The latest news from our old Williamsburg obsession 80 Metropolitan: the building is now more than 50 percent sold, according to a press release from the developers. 80 Met, once the site of the Old Dutch Mustard Factory, is also FHA-approved and move-in ready. The closings are starting to hit public record, so let's take a look at the sales that got the building over that 50-percent hump. StreetEasy shows a few units that closed in late October for 2% to 6% above the final asking prices (oh, those pre-meltdown contract signings!). More recent closings have been 3% to 17% below list prices. The biggest discount? A $1.145 million 3BR, 2.5BA that sold for $947,000. The best deal for the developers so far seems to have been a 1BR, 1BA that was listed for $535,000 and closed in January for $575,000. Must have been the promise of all that stuff.
Another Burg new development that made its presence known via the Curbed inbox today was 125 North 10th Street, which last piped up with some dramatic, announced-with-a-megaphone price cuts back in September. The chops seem to have done the trick, because that building, too, is now more than 60 percent sold (including a couple sales over ask, like one unit that sold for $764,000 from a final list price of $729,000). Maybe that spirited defense also helped.
· 80 Metropolitan coverage [Curbed]
· 125 North 10th Street coverage [Curbed]