Roughly 600 apartments are headed to South Williamsburg by the end of next year.
All but 19 of the total apartments in the pipeline will be market-rate units. The residential component of the Domino Sugar Factory development was not included, since the project is not slated to open until 2017. Andrew Barrocas, president of brokerage MNS, said he expects residential properties will ask between $1,100 per square foot and $1,400 per square foot.
Projects include a 13-story building at 282 South 5th Street; a seven-story property at 248 Broadway; a complex with eight seven-story buildings at 433 Kent Avenue; and Xinyuan Real Estate Company’s Ooston condos at 421 Kent Avenue.
“The price points have gotten to the point where you could no longer get away with building at a certain [lower] quality,” Barrocas told DNAinfo. [DNAinfo] — Mark Maurer