Williamsburg Inventory Expected To Double

2009_6_npiersfire.jpgAccording to brokerage Apts & Lofts, an estimated 2,818 new apartments will enter the Williamsburg market by the end of the year, and 2,766 apartments are slated to pop up in 2010. The prediction is that rising inventory combined with new mortgage guidelines will mean many more developments falling into foreclosure. “It used to be enjoyable, exciting to open a new building. Now it’s nerve wracking,” Apts & Lofts prez David Maundrell tells The Real Deal. Only parents can save the ‘hood now. [Real Deal]

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