One of the knocks on Williamsburg's Edge has been the complex's refusal to cut prices, even as its waterfront neighbor Northside Piers repeatedly broke out the axe, and the Williamsburg condo market pretty much imploded. Well, cross that complaint off the list. The Edge is giving up on its $900/sqft aspirations, at least partially. A press release has just gone out announcing Edge's first ever PriceChops, though the level of carnage is unclear. Reductions will come only to the 30-story south tower which has 300 apartments. We're not sure how many units will be affected (we've requested that info and will update when we receive it), but the release offers up one example. Behold, the first Edge-ecution!
“With occupancy approaching, and the market in the midst of a strong resurgence, we felt it was time to adjust some of our pricing in order to attract more buyers and give them an even greater opportunity to purchase in The Edge,” said Highlyann Krasnow, Executive Vice President of The Developers Group, the exclusive sales and marketing firm for the project. For example, an 827-square-foot one bedroom, one bath home in the South building, with Northern views and floor to ceiling windows, is now priced at $580,000, from $670,000. Adding to the development’s affordability, The Edge has also lowered its monthly common charges and has a 25-year tax abatement. Folks, that's $700/foot. The end is nigh! Closings in the building are expected to kick off at the end of the month, starting with the first 20 floors of the south tower. Will it be a busy weekend in the Edge sales office?
· Edge [Official Site]
· Edge coverage [Curbed]