uninformed musings.

mutombo, do you reread your posts even once? Half the time they're indecipherable.

Bottoms, also still never heard back from you about the rent/buy ratios I found that you said didn't exist. What gives?

what r u talking about bjw??? those r the areas i want to flee from thats the whole point of my thread. i guess my poor spelling left room for translaion. id b very happy if i didnt c another "hipster" again !!!

helphome, sorry, I meant "you" as the more general "you." In general, I don't think most of the buying population is preoccupied with others thinking they "sold out" for buying in a nice condo building. IMHO, it's even more embarrassing to purposely slum it in order to hang on to perceived street cred or whatever. But it sounds like we mostly think along the same lines there. Besides, as you noted, the hipster myth about Williamsburg isn't quite what outsiders make it out to be anymore anyway.

bjw2103,

Indecipherable, because you are laden with agenda?

Yep, you got me. Stellar work, Watson. Now what?

re feel--ft greene has such a more soulful feel than wburg--the bones of the buildings in ft green, mostly beautiful old residential houses, tree-lined streets, will prove Ft G to be a much better investment than wburg--wburg has so many crappy small-industrial, and mixed use bldgs--for now, they remain as eyesores. in the future (if the overhanging supply and stalled new stuff gets sold in our lifetimes) they will serve as platforms for more and more and more supply

the charmed treelined blocks of beautiful houses in Ft G will prove far more valuable over time than any property in Wburg

This is so obvious that only Wburg owners will disagree...watch

I love Fort Greene - it's a great neighborhood, with some of the more beautiful blocks in the city. Definitely a prettier nabe than Williamsburg. But bottoms, for whatever reason, you won't answer any of the more relevant questions about Williamsburg without veering off into some vague half-baked notions about "soulful feel" and misinformation about supply and zoning. Just sounds like you've got an axe to grind. Williamsburg is not the world's greatest investment (real estate, for that matter, almost certainly isn't), but blindly hating on it serves what purpose really?

i enjoy wburg often--music hall for sharon van e a few weeks ago--went to diner just saturday--great meal as always--whatever

no hate on wburg at all--it's about the real estate--it's about what i already said on that

"you won't answer any of the more relevant questions about Williamsburg without veering off into some vague half-baked notions about "soulful feel" and misinformation about supply and zoning"

In defense of Wbottom, I posted what appears an accurate report about the addresses of the stalled project so he's not misinformed, and calling his half-baked notions about "soulful feel" is not more stupid than saying most "northsiders rarely venture to Broadway". WTF do you know about people's whereabouts? That sounds like you're trying to generalize about you own personal whereabouts in the neighborhood. Williamsburg is a huge hood, it's not limited to a 5 block perimeters around the Bedford L stop and i feel sorry for you and may be a few other residents who think so as they are missing on a lot of great places to hang out on the Southside like Bembe, Gordon Bennett, Dinner, The Woods, Miss Favela, Marlow etc...
People DO venture on Broadway and its surrounding.

"it's about the real estate--it's about what i already said on that"

Great, but I've already asked you to elaborate on the supply and zoning questions. Not a peep from you on those deets.

"In defense of Wbottom, I posted what appears an accurate report about the addresses of the stalled project so he's not misinformed"

sledge, it's not exactly accurate. At a glance, at least a couple of those sites are no longer stalled (not that surprising really since this says 2010, and we're almost halfway through 2011). As I stated earlier in this thread, I think the 2009 data point is misleading since many stalled sites weren't deemed officially "stalled" until 2010.

"WTF do you know about people's whereabouts? That sounds like you're trying to generalize about you own personal whereabouts in the neighborhood. Williamsburg is a huge hood, it's not limited to a 5 block perimeters around the Bedford L stop and i feel sorry for you and may be a few other residents who think so as they are missing on a lot of great places to hang out on the Southside like Bembe, Gordon Bennett, Dinner, The Woods, Miss Favela, Marlow etc...
People DO venture on Broadway and its surrounding."

