The Edge

IE

http://streeteasy.com/nyc/sale/846556-condo-34-north-7th-street-williamsburg-brooklyn

condo vs coop.
also demand in billyburg is white hot. even hipsters are getting priced out.

Yes ...2 yrs ago you couldn't sell a thing in Blum and whoever purchased at the edge 2 yrs ago probably almost doubled their investment ...can't get those returns in manhattan!

What about the next five years?

I'm going to go RB and make points:
1. Buyers in WB over the last five years have made out very well.
2. Many buyers in williamsburg are younger workers who make calculations based on monthly affordability.
3. The JR 1 buyers in WB often wouldn't pass the board in Manhattan at upper 500's.
4. The WB buildings have far nicer common spaces than manhattan co-ops, save London Terrace or the few with rooftop pools.
5. Advances in flame-retardant sofas mean now you can push them right up to the stove. (kidding, but applies to one of the NSP lines)
6. Degradation of financing availability (higher rates, higher down payment req) or increase in monthlies will affect prices in these buildings far quicker and harder than the MNH co-ops.

I think it is funny that aboutready followed bjw2103 into Williamsburg, and against the advice of w67thstreet, petrfitz, and yikes.

I wouldn't say "selling for $725K" yet. Not until it does. Hot or not, that'd be a stretch for a no-view rathole that went for $523K just a year ago.

Or maybe I'm swayed by the renter's stuff making it look so sad, and it'll go above ask.

No flooding effect out there ?

The south building is on the water map at http://www.nytimes.com/newsgraphics/2012/1120-sandy/survey-of-the-flooding-in-new-york-after-the-hurricane.html, but not the north building.