Is Williamsburg's Edge Property on the Market?

Wednesday, February 21, 2007, by Robert

2007_02_The%20Edge%20For%20Sale.jpg

So, yesterday we wondered what was going on with the big Williamsburg Waterfront development known as The Edge. Actually, it turns out that the big property along Kent Avenue might be for sale for $210 million. A tipster directs us to this Craigslist ad, which says, in part:

1st Block - approximately 113,398 sq. ft. of land upland of existing bulkhead, in addition the parcel also includes approximately 84,000 sq. ft. of land under water.

2nd Block- approximately 123,506 sq. ft. of land upland of existing bulkhead, in addition the parcel also include approximately 80,000 sq. ft. of land under water of which approximately 48,000 sq. ft. above the L train tunnel (which is approx. 80 feet below grade) is subject of a permanent easement to the City Of New York.

With also an additional Air Right for street and three piers adjoining the site. Clean Environmental....Asking $210,000,000 (Estimate: $166 per sq.ft. buildable for Residential/Retail and $136 per sq.ft. for Affordable Housing Buildable.)

It certainly exactly matches the location of the property where The Edge is supposed to go.
· Is Williamsburg's Edge Losing Some Edge? [Curbed]

UPDATE: The ad appears to have expired on Wed. night, but if you click through, there's a screencap after the jump.

2007_02_CL%20Ad.jpg

Filed under Brooklyn, Brooklyn: Williamsburg, Real Estate For Sale,

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Comments (20 extant)

Is this some kind of due diligence on the broker's part? Maybe this is a sign that the empty lot is about to burn down:

http://www.curbed.com/archives/2006/05/03/greenpoint_burning_the_morning_after.php

By thfs at February 21, 2007 5:43 PM

is this some kind of due diligence on the broker's part? maybe the craigslist ad is a sign that the vacant lot is going to get torched, a la GTM.

By thfs at February 21, 2007 5:45 PM

This is a broker fishing for buyer's and wasting everyone's time. A potential seller is going to the market with an exclusive broker who has the ability to market this property internationally and get the highest price. They are not doing an off market transaction with a small brokerage shop. A deal this size won't go under the radar.

By Anonymous at February 21, 2007 5:46 PM

Hey ConEd or Entergy? Looks like a good site for a nuke or gas fired generating plant.

By big shot at February 21, 2007 5:49 PM

Way to go "Pari Passu Realty." Developers are always checking Craigslist for good nyc land deals...

By UWSider at February 21, 2007 5:54 PM

WHY would this ad be on craigslist? Totally bogus...

By Kamasutra Jones at February 21, 2007 5:55 PM

$166 pbsf seems cheap for waterfront property in a hot market. maybe a sign of the impending condo disaster in wburg. or as #1 & #3 noted, a bs attempt by "pari passu" realty to reel in a buyer.

By nola at February 21, 2007 6:08 PM

still, if they get a deal going, 6% of $210mm is a pretty good return on their $10 listing fee/"investment"

By greg at February 21, 2007 6:33 PM

what the hell is going on? i'm interested. give me the details

By what the buck? at February 21, 2007 7:58 PM

10.

I'd spend 210,000,000 on someone selling "two full city block"

Is the edge really dead? similarly, I heard that the company planning a condo/hotel was selling their lot in South Williamsburg on B'way and Kent along with the plans of a 20 story building they were originally going to develop...

Anyone?

By Anonymous at February 21, 2007 8:34 PM

11.

#9: that deal went through several months ago(check out propertyshark.com). the seller was never going to build it anyway is my understanding.

By nola at February 21, 2007 8:37 PM

12.

10... what else do you know? is the edge dead?

By who's nola? and #9 at February 21, 2007 8:54 PM

13.

It's just a joke. I placed the add. It will be gone in a few. Sorry

By Sam Neely at February 21, 2007 8:59 PM

14.

don't know about the edge.

By nola at February 21, 2007 9:37 PM

15.

I'm going to be selling a piece of prime infrastructure connecting Downtown Brooklyn to the City Hall area of Manhattan. It's a one of a kind investment opportunity in a landmarked area, convenient to all neighborhood facilities. Completed in 1883, this really is considered a local gem.

Added bonus: extensive car parking space from side.

Serious buyers only contact billstickers@realestateny.com

By bill_stickers at February 22, 2007 9:00 AM

16.

I have information from a very reliable source that the Edge is not being sold. The project is still moving ahead as planned.

By reliable source at February 22, 2007 9:31 AM

17.

#16: If the Edge is still moving ahead as planned, why have we not seen any sort of advertising for it? There is no website that I can find, there is not even any signage on the site. And why have they not filed anything new since last April? And why would there be a land for lease sign on the lot?

By nigel at February 22, 2007 10:15 AM

18.

I talked to people at Northside Piers (next door to the Edge), they told me that the Edge is not going to be moving for atleast another 4 to 6 months... what exactly does that mean? Well, I would imagine that they are waiting around to see how well Northside Piers will be selling. If the Edge actually hits the ground this summer, it will be about 8-12 months behind Northside Piers in sales, promotion, etc.

#17, good point - why have they not done anything since Spring of 2006, and why are they now renting this lot?

If they are renting it out, who would rent this lot, for what purpose?

By Ricky at February 22, 2007 11:02 AM

19.

there's too much chatter going on for the Edge people to just sit back and watch their reputation tarnish... i mean, if they are still "moving ahead as planned" #16, why not step up and put an end to the speculation?

By johnnyworksalot at February 22, 2007 9:25 PM

20.

All quiet on the 184 Kent end too. What is going on with Williamsburg's waterfront?

By Anonymous at February 23, 2007 7:05 PM