New York Post

August 25, 2016

By Hana R. Alberts

The Bronx’s best-kept secret isn’t lion cubs at the zoo, rare blossoms at the botanical garden or Italian restaurants on Arthur Avenue. It’s a neighborhood called City Island that takes up less than half a square mile in the borough’s northeastern corner.

New Yorkers are flocking to the nautical nabe, known primarily for its seafood restaurants and marinas, for affordable real estate and a quaint community vibe. New residents — or “mussel suckers,” as natives (“clam diggers”) call them — include young families moving from Brooklyn and Manhattan looking for bigger homes, as well as empty nesters downsizing from tonier locales in Westchester or Long Island.

The Pertsovskys recently bought a three-bedroom, 3½-bathroom at On the Sound, the first new real-estate development on City Island in more than a decade. Thirteen of 43 units on the waterfront site, which have access to a gym, a clubhouse lounge, a pool and an outdoor esplanade, are still available, according to Jill Preschel, vice president of marketing of On the Sound developer Greystone. They range from $770,000 to over $1 million.

“When I wake up and walk the dog and go down to the diner, it feels like I am on vacation,” says Laura Clemente, an agent with McClellan Sotheby’s International Realty. She not only sells On the Sound properties but also moved there in July with her husband — giving up a larger house in Westchester’s Pelham Manor.

New developments like On the Sound are rare in the enclave, where real-estate listings are dominated by resales of charming older houses: bungalows, Victorians, cottages. For example, an adorable green-and-yellow two-bedroom at 369 City Island Ave. is on the market for $459,000, repped by broker Teddy Montee of DJK Residential — a mussel sucker himself as of 2014. There are swankier properties, too, like a two-bedroom duplex condo with updated appliances in a gated community at 3 Deepwater Way, asking $625,000, from Douglas Elliman’s Charles G. Brophy.


August 24, 2016

By Rayna Katz

Looking at Greystone Development’s properties, one might see a range of property and location types in the portfolio. That’s no accident, company head Jeff Simpson tells While the firm likes creating multifamily properties in major markets, it invests in other asset classes and would consider secondary cities, he says, noting, “It’s all about the opportunity.”


August 22, 2016

By Benjamin Mazzara

Even the idea of developing or investing in a luxury condo development raises eyebrows these days. But NYC-based real estate development, lending and advisory company Greystone Development has been able to make the most of its luxury rental and condo portfolio quarter after quarter, and has even begun to expand its holdings in NYC, Miami and, most recently, Silicon Valley. According to CEO Jeffrey Simpson, there are multiple keys to Greystone’s success in NYC’s suddenly shaky market.

City Realty

July 11, 2016

By City Realty Staff

Rising from the Seventh Avenue site once home to Veranda restaurant/nightclub, Greenwich Village’s latest condominium, 175 West 10th Street, has reached its apex. Developers Continental Ventures, Itzhaki Acquisitions, and Greystone Property Development tapped award-winning firm BKSK Architects to design the 7-story low-rise.
The building rises from a unique triangular site between Charles and West 10th streets within the beloved Greenwich Village Historic District. While contextual in scale, the building boasts an energetic facade of deeply inset windows of varying widths topped by a glass-encased penthouse. Inside are just five floor-through 3-bedroom apartments, four of which are now for sale starting from $5,995,000.

City Realty

July 5, 2016

By City Realty Staff

In Brooklyn’s Clinton Hill neighborhood, a modern five-floor rental building developed by Greystone Development and designed by AB Architekten is wrapping up construction. The ground-up building at 531 Myrtle Avenue replaces a White Castle fast-food restaurant and is located near Pratt Institute’s main campus, along the neighborhood’s revived retail corridor. Also nearby is the forthcoming Myrtle Avenue Pedestrian Plaza. The residential project topped off earlier this year and is currently enclosed in a sleek facade of metal panels and expansive windows, many of which are operable.

Curbed NY

July 5, 2016

By Zoe Rosenberg

The quiet Bronx enclave of City Island is set away from the hustle and bustle of much of the city, and at that, the idyllic island is slow to change. So when developer Greystone announced that it would be bringing City Island its first new large-scale condos in 15 years via a gated development called On the Sound, it came as a shock—but a well-received one at that. Sales of On the Sound’s 43 townhouse-style apartments kicked off in February 2015, and to-date nearly 70 percent of the condos have sold.


June 27, 2016

By Rebecca Baird-Remba

The 12-story rental building at 69 East 125th Street in East Harlem is getting close to its full height. The developers have sent along shots of the construction, which has reached the 11th floor along 125th Street.

The development has risen fast since the foundation was poured in February. Construction kicked off towards the end of last year, and it’s set to finish in the spring of 2017. The building is split into two towers, and the structure for the shorter, north tower has hit six stories. Since the 126th Street side of the project is supposed to be six stories plus a penthouse, it’s close to topping out as well.

The finished complex will hold 75 apartments, divided across 57,300 square feet. The units will consist of full-floor and half-floor apartments, and 20 percent of them will be rented for below-market rates. The developer, Greystone, broke ground last year before the old 421-a tax break expired, and the building will be exempted from property taxes for at least 15 years. The firm could also have taken advantage of a floor area bonus, but they were unable to use it because zoning limits the heights along 125th and 126th streets.

South Florida Business Journal

June 23, 2016

By Brian Bandell

Greystone obtained a $22 million construction loan to build a 100-unit apartment complex on the west side of Miami.

The general contractor is Civic Construction Co. The 14-story apartment tower, designed by Borges and Associates, should be open in the first quarter of 2018. The project will also have 11,000 square feet of ground-floor retail.

Metro NY

June 15, 2016

By Cristabelle Tumola

Unlike other areas of the city, which are used to new developments popping up in the last decade or two and changing the landscape, City Island is in the process of completing its first large-scale condo development in nearly 15 years.

City island hasn’t had any major development in about 30 years, according to Sona Davidian, project representative of On the Sound.

Located at 226 Fordham Place with views of Long Island Sound, On the Sound consists of 43 townhouse-style condominiums situated within a private gated community.

Metro NY

June 1, 2016

By Cristabelle Tumola

175 West 10th St.

This full-floor apartment, within a boutique condominium building, features three bedrooms and three-and-a-half-baths in 2,702 square feet.

Listed for $7 million, the home’s five-piece master bath was “designed to offer serene, spa-like experiences.” Those details include Calacatta Creme marble walls, and a soaking tub and glass enclosed shower. There is also a customized double vanity and pendant lighting.

The guest baths and powder room also didn’t skimp on luxury details, featuring fixtures from Waterworks, custom vanities and tile, and imported marble flooring.