February 18, 2015By Konrad PutzierGreystone Property Development’s strategy resembles that of a truffle pig: It makes a living by searching where others don’t even bother to look.This helps explain why the firm just became the first developer to bring new condos to City Island in more than 15 years. Located off the far fringes of the Bronx in Long Island Sound, well beyond the subway system, City Island is one of New York City’s most remote residential communities.The commuting distance to Manhattan, combined with its small size, means it has attracted little interest from developers — until Greystone came along.Sales have now launched at “On the Sound”, the firm’s 43-townhome development at 226 Fordham Place. Greystone New Development’s CEO Jeffrey Simpson told Real Estate Weekly that the firm hadn’t specifically targeted City Island.
February 10, 2015
By Brian Bandell
A New York developer wants to build a 156-unit residential tower in Miami’s booming Edgewater neighborhood.
The strip north of downtown Miami is home to many new condo and apartment projects. 2500 Biscayne Property LLC, an affiliate of Greystone & Co., would add to that with a 36-story, 218-foot tower at 2500 and 2590 Biscayne Blvd. In addition to the 156 residential units, it would have 10,595 square feet of commercial/retail space.
The entire building would be 323,764 square feet and include 287 parking spaces, according to its application. The project, currently called NE 26 Street Development, will be heard by Miami’s Urban Development Review Board on Feb. 18.
February 5, 2015
By Lauren Elkies Schram
Less than a year after Continental Venturesand Itzhaki Acquisitions shepherded their Greenwich Village Historic District mixed-use project through a successful Landmarks Preservation Commission review, they have brought in another partner. Greystone Property Development has paid $17 million for a majority interest in the property at 130 Seventh Avenue South at the corner of West 10th Street.
“We developed it to this point in time,” saidJane Gol, the president of Continental Ventures, declining to state the percentage of the stake that was purchased. “We have a relationship with Greystone.”
February 6, 2015
By Zoe Rosenberg
On a blustery Thursday night, hordes of people—at least far too many to fit comfortably in a small space—joined in celebrating the grand opening broker party for Waterbridge 47, Greystone’s “boutique” development on the Dumbo/Vinegar Hill border. If the party, complete with jazz band, is to be used as an indicator for the clientele the development wants to woo, the answer is this: the endorser of finer things who’s kind of laid back and gets immense satisfaction from telling their family elsewhere they live in Brooklyn. Serendipitously, Greystone CEO of Property Development Jeffrey Simpson indirectly corroborated that assessment, noting that Dumbo really is“Brooklyn’s Tribeca.”
February 1, 2015
By Dan Geiger
Greystone, a real estate development and finance company, recently bought a building site on Fourth Avenue in Park Slope where the previous owner had already secured construction permits, which will allow Greystone to begin building almost immediately.
“Our answer to sellers of development sites that are on the market but don’t have any approvals lined up is ‘You’re dreaming,’ ” said Jeff Simpson, chief executive of property development at Greystone. “On the other hand, the fact that this site was ready to go enhanced the value for sure.”