A condo conversion and a new 12-story rental building are slowly taking shape at two former Jehovah’s Witnesses properties in Dumbo. Two years ago, Landmarks approved plans to convert an old Brillo factory at 200 Water Street into 15 condos, which will include two-, three- and four-bedrooms with terraces.
Now the 1950’s factory has a freshly repointed brick facade and new windows, along with construction signage touting “gallery-style residences.” The back of the building has been completely demolished, and steel framing has gone up for a two-story glass addition on top of the four-story warehouse. While the condos haven’t hit the market yet, the teaser site reveals prices ranging from $2,300,000 to $5,600,000.
Next door at 177-183 Front Street, a low-slung warehouse has been knocked down and excavation has begun for a 12-story apartment building. It’ll have 105 rentals consisting of one-, two- and three-bedrooms, a doorman, fitness center, bike storage and children’s playroom.
Twenty percent of the apartments will be set aside as affordable housing, and market-rate units will likely rent from $3,000 to $6,000, The Real Deal reported last year. Construction is expected to finish in 2016.
Aufgang Architects is designing both projects, and the developers are Megalith Capital Management and Urban Realty Partners. The Witnesses unloaded 200 Water, 173 and 177 Front Streets for $30,600,000 in 2013. Then last year, the Carlyle Group acquired all three properties from Megalith for the same price.
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