The condos at 88 South 1st Street in Williamsburg hit the market in January, a collection of four townhouses revamped into studio through 2BR apartments going for "glitzy opulence." The apartments were asking $379,000 to $725,000, and a bunch of apartments were listed as already in contract or as having accepted offers. Since then, no closings have hit public record, and we've heard from buyers that the sponsor has missed deadlines for appraisals and walk-throughs. One buyer heard that the developer was thinking about taking the building rental.
One rental listing did indeed hit the market this weekend. (The unit is a 2BR, 2BA asking $4,000/month.) Our buyer tipster has already made plans to move on, but there's no evidence of amendments filed to switch from condos to rentals. So our tipster wonders: "I'm not sure of the legality of listing something for rent when there is an underlying contract to buy, but it doesn't sound kosher to me." Anyone know? Any other rumors about this building's fate in the comments, if you please.
· 84 South 1st Street [StreetEasy]
· Four Brick 'Burg Townhouses Hit the Market as 31 Condos [Curbed]