Edge edges out competition by price in W’burg

TRD New York /
Feb.February 13, 2012 02:30 PM

Condominiums at waterfront building the Edge, by Douglaston Development, topped the list of residential sales by price in Williamsburg last year, Crain’s reported, citing a broker from the Corcoran Group.

Two penthouse units at 22 N. 6th Street, the Edge’s south tower, marked the neighborhood’s priciest sale, at $2.95 million, according to Debra Kavaler, a broker and and senior vice president at Corcoran. The neighborhood’s second largest deal was at the Gretsch, a re-purposed factory building at 60 Broadway, where a 2,400 square-foot penthouse sold for $2.85 million, Kavaler told Crain’s. A $2.7 million sale at Toll Brothers’ 30-story Two Northside Piers was the third largest sale of 2011 in Williamsburg.

Third quarter numbers in 2011, provided by Propertyshark.com, also showed the Edge doing the largest volume of sales of any building in Williamsburg, with a median price of $705,229, and selling the most units of any building in New York City in the first two quarters of last year. In that same time period, the Edge also sold more units than any other residential building in New York City had in all of 2010.

“The top two sales [of the year] exemplify that the neighborhood is attracting buyers who want to make a more permanent move to the area,” Kavaler told Crain’s. “Just a few years ago there were only a handful of sales over $1 million now they are edging up to $3 million.” [Crain’s]


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