Williamsburg $ sq. ft

$125/square foot is appropriate.

Anything over $400/square foot and you're getting screwed!

blah, blah, blah ... ignoring the Wburg bashers, take a look at what units comparable to what you're looking for are selling at. That's you number. Good luck.

The sweet spot for N. Williamsburg condos seems to be 600-700 /sq ft, as many boutique buildings seem to have sold out recently at that range:

90 N 5th
66 N 1st
29 S 3rd
99 Havemeyer
6 Hope St

I've been amazed at the rate of sales in the area. Furthermore there doesn't seem to be much replacement inventory coming in leaving the large waterfront developments (Edge, Northside Piers, 80/58 Met) as the main listings available. A few resales have popped up and are priced higher. They tend to sit:

http://streeteasy.com/nyc/sale/604543-condo-161-north-4th-street-williamsburg-brooklyn

80 Met is almost sold out. Compared to the Northside Piers and Edge developments, it's a "small" sized building at $761 per square foot. $600-700 seems about right for small developements.

Thanks for the advice. Wow that north 4th listing is $915/sq. ft?!?! I get the feeling in the older ones people bought at the height and are trying to break even. For some reason people pay it...Yes I've been hearing all about the lack of inventory from Corcoran but once the Domino Sugar Lofts come on the market I feel like the market will be flooded again. Makes me nervous for resale potential with these buildings that have tax abatements nearing their end.

Nforth close out just after the RE peak at peak prices. So, yes, they are struggling to recover costs. Difficult to read the future as Domino is a long, long way away. Furthermore, there will be no more 25 year tax abatements. But there is definite risk to keep in mind.

there was a recent article citing how the Edge sold more apartments in the last 6 months than any other building in NYC - that would not have happened had lots of inventory been competing with it (and it is one of the best contructions in w'burg, which didn't hurt).

it's true - two to three years ago, W'burg was a joke in terms of just how much new inventory was created but somehow, and i can't truly wrap my head around it, honestly, it does seem that most of it has gotten absorbed OR has converted to rentals which, too, have gotten absorbed. (new rentals are charging $2700 for studios, $3300+ for one bedrooms, etc.) North 5th is in the $900's psqft, so are many Edge apartments, a few 80 Met ones, and a decent number of Northside Piers ones.

Domino isn't coming online for 12 years .. even with many of the previously frozen towers like the Finger Building thawing now, still it seems inventory is relatively tight.

I always knew the Williamsburg condos would sell at the right price, because they are substitute goods for much more expensive condos in Manhattan.

The only problem is whether the L train can hold all those people during the morning rush hour.

"The only problem is whether the L train can hold all those people during the morning rush hour."

And good luck if it's not running. Then you're just screwed.

Newbie, I think LookPied is spot on. Obviously, this should not be your be-all-end-all, but if you're paying well above $700 and not getting much in terms of views and/or outdoor space, I'd at least start looking at other buildings. Despite the first two comments, I don't see prices falling below $450-500, and that's worst-case scenario (for me anyway).

"And good luck if it's not running. Then you're just screwed."

Not true. You've got the J/Z, the M, and the ferry about to start up. There is this thing called a car service too if you're really desperate.

agreed, bjw2103 ... the last weekend when the L was shut down (a rarity, really) i took the M for one trip going to midtown and then took the bus to the 7 train in LIC to the 6 to get to the UES ... shockingly, for both trips, it took amost the same time to get to my destination as does the L. more convoluted, to be sure, but not too much longer.
what we need is more L trains and a bus or two that go over the water