Sweet baby Schaefer Landing, the twin-building luxury pioneer of the South Williamsburg waterfront, has a tendency to leave residents feeling stranded. In fact, even the building's retailers have jumped ship in the past, perhaps because of the somewhat isolated locale. But who doesn't love a motivated seller?! Check out this ad that popped up on Craigslist for unit #20A in the 26-story north tower. Some color: "Bank Says Bring Them A number in the mid 800's and the Property is Yours." "Purchased for tens of thousands more!!" "BELOW MARKET," "Owner is Very Motivated" and "SHORT SALE." You get the picture. Records show that #20A sold for just over $1.2 million in November 2006, so if this is in fact the same apartment, that sounds like quite the bargain, no? Nope, says a commenter on the StreetEasy message boards: "Apartment is probably worth half what the seller bought it for -- this is problem with short sales -- people think b/c they are getting a property at 20% less than mortgage, they are getting a 'steal.'"
· 2br - Spring Wholesale Opportunity Don't Miss Out [CL]
· Schaefer Landing [StreetEasy]