Williamsburg/Brooklyn: Still leaping forward

NYTimes covered yesterday a report on Williamsburg in Brooklyn. The transformation process is still going on in the former blue-collar neighbourhood. Maybe faster than ever before as now boutique hotels and high-end appartements come into the market:

„[…] The project — a pair of six-story condominium buildings and a 64-room hotel running from North 11th to North 12th Streets near McCarren Park — is being marketed as the first development in the area to combine luxury apartment living with access to hotel amenities. Once the project’s Hotel Williamsburg opens, as early as March, residents of the condominium buildings will be able to lounge at the hotel pool or rooftop bar, order an in-home massage or have the concierge book a table at Nobu.[…]“

The target group has a special taste:

„[…] The 57 apartments, which are on sale from about $446,500 for a one-bedroom unit to $1.6 million for three bedrooms, will come with fancy finishes: appliances from both Bosch and Liebherr, Brazilian walnut flooring and a programmable system that allows residents to remotely control lighting, temperature, sound, surveillance and even the drapes with a computer or mobile device. One of the developers uses that technology in his own apartment to chase his cat with an automatic vacuum cleaner from his office, said Jennifer Lee, director of new business development at aptsandlofts.com, which is marketing the condos.“

„[…] The residential real estate market in north Brooklyn, which includes Williamsburg and Greenpoint, is dominated by luxury condominiums, sales of which have been rising. Both the number of apartments sold and the price per square foot were higher in the second quarter of this year than in the first, and higher than the same period last year, according to a market report by Miller Samuel, a New York appraisal and consulting company.

The higher prices reflect a shift toward buying larger apartments, said Jonathan Miller, the company’s president, adding that the area had increased its share of the overall Brooklyn market in the last quarter. […]“

The full article can be seen here…


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