Wow sledge, chill out. First, I never said no on ever ventures down there. I said most northsiders rarely go down there, especially below Broadway. What do I know? I only live in the northside and spend a lot of my free time with others. It's not to knock other areas, but what exactly is down there that demands regular (key word there, again, if you're not paying attention) visits? There are good restaurants on Broadway (can't think of any below), but most people don't go to the same restaurants every day of the week. And of course, Bembe, Gordon Bennett, The Woods, and Miss Favela are all NORTH of Broadway. Hell, even Diner, Marlow, and Dressler are on the north side of Broadway. Fact is, Shaefer Landing is just in a weird location that has much less going for it than most anything on the northside. And I think the real estate activity clearly suggests that as well. I'm not sure I get how you support pretty obviously racist comments in the Bed Stuy thread and then get all worked up about a comment about Broadway. Weird.

bjw2103,

You lie you lie you never been so thin, you lie you lie...

I am alarmed to see the extent to which Wbottom will go trolling Brooklyn with his lure of Barney videos and his perversions toward used condoms. This guy should be limited to areas without families. Is no one else aware of Wbottom's posts about dirty condoms and his posts about watching Barney videos? Plus his "girlfriend in Brooklyn" - we can only imagine what that's a real reference to.

bj--please dont elaborate on anything--i make my comments based on my knowledge of things--youre an idiot to think i care what you ask me to elaborate about

Bottoms, you are hilarious! Your "knowledge" of things is something we should all defer to and never question, sorry about that. Carry on, brother...

bj--i know i'm hilarious--you, on the other hand, are a lonely moron--how is it dating h'burg?? you guys hitting it off alright??

Bottoms, why so angry? Just dishin' a little real estate talk, after all. Did you miss the nice weather this weekend?

Wbottom, who are you to call anyone a lonely moron? We all know the type you are after. And it scares any parent on streeteasy.

the charmed treelined blocks of beautiful houses in Ft G will prove far more valuable over time than any property in Wburg

how does this constitute knowlegde
your stating your opinion, which is as worthless as all others
rather than having a factual discussion you make a personal attack on a chat board-- and someone should listen to you?

who said you should listen to anyone??

opinion..factual..knowledge.."your stating your" confusion as clearly as you are capable of..congrats

and congrats to you, you found a spelling error, feel good?

rivas, don't mind bottoms - he's just frumpy and mad no one pays much attention to his "writngs" all that much. It's good of you to toss him a bone though.

seriously, why so angry. if i was as smart and insightful as this individual i would be loving life.

People should mind Wbuttocks. You don't want him around your children, so watch out for him and his kind.

rivas....u must b like i was b4 i ever ventured into FG cuz i was completely hell bent on not leaving willyb. FG is beautiful willyb. is not. u dont need to b a rocket scientist to c that. bjw...no hard feelings, i am not totally above being snobbish where it comes to street cred. but again that was soooo not my point. im getting ready to start a family & i want to raise my kid in Brooklyn. Im just happy that i found a close enough commute to work & a community that i can c growing in strength. but anyway i truly believe that certain buildings in willyb. were bought by parents for their "artist" kids & in hopes of making a few bucks in the interim...lets face it ..any real estate in nyc metro area is a decent enough investment. prices will go up & there is always someone out there who is looking to buy.

bjw2103,

"You sleeping with that guy, and you think you are better than everybody, you ain't better than anybody, you ain't nothing but common."

bjw2103,

Should take his advice and stay classy.

Sledgehammer,

bjw2103, is a liar, laden with agenda and you hit the nail on the head, "Williamsburg is a huge hood, it's not limited to a 5 block perimeters around the Bedford L stop and i feel sorry for you and may be a few other residents who think so as they are missing on a lot of great places to hang out on the Southside like Bembe, Gordon Bennett, Dinner, The Woods, Miss Favela, Marlow etc...
People DO venture on Broadway and its surrounding."

All,

bjw2103, has a purported template of number of units coming to "W'Burg," but when I thoroughly read his template of units coming to "W'Burg," all the units listed were from N W'Burg. Point being, bjw2103, argued a certain amount of units were due to come online in W'Burg; but in his template only accounted for units coming online to N W'Burg. When called out, he talked about segmentation of the market, and most units coming online are concentrated in no other than his immediate area of "ownership," N W'Burg. To reject the holistic neighborhood is stupid, a miscount and clearly shows his perpetual laden agenda. N W'Burg is prime, but is not the entire neighborhood. bjw2103, a starlet!

