Williamsburg

Williamsburg's for-sale inventory exists because of the 2005 Greenpoint-Williamsburg waterfront rezoning, and nearly everything we track here was built after it, along Kent Avenue and the Northside. It is condominium stock at scale, with two genuine loft conversions — the Gretsch and the Austin Nichols House — as the exceptions. Almost all of it carried a 421-a benefit now in or past phase-out, so model the carrying cost from the current tax bill rather than the listed figure.