The Rialto / WB in general

cj2008, prices will likely come down or stay flat in the near future. There is a lot of new dev coming online now or soon, so there is a lot of choice out there. If you're serious about WB, I'd suggest you visit a few buildings and feel out the differences. If you're partial to a particular building, you may want to go for it now, but if not, it most likely won't hurt to wait. I also know there's wiggle room to negotiate with new dev there now, so that's something to keep in mind. Also think about how close you really need to be to the Bedford L stop. That's the locus for most, and where highest psf is concentrated (right now, ~700-750 depending on quality of product is pretty good). If you get away from that area, you'll get below 700.

i looked at the rialto, which has nice finishes, but was put off by its location across from the funeral home...

i hear you. i have to believe, however, with market days like today, the increase in credit card delqs, HELOC delqs, etc, prices have to come down. just my thoughts though.

i can't imagine the funeral home will be there a whole lot longer. like most everything else, they'll get priced out i imagine. not sure what the opex of a place like that is.

Of the four buildings I saw today (Rialto, nForth, Northside Piers & Factory Lofts), the Rialto had by far the nicest finishes & appliances. The big downside is the lack of storage space. In the model unit, you open the closet doors to find some really awkward, pretty much unusabl spaces. As for psf, based on what I saw WB is waaay overpriced. Prices have factored in a level of development that's not going to be there for another 3-5 years, if at all.

I think the development is locked in, esp on the waterfront. WB is going to look a lot different in 5 years and my guess is it will then be a lot more expensive. I think that it may not be a bad idea to wait until there is an extension of the conforming jumbo loan limit (it is set to decrease from 729,725 to 625,000 on January 1) before locking in on an apt above 850k unless you are puttinmg a lot down because high interest rates really make a huge difference in terms of the price you pay for buying and, in addition, make it more or less affordable to buy at all. In most cases people pay .5 to 1% high interest rates for non-conforming loans.

cheetah9902, agree with you there. I think the northside area west of Bedford is past the tipping point, so this downturn, while likely to be a bit painful for the area, will not ravage it and turn it into some forgotten, once-uopn-a-time trendy neighborhood. There's too much established there already. About the non-conforming loans, correct me if I'm wrong, but Jumbo rates are very close to conforming rates right now, no?

I am talking about conforming Jumbo versus non-comforming Jumbo.

My friend already bought a place (in financial district manhattan) and knows that for him if they lower the conforming jumbo limit he will be paying .5% higher. mind you he has a special relationship with a bank that gives him a reasonable rate but if they extend the temporarrily higher limit for NYC metro area he would be paying .5% less, whatever the market rate situation is at that point. Don't ask me why they know exactly how much more they are willing to pay. My guess is that they are guestimating but my friend is using it to determine an estimated monthly budget.

bjw have you purchased something yet?

cheetah9902, I'm pretty sure a non-conforming loan refers to a jumbo loan only (same with conforming to non-jumbo). I did purchase quite recently, which helped me with negotiations. Quite happy with my purchase, and I have a long time horizon, so the immediate market fluctuations are not as critical.

checked it out from the outside and peered through the windows last night... quite nice and also nice distance from the L

any estimate on when it might be finished? there's a lot of product coming online in the next couple months it seems....

i think the units here are overpriced compared to similar projects nearby.. there is considerable noise right by the bedford ave L subway stop especially @ night.. there is no parking, no gym, no doorman. The layouts are unique and so forth but the use of space isn't as ideal as some others ive seen

i looked at the rialto today and really loved it i thought the unique space was really awsome and the psf was fair for what the features and finishes were. i plan to make an offer inb the next day or two. love it!!!

Shelly please don't pay asking and make sure you thoroughly shopped around. There are developments on every block in Williamsburg and its a buyers market..make sure you get a steal..of a deal!

thanks for your input but it is the right choice for me. don't you worry about what i pay...

Shelly shows up to pronounce this place great and she is buying tomorrow, and paying full price.

And she felt the need to post it here why? I wonder if the Streeteasy listings will decline by one the next few days when she buys...or if this is just another way for brokers to attempt to market their listings.

Now is the time to buy at The Rialto and WillyB. Buy now at The Rialto and WillyB or be priced out forever. Go to The Rialto and WillyB and catch that falling knife.

Williamsburg is still pretty hip, I think you have to agree.

don't expect to move in anytime soon! i've been told the place was going to be done oct/nov...then nov/dec. it looks like it still might be a month plus. additionally, the noise on bedford has become ridiculous---all those 'hipster' idiots and their techno/house/wtf they call it these days. i hope you have soundproof windows shelly.

does any one know how noisy it will be on the back side of this building facing N 4th street. couple of bars are cross from the building.

Cute but overpriced. Many units have been on the market for months & months. I myself went to an open house & was the only person there.

There is an utility room on the first floor of this building. Don't know if the boiler will make a huge noise to bother the units above. The newer boiler's design might not have a noisy problem. Any one? Thanks.

Anyone know who the builder for the rialto is?

The architect is gene kaufmann and the sponsor is ted hovivian. The NYC gov BIS website shows they just got the green light for occupancy so I expect to see buyers moving in soon

3D looks like it is back on the market...does anybody know the reason why?

Yes, the Rialto, renid on the trip to Venice.

Really? The Venice thing seemed a gimmick that indicates desperation on the part of the sponsor. Surprised that they would go against their advertisement and back out of something that's probably just a matter of a couple thousand dollars. Did they provide a reason for backing out of the deal?

Looks like they closed on five units so far. Could any of these buyers comment on the building and their experience so far?

I don't see anything happing here. Is anyone living here yet?

There are people living there already, I saw some people when I went to look at an apt there

yes i have friends who now live there

BECKY,

What do you mean?