mutombo, still whining about the same thing years later? Let me ask you a simple question: if you're looking to live in the west village, and a broker decides to keep on showing you places in the east village, do you just go along to honor the "holistic neighborhood"?

e vill/w vill--completely different hoods
no wbug/wburg--not analogous

Wbottom:

If you look at Williamsburg as an isolated market, then I can understand how prices would remain flat as more buildings/apartments come on line. However I think the market needs to be seen in the big NYC context. We first wanted to buy in UWS, then Brooklyn Heights, then Prospect Park area, etc. but prices were beyond our reach for what we were looking for. Our search then took us to Williamsburg where prices were within our reach. If prices rise in Manhattan/"desirable" Brooklyn, etc. people will be priced out and they will look for alternatives such as Williamsburg where prices can still rise if they stay at the same relative level with the other areas.

But you can also look at Williamsburg as an isolated market that people may desire more than the traditional high demand areas, as it has its unique attributes which we have been enjoying tremendously since we moved in. We love it here.

"e vill/w vill--completely different hoods
no wbug/wburg--not analogous"

Bottoms, more tripe. Not even bothering to explain why you think they're not analogous?

The hilarious part is that when I did a tally of the inventory, the boundaries were from North 15th to the Williamsburg Bridge, and waterfront to BQE. That's a pretty huge area.

http://streeteasy.com/nyc/talk/discussion/17699-2700-units-going-live-in-williamsburg-in-2010

bjw2103,

You don't get it, your calling me a whiner, you can't ask me anything and your laden agenda is salient. The area you outlined is not the entire W'Burg, therefore, making you incorrect. The shoe fits and your wearing it.

pied--
i like wburg, enjoy spending time there, and completely understand that some find it a desirable place to live. not an option for me as i have geographic constraints such that it wouldn't fit.
that siad, my point remains that there is plently of stalled and unfinished supply that will ultimately hit the market, and built supply for sale now. further, there are many lots and properties waiting to be razed/rebuilt. all this adds up to continual supply more than sufficient to accomodate whatever demand develops. Ft greene is very different in this sense--it is largely comprised of buildings whose bones warrant renovation, and has few buildable lots and very little stalled or new unsold supply--thus my opinion that FT G will outperform wBurg, and that wburg will underperform other areas with similar supply characteristics to FT G--

enjoy your place in wburg it aint all about the trade value of your property, and i could be stone cold wrong about how prices will behave--

i wont tho bother further with bj's agendized garbage logic, wacko analogies re e/w village vs wburg, and bizarre metrics for supply/demand

she's long a 2 bdrm in wburg and wants to believe

Let's do this again, even though a couple posters here have offered no data or evidence (at all, really) for their claims:

An updated tally of what's left/available, including "shadow" inventory, and anything at least 50% completed. And please, if anyone has anything to add/subtract/correct, feel free to do so - it's a work in progress, but should provide a fairly accurate picture of the true sales inventory in the neighborhood (which is roughly bounded by North 15th, waterfront, the bridge, and BQE). From this tally, ~600 units essentially out there. That’s roughly half what it was about 15 months ago. Add in the outer fringes of the neighborhood, and you’re probably just under 700.

NSP2 = ~135
The Edge = ~280
135 North 11th = 20
58 Met = 20 (not sure about this - anyone know more?)
80 Met = 12
144 North 8th = 41
205 North 8th = 9
90 North 5th = 4
170 North 5th = 18
415 Leonard = 2
50 Bayard = 2
46 South 2nd = 15
251 South 3rd = 4
29 South 3rd = 2
66 North 1st = 2
Mill Building = 2
NSP1 = 5
91 Met (formerly 268 Wythe) = 5
120 South 4th = 18 (unclear what’s going on here, haven’t checked in a while)
Several buildings with 1 unit = ~10-20

For those who insist on adding supply east of BQE or below the bridge, here’s the major stuff I can track down:
139 Skillman = 16
365 Union = 14
63 Jackson = 2
The Gretsch = 3
Schaefer Landing = 7

New rental buildings worth noting:
175 Kent = 113
111 Kent = 62
136 Met = 9
250 Bedford / 197 Berry = ??
641 Driggs = ??

Some buildings with unclear outcomes:
Urban Green = 44 (all were in contract at one point)
52 North 1st = 41 (less than 50% built, unclear if rental or sale)
76 North 4th (was going to be conversion, but totally died)

Bottoms, this is probably the part where you disappear again.

These crickets really need to stop.

bjw2103,

When reporting, you have the responsibility to report accurately, unlike Faux news.

If you weren't a troll and you actually cared about "accurate reporting," you'd offer some of your own data instead of just critiquing everything I post. Come on - you can do it, buddy!

The trolls sure do disappear quickly when confronted with facts and data, huh?

bjw2103,

Facts and data? LMAO, stay classy!

Yeah, facts and data. What do you have? Oh, right, nothing!

did you dream about h'burg and all your trolls last night, bj?

bjw2103,

I'd rather have nothing than have a miscount and pass that miscount off as a divine word.

Bottoms, totally. You guys were wearing matching tutus, which was adorable until you started to soil yourselves, at which point I wretched and woke up, thankfully.

mutombo, divine word? That's amazing. Wow, are you bad at this or what? At least you agree that you have nothing to contribute here.

I'm better than you at this! I know your plan, and it ain't workin'!

mutombo, you're actually painfully bad at this. What's my "plan," Paranoid Patty? And again, you're free to add to the list I posted. I have no qualms with that. You can either put up or shut up. Or keep on trolling, I guess. But it's not doing you any favors.

W'Burg value is continually declining and the decline troubles you. I'm not adding anything as you will say my addition untrue due to segmentation of the R.E. market, as you said before. I'm trolling while your the hall monitor. Your a bigger shill for W'Burg than the developers for the mega complexes on the water front. As I said, if an individual say X amount of units are coming to W'Burg your miscount is just that a miscount as your account is biased because of your agenda. Comparables in the radius of your property is your agenda, but your agenda does not represent the holistic neighborhood.

mutombo, to clarify: property value is LOWER than it was at the peak (and this is true in all neighborhoods). There's little doubt about that. On top of that, my list includes ALL of the southside (despite your incessant complaining that I'm only looking at the northside), as well as buildings below Broadway and east of the BQE (ie: South and East Williamsburg, which are far more marginal areas). What else do you want to add? Fort Greene? Otherwise, this is the "holistic neighborhood" (which is determined by rather arbitrary borders to begin with, but you aren't capable of understanding that).

I haven't shilled for anything; I actually enjoy honest discussion. Unfortunately, you don't seem to want to hear anything that doesn't corroborate your wishful thinking that everything in the neighborhood will continually tank until you can finally afford something. And so you troll on and on, adding nothing of value.

If you haven't shilled for anything, this site is no longer available; you have been outed as a W'Burg shill years ago, give it up. Your fibs are honest discussions in your mind, LOL.

As in this discussion, http://streeteasy.com/nyc/talk/discussion/12808-city-to-turn-unsoldstalled-condos-into-affordable-housing-willamsburg

You "missed" the gist of the article, and digressed to your own agenda. The gist of the article was salient because Ray Charles was capable of reading it 22 months ago. somewhereelse who was nyc10022 at the time, pointed out, your digression...ahem agenda, was incorrect and you were eating humble pie. While making yourself out to be a Rhodes Scholar, you ain't nothing but common! You do go out the way to prove yourself on a message board, by any means necessary, which is why you are a shill. I don't care how many degrees you have from the top name schools, your the W'Burg shill and it's salient.

w'burg is doing rather well. really. i believe there's still a lot of inventory that isn't accounted for in bjw's tally because there are a lot of purchase/demolition/foundation loans that will eventually need to become something other than dead debt (the banks don't seem too into that, so it seems the building will go forward), but with the exception of a few buildings i don't see disaster (and those tend to be related to shoddy construction, untested developers, and i suspect resales will really suck in the big waterfront properties, but who knows?).

i've been saying for years that w'burg is where many of NYC's young decamped to. nothing to win or lose in this fight, just an outside observer. the retail there, the food, etc., is just not what you find in an area that is on the brink of disaster. it's vibrant, and hipsterish.
and the meatball shop is opening any day now, how great is that?

mutombo, what degrees? SWE and I are the ones continually touting our educational backgrounds. i don't recall bjw doing the same. once again, i seem to be missing something. "rhodes scholar"?

