Developer Investmates Real Estate is building townhouses in South Williamsburg, rentals on Grand Street, and now condos in Greenpoint. They’ve sent along renderings of their latest project, a five-story condo development at 78 Freeman Street, only a block from the East River between Franklin and West Streets.
The 5,000-square-foot building will have just four condos, with sizable two- and three-bedrooms clocking in between 1,200 and 1,600 square feet apiece. The first floor apartment will be a two-bedroom duplex with cellar and garden space, and there will be three-bedroom, two-bath units with private terraces on the second and third floors. The penthouse buyer will get a three bedroom, two-bath duplex that includes a balcony and a private roof deck.
International Office of Architects, who are based in Midtown West, will handle the design.
The Williamsburg-based firm snapped up the 2,500-square-foot plot in March for $1,650,000, or roughly $330 per buildable square foot. Demolition permits have not yet been filed to knock down the property’s current occupant, a two-story frame house.
The zoning is somewhat restrictive on Greenpoint’s side streets, capping heights at 50 feet, and the planned building will max out the square footage allowed on such a small lot.
Investmates hopes to file plans for 87 Freeman in the next few weeks and break ground by the end of 2015.