Williamsburg condominiums in final stages of construction

Real Estate Weekly, Dec 12, 2001

Insignia Douglas Elliman, which blankets Manhattan as the city's largest residential real estate firm, has extended its reach into Brooklyn with a condominium complex in the final stages of construction at 100 Havemeyer St. in Williamsburg.

Now a trendy neighborhood for artists and the upwardly mobile, the area of Williamsburg lying north of the Williamsburg Bridge has been handicapped by a lack of new housing.

To the rescue is Williamsburg Mews, made up of three contiguous four-story buildings, each with eight loftlike residences, on a site which was previously a parking lot.

Half of the 24 moderately priced condominiums sold within the first two months the property went on sale, starting Sept. 30, said Helene Luchnick, Insignia Douglas Elliman executive vice president and exclusive agent for Williamsburg Mews. Occupancy is projected for February.

"Williamsburg Mews is unique from several standpoints," said Luchnick. "It's new construction in an area of fading housing stock, where most new residences in the neighborhood were conversions of older buildings into rental units.

It is also the first project in Brooklyn to be marketed by Insignia Douglas Elliman. The Mews, being the first condominium in the hip "northside," is encouraging other owners in Williamsburg to now bring on their developments as condos rather than rentals. We also feel its success will provide a launching pad for other ventures by Insignia Douglas Elliman in the boroughs of New York."

The one- and two-bedroom floor-through apartments at 100 Havemeyer St., ranging from 790 to 1,500 SF, are priced from $325,000 to $475,000, according to Luchnick, who pointed out that the prices are so reasonable they may tempt long-time renters to buy

Developer of 100 Havemeyer St. is Hope Houses L.L.C. of Brooklyn. Project architect is Karl Fischer Design of Montreal.