Building Rental Activity
Williamsburg Sales Report
Williamsburg Rental Report
August cleared the board at the South Tower. Both sale listings went to contract: #5T, a one-bedroom asking $1,290,000, found its buyer in twenty-eight days and went to contract August 7, and #25D, the 1,157-square-foot two-bedroom asking $2,295,000, followed with a contract reported August 20 after thirty-two days on market.
That leaves nothing publicly listed for sale at the building — zero active listings, for the first time this year.
Bottom line — Two contracts, each inside about a month, and an empty board behind them. An owner thinking about selling wouldn't be entering a crowd — right now, they'd be the only listing in the building.
Three units are listed for rent at the South Tower — #22A, a one-bedroom at $6,200; #16H, a furnished two-bedroom at $9,500; and PH4D, a 1,382-square-foot three-bedroom penthouse at $13,500, new to the board in mid-August and available now. Behind them, seven units are in contract — a 70% lease-up rate — topped by PH3E, the 1,987-square-foot penthouse, in contract from a $17,500 asking price.
The contracts came fast: three I-line studios asking $4,295 to $4,300, each in contract within two weeks; two one-bedrooms asking $6,050 and $6,250, in five days and two; and a two-bedroom asking $7,500, in six. Not one of the ten — active or in contract — cut its asking price along the way.
Bottom line — Seven contracts in a month with zero price cuts, and the two penthouses bracket the board: one spoken for from a $17,500 ask, one available now at $13,500. Renters are moving on this building within days — a vacancy here shouldn't wait either.
| Apt | Size | SF | Price | Reduction |
|---|---|---|---|---|
| 5T IN CONTRACT |
1 Bed | 599 | $1,290,000 $2,153/SF |
|
| 25D IN CONTRACT |
2 Bed | 1,157 | $2,295,000 $1,983/SF |
| Apt | Size | SF | Rent | Reduction |
|---|---|---|---|---|
| 14I IN CONTRACT |
Studio | 509 | $4,295 |
|
| 20I IN CONTRACT |
Studio | 509 | $4,295 |
|
| 23I IN CONTRACT |
Studio | 509 | $4,300 |
|
| 8B IN CONTRACT |
1 Bed | 688 | $6,050 |
|
| 8T IN CONTRACT |
1 Bed | 599 | $6,250 |
|
| 4P IN CONTRACT |
2 Bed | 878 | $7,500 |
|
| PH3E IN CONTRACT |
3 Bed | 1,987 | $17,500 |
|
| 22A | 1 Bed | 681 | $6,200 |
|
| 16H | 2 Bed | 1,101 | $9,500 |
|
| PH4D | 3 Bed | 1,328 | $13,500 |
Forty-five homes closed in Williamsburg over the past month, at a median of $1,580,000 and $1,497 per square foot. The number that matters: sellers who closed gave up nothing off final ask on average — dead even — with closings like 258 Richardson Street's, at thirteen percent above ask, balancing the ledger. Among the closings with a running clock, the average wait was seventy-six days.
Inventory: 151 homes actively listed against 84 in contract — about three and a half months of supply at August's closing pace. The count eased from July's fifty-seven closings and the median moved with the mix, but the balance between shelf and pipeline barely budged.
Bottom line — Three and a half months of supply and full-ask closings is a seller's tape. In this market the asking price isn't an opening bid — it's the number the market actually pays, so set it where you mean it.
One hundred seven units rented across Williamsburg in thirty days, with seventy-six more in contract. The median lease signed at $5,234, the average at $5,804, and the range ran from $3,000 at the entry to $17,995 at the top.
The tempo stayed quick: twenty-two days on market on average, and against 262 active listings the pace works out to under two and a half months of supply — August essentially matched July's depth.
Bottom line — More than a hundred leases a month, a three-week clock, and five-figure rents clearing at the top: Williamsburg's rental market has both depth and ceiling. Price to the tape and a unit doesn't wait.
New York, NY 10003