Dear Clients, Colleagues and Friends:
Springtime is here and the market is heating up…
There have been some exciting and extraordinary changes in the Brooklyn Real Estate Market, and Williamsburg in particular has seen a huge amount of activity. Apartments with good layouts in prime locations are selling very quickly, within days of coming on the market (such as our recent listing at 161 North 4th Street)- and prices are up. Our team has seen the average price per square foot around the Bedford stop rise $50-100 depending on the apartment and how desirable it is. Any of you out there searching to buy a home have probably found the process more frustrating lately... but no worries, we are here to help!
The bottom line: good apartments and townhouses are scarce, and there are many qualified people looking to buy. Mortgages are becoming more available and appraisals less difficult. Developments sites have also been selling with a few very notable deals closing in the last few weeks, including 111 Kent- which will soon be reborn as a 62 unit rental development (slated for fall occupancy), and a large lot on Roebling and North 10th, which will also become 100+ units of luxury rental. Most of the developments underway will be rental, and the few projects that are listed for sale will certainly sell quickly. The “finger” building (now the Alberto) on North 7th St. is now planned to open for sales in Fall of this year- with some amazing units featuring private outdoor space (call us for insider info!). On the rental side, good apartments are going like wildfire. Our new loft building, The Wythe Confectionery, is nearly 80% leased in just 6 weeks.
If you purchased a condominium in the last 6 years and have been waiting for the right time to sell (or rent)- now is an excellent time. For the first time since 2007 our clients have been able to get not only their equity back, but sell for a profit. We are working with a number of sellers who are looking to make a move and we’ve been able to get them fantastic prices for their apartments. Williamsburg has come into its own- as of the hottest areas in the city to live with an incredible array of shopping, restaurants and neighborhood services.
If you have any questions about buying, selling, or renting in the city- give us a call. We’re happy to chat with you about trends we are seeing and new listings on the market.
Enjoy the beautiful weather to come, we all deserve some sunshine after the endless snowy winter!
Sincerely,
Christine Blackburn and Lior Barak
Springtime is here and the market is heating up…
There have been some exciting and extraordinary changes in the Brooklyn Real Estate Market, and Williamsburg in particular has seen a huge amount of activity. Apartments with good layouts in prime locations are selling very quickly, within days of coming on the market (such as our recent listing at 161 North 4th Street)- and prices are up. Our team has seen the average price per square foot around the Bedford stop rise $50-100 depending on the apartment and how desirable it is. Any of you out there searching to buy a home have probably found the process more frustrating lately... but no worries, we are here to help!
The bottom line: good apartments and townhouses are scarce, and there are many qualified people looking to buy. Mortgages are becoming more available and appraisals less difficult. Developments sites have also been selling with a few very notable deals closing in the last few weeks, including 111 Kent- which will soon be reborn as a 62 unit rental development (slated for fall occupancy), and a large lot on Roebling and North 10th, which will also become 100+ units of luxury rental. Most of the developments underway will be rental, and the few projects that are listed for sale will certainly sell quickly. The “finger” building (now the Alberto) on North 7th St. is now planned to open for sales in Fall of this year- with some amazing units featuring private outdoor space (call us for insider info!). On the rental side, good apartments are going like wildfire. Our new loft building, The Wythe Confectionery, is nearly 80% leased in just 6 weeks.
If you purchased a condominium in the last 6 years and have been waiting for the right time to sell (or rent)- now is an excellent time. For the first time since 2007 our clients have been able to get not only their equity back, but sell for a profit. We are working with a number of sellers who are looking to make a move and we’ve been able to get them fantastic prices for their apartments. Williamsburg has come into its own- as of the hottest areas in the city to live with an incredible array of shopping, restaurants and neighborhood services.
If you have any questions about buying, selling, or renting in the city- give us a call. We’re happy to chat with you about trends we are seeing and new listings on the market.
Enjoy the beautiful weather to come, we all deserve some sunshine after the endless snowy winter!
Sincerely,
Christine Blackburn and Lior Barak
1300 sqft Penthouse Loft with Private Terrace
$5,500
Commercial Lofts
$1,100 - $7,000/mo
HISTORIC GREENPOINT TOWNHOUSE
$2,650,000
Gorgeous 1BR Loft with Balcony
$3,050
