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Development in Williamsburg

Development in Williamsburg
Development in Williamsburg
Development in Williamsburg
Development in Williamsburg
Funded
Type:: House
Status:: Construction
Country: United States
City: New York
Address: 200 South 3rd Street Williamsburg, New York

Short description

This will include an estimated residential usage (26,000 square foot), a community facility (8,000 square foot), and 6,000 square feet of parking.

Full description

Williamsburg is one of Brooklyn’s most popular and exciting neighborhoods, which straddles the old and the new. It is an influential hub of the artist community but is being refined by a growing populations and rapid development of housing and retail space.

200 South 3rd Street currently consists of adjacent lots (50’ x 95’ and 43’ x 71’). R6 zoned with full DOB approved plans for an approximate 40,000-square-foot development.

This will include an estimated residential usage (26,000 square foot), a community facility (8,000 square foot), and 6,000 square feet of parking.

There are 30 residential units consisting of studio, one or two bedrooms, featuring 9ft ceilings, terraces and the building will have a shared rooftop.

Project is in progress.

Market analysis

They say, ‘if you make it here, you can make it anywhere.’ New York is one of the key cities of the world, constant leader of investment opportunities ratings of several years, and the major economic center of the U.S.

It is a home to dozens of financial corporations’ headquarters, well-developed industry, biotechnologies, Internet business – this makes New York City #1 in economic potential among the cities of the world. Real estate prices are stably high and increase constantly. Even the U.S. financial crisis of 2008 could not harm the local real estate market.

New York is the most densely populated city of the United States, which keeps the demand for accommodation high and increases rent rates, which means steady profits for an investor.

The city is ranked 9th in the world in terms of living standards, boasting great infrastructure and the most vivid life you could imagine. Only here you can have a TV star as a neighbor and drink coffee in a café every morning next to a Hollywood actor.