building at 111 Kent Avenue

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. Does anyone else have thoughts on this?

what happened to this building?

was it marketed and then pulled?

it seems nice but...is kent st noisy?.. does the subway rumble right under 7th st? ( i was in a building on 7th st and heard a loud rumble....which put me off that sublet i was looking at)

Jim, if u like outdoor space- check out ph 2,3,4

i live right over the L on the 1st floor and there's nothing.

OK, I have a little bit of updated information on the building. By next month there should be:
- A finished model
- A sales office located on site
- A re-listing of many of the units

The goal is to have the entire building completed by the end of the summer.

what is the ppsf?.....

I'm not sure. I honestly have no idea.

Here is what they were originally listed at in 2008:
~$800 psf for both 1BRs & 2BRs on lower floors
~$900 psf for 1BRs on higher floors
~$950 - $1k psf for 2BRs on higher floors
~$1,150 - $1,400 psf for the penthouses

Hypothetically, assuming everything is lowered ~20% across the board, the new prices will be:
~$650 psf for both 1BRs & 2BRs on lower floors
~$725 psf for 1BRs on higher floors
~$750 - $800 psf for 2BRs on higher floors
~$900 - $1,100 psf for the penthouses

they'll have to go 30% down to make sales.

any idea what the quality of construction is?

no idea...it is arguably one of the best buildings in wmburg given that it has great views, not a megalopolis size zoo like the big towers, ...its fate on prices will depend on how the market unfolds this spring

wmburg has shown that things will move 550-650 psf with low monthlies.....and maybe at higher prices with great views (nsp)...what is troubled is 80 met with no views, high prices, ...125 not doing so great either....

no idea...it is arguably one of the best buildings in wmburg given that it has great views, not a megalopolis size zoo like the big towers, ...its fate on prices will depend on how the market unfolds this spring

wmburg has shown that things will move 550-650 psf with low monthlies.....and maybe at higher prices with great views (nsp)...what is troubled is 80 met with no views, high prices, ...125 not doing so great either....

The bad thing about a building taking three years to complete is its drawn-out exposure to the elements. The good thing is that it has a chance to "settle".

What are the buildings considered to have the best quality on the market in Williamsburg right now? I would think The Edge and 125 N 10th would be high on the list.

Also, there is no easy way to figure out what % sold each building is, right? I'd love to know that info for 125 N 10th, The Edge, NS1 (90%?), NS2 (30%?), 80 Met, 70 Berry and Warehouse 11.

Sounds like the model will be open for viewing the week of March 22nd. They have made a lot of progress on the entire building over the last few months.

As seems to be the case with every building in Williamsburg, they are running behind schedule. Sounds like the model will be open for viewing the week of April 5th!

Anybody know if there is indeed a model unit available for viewing? I emailed them last week but haven't received a reply.

I emailed with them a few weeks back and was also told April. Emailed the broker last week but got no response. I wonder whether they'll still go for the pool and high common charges or will adapt a little better to the market. What's the tax abatement on this one?

All of the estimates that were given to me have been missed. Any idea what's the latest with this building?

Thx!

whats up with this place?...move-in soon?

I don't think move-ins will be in 2010, but I haven't had a legitimate update in a long time.

I looks to me like construction is stalled, has anyone witnessed work being done recently, the southern facing facade has been exposed for quite a while

Anyone know of the current status of tuis building? As mentioned, work seems to have stalled since quite a few months ago.

Going rental, perhaps predictably:

http://www.crainsnewyork.com/article/20110324/REAL_ESTATE/110329921

Could be nice. Unobstructed views for most units I believe.

“Williamsburg is like TriBeCa, Chelsea and SoHo in Manhattan. It has a great vibe,” said Mr. Lembo. “People want to be there and its proximity to the subway and water ferry.”

Perhaps.

But they apparently don't want to live there badly enough to pay $600K for a one-bedroom and $1.1 million for a two-bedroom.

bad management. terrible finishing. shady dealings. don't rent here.