Brooklyn's Largest Residential Development Has Initial Closings

Brooklyn's Largest Residential Development Has Initial Closings

Residential News » Residential Real Estate Edition | By Michael Gerrity | August 13, 2010 2:17 PM ET

The Edge, Brooklyn's largest new residential development, has commenced closings on the development's first two towers.

With immediate occupancy now available, buyers can move into their new homes and be part of The Edge's growing community which includes local retailers and a 1.75 acre open parkland.

"We are excited to have reached this milestone and to begin welcoming residents," said Jeffrey Levine, Chairman of Douglaston Development, which is developing The Edge.  "This is a spectacular new residential development that has left its imprint on Williamsburg, and it is an amazing feeling to realize that buyers who have been fervently awaiting the completion of The Edge can now settle in and enjoy all the benefits that come with living in such a diverse and vibrant community."

A recent price cut on select homes helped spur what is traditionally a quiet season into one of this project's busiest times.  In addition to a major increase in overall foot traffic, The Edge saw the amount of offers received go up by about 80 percent.

According to The Developers Group, the exclusive sales and marketing firm for the building, there is still a variety of layouts facing both Manhattan and Brooklyn available and starting at $390,000. Helping to eliminate mortgage concerns, buyers will be pleased to find that the building is FHA-approved and there are several preferred lenders available with zero percent presale requirements and competitive rates.

Located on the redeveloped North Williamsburg waterfront, South Edge is a 30-story tower housing 360 residences, while the 15-story North Edge offers 205 residences.  Both buildings, which are striving for LEED Silver certification, offer homes ranging from studios to three bedrooms, as well as duplexes and penthouses.  Buyers can currently visit four fully-furnished model residences, each boasting eco-friendly design features, beautifully-appointed finishes, energy-saving appliances and incredible views.

With amenity spaces scheduled for completion by September, residents will be able to take advantage of the development's spectacular 40,000-square-foot facilities, offering everything imaginable from an indoor/outdoor pool with outdoor sun terrace overlooking the East River and Manhattan skyline, two full-service fitness facilities and onsite spa.  For those interested in other recreational pursuits, there are also two theater-screening rooms, a virtual reality game room, resident lounge areas, private party room and a children's playroom.  Also on hand are hybrid Zipcars, but the development is conveniently located just three blocks from the subway and one stop from Manhattan.

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