new condos in williamsburg

there is plenty of upcoming inventory, as well as stale inventory, as well as inventory that went rental; all of which will need to clear at some point---once cleared, more will be built, based on lax zoning and glut of properties waiting to be razed for fresh development

if you must buy in wburg, take your sweet, and bid loooooow

your sweet time, that is

i was out over the weekend, i found very little inventory, can you add any upcoming buildings. tahnks

Jardin developer just raised his prices around $75k on 2BRs (12%)

Despite all the people saying tons of inventory in williamsburg, the major projects are selling out pretty quickly, and the smaller buildings have, even post crisis, done fairly well also. Albero looks like a fantastic building because of location and nice views and tons of balconies. Jardin is too close to 6th street noise. Remember -- edge and nsp have 25 years abatement and those buildings may have only 15.

msbrooklyn, I've said this before, but I'd be wary of both Jardin and 144 North 8th (formerly the Albero). Both were stalled for a LONG time, exposed to the elements and who knows what else. The prices seem ambitiously high to me, so would definitely wait and see how much traction there is in the early going. I'd be surprised to see much.

As for the troll's same ol' tired comments, don't expect much in terms of explanations or details when it comes to claims of "plenty of upcoming inventory," "stale inventory," rentals that "need to clear at some point," as well as "lax zoning," and a supposed "glut of properties waiting to be razed."

I hear that Jardin already has ~10 contracts out

thanks bjw. do you suggest bringing in an engineer to look at the structure?

msbrooklyn, I do. The salespeople will certainly bristle at the very thought, and may try to stop you, but then you can ask them what it is they've got to hide. If that happens, please report back here so that info can be made as public as possible.

ms, how do you expect an engineer to look at rusted beams that were covered by stone, panels or concrete? by buying, you take it into consideration that within 20 yrs, significant work will have to be redone. with other buildings, the same work may take 40-50 yrs to be redone.

ab_11218, how do you "redo" rusted steel beams?

ab, how would you go about this? just assume higher probability of assessment than say, Edge?

msbrooklyn , I think you should rent.Its too risky in williamsburg to buy now. Too many new buildings in the pipeline and stale listings hanging around. Check 111 Kent, they have beautiful apts for rent, and it was another failed condo, so you will get the nice condo finishes and brand new feel you may be looking for.

Actually, if you really want to live in Williamsburg, I'd even say hold off on renting as well. This is just getting nutty:
http://therealdeal.com/newyork/articles/42425

Raising prices? Yikes. How is this sustainable?

Did you just say that if you want to live in Williamsburg, that you should neither buy nor rent? How will the person live in Williamsburg then?

the way to redo the beams is when pieces of the facade are removed and the beams are cutout to be replaced with new ones. i had that done in my old coop building. i can understand having to do that after almost 50 yrs, not after 20 or so. it is very expensive, invasive and time consuming.

In other words, wait and live somewhere else until prices get a bit more reasonable.

ab_11218, an engineer can inspect those things. But it is going to be tough to get them access until you at least put a deposit down. And even then. I'd be direct and ask them what they have to hide. Transparency is sorely needed in these kinds of buildings.