Through and Through, Williamsburg Is This Brooklyn Broker’s Favorite

David Maundrell is the president of Aptsandlofts.com, a full-service real estate brokerage in the Williamsburg section of Brooklyn. He spoke recently with The New York Sun’s about Brooklyn’s hot neighborhoods.Q: How has the development of the Greenpoint and Williamsburg waterfront changed the market, and how have prices been affected in the last year?A: Prices have gone up dramatically in the last year, between 25% and 40%. Williamsburg is becoming a more attractive place. It was a very, very large rental community, and the people who rented knew the pockets of good neighborhoods. They didn’t need to be sold by a broker. They know it already and they’re happy there.Are there still deals to be had for buyers in Williamsburg?Absolutely. There are two new projects underway. One, called NOLA, is around the corner from the L train. It’s on a great street in a very safe part of Williamsburg. You can get a two bedroom for $399,000 in that building. Tower 78 is also coming out, with lofts with ceilings from 16 feet to 20 feet. They start at $415,000. Buyers who are coming in the initial phases tend to do well. Also, Broadway Riverview is the third rehab on Broadway. It was an old hotel. It’s a really cool building. Broadway is going to be huge in the next five years. There are over five projects scheduled on the Broadway main strip.What are some of the hot areas in Brooklyn now, aside from Williamsburg?Greenpoint is going to be an amazing place. It has historic buildings and tree-lined streets, and it’s one of the safest neighborhoods in New York City. It’s a great neighborhood if people can deal with a little inconvenience with transportation. The G doesn’t go directly into Manhattan, but crosstown in Brooklyn. But if someone has a car, Greenpoint is a great place to live. I see a lot of great things happening there.Where are there good deals on rentals in Brooklyn?A lot of people are renting now in Bushwick, as long as they stay on the L line. Usually the artists come in first and other people follow. The artists look for space at a reasonable price.You can find a two-bedroom for $1,100, renovated. Greenpoint also has good rental deals and it’s a safe neighborhood.If you were advising a young couple looking to buy their first home in the city, where would you suggest they look?I would say Williamsburg. Its growth has just begun. Once redevelopment and rezoning hit, Williamsburg is going to be a brand new neighborhood, like Battery Park City. It’s in the very beginning stages overall, but with the brand new buildings and lofts going up, Williamsburg will become what Park Slope and Brooklyn Heights are now.

Through and Through, Williamsburg Is This Brooklyn Broker’s Favorite

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