Recently when I was in Williamsburg, Brooklyn showing condos for sale to an investor I came across a new selling technique from the developers. An up front discount on the selling price that would be honored as long as the client signed a contract by a specific date. New York City is probably one of the few real estate markets that does not slow down to a halt in the Fall and Winter months. We are lucky to be a cosmopolitan city with people moving in and out at all times of the year. Even for rentals there tends to be a steady stream of clientele.
So, when I was in Williamsburg this past Wednesday (if you are following me on Twitter you would already know that) I was shocked to see a 10% up front discount to clients on contracts signed by September 1st, 2010 for a new construction condo for sale on Kent Avenue. The building is selling quite well and expects to begin closing on it's second phase right before the Holiday Season. The first phase only has 1 unit left! What does it mean? Is Beford Avenue in danger of falling off into the East River? Not likely. The developer simply just wants to complete the project smoothly as we come out of a low market.
For a home buyer or investor this is great news. Not only is the buyer getting a great deal but they are getting a great deal at a discount in a high rise building with a pool! Try spending $700,000 in Manhattan in see what amenities you get. Definitely not a 2 Bed/2 Bathroom condo on the water front with a 25 year tax abatement. If you are looking for a great condo for sale in Williamsburg, Brooklyn contact me today to discuss your options. Discounts will not last forever so STRIKE WHILE THE IRON IS HOT and lock into a great deal and low interest rate.