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.