real estate report: Brooklyn's inventory balloon
- 01/09/19 08:39 AM
New residential projects are coming online fast and furious, but some have expressed concern about how quickly they can be absorbed
When sales launched at the Baltic in Park Slope back in 2016, the condo building had the market to itself. But then things started softening, and more nearby developments started launching sales.
By the end of 2018, there were about 1,000 condo and rental units on the market in just that one neighborhood.
To sell the remaining apartments with that new competition, the project, developed by Michael Stern’s JDS Development, had to change its strategy, said Robin Schneiderman, the director of business development … (2 comments)
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New residential projects are coming online fast and furious, but some have expressed concern about how quickly they can be absorbed
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