New Williamsburg condo-hotel an emblem of nabe’s transformation

The Residences at the Williamsburg — two six-story condominium buildings at 135 North 11th Street that sit adjacent to the new 64-room Hotel Williamsburg — is, according to its promoters, the first luxury condo-hotel development in the area and is emblematic of the changes the once-industrial neighborhood has undergone over the past decade, according to the New York Times. The residential real estate market in Northern Brooklyn, including Williamsburg and Greenpoint, is now dominated by luxury condominiums, sales of which have been on the rise, according to appraisal firm Miller Samuel. 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. As for the Residences, the condo units, which are being marketed by aptsandlofts.com, are slated for completion by late October. Thus far, contracts have been signed on 17 apartments since the property hit the market in June. [NYT]