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Above is BM1’s first peak at the Domino Sugar Factory Project in Williamsburg, Brooklyn. The buildings surrounding the main factory have almost been completely demolished. We will periodically keep an overhead eye on the project for those who would like to see the progress. We wonder how similar the structures will be, as compared to the renderings released last year. Supposedly the building will offer low income housing, luxury rentals, and condo sales.
Tags: Brooklyn · Brooklyn Real Estate NY · Real Estate · Williamsburg
We are certainly in a seller’s market, with supply and demand heavily offset. Condo sales in Williamsburg alone have risen close to 150% in the last decade. Bidding wars have become the norm, as homes are selling for record highs. With the opportunity to sell while the market is peaking one would assume to see a significant increase in supply of condo resales. Certainly supply is still very low, in many areas, as we just received 19 offers on an East Williamsburg 1 Bedroom condo within only 1 week of listing the property. Where will the other 18 buyers find their homes? Entering 2013 the buying frenzy began, partially due to very low interest rates, rising rental prices, and the overall sense that the economy had finally come out of it’s lull. First time buyers swarmed the market, determined to escape the severe rental price hike, but most were unable to purchase a home. Entering 2014, less first time home buyers are in the hunt, however bidding wars continue. We expect 2014 to be a year to watch, as supply will increase, however will prices level off?
Tags: Brooklyn Real Estate NY · Real Estate
We have had our eyes on this project since it was a wet 2 story hole in the earth, and are pretty excited about the finished look. The building, standing on the corners of North 11th & 12th Streets, on Bedford Avenue, looks much better then the renderings that were floating around a few years ago. The goliath is supposedly going to open it’s doors to the public for lease only, however we recently caught wind of a possible change in plans (some for sale & lease?)…… We’ll keep our ears to the pavement. We expect the first release of units to be available this summer.
Tags: Brooklyn · Brooklyn Real Estate NY · Real Estate
Phoenix, possibly one of the most popular rock bands, announced a surprise concert at the Williamsburg Music Hall this evening. Fanatics begin lining up in front of the venue as early as 7am. I myself am a huge fan and was hoping to snag a few tickets on stubhub, or craigslist, and reached out to some sellers. Unfortunately for me, the resale of these tickets are just too pricey. I was told by a seller that a buyer had already offered in excess of $400 for just 2 tickets. WOW. I guess I’ll have to wait until the show at the Barclays. I’m fairly upset, as I am certain that a Phoenix show in such a small, intimate venue, will be simply AMAZING.
A family member recently purchased this 3Bed condo on the 12th floor at Schaefer Landing, and while I must admit having reservations about the location, and building, this unit simply wowed me. The views speak for themselves. For $1,260,000 the 1,650 square foot 3Bed/2bath was purchased at $764persqft, which in my opinion is a great investment for a condo that is perched directly over the east river, allowing for a complete Manhattan view that includes Midtown, Downtown, the Williamsburg Bridge, Manhattan Bridge, and Brooklyn Bridge. Travel just a few blocks North, past the Williamsburg Bridge, and a similar listing would sell at well over $1,000persqft. Once the Domino Sugar Factory project is complete the average price per square foot at Schaeffer Landing will surely skyrocket. All the building needs is a bit of a makeover, particularly in the lobby and common areas. Check out availability in the South Tower here, and North Tower here.
Tags: Brooklyn · Brooklyn Real Estate NY · Real Estate
It is clearly a sellers market, but does that translate into bad timing for investment? As the resales market begins to surge, inventory is far below demand, pushing prices up into the clouds. The initial thought that likely comes to mind is to steer clear of investing in Williamsburg, for the time being. This may not be the case, as 37 new developments are on the rise, and major developments such as the Two Trees project surrounding the Domino Sugar Factory, will indeed push the average price per square foot further North over time. We will see plateaus as several buildings open their doors at the same time, however, once the building fill the price persqft will continue to rise. There are several other factors to consider, which we will elaborate on in an upcoming post.
Tags: Brooklyn Real Estate NY · Brownstone · Condo · Greenpoint · Loft · Real Estate · Williamsburg
For $3,200 and one free month, averaging $2,944, we feel that this 850sqft 2 bedroom is a great deal. The multifamily dwelling houses 6 apartments that are undergoing a top to bottom renovation. This particular space is on the 3rd floor (top), and boasts skylights throughout the apartment, keeping it nicely sun-lit all day long. Everything has been redone, and we mean everything; from new drywall, flooring, and recessed lighting, to ceiling fans, modern bathroom, condo level kitchen with dishwasher & microwave, and a stacked Bosch washer/dryer. To really top it off, each room has separate air conditioning control. The building stands on Frost Street, about 5 minutes away from the Graham Avenue L Train. Great space.
Tags: Brooklyn · Brooklyn Real Estate NY · Rental 'Pick of the Month' · Williamsburg
March 15th, 2013 · 1 Comment
We’re actually surprised at the lack of stores selling instruments and musical equipment in Williamsburg, considering it is has been a boon for creatives for more than a quarter of a century. Main Drag Music is really the only store in the neighborhood that caters to guitarists and rhythm section players, but luckily for us it is incredibly well stocked with vintage gear and all the accoutrements you’ll need to keep your axe in shape and playing well. The store really impresses with quantity and selection, with many fantastically preserved vintage drum kits and walls of innumerable guitar cabinets. We’ve been going to main drag for years and haven’t once been met with sass, so cheers to the staff for breaking the mold of bad service in Williamsburg.
HEARTH FROM ABOVE — Did we mention that Main Drag occupies the ground floor of the famous Esquire Building? The converted factory is the first of its kind in the neighborhood, kicking off the trend of rehabbing factory space into incredible loft apartments on this side of the river. As of 2001, the factory has gone from manufacturing shoe polish to housing well-heeled neighborhood pioneers looking for raw loft spaces with four digit square footage and upscale industrial finishes.
Tags: Brooklyn · Brooklyn Real Estate NY · Loft · Real Estate · Williamsburg
We wanted to thank everyone for attending our Grand Opening event at our new boutique office at 135 N7th Street. It was a huge success, as over 200 people attended. It was nice to enjoy conversation and cocktails with all of you. Special thanks goes out to Drew Z for his outstanding custom cocktails, and Brent Young for bringing the meat from The Meat Hook. The pulled pork sandwiches were outstanding. Keep an ear to the pavement for Brick&Mortar’s next event.
Tags: Brooklyn · Brooklyn Real Estate NY · Williamsburg
We’ve counted over 6 Thai Food restaurants off of the Bedford L Train, with Qi as the latest addition. Qi Thai Grill recently opened it’s doors on North 9th Street, between Bedford Avenue and Driggs, bringing authentic Thai street food onto their menu with a modern twist. The menu is made up of standard dishes such as Pad Thai, and new comers like Cinnamon Pork, Sea Bass in a Pot, and a variety of delicious appetizers, soups, and deserts. The restaurant group behind Qi Bangkok Eatery in Midtown, and Qi Asian Eatery in Union Square, picked 3 talented specialty chefs to create their ambitious grill focused menu. I’ve dined at Qi twice now, and really enjoy the food and atmosphere, but Chai Home Kitchen on North 6th & Berry Street is still my favorite (Qi’s menu is definitely impressive and probably more creative then Chai’s). Pay Qi a visit and let us know what you think. 176 N9th Street, 718.302.1499.
Tags: Brooklyn · Brooklyn Real Estate NY · Williamsburg Eats