AR,

How are you? I have never heard you or somewhereelse mention your education. bjw2103, subliminally mention his education.

mutombo, i'm doing very well, thanks. how are you?

swe and i have made absolutely no secret of our ivy league degrees, and swe even goes back to high school, rather dogmatically (in his defense, my high school has also been mentioned, but not in a positive light). i believe we even went to the same undergraduate institution. in my case i came from a family where i was the the first to graduate from high school, so my jaunting off to such a college was quite a feat, a combination of extraordinary luck, decent genetics, and a school determined to pluck people like me out of the masses.

i don't know how someone can subliminally mention their education.

I'm well thanks for asking. I've been saying hello to you for a while but you have not answered. I've never heard you and somewhereelse mention your undergrad and post undergrad if you two have them, guess I missed it. We has humans can subliminally express anything.

"We has humans can subliminally express anything."

Wow, just amazing. We has reached a new comedic high in this thread. mutombo, you think I'm a shill? Fine. I don't really care what you think at this point. Anyone else reading this can decide for themselves what to think. Unless, of course, I'm subliminally altering their neural synapses. I'm actually doing that to you right now! Scary...

"w'burg is doing rather well. really. i believe there's still a lot of inventory that isn't accounted for in bjw's tally because there are a lot of purchase/demolition/foundation loans that will eventually need to become something other than dead debt (the banks don't seem too into that, so it seems the building will go forward)"

ar, I did state that I was only including inventory where construction is at least 50% done. It seems fair as a gauge of shorter-term inventory. Long-term is much more of a crapshoot, because it's just so hard to project how some of the projects you're referring to will turn out - when will they be ready? Will they even get done? Will the project turn to commercial use rather than residential? It all becomes too vague of a guessing game in my view. But that said, you (or anyone else) is welcome to add to the list. It's clearly meant as a collaborative endeavor to get at a more accurate view of the inventory. People like mutombo and bottoms complain and complain yet oddly add nothing to the table. Just seems like some dedicated trolls to me. And for the record, I also have an Ivy degree. Not sure why that should matter, but seems to intimidate mutombo for whatever reason.

"and i suspect resales will really suck in the big waterfront properties, but who knows?"

I think you're right, ar. Especially for those that bought early/pre-Lehman and paid all those transfer taxes, etc. It'll be a while before they can break even. I'm still shocked at some of the prices people are paying right now - someone just paid $2.7m to combine 2 units at NSP2, and a couple of the larger Edge units have closed well above $1.5. That's insane.

I am subliminally expressing the fact I got a huge boner.

Hey aboutready..... been awhile. How's life treating ya?

bjw... WTF don't you understand? I heard about someone negotiating a 3 year lease with a bankrupt LL, whose Bank (whose initials contain BofA) fell asleep at the switch and forgot the file any motions during the bankruptcy and failed to foreclose for 15 months. Guess how much of the rents the LL wants upfront? Guess what is the IR that the tenant is asking for and getting. Guess how much Americans are taking it up the azz? It's non-judicial, the new lease will stand up in court.

We are SO SO fked.

OH back on point. w'burg is part of the US, no? We are talking Real Estate, no? We just announced the game... 9 more innings to go.. .get MORE popcorn. Garrett Popcorn... caramel... mmmmmmmm mmmmm good.

w67th, I don't know what will happen for sure. I don't think anyone does. You're saying the game just started - what do we make of all those people who said we were in the 4th inning 3 YEARS AGO? Look, I know these things can take years to fully drag out, but there's no doubt that some of the best insight on this board has been more than a little clouded by noise and wishful thinking. I happen to believe you're a pretty smart guy, but just because someone might vaguely agree with you doesn't mean they get a free pass on posting full retard (see: mutombo and bottoms). At this point, if the economy takes another big hit, interest rates balloon, and jobs don't come, NYC real estate is in trouble. But to focus on the great Williamsburg inventory myth (5,000, no, 10,000 units coming on line this year!) as the de facto reason the area will tank, independent of the rest of the city? Sounds a little streeeetchhhhhyyyyyy to me.

bjw2103,

I don't think you're a shill, I know your a shill; and a hall monitor too. You may not be a corporate shill, but you are a personal shill.

Liar, when you initially created your inventory list, it was to refute the said 10,000 units coming online to W'Burg; but I noticed your initial list did not account for all of W'Burg. When I realized your list did not account for the holistic neighborhood, I called you out. After calling you out, you said you understood my position, which implies you were incorrect on your purported inventory list. bjw2103 after thinking, you came up with a clever way to counter my findings, and talked about segmentation of the market, where most of the glut inventory is concentrated, after, you said you understood my position, very snakish. But, segmentation of the market and concentration of glut inventory has nothing to do with your miscount of units coming online to W'Burg.

Are markets segmented, yes, but your total inventory list is clearly incorrect and does not illustrate segmentation of the market, but illustrates agenda. I do agree, the 10,000 said units coming online to W'Burg was a hyperbole.

Your Ivy degree does not, has not and will not ever intimidate me as I have your number. You rest on your Ivy degree to try and intimidate people, which does not always work. Reading your post, I realize, almost anything you say is a cascade of agenda and lies.

mutombo, such a whiner. And a liar (I've never really understood your "positions" especially since you post no data or factual evidence, just whining). Why are you so worried about what I post? Are you trying to defend the people from my Streeteasy comments? I mean, I am subliminally controlling everyone's thoughts and actions, but "we has humans" can always stand up for ourselves.

bjw2103,

You are a snake! You have a beautiful mind like the movie. somewhereelse summarized you correctly years ago.

bj--your name-calling and incredible windiness can't obscure that there is a ton of unsold built and unfinished supply; as well as buildable space for future development in wburg--wburg will underperform parts of ny where these poor real estate investment conditions exist--for someone who professes to be as PC as you often do, "retard" is an ugly word--but there is so much inherent contradiction and dopiness in most that you think

Bottoms, you just keep repeating yourself. But still not answering the relevant questions to back up your claims. I quantified the "unsold built" inventory - it's nearly half what it was 15 months ago. Even if you quibble with the numbers, the trend is undeniable. As for "unfinished supply" give some examples and estimates on the number of units - would be much more helpful than your vague comments.

As for "name calling," you're awfully sensitive, aren't you bottoms? Where have I said I'm all that PC? Find an example instead of making sh!t up! And frankly, in the face of all your out-of-nowhere name-calling and unwillingness to be at all civil, I've been pretty light on you. But your wittle feewings are hurt, so I'll leave you be if you insist.

Wbottom,

bjw2103, all but classy. And believes he "quantified" (LMBBAO) inventory in W'Burg. If you filtered through every thread pertaining to W'Burg; he has something to say on it, LMAO. Talking to bjw2103, like beating a dead horse. My second to last post, is a true story, but of course, the snake going to deny the truth as the truth will expose the snake for what he is a sneaky, slimey, slithering, no good SOB!

bj--love the butch act--it suits you, and apparently h'burg too!!

Bottoms and 'tumbo, youze guys sure are angry! Classy retorts. And bottoms, what's with all the hburg chatter? Does someone have a crush? Adorable, I guess. Shucks, I just wanted to talk a little real estate. And I ended up feeding the trolls. Ah well, c'est la vie.

Wbottom,

Sadly, bjw2103 believes his lies. I strongly believe, "he" on meds to control his mind, that organ is too beautiful!

mutombo, I think he goes by Wtushy

"Schaefer Landing is such a strange beast. I have no idea why anyone bought into it at those prices - it's essentially a different neighborhood down there."

You have no idea and clue as to why anyone bought into Schaefer Landing, but have factuals on The Edge and Northside Piers, pulled out of your anal cavity, SMH.

People bought into Schaefer Landing because: Now is the time to buy; buy now or be priced out forever; there hasn't been a better time to buy then now but resells illustrate the falling knife theory.

bjw2103,

Your an ass, repudiating the link, providing addresses of stalled developments, but the link contrary to your agenda.

'tumbo, you seem obsessed with "asses" and "anal cavities." No wonder you get along so well with Wbottoms.

bjw2103,

You will cut off the nose to spite the face!

'tomboy, you're close on that one, but actually wrong: I would cut off your noose, but still spit in your face.

bjw2103,

Heard when all the bars and restaurants close for the day, the front of your building used as a urinal, that explains why your pissy, sissy! LMAO.

Been outside today?
Don't you love spring in the city after a good rain....washes all the turds away.

mostly...