New Williasmburg Condos: 9inety North 5ifth & 229 North 8th Street

The buildings look nice. Not that outrageously priced and good locations.

I've experienced nothing but shameless behavior from aptsandlofts brokers. Telling me it's silly to have my own broker, non-existent offers on units that I need to hurry up and outbid, and how I should buy now because mortgage rates will be 10-14% in two years. Never anything illegal or beyond the extremes of shady dealings, but I felt that I wasn't dealing with a broker, just a bad stereotype of one. The buildings look nice, but watch your back. They aren't there to facilitate a purchase, they are just salesmen quoting from the marketing playbook. As long as you know that getting into it, it doesn't affect the quality of the actual condos at all.

outerburros--thanks for the heads up on aptsandlofts. i've actually never dealt with them but heard things similar to what you're saying.

cj2008, as with any broker, you should be wary of what they tell you. I don't think aptsandlofts is notably better or worse than any other brokerage I've dealt with, though I only met one broker there to be honest (he was fine).

As for the buildings themselves, I haven't checked them out, though I pass 229 North 8th often enough. Looks decent from the outside, but that's not much to go off. I will say location is pretty good, close to Bedford/train, as well as McCarren. It's not my favorite block, but it's all about what kind of deal you can get here. I don't know anything about the one of North 5th, though any Scarano building would make me uneasy without a whole lot of research. The location is better though, in terms of nearby retail.

Both buildings opening this week with North 8th having nearly 200 buyers attend the preview and North 5th having nearly 150 buyers attend. Feedback was fantastic on both buildings and both are geared up to have successful marketing campaigns.

outerburros / cj2008 - please reach out to me. i'm curious to why you are not happy with our services and would appreciate the opportunity to hear your issues. dmaundrell@aptsandlofts.com

Yawn @ dmaundrell

http://therealdeal.com/newyork/articles/new-york-city-s-future-ghost-towers

http://therealdeal.com/newyork/articles/more-foreclosures-likely-as-williamsburg-inventory-grows-aptsandlofts-com-david-maundrell-jonathan-miller

"both are geared up to have successful marketing campaigns."

how unusual given how few are geared up for successful campaigns. I thought most set out be unsuccessful and were shocked when they actually sold any units.

229 NORTH 8th IS NOW KAPUT

JMGJAG, any more info on this? I'm still seeing the building on aptsandlofts' website, though that doesn't necessarily mean anything of course.

bjw, it's still on their front page, but gone from their new developments listings\
I'm guessing that it's been pulled due to lack of interest or they lost it to another broker.

kaput meaning what ?

I was at 229 N 8th last weekend. And they were offering the "rent-to-own" feature, where the building has a final C of O, but not enough units in contract to help buyers obtain financing. (I think is was like 6 or 7 of the 50+ units are under contract). So the sponsor is offering buyers to pay "rent" and live there until the building is 70% in contract. 100% of the rent paid would go towards the down payment.

Anyway, its a good idea but the building is still overpriced. All of the 1 bedrooms (really just large studios as there are no doors) are asking for over $450K, except for the ground floor unit. Nice layout but still overpriced considering the many condos about to come up in that area soon.

Do they accept Section 8 vouchers?

AH, yes, but only 50% of the rent paid would go towards the down payment.

don't know the building bu $450k for glofified studios seems mighty steep.

As of this morning, aptsandlofts.com is not listing units in this building for sale.
The building itself is still referenced on their home page, but is gone from their
new developments list.
Enter 229 n.8 st into the Streeteasy address search, select the building, select an apartment,
and then click "additional details at aptsandlofts.com" Nada, zilch.
So, they're having computer problems? Or, it's gone.
You can also try an open house search on NYT.

Wow, people still live in Williamsburg? I would have thought that the last of the employed hippsters would have headed back to the 'big island' by now. I simply assumed that the WB was abandoned and becoming over grown with the indiginous elements. Little by little the the two indiginous species, the ultra ultra orthodox and, low income genetic decendents of seventeenth century Spanish merchants, seafarers, and explorers would repopulate the hood. Both groups, with their super human powers of procreation and reproduction, should be able to over take the neigherhood with as little effort as a blackout. The few hippsters left behind will be easily consumed by the native species...like Austrailians ridding themselves of a few unwanted bunnies.

Looks like 229 n 8th has gone rentals.