New York, N.Y.–Closings have gotten underway at The Edge, a newly erected condominium property in the Williamsburg community of Brooklyn, N.Y., and marketing efforts are reeling in the buyers at the 565-unit property, which holds the distinction of being the largest new residential development in Brooklyn.
A project of New York City-based Douglaston Development, the Edge occupies approximately 7.5 acres along the Williamsburg waterfront and is on track to qualify for LEED Silver certification. Architectural firm Stephen B. Jacobs Group is behind the design of the complex, which consists of South Edge, a 30-story structure with 360 residences, the 15-story North Edge featuring 205 residences, as well as nearly two acres of open space. The buildings offer a wide range of layouts including studios, one-, two- and three-bedroom units, duplexes and penthouses. The property also features a 40,000-square-foot amenities center that encompasses two fitness centers and a spa, two theater-screening rooms, a virtual reality game room, resident lounge areas, private party room and a children’s playroom.
Traditionally, summer is not exactly a busy season for condominium sales, but the opposite proved to be true for The Edge, where the amount of offers received jumped by 80 percent. Sales and marketing firm The Developers Group is at the helm of the marketing activities. “This summer has been extremely busy,” Highlyann Krasnow, COO and executive vice president of sales at The Developers Group, tells MHN. “There has been a huge increase in traffic and sales.” Dropping the price tag on some of the units to as low as $390,000 went a long way in attracting prospective buyers, as did the tangibility factor. “The Edge is a finished product, so seeing the residences makes buyers want to make a decision and buy much more quickly, and we can close right away.” Additionally, the building’s FHA-approved status has surely expanded the property’s reach among hopeful condo owners.
The swell in interest in condominiums, however, is not exclusive to The Edge. “We’ve seen a huge increase in sales in 2010, not just at the Edge in Williamsburg, but at our projects in Queens, Brooklyn Heights, Long Island City and Manhattan,” Krasnow says. “The condominium market itself is getting better.”