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.