The Day We've Been Waiting For: Roebling Oil Building Gets a Name
There is news to report about the Roebling Oil Building. No, there is no new smell of oil coming from the property or test well being drilled. The building now has a name: Warehouse 11. The news was in a New York Magazine story yesterday looking at some new condos and who will buy them. It clearly looks to us, based on what Williamsburg prices have been, that the sellers are shaving a good 20-25 percent off what is being asked in comparable Williamsburg buildings. Surely, the target market will be the 98 percent of the market that hasn't seen any of the Roebling Oil Field coverage and buyers so excited to be getting a relative bargain compared to other condos that they will pooh pooh the site's environmental history. While the site has been cleaned up per regulations, we know the state still hasn't figured out the source of the oil that seeped into the Oil Field nor how far it has spread. We understand that the contaminated soil was removed and that a protective membrane was laid, but we do wonder about the thoroughness of state regulation as well as the clean and cap method of site preparation. Studios starting at $399,000.