Once upon a time, a magical place called Williamsburg existed where people could live on a working-class wage. Over the years, Williamsburg grew more and more popular, until eventually all the artists, musicians and Puerto Ricans got pushed out by people who could afford to buy $712,015 condo. Yes, you read that right. A $712,015 condo, and that number is only going up.
The average price of condos in Williamsburg and Greenpoint has jumped dramatically in the past year, to an average price of $712,015, which is $44,000 more expensive than the last quarter, and $89,000 more expensive than the first quarter. If real estate figures give you a headache, allow us to simplify: The Edge, and lots of it. So much for the Great North Brooklyn Condo Bust of '09!
The figures aren't much of a surprise to anyone who's walked near the Williamsburg waterfront lately—hello, Duane Reade, Taavo Somer-designed restaurants, and sleek new construction—but it is a surprise to see just how much some people are willing to pay to live in the GQ-sanctioned "Coolest City On The Planet."