Crain’s New York Business

July 17, 2015

By Kerry Murtha

…Meanwhile, 43 new condominiums will rise on a five-acre waterfront site overlooking Long Island Sound in the next two years. Jeff Simpson, chief executive of the project’s builder, Greystone Property Development, stressed that it was designed to fit in seamlessly with its surroundings, including the island’s 1,500 single-family, mostly clapboard homes. He noted that there will be 22 freestanding townhouses, each with two stacked units, giving the appearance of one-family homes.

“We were worried at first that the complex would be tacky, but it blends in with the community,” said Ms. Dolensek.

Simply dubbed On the Sound, the development will offer a mix of two-, three- and four-bedroom units complete with private driveways, gardens and elevated terraces. A community esplanade and gazebo are also being built. Prices start between $450,000 and $500,000 for a two-bedroom and run close to $600,000 for a four-bedroom. More than a third of them have sold already, according to Mr. Simpson.

“We were planning to stagger construction, but given the demand, we’re forging ahead,” he said.

On the Sound is one of the biggest condo complexes on City Island to go up since the opening of the Boatyard, a 70-unit development erected in the 1980s on the former site of a shipwright’s shop that, like many others, fell victim to the public’s growing preference for fiberglass hulls. The boat makers are long gone, too. The island is now best known for its summer traffic jams and day-trippers who flood in to enjoy a respite from harried city life.

Wall Street Journal

July 13, 2015

By Keiko Morris

The landmarked former bathhouse known as the Brooklyn Lyceum will soon resume its role as a gymnasium: Blink Fitness is expected to open at the Park Slope building next year.

Developer Greystone & Co., which bought the building this year, signed a 15-year lease with the fitness chain to occupy the entire 16,700-square-foot space, company officials said.

YIMBY

July 8, 2015

By Rebecca Baird-Remba

In January, Greystone snapped up a vacant lot next to the landmarked Brooklyn Lyceum in Park Slope for $13,500,000, and now YIMBY has the first look at the 12-story rental building planned for the site at 225 4th Avenue.

The New York Post

July 8, 2015

By Lana Bortolot

When the Brooklyn Navy Yard announced in May that Wegmans, a Rochester, NY-based supermarket chain, will build on its Admiral’s Row site, local activists and residents alike breathed a sigh of relief.

But many developers aren’t waiting for that much-anticipated opening. New real estate projects are peppering the Wallabout and Vinegar Hill — from large projects such as Navy Green, the full-block, mixed-income complex on Flushing Avenue that will include condominiums and townhomes, to Waterbridge 47, a 25-unit condominium straddling Vinegar Hill and Dumbo at 47 Bridge St.

And there are plenty in between. Though technically in Dumbo, just within one block of Waterbridge 47 three conversions are under construction: 74 condominiums at 51 Jay St.; 15 at the former Brillo factory at 200 Water St.; and a 105-unit rental building at 177-183 Front St. that will offer luxury and affordable housing.

Jeffrey Simpson, head of Greystone Property Development Group, Waterbridge 47’s developer, isn’t daunted by the competition. “Our units are not super large or super expensive,” he says. “[They] fit in the context but still have a boutique feeling and modern systems.”

Pricing for Waterbridge 47 ranges from $939, 750 to $1.4 million for one-bedrooms with 698 to 1,267 square feet (all are in contract); and $1.29 million to $1.52 million for two-bedroom units averaging 980 square feet. A 1,230-square-foot, three-bedroom condo lists for $1.75 million. Sales launched four months ago and the building is 60 percent sold, Simpson said.