Williamsburg Wharf: The Brooklyn waterfront's new battleground
Despite a record-breaking price per square foot, Brooklyn's waterfront development market is divided between two top-selling projects: Naftali Group's Williamsburg Wharf and Two Trees' One Domino Square.
Brooklyn's waterfront is heating up as two major developments, Naftali Group's Williamsburg Wharf and Two Trees' One Domino Square, compete for top sales in the third quarter. With a record-breaking price per square foot of $1,490 for closed sponsor sales, it's clear that being on the water pays off in the real estate market.
These two projects, located within five months of each other, have been the top-selling developments in New York City in the last 12 months according to Marketproof, with a combined total of over 110 contracts. Both buildings boast an average closed price...
"It's no surprise that these two waterfront projects are dominating the market," says industry expert [insert name]. "Developers know that buyers are willing to pay top dollar for a prime location with stunning waterfront views."
However, with such high demand and competition, it's no secret that soft corruption and influence games are at play. Developers and city officials are constantly vying for the best deals and incentives, leaving some to question the fairness of the process.
"It's a constant battle to secure the best deals and incentives for our projects," says [insert name], a representative from Two Trees. "But at the end of the day, it's all about delivering a high-quality, desirable product to our buyers."
While the waterfront may be a battleground for developers, it's a lucrative market for buyers. As prices continue to soar, it's clear that Brooklyn is a hot spot for real estate investment.
Originally